Middle East’s Hades Financial eyes deeptech, SaaS investments in India

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Mint.“We’re very bullish on India’s growth story. One of the biggest advancements I have seen is that infrastructure is improving and the economy is growing robust which has led to the emergence of innovative companies, especially in deeptech," Chaturvedi said.Hades—which is sector-agnostic—invests directly in companies and indirectly through fund managers.

The Saudi Arabia-headquartered firm is also eyeing a few bets in SaaS through investments in fund managers focusing on the sector, as well as private equity firms focused on scaling up institutions in the infrastructure and automobiles sectors, Chaturvedi added.The $28 million capital infusion is part of Hades Financial’s bigger aim to capitalize on emerging opportunities in the Indian landscape. Since 2016, Hades Financial has deployed over $150 million in the region across sectors including healthcare and financial services among others.Hades Financial has invested in Somerset Indus Capital Partners and Cedar IBSi.

Somerset Indus Capital Partners is a healthcare-focused private equity firm that has backed nearly 14 companies including Apex Hospitals and Emil Pharmaceuticals and has raised more than $100 million till date. Cedar IBSi is a strategy consulting and research firm focused on the financial services sector.Somerset has been successful in identifying areas in the country, particularly tier 2 and tier 3 cities, that lack strong healthcare infrastructure, according to Chaturvedi, helping Hades Financial pick a long-term bet.

Cedar, similarly, helps the firm go deeper into India’s banking industry.Over the last five years, the deeptech sector in India has been mostly underserved. A large portion of global investors continue to look at sectors that have a larger