Japan-based Lincwell raises $70m Series C led by Bain Capital
Summary
Bain Capital Private Equity has led an 8 billion yen ($69.7 million) Series C funding round for Japan-based healthcare software provider Linc’well, according to a statement. Temasek’s private equity unit Pavilion Capital and Linc’well’s existing investors DCM Ventures and Incubate Fund also participated in the round. The company said it will use the Series C proceeds to further build its health-tech platform as well as expand its team, particularly in a post-COVID19 environment where the government aims to accelerate digitalisation in the healthcare sector. In Japan, Bain Capital’s healthcare investments include nursing care service firm Nichii Gakkan and drug stores chain operator Kirindo, while its tech portfolio includes payments and e-commerce platform hey, e-mail service business EmberPoint, dating app Ignis, and HR software provider Works Human Intelligence. Earlier this year, the firm was said to mull a bid to acquire Toshiba, after the Japanese conglomerate dismissed a $20 billion buyout offer from CVC Capital Partners.