Advancing Vision Care for All — These 5 Firms Have Invested in Vasan Eye Care
Vasan Eye Care began as a small pharmacy-based vision care provider in the 1940s. In the ensuing decades, it grew to become India’s largest network of specialty vision care clinics and surgical centers. It is now recognized as a leader in complex specialty vision care and is renowned for patient service and satisfaction.
How did Vasan Eye Care get here? Many thousands of talented employees, from clerical staff and nurses to optometrists and eye surgeons, contributed immeasurably to its growth, of course. The company wouldn’t be what it is today without their combined efforts.
Vasan’s various investors have played important roles in its development over the years as well. Let’s examine five recent firms and investment groups that provided critical funding and institutional support as Vasan grew from a small, family-owned shop into a nationwide eye care giant.
1. ASG Eye Hospitals
Following a merger in early 2023, ASG Eye Hospitals is the latest investor in Vasan Eye Care. The combined entity counts more than 150 eye care clinics and specialty surgical centers across India, both in Vasan’s historic home base in South India and in major urban areas further north.
2. GIC
Formerly known as Government of Singapore Investment Corporation, GIC was a partner in Vasan Eye Care along with Sequoia Capital India during Vasan’s rapid growth phase in the early 2010s. Its seasoned investment team provided critical insight and support as Vasan diversified its portfolio of services and expanded well beyond its operational base in Tamil Nadu.
Like Sequoia, GIC is a storied investment firm whose work often has a “force multiplier” effect. Its involvement raised Vasan’s profile within the Indian healthcare industry and solidified its reputation as a top-tier healthcare provider.
3. Investcorp
While not a direct investor in Vasan Eye Care, Investcorp played an important role in preparing ASG Eye Hospitals for its subsequent merger with Vasan. The firm provided considerable support to ASG during the 2010s and early 2020s and was instrumental in its rapid expansion to become the second-largest eye care provider in India. That expansion, and the general quality improvements implemented by the Investcorp team, put ASG in position to pursue and close the Vasan merger.
4. Sequoia Capital India
Sequoia Capital India invested in Vasan Eye Care more than a decade ago during a critical phase of the company’s growth. Along with other investors at the time, it provided the capital and institutional knowledge Vasan needed to professionalize its operations and expand geographically.
Sequoia Capital India brought an impressive pedigree to the relationship. As the Indian arm of famed U.S. venture capital and private equity firm Sequoia Capital, its reputation was instrumental in attracting employees, vendor partners, and junior investors to the enterprise.
5. WestBridge Capital
WestBridge Ventures II was an early investor in Vasan during the company’s rapid growth phase. A homegrown Indian private equity firm, WestBridge specialized in surfacing and supporting high-potential firms serving its home market. Vasan’s simple yet persuasive objective — to provide specialty vision care across India — aligned with WestBridge’s own vision to back high quality Indian business that serve the country’s rapidly expanding population.
