Serum Institute acquires stake in Policybazaar; True North sees part exit
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Vaccine manufacturer Serum Institute Of India and four other entities have bought a stake in online insurance aggregator PolicyBazaar. They acquired a portion of homegrown private equity firm True North’s holding in the company. True North made a partial exit through the transaction. True North had conducted the first tranche of its stake sale in October 2020 and continues to be invested in PolicyBazaar for its next phase of growth.