GA, CPPIB, ADIA explore $250 million bet in PharmEasy

General Atlantic (GA), Canada Pension Plan Investment Board (CPPIB) and Abu Dhabi Investment Authority (ADIA) are evaluating about $250 million investment in API Holdings, the parent of PharmEasy, said people aware of the development.

The valuation of India’s largest online pharmacy, which has grown aggressively through VC money and 11 acquisitions so far, has dropped and could be at almost half its October 2021 pre-IPO valuation of $5.4 billion at $2.5-2.75 billion. The IPO was withdrawn about three weeks ago.