By: IPP Bureau
Last updated : May 17, 2022 9:56 am
This new fund is amongst the largest for the sector in India
Eight Roads a global investment fund has announced its first dedicated US$250 million healthcare and lifesciences fund for India. The US $ 250 million fund continues to build on the company’s global focus on healthcare and technology.
The new fund will continue to focus on early to growth-stage investments in life sciences, healthcare services, consumer health and digital health. With this new fund, the team will make minority investments in a further 15 to 20 ambitious companies looking at both smaller investments as well as investments up to US $ 40 million.
Daniel Auerbach, Senior Managing Partner and Head of Global Ventures at Eight Roads Ventures said: “Eight Roads has backed innovative businesses in India since 2007. The launch of this healthcare fund reflects our confidence in the evolution of the India market and our commitment to help ambitious founders scale. The Eight Roads network constitutes one of the largest venture platforms in the world, which now manages over US $ 8 billion of capital across China, India, Japan, Europe and the US. This ecosystem lends us capacity and scale, setting up powerful efficiencies, deep domain expertise, and the ability to trace trends and understanding across geographies.”
The company’s healthcare portfolio in India includes category leaders such as Laurus Labs (among the world’s largest manufacturers of antiretroviral active ingredients), API Holdings - the parent company of PharmEasy (India’s largest e-pharmacy platform), Cipla Health (one of very few pure-play consumer health companies), Caplin Steriles (leading manufacturer of injectable drugs for the regulated markets), Ashish Life Science (with India’s first EU-GMP approved animal pharmaceuticals facility), Immuneel Therapeutics (India’s first cellular immunotherapy company), Plasmagen Biosciences (a top 3 provider of blood plasma products), CareStack (leading provider of practice management software for US dental clinics) and Toothsi (the market leader in clear dental aligners).
Dr. Prem Pavoor, Senior Partner, Head of India & Healthcare Investments at Eight Roads Ventures commenting on the new healthcare fund for India: “Today is our day one, as we deepen our commitment to the healthcare sector in India. We have had the privilege of partnering with some of the best healthcare entrepreneurs in the country to build category defining businesses. Our aspiration is to continue backing such bold founders as India leapfrogs many other markets in delivering high-quality healthcare infrastructure, products and services. We are grateful to our founders, partners and the Fidelity ecosystem, for providing long-term and patient growth capital for our companies.”