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Qatar Investment Authority (QIA) has made an equity investment of $50 million in Global Dental Services, the parent company of Clove Dental, India's largest tech-enabled-dental-platform.
The group operates more than 400 company-owned and company-operated dental clinics under the Clove Dental banner, the sovereign wealth fund said in a statement on its website on Tuesday.
The equity injection from QIA will "unlock significant growth opportunities for the group as it seeks to expand across India, ensuring that more Indians have access to reliable, high-quality, and affordable dental care".
This investment in Clove Dental comes as QIA looks to further diversify its portfolio in India's fast-growing economy and comes on the back of recent investments in India within the retail and real estate sectors, and in green energy investments, the wealth fund said.
QIA has, over recent years, built a diversified portfolio of investments in innovative healthcare companies that have the potential to solve societal problems and address unmet medical needs worldwide. Recent healthcare investments include biotechnology company Star Therapeutics, which focuses on developing life-changing therapies for rare diseases.
(Writing by Brinda Darasha; editing by Seban Scaria)
