Healthcare-focused growth fund Jashvik Capital completes first close of maiden fund

India-focused growth private equity (PE) firm Jashvik Capital said it has achieved the first close of its maiden fund. The company did not disclose the amount it raised in the first close. With a target corpus of $350 million, the fund aims to back profitable growth businesses in large addressable markets in healthcare, pharma and consumer sectors in the country.

“We are grateful for the trust and confidence our limited partners have placed in us. India has a large number of small and medium sized businesses that are resilient, profitable and growing and that have stood the test of time. We have an opportunity to invest into these businesses and strengthen and scale them meaningfully,” Naresh Patwari, Founder of Jashvik Capital, said.

Naresh has previously worked with TA Associates, McKinsey & Company, Schlumberger and ICICI Venture.

“India presents an attractive option for investors globally. We are likely to be the fastest growing large economy for at least the medium term, if not longer. The policy framework is stable and continually improving. Businesses are feeling confident about the future and willing to invest for growth. If we are buying in the next 1-2 years, we will likely see margin expansion by the time we look to exit. Finally, as India PE continues to mature, the quality and depth of liquidity options will continue to improve on a strong baseline. It is an exciting time for Indian private equity,” he added.

The SEBI (Securities and Exchange Board of India) registered, Category II Alternative Investment Fund (AIF), announced in July this year, expects to make its final close within a year. It will invest with a ticket size ranging from $10-50 million.

In August, the fund had announced the appointment of Anil Matai, former Managing Director of Zydus Healthcare and Vijender Singh, former Chief Executive Officer of Metropolis Healthcare as Operating Partners. Business Today