As First Close, Inviga Healthcare Fund Secures USD 20 Mn The Bengaluru-based fund aims to support healthcare and pharmaceutical/life science enterprises throughout the entire value chain.
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Inviga Healthcare Fund (IHF), the newly launched healthcare-focused private equity fund, secured USD 20 million as its initial close.
The Bengaluru-based fund was established by HealthCare Global Enterprises Executive Chairman Dr. B. S. Ajaikumar and Ajay Garg, Founder and Managing Director of Equirus Capital. The Bengaluru-based fund aims to support healthcare and pharmaceutical/life science enterprises throughout the entire value chain.
Dr. Ajaikumar said, "In my over 35 years as a doctor-BIZ Experiences in India, I have witnessed first-hand both the strengths and weaknesses of our healthcare system. Inviga Health Fund is my response which embodies my desire to provide high-quality egalitarian healthcare to all sections of society, while supporting and positioning doctor/healthcare BIZ Experiencess as primary drivers in the business.
"Through our investments, we will support the blossoming Indian healthcare BIZ Experiences ecosystem, foster clinical excellence, focus tenaciously on quality of outcomes, drive deep social impact, and help build businesses on sustainable vectors," he added.
Inviga Healthcare Fund made its maiden investment in biotech startup Mynvax, which focuses on developing novel recombinant vaccines for human respiratory viral diseases, including seasonal influenza and COVID-19.
Mynvax was co-founded by Raghavan Varadarajan and Gautham Nadig, professor and alumnus respectively, of the Molecular Biophysics Unit at the Indian Institute of Science.
Ajay Garg, Co-founder, Inviga Healthcare Fund, added, "We see the prospect of transforming the Indian healthcare landscape in a meaningful way, one investment at a time. A doctor-driven thematic healthcare and life sciences fund in India is a rarity. This gives us a unique vantage point that helps transcend critical technical barriers that otherwise typically exist between healthcare BIZ Experiencess and their financiers,and creates win-win situations that not only benefit the business and investors, but also contribute significantly to the progress of Indian healthcare."
