Inviga Healthcare Fund raises $20M as first close
Bengaluru-based VC fund Inviga Healthcare Fund will support ventures in the segments of pharma and life sciences.
Inviga Healthcare Fund (IHF), the newly launched healthcare-focused private equity fund, raised $20 million as the first close.
Founded 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-entrepreneur in India, I have witnessed first-hand both the strengths and weaknesses of our healthcare system. Inviga Healthcare 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 entrepreneurs as primary drivers in the business.”
IHF 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 is co-founded by Raghavan Varadarajan and Gautham Nadig, professor and alumnus, respectively, of the Molecular Biophysics Unit at the Indian Institute of Science. The company was incubated at the FSID, IISc, Bengaluru.
Garg said, "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.”
Edited by Suman Singh