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Tata Capital eyes second healthcare PE fund next year

Tata Capital Healthcare Fund (TCHF) is planning to raise its second fund by next year which would be larger in size than the existing one, Mint reported citing a senior executive of the company.

TCHF, which had raised its $75 million maiden investment vehicle 'Tata Capital Healthcare Fund I', is currently in the process of deploying capital from the first fund.

The fund, managed by Tata Capital, has already deployed about 75 per cent of the first fund across six transactions and is expected to invest the remaining in two transactions over the next six months, Visalakshi Chandramouli, partner at TCHF, told the paper.

Email queries sent to the company did not elicit a response till the time of publishing this report.

The fund's Limited Partners (or LPs who are investors in PE funds) had additionally brought in $15 million as co-investments in the portfolio firms. It counts Swiss fund HBM Healthcare Investments Ltd, a global fund focused on life sciences, as its anchor investor.

The fund, which invests between $5-15 million per transaction, is also mulling to exit a few of its investments before raising the new fund.

It has so far invested in Sandor Nephro Services Pvt Ltd, Amanta Healthcare Ltd, Pune-based Novalead Pharma Pvt. Ltd, Lokmanya Hospitals Pvt Ltd and Shriji Polymers India Ltd.

TCHF, which focuses on growth capital investment in companies operating in pharmaceutical space, contract research/manufacturing, healthcare services, medical devices, diagnostics and other healthcare sectors, is one of a string of separately managed PE funds by Tata Capital.

Other funds managed by the company are Tata Capital Growth Fund, Tata Capital Innovations Fund, Tata Capital Special Situations Fund-Trust and Tata Opportunities Fund.

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