Kotak Alternate Asset Managers Ltd. has announced the first close of its Kotak Life Sciences Fund, a private equity vehicle that targets investments in India’s healthcare and life sciences sector. The fund has raised Rs 250 crore ($30.2 million) from family offices, institutional investors, ultra-high-net-worth individuals, and industry executives, and aims to back early- to growth-stage companies across pharmaceuticals, biotechnology, medical devices, digital health, and diagnostics.
The fund’s strategy is to support high-potential companies in their formative years, with a focus on businesses that can innovate and scale over the next decade. Kotak Alternate Asset Managers has been an active investor in life sciences, deploying nearly Rs 4,000 crore across healthcare-related ventures over the past two years.
Kotak Mahindra Group, the parent company of Kotak Alternate Asset Managers, has been actively investing in the healthcare and life sciences sectors through its mutual funds and private equity arms. The firm has made notable investments in several companies in the life sciences space, including Ahammune Biosciences Pvt. Ltd., Immuneel Therapeutics Pvt. Ltd., Niramai Health Analytix Pvt. Ltd., Monitra Healthcare Pvt. Ltd., and Eyestem Research Pvt. Ltd.
The firm’s CEO, Lakshmi Iyer, expressed satisfaction with the response to the fund’s first close, stating that it underscores investor confidence in Kotak’s track record and the structural opportunities in the healthcare sector. Ashish Ranjan, director of private equity at Kotak Alternate Asset Managers, emphasized that life sciences is a sector where the firm sees immense potential for long-term growth, and its focus is on businesses that can innovate and scale over the next decade.
Kotak Alternate Asset Managers manages assets across private equity, real estate, infrastructure, and credit, with over $22 billion under management. The firm’s investment in the life sciences sector is part of its overall strategy to support the development of innovative and scalable businesses in key sectors.