+1-888-308-5802     
News Contact Us

Vostok New Ventures pours in $71 million in Babylon Holdings

Author : Pankaj Singh | Published Date : 2019-08-03 
  • Babylon Holdings announces new investment cycle to fund product innovation and international expansion.
  • Vostok New Ventures plans to invest over $71 million in the upcoming round.

Bermuda based Vostok New Ventures Limited’s major holdings, Babylon Holdings Limited, reportedly announced a new investment round in an amount close to $500 million.

It has been claimed that the amount to be raised through this investment round would be used to fund product innovation and international expansion, chiefly in the US. According to authentic sources, Vostok New Ventures is contributing in the round and is investing a total of over $71 million in Babylon including formerly announced convertible debt investments of $16 million.

As per the sources with knowledge on the matter, in the first closure of $400 million commitment, the company has been reported to possess 10.6 per cent of Babylon Holdings on a fully converted basis and when the round is filled to $500 million, the company will own over 10.0 per cent of Babylon on a fully converted basis.

The complete funding round values Babylon at $2 billion and is expected to result in an important positive revision of Vostok New Ventures’s holdings in Babylon. Vostok New Ventures Net Asset Value is claimed to increase by roughly $107 million or 18 per cent compared to the last stated NAV as per 31st March 2019.

Per Brilioth, CEO of Vostok New Ventures was reportedly quoted stating that the new funding round will allow Babylon to stimulate its growth and strengthen the company’s leading position in digital health. He further added that the company is looking forward to supporting Babylon and its management over the upcoming years to accelerate its business.

For the records, Vostok New Ventures Limited, which has its headquarters in Bermuda, is an investment company adhering to the concepts of making use of experience, specialization and expanded network to identify and capitalize assets with substantial potential for value appreciation.

Source credit: https://ml-eu.globenewswire.com/Resource/Download/63d82319-8c95-4e33-9dfd-3d6928dd118d

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

Related News

ByteDance could lose $6 billion following recent TikTok ban in India

Published Date: 2020-07-03         Author: Pankaj Singh

The latest decision taken by the Government of India to ban 59 Chinese smartphone apps is trending worldwide, especially across China. As per a report by China’s Global Times, ByteDance, the parent firm of Helo and TikTok, is likely to incur a loss of about $6 billion after this imposed ban by... Read More

Oyo suspends MGB contracts for property owners due to reduced revenues

Published Date: 2020-07-01         Author: Pankaj Singh

The adverse impact of COVID-19 pandemic is becoming more and more evident across the world. It is being speculated that  nothing of this magnitude has been observed for more than 100 years since the 1918 Spanish Flu pandemic. Till now, over ten million people have been infected in over 200 nati... Read More

Universal Studios postpones the opening of Nintendo-themed area

Published Date: 2020-06-30         Author: Pankaj Singh

The ongoing COVID-19 pandemic has claimed the lives of over half a million people and affected more than ten millions around the world. As the current situation is worsening, many world events as well as the opening of theme parks have been canceled or postponed in order to reduce the spread of the ... Read More

© 2020 Fractovia. All Rights Reserved