Investment Summary

Ascent Capital, Multiples Alternate Asset Management and General Atlantic Invest In Acko

On October 28, 2021, private equity firm Ascent Capital, private equity firm Multiples Alternate Asset Management and growth capital firm General Atlantic invested in insurance company Acko

Investment Highlights
  • This is Ascent Capital’s 1st, Multiples Alternate Asset Management’s 1st and General Atlantic’s 5th transaction in the Insurance sector.
  • This is Ascent Capital’s 32nd, Multiples Alternate Asset Management’s 20th and General Atlantic’s 23rd transaction in India.

Investment Summary

Date 2021-10-28
Target Acko
Sector Insurance
Investor(s) Ascent Capital
Multiples Alternate Asset Management
General Atlantic
Deal Type Venture
Advisor(s) Barclays Investment Bank (Financial)

Target

Acko

Bangalore, India
Acko is a digital native insurance company. Acko addresses the insurance needs of ‘digitally savvy’ consumers with its customer centric product design, instance based products, customized real time pricing and smooth claim settlement. Acko was founded in 2016 and is based in Bangalore, Karnataka.

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Investor(S) 3

Investor

Ascent Capital

Bangalore, India

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
PE ASSETS 392M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ascent Capital is a private equity firm focused on growth capital investments in promising Indian companies driven by 'visionary leadership'. In addition to providing growth financing, Ascent also helps young companies attract senior management talent and maintain high standards of corporate governance in preparation for an exit. Ascent invests in the range of $10 - $30 million per transaction. Ascent prefers investing in sectors that leverage India's outsourcing strengths, benefit form the country's infrastructure boom, and address a growing consumer market. Ascent Capital was formed in 2000 and is based in Bangalore.


DEAL STATS #
Overall 32 of 33
Sector: Insurance M&A 1 of 1
Type: Venture M&A Deals 16 of 16
Country: India M&A 32 of 33
Year: 2021 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-10 Robosoft Technologies

Udupi, India

Robosoft Technologies is a full-service digital experiences agency offering digital advisory, design strategy, UX/UI services, app development & maintenance and expertise in emerging technologies. Robosoft Technologies was founded in 1996 and is based in Udupi, India.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-24 Symbio

Bengaluru, India

Symbio is a specialized Active Pharmaceutical Ingredients (API) manufacturing, marketing and service platform. Symbio was founded in 2011 and is based in Bengaluru, Karnataka.

Buy -
Investor
DESCRIPTION

Multiples Alternate Asset Management is a private equity firm focused on opportunities throughout India. The Firm does not have any sector preferences and will consider a range of opportunities, from minority stakes to buyouts. Multiples was formed in 2009 and is headquartered in Mumbai.


DEAL STATS #
Overall 22 of 28
Sector: Insurance M&A 1 of 1
Type: Venture M&A Deals 4 of 4
Country: India M&A 20 of 26
Year: 2021 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-15 Licious

Bangalore, India

Licious is a Direct to Consumer fresh meat brand delighting customers with their promise of quality, freshness and timely delivery. Licious was founded in 2015 and is based in Bangalore, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-17 BDR Pharma

Mumbai, India

BDR Pharma is an Oncology and Critical Care focused, integrated pharma player with R&D capabilities. BDR Pharma was founded in 2003 and is based in Mumbai, India.

Buy -
Investor

General Atlantic

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1980
PE ASSETS 105.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in New York, New York.


DEAL STATS #
Overall 303 of 364
Sector: Insurance M&A 5 of 6
Type: Venture M&A Deals 83 of 98
Country: India M&A 23 of 25
Year: 2021 M&A 39 of 46
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-28 HireRight

Nashville, Tennessee, United States

HireRight is a global background screening company that offers innovative solutions to help organizations screen and manage their workforce. HireRight was founded in 1990 and is based in Nashville, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-29 Sonendo

Laguna Hills, California, United States

Sonendo is a developer of an innovative and disruptive technologies to transform dentistry by saving teeth through sound science. Sonendo was founded in 2006 and is based in Laguna Hills, California.

Sell -