India Ventures to float Rs 1,000-cr healthcare fund

Jul 21 2013, 16:01 IST
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SummaryAjay Piramal Group promoted India Venture Advisors, a healthcare focused venture capital, is planning to launch a Rs 1,000 crore fund.

Ajay Piramal Group promoted India Venture Advisors, a healthcare focused venture capital, is planning to launch a Rs 1,000 crore fund.

"We are looking at Rs 1,000 crore fund, of which Rs 500 crore will be from overseas investors to invest in the Indian health-care market," India Ventures Advisors President Sanjay K Randhar said.

He said the existing Rs 400 crore has been completely invested or committed and a new fund will be unveiled.

"We will be the sponsors of the fund, but we cannot disclose how much we will put in the fund," Randhar said during his brief visit at a CII organised health-care summit here.

The company has focused on some early stage hospitals with strong local presence mainly in south and western India.

He said that Tier-II and Tier-III cities will drive the next phase of growth in healthcare in India.

This is a market that had huge potential for expansion in quality healthcare, he said.

With the Reserve Bank having classified the health-care industry as part of the infrastructure sector, long-term loans of a term period of 12 years are now available for the sector, Randhar said.

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