Venture • Consumer Services

Temasek Holdings and Ascent Capital Invest In CureFit

On March 23, 2020, sovereign wealth fund Temasek Holdings and private equity firm Ascent Capital invested in consumer services company CureFit

Investment Context
  • This is Temasek Holdings’ 3rd and Ascent Capital’s 1st transaction in the Consumer Services sector.
  • This is Temasek Holdings’ 7th and Ascent Capital’s 29th transaction in India.

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Investment Summary

Date March 23, 2020
Target CureFit
Sector Consumer Services
Investor(s) Temasek Holdings
Ascent Capital
Deal Type Venture

Target Company

CureFit

Bangalore, India
CureFit is a health and fitness company offering digital and offline experiences across fitness, nutrition, and mental well-being. CureFit was founded in 2016 and is based in Bangalore, Karnataka.
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Investors Overview 2

Investor

Temasek Holdings

Investor Investor Investor Investor Investor


Category Sovereign Wealth Fund
Founded 1974
PE ASSETS 434.0B SGD
Size Mega
Type Sector Agnostic
DESCRIPTION

Temasek Holdings is a state-owned investment holding company. Temasek is owned by the government of Singapore and invests directly and indirectly in a broad range of assets and sectors. Target sectors include financial services, telecommunications, media, technology, transportation, industrials, life science, consumer, real estate, energy, and resources. Temasek was formed in 1974 and is based in Singapore.


Deal Context for Investor #
Overall 37 of 50
Sector: Consumer Services 3 of 3
Type: Venture 8 of 9
Country: India 7 of 8
Year: 2020 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-22 O2 Power

Gurugram, India

O2 Power is a renewable energy platform to develop and execute utility-scale renewable projects across solar, wind, and hybrid with good quality off-takers via both greenfield project development and M&A. O2 Power was founded in 2020 and is based in Gurugram, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-17 Glenmark

Mumbai, India

Glenmark is a research-led, global pharmaceutical company with a presence across branded, generics, and OTC segments, focusing on therapeutic areas of respiratory, dermatology and oncology. Glenmark Pharmaceuticals was founded in 1977 and is based in Mumbai, India.

Sell -
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 Context for Investor #
Overall 29 of 33
Sector: Consumer Services 1 of 1
Type: Venture 13 of 16
Country: India 29 of 33
Year: 2020 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-04 Naari

Bangalore, India

Naari is a vertically integrated women’s health pharma business focused on hormones. It has development and manufacturing capabilities for fermentation intermediates, active pharmaceutical ingredients and FDFs. Naari was founded in 1978 and is based in Bangalore, Karnataka.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-27 Freshtohome

Bangalore, India

FreshToHome is a direct-to-consumer online meat brands in India, focused on providing a wide variety of fresh and hygienic seafood and meat at the convenience of doorstep delivery to the consumer. It manages the entire supply chain for seafood and meat from direct procurement from fishermen to last mile delivery through its innovative technology platform. Freshtohome was founded in 2015 and is based in Bangalore, Karnataka.

Buy -

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