Tata Capital has announced a $126 M (INR 955 Cr) fundraising by a private equity arm for investing in the healthcare and pharmacy sectors in India.
The Tata Capital Healthcare Fund II (TCHF II) achieved a final closure of its fund with investor commitments of $126 Million, as per the wordings of Tata Capital Limited.
Another fund has received promises from domestic and international financial and strategic institutions that are-
- global pharma,
- medical equipment companies,
- development of financial institutions and
- large European institutions.
The second fund has also received funds from the ‘Self Reliant India (SRI)’ Fund of the Government of India under the Ministry of Micro, Small and Medium Enterprises (MSME).
Around 60% of the fresh funds raised will be utilized on the theme of domestic healthcare and life sciences consumption. Whereas the rest of 40% will be devoted to companies focused on healthcare and life sciences competency through delivering products or services to the worldwide markets.
Tata Capital Healthcare Fund has made its first investment attempt in the digital healthcare segment.
EXECUTIVE OPINION:
“TCHF II will seek to achieve returns by principally taking equity positions in healthcare and life sciences-related companies having significant business exposure to India,” said Visalakshi Chandramouli, managing partner, TCHF.
“The new fund has already made commitments to three companies in the areas of domestic pharma formulations – Linux Pharma; diagnostic services- Atulaya Healthcare and digital health – Deeptek Inc., and expects to announce its fourth investment shortly”, said Vamesh Chovatia, partner, TCHF.
“TCHF II is seeking to invest across sub-sectors of pharmaceuticals, pharma and allied services, healthcare delivery, medical devices and equipment and digital health,” Chovatia said.
