# BNP Paribas Arbitrage

> BNP Paribas Arbitrage is a VC fund backing Health Care, Manufacturing and Medical. See 16 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Total investments: 16
- Last investment: Jul 2026
- Lead investor: 0%
- Last updated: Aug 2026

BNP Paribas Arbitrage is a VC fund focused on Health Care and Manufacturing. An Investment Firm.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Health Care | 4 | 25% |
| Manufacturing | 4 | 25% |
| Medical | 3 | 19% |
| E-Commerce | 3 | 19% |
| Energy | 2 | 13% |

36 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Post-IPO Secondary | 10 | 63% |
| Funding Round | 3 | 19% |
| Private Equity | 2 | 13% |
| Post-IPO Equity | 1 | 6% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Biocon | Biocon is a fully integrated healthcare company that delivers innovative biopharmaceutical solutions. From discovery to development and commercialisation, Biocon has the defining science, cost-effective drug development capabilities and significant manufacturing capacity to move ideas to market. | $382M | Post-IPO Secondary | Jul 13, 2026 |  |
| One97 Communications | One97 delivers mobile content and commerce services to millions of mobile consumers through India’s most widely deployed telecom applications cloud platform. It has more than 4,500 employees with its headquarters in New Delhi and regional offices in Mumbai, Bengaluru, Pune, Chennai, and Kolkata with global presence in Africa, Europe, Middle East,and Southeast Asia. Marquee investors like Alibaba Group, Ant Financial (AliPay), SAIF Partners, Mediatek, Sapphire Venture, and Silicon Valley Bank back it. | $100.5M | Post-IPO Secondary | May 22, 2026 |  |
| Shriram Properties | Shriram Group had its humble beginnings in the Chit Fund business over three decades ago. R Thyagarajan, AVS Raja and T Jayaraman were the “three musketeers” who ventured into this business. Not many in the financial industry thought at that time, that this small Chit Funds business in Chennai would become the foundation for a financialconglomerate that Shriram is today. | $22.8M | Post-IPO Secondary | Dec 05, 2023 |  |
| Inoxwind | The Inox Group is a $2 billion, professionally managed business group with diverse business interests including industrial gases, refrigerants, chemicals, engineering plastics, cryogenic engineering, renewable energy and entertainment. The Inox Group includes two listed companies (Gujarat Fluorochemicals Limited and Inox Leisure Limited) and ajoint venture (Inox Air Products Limited) with a global giant, a Fortune 500 company – Air Products & Chemicals Inc. The Inox group employs more than 8000 people at more than 100 business units across India, with the distribution network spread across more than 50 countries around the world. |  | Post-IPO Equity | Oct 31, 2023 |  |
| Inoxwind | The Inox Group is a $2 billion, professionally managed business group with diverse business interests including industrial gases, refrigerants, chemicals, engineering plastics, cryogenic engineering, renewable energy and entertainment. The Inox Group includes two listed companies (Gujarat Fluorochemicals Limited and Inox Leisure Limited) and ajoint venture (Inox Air Products Limited) with a global giant, a Fortune 500 company – Air Products & Chemicals Inc. The Inox group employs more than 8000 people at more than 100 business units across India, with the distribution network spread across more than 50 countries around the world. | $96.1M | Post-IPO Secondary | Oct 31, 2023 |  |
| Cello | The makers of India's favorite Cello pens, are a part of Rs.1000 crore Cello Group. Lauded as one of the world's best and India's largest manufacturer of plastic products and an undisputed market leader. Awarded the prestigious PLEXCONCIL AWARD for NO.1 outstanding performance, 18 TIMES in a row . Cello is a trusted house hold nameinternationally and well known for its dynamism and spirit of innovation. Cello ceaselessly endeavor’s to bring in the newest and the best of technology to set new benchmarks in quality and innovates constantly to blaze new trails in the market place. | $68M |  | Oct 27, 2023 |  |
| Blue Jet Healthcare | Blue Jet Healthcare | $30.4M | Private Equity | Oct 23, 2023 |  |
| Updater Services | Updater Services (P) Limited is India's largest facility management services company, with more than 35,000 people spread across the country with a strong branch network. UDS offers a comprehensive and integrated facility management services for Commercial, IT Parks, Township, Manufacturing, Hospitality, Healthcare, Residential, Retail, BFSIand other industries. | $34.5M |  | Sep 22, 2023 |  |
| JSW Infrastructure | JSW Infrastructure operates environment-friendly seaports & terminals. | $151.6M |  | Sep 22, 2023 |  |
| Amara Raja Group | Amara Raja Batteries Limited (ARBL), the flagship company of the Amara Raja Group, is the technology leader and is one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry.ARBL has prestigious original equipment manufacturers like Maruti Suzuki India Limited,Hyundai Motors India Limited, Ford India Limited, Tata Motors Limited, Mahindra and Mahindra Limited, Honda Cars India Limited, Renault Nissan, Honda Motorcycles & Scooters India Private Ltd, Royal Enfield, Bajaj Auto Ltd, and many more as its clients. The Company's Industrial and Automotive batteries are exported to 32 countries across the globe.In India, Amara Raja is the preferred supplier to major telecom service providers, Telecom equipment manufacturers, UPS sector (OEM & Replacement), Indian Railways and to Power, Oil & Gas among other industry segments. |  | Post-IPO Secondary | Jul 18, 2023 |  |

10 of 16 investments shown.

## Co-investors
- [ICICI Prudential Mutual Fund](https://shizune.co/investors/profile/icici-prudential-mf) — VC Fund, 8 deals together
- [Societe Generale S.A.](https://shizune.co/investors/profile/societe-generale) — VC Fund, 8 deals together
- [Aditya Birla Sun Life AMC](https://shizune.co/investors/profile/aditya-birla-sun-life-amc) — VC Fund, 4 deals together
- [HDFC Mutual Fund](https://shizune.co/investors/profile/hdfc-mutual-fund) — VC Fund, 4 deals together
- [Morgan Stanley](https://shizune.co/investors/profile/morgan-stanley) — VC Fund, 4 deals together
- Sundaram Mutual Fund — VC Fund, 4 deals together

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## FAQ

### What does BNP Paribas Arbitrage invest in?

BNP Paribas Arbitrage invests primarily in Health Care, Manufacturing and Medical startups, most often at Post-IPO Secondary and Funding Round stage. Most of the 16 investments tracked by Shizune back companies in India. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did BNP Paribas Arbitrage last invest?

The most recent investment recorded for BNP Paribas Arbitrage closed in Jul 2026. Shizune tracks 16 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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