Entrepreneur Nihar Parikh sets up $75 Mn healthcare-focused funds
- ByStartupStory | August 11, 2022
Nihar Parikh, a veteran entrepreneur, has formed 4Point0 Health Ventures, a $75 million healthcare-focused fund to support Indian companies. Nihar Parikh formerly led his family-run firm ZCL Chemicals, which he sold to private equity fund Advent in 2021. 4Point0 Health Ventures will invest between $1 million and $2 million in early and growth-stage healthcare firms. According to the ET article, it has so far supported Saveo, Fitterfly, Glaymo Health, and Eka Care.
Healthtech businesses Eka Care and Fitterfly have raised $15 million and $12 million in Series A investment, respectively. In July of this year, Saveo and Glaymo allegedly received venture money from 4Point0. As part of its investment, the fund would either join the board of directors of a company or serve on its advisory committee. A spate of venture capital funds has been formed in recent months to support India’s startup environment.
In the first half (H1) of 2022, 78 funds were launched. These funds have a combined corpus of more than $12.3 billion. The top 10 funds launching in H1 2022 contributed $8.3 billion of this total. Recently, crypto investment company CoinSwitch established the Web3 Discovery Fund to support early-stage entrepreneurs developing blockchain solutions in the fledgling web3 area. The fund intends to invest in and develop up to 100 Indian entrepreneurs in the blockchain and web3 sectors.
During the same period, SPVH Group’s Weave Capital established a $75 million venture capital fund to support early-stage and growth-stage firms. The fund also offers a $25 million green shoe option. It will invest between $1 million and $5 million in portfolio firms, while new entrants (startups) to the portfolio will get between $3 million and $3.5 million. It intends to fund 15-20 companies from various industries. Lighthouse Funds was rumored to be in talks to raise $400 million for a new fund that would invest in fast-growing Indian consumer brands a few weeks ago.
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