Advent invests $175M in Felix Pharma

Advent International is investing $175 million for a significant minority stake in Dublin-based Felix Pharmaceuticals, a fast-growing player in generic animal medicines.

Advent International is a global private equity firm that invests in businesses across sectors, with deep expertise in healthcare, pharmaceuticals, and financial services. Felix Pharmaceuticals manufactures generic (off-patent) medicines for companion animals, with one of the broadest portfolios in the industry.

The why: Felix needed a partner to help accelerate growth and expand globally in a nascent but promising market. With Advent’s capital, operational know-how, and pharma experience, Felix is well-positioned to build scale faster.

Zoom out: Advent has been doubling down on Indian healthcare and financial services.

• In April 2024, it picked up a 12.1% stake in Apollo Healthco for ₹2,475 crore.
• Last year, it invested $230 million in Svatantra Microfin alongside Multiples PE, and also exited Bharat Serums and Vaccines, selling it to Mankind Pharma for a whopping ₹13,630 crore.