Elara Capital To Enter PE Space With Healthcare Fund
Elara Capital, the UK-based financial services major with a strong Indian presence, is set to enter the private equity (PE) space. The company is in discussion with a Dubai-based financial major to launch a healthcare fund soon.
Elara Capital Plc, a registered foreign institutional investor (FII) in India, manages several funds including Elara India Gateway Fund, domiciled in Luxembourg, and Elara India Opportunities Fund Ltd (EIOF), domiciled in Mauritius.
The healthcare fund will have its focus on India, other south-east Asian countries, West Asian countries and Africa. According to sources, the size of the offshore fund could be between $250-300 million.
| IN GOOD HEALTH Healthcare-focused funds currently in the market |
|||
| Funds | Size ($ mm) |
Amount raised ($ mm) |
Year of launch |
| India Venture Fund I | 81 | 81 | 2008 |
| Spring Healthcare Fund | 67 | 67 | 2009 |
| Access India Fund I | 150 |
NA |
2010 |
| Tata Capital Healthcare Fund | 130 | 24.46 | 2010 |
| Asian Healthcare Fund | 200 | 33 | 2010 |
| Somerset Indus Healthcare Fund I | 40 | 25 | 2011 |
| Source: VCCedge | |||
Raj Bhatt, vice chairman & CEO, Elara Capital, says, “Healthcare is one of the potential investment destinations in India. There is tremendous growth in the space and capital expenditure is still low in India”.
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