Healthtech investor HealthXCapital merges into Jungle Ventures
Jungle Ventures on Wednesday said it has merged HealthXCapital – a city based-fund in which it is an anchor investor – with itself to kickstart its healthtech foray. Following this move, the $20 million HealthXCapital — with investments in Red Health (formerly StanPlus), Medfin, and THB — will now join Jungle Ventures’ portfolio. The latter is currently investing out of its fourth fund, which boasts a $600 million corpus.
Two investment professionals from HealthXCapital’s team – Seemant Jauhari, managing partner and Jimit Patel, senior associate – will be joining Jungle Ventures too, Jauhari told ET. Jauhari also said that he has been made a partner for the healthcare vertical. “Moving forward, the HealthXCapital (HXC) team will lead new investments only through Jungle Ventures,” Jungle Ventures’ founding partner Amit Anand told ET.
He declined to comment on the financial terms of the merger. Jungle Ventures invests in early- to growth-stage companies in Southeast Asia and India. Its portfolio includes Moglix, Livspace, Builder.ai and Atomberg.
“The HXC team is graduating from having a smaller pot of capital and being able to only help fewer companies to now working on a larger platform and going after the same spaces and doing much more there,” Jungle Ventures’ founding partner Amit Anand told ET. HXC has completely deployed its $20 million corpus. Apart from Jungle Ventures, Apollo Hospitals is also a limited partner in HXC.
On whether the LPs will retain their positions in Jungle Ventures, Anand said, “Not really. Some of them will decide whether they want to become an LP. We are not also raising a new fund… what happens with those LPs and how we collaborate will play out in the future.” Members of HXC’s advisory
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