In a strategic move, early-stage venture capital firm VenturEast and healthcare private equity fund InvAsent have successfully exited from Comprehensive Prosthetics & Orthotics (CPO) through a financial secondary transaction. This exit comes as CPO secures a new round of growth capital led by NorthCreek and Parkway Partners, positioning the company for its next expansion phase.
Co-founded by visionary entrepreneur Amit Bhanti, CPO’s journey to success involved the acquisition of four different Orthotics and prosthetics (O&P) practices, propelling the company to operate over 35 clinics and establish itself among the top seven O&P practices in the United States.
VenturEast’s exit from CPO marks its eighth exit—whether total or partial—since the commencement of 2021. The fund’s recent accomplishments include a partial exit in Zaggle, which went public in September. VenturEast’s other notable entire exits encompass iNurture, Seclore, Indus OS, and Richcore Lifesciences.
The landscape of Indian startups has witnessed a series of secondary exits in 2023, reflecting a dynamic market. JSW Ventures, for instance, recently announced its exit from Purplle, transferring its shareholding to Manipal Education & Medical Group Family Office (MEMG). Artha Venture Fund (AVF) also disclosed a partial exit from Everest Fleet, a prominent fleet management company.
First Cheque, an early-stage venture capital player, took a strategic step with a partial exit from its portfolio company GIVA. Furthermore, Cusmat, K12 Techno Services, and Credgenics have also experienced partial or full exits, underscoring the diverse opportunities and successes within the Indian startup ecosystem.
As VenturEast and InvAsent celebrate their exit from CPO, the broader context of secondary exits in the startup world highlights the resilience and adaptability of venture capital and private equity in navigating the ever-evolving landscape of investment opportunities.
The CPO exit adds another milestone to VenturEast’s successful track record and positions CPO for accelerated growth with the infusion of fresh capital. This symbiotic transition exemplifies the dynamic nature of the venture capital landscape and the promising trajectory of companies like CPO in the healthcare sector.
