KKR-Led Group Increases Investment in Fungal Biotech Firm Sylvan

A group led by KKR & Co. has made an additional investment in fungal biotechnology company Sylvan Inc.

Novo Holdings was part of the round, with a follow-on investment to one it made in April, according to a statement Wednesday. KKR will remain the majority shareholder in Sylvan. Financial terms weren’t disclosed.

The fresh funding will help support Sylvan’s expansion, including increasing production capacity, strengthening research and development and advancing high-growth product categories, the firms said.

Other investors include TPG NewQuest, Ping An Capital, China Post Insurance, Schroders Capital and Tsao Pao Chee.

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