Eight Roads allocates $250 million in funds dedicated to healthcare & life sciences
- ByStartupStory | May 17, 2022
Eight Roads, a worldwide venture company upheld by Fidelity, has sent off its first devoted Indian health care and life sciences asset of $250 million, making it the biggest pool of capital accessible to the sector in the country.
Prem Pavoor, senior accomplice, head of India, and health care investments at Eight Roads Ventures said that the healthcare sector in the country is at the tipping point as countries like China and the US have already witnessed that. However, the area has been a pillar for the firm for the last 10 years and around 50% of that has been dynamic in India, this is the proper time for a dedicated sector-focused capital.
He further added that the firm will make early growth stage bets on organizations that can go up to $40 million in a venture. It will hope to move to around 15-20 organizations in life sciences, health care administrations, customer well-being, and computerized well-being areas. He also said that the company is hoping to deploy this capital over the course of the following three to four years.
It has been a global investor and has backed up health care companies like Laurus Labs, Pharmeasy, Cipla Health and Toothsi with total assets under management of around $1.6 billion. In 2021 alone, Eight Roads made 12 interests in the existing portfolio as well as new brands. It has supported more than 60 companies across its two fundamental areas of focus – health care and technology. Beyond health care, the firm has supported more than 30 technology scale-ups in India, making 21 ventures (counting new and follow-on) in 2021.
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