US venture capital firm Venrock Associates has raised a $194 million fund to invest in healthcare companies. The fund is looking to invest in both late stage and public companies through this fund. With the close of Venrock Healthcare Capital Partners, the firm has approximately $2.2 billion under management. The fund was originally established as the venture arm of the Rockefeller family.
The fund may also look at India opportunistically. "The new fund will invest mainly in US companies, but there is an allocation with no specific geographic focus, which could be invested outside the US," said a company spokesperson in an email response to VCCircle's query.
Venrock has been investing in the healthcare sector since the 1980's and its historical portfolio includes five of the largest U.S. biotech companies ever founded.
Most of the US venture firms in India like Sequoia Capital, Lightspeed Venture Partners, Mayfield Fund, etc. also invest in late stage and public enterprises. Also Venrock is not new to India. It has invested in Hyderabad-based Hellosoft, a product solutions company focused on voice over Internet protocol, as part of a consortium of investors back in 2005.
Venrock has a partner based out of US, Dev Khare, who looks at investments in India. Venture capital investors in India have also been increasingly looking at healthcare sector and companies serving the healthcare space.