HCG founder floats $20 million healthcare and life sciences fund
BS Ajaikumar, founder and executive chairman of specialty cancer care chain HealthCare Global Enterprises (HCG), on Wednesday launched a thematic healthcare and life sciences fund with an initial corpus of $20 million ('166 crore).
While the oncologist-turned-entrepreneur contributed 90% of the corpus for the Inviga Healthcare Fund, the remaining 10% is from Equirus Capital founder and managing director Ajay Garg.
The fund will invest up to '40 crore in equity and provide strategic expertise to early-stage and mid-level companies of Indian clinicians, scientists and entrepreneurs, Ajaikumar said.
«Through the Inviga Health Fund, we will support Indian doctors, scientists and healthcare entrepreneurs, to help them grow professionally and reach their potential by addressing funding or operational issues that may be preventing this,» Ajaikumar told ET.
On Wednesday, it announced its first investment of $2 million in Mynvax, a biotech startup focused on developing novel recombinant vaccines for human respiratory viral diseases, including seasonal influenza and Covid-19.
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