Investcorp said it has led an investment of 5.45 billion Indian rupees ($6.7 million) in India’s Global Dental Services Limited (GDS).

Tybourne Capital, an Asia-based global growth investor and other new and existing shareholders are also investing alongside, the alternative asset manager said in a statement on Tuesday.

This marks Investcorp’s fourth healthcare investment in India and its first in the dental industry in the country. According to Gaurav Sharma, Head of Private Equity, India at the investor, the Indian dental services market is worth $3 billion today.

The GDS group, which owns and operates 340 clinics across 24 cities and 12 states in India under the brand “Clove Dental,” Asia’s largest dental chain.

Investcorp, which lists Abu Dhabi sovereign fund Mubadala Investment Co. as a shareholder, began its operations in India in 2019. It has earlier concluded three healthcare deals in India: V-Ensure Pharma Technologies, Neprhoplus (a dialysis chain), and ASG Eye Hospitals, where Investcorp recently sold its entire stake to General Atlantic and Kedaara. Globally, Investcorp has invested in Acura, Germany’s second largest dental platform.

In India, Investcorp is an active investor in mid-market companies across consumption-linked sectors and in the real estate business.

(Writing by Brinda Darasha; editing by Seban Scaria)