AGIC Capital, a European-Asian private equity firm, has announced that it had completed a growth-equity investment in AP Technologies, a Singapore-based medical device contract manufacturer.
The investment is the first transaction made by AGIC’s second fund in Asia, which had raised $1.2 billion in 2021. Similar to the firm’s mandate, the vehicle focuses on mid-market businesses in advanced industrial and medical technology in Europe and other regions, including Asia.
“Their support will allow us to make key investments in enhancing our technological capabilities while helping us to accelerate our global development strategy,” AP Tech’s CEO and co-founder Charles Tang said in a joint statement on Friday.
Founded in 2013, AP Technologies produces medical tubing and catheters with speciality in the design, development, and production of complex medical extrusions and interventional catheters. It serves a number of blue-chip customers in the area of diagnostics, interventional cardiology, neurology and diabetic care.
The news came after AGIC, which has $2.2 billion in assets under management, announced last month that it had acquired a majority stake in Pure Trade. The investment firm has offices in Munich, London, Hong Kong, Shanghai and Beijing.
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