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Spark Capital has been brought on-board by Cloudnine to manage the process
Marquee Venture Capital firm Matrix Partners India has successfully completed its investment term in Cloudnine Group of Hospitals becoming the first investor in the hospital to initiate the process for an investment exit. Matrix had backed Cloudnine in its early growth strategy in 2011, an investment funded through their first fund and had also re-invested in subsequent investments rounds thereafter. Investment banking firm Spark Capital has been appointed to facilitate the process.
Cloudnine set up its first unit in South Bangalore in 2007 and began expanding with the investment from Matrix Partners in 2011. Today, Cloudnine Group of Hospitals is present in 18 locations across six cities in India and continues to add about five hospitals in different cities...