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Mar, 03 2018

IQGEN raises First health-tech VC fund for India and Other Markets

Founder and managing partner Aman Iqbal said the Vantage fund aims to invest in technology-driven healthcare companies in India and other Asian nations.

IQGEN Holdings LLC has marked the final close of its maiden venture capital fund at $25 million (Rs 163 crore), a top executive at the healthcare investment and advisory firm said.

Founder and managing partner Aman Iqbal said the Vantage fund aims to invest in technology-driven healthcare companies in India and other Asian nations.

He said without revealing the names, the limited partners, or investors, in this fund include foreign high-net-worth individuals and family offices.

He said the fund, which is registered in Cayman Islands and has an office in Hyderabad, aims to invest in countries including India, Malaysia, Singapore and Taiwan. There is no specific allocation for India and other regions.

Within the healthcare segment, Vantage will focus on investing in telemedicine, data analytics in diagnostics, artificial intelligence in medicine, robotics in surgery, wellness and health insurance.

Iqbal said, “The big wave of innovation is just hitting India and Asia when it comes to both the timing and growth of a pool of some exceptional companies led by brilliant entrepreneurs. The fund will begin looking for deals by early summer.”

The fund will primarily participate in pre-Series A and Series A rounds of companies. It aims to invest $1-5 million (Rs 6.5-32.6 crore) each in its target companies.

He said, “We would like to be major shareholders or lead investors in a few exceptional companies. The fund has plans to invest in companies in collaboration with governments and key organisations that it has connections to in the region.”

Iqbal further said, “With Vantage, IQGEN aims to establish itself as the one-stop shop for healthcare in India and Asia.”

Incorporated in 2014, IQGEN has kept a low profile in the healthcare segment by offering advisory services to global organisations, carrying out due diligence for major venture capital and private equity firms, and doing equity research.

IQGEN also aims to support a healthcare accelerator in Hyderabad and wants to set up a think tank this year to publish a white paper on emerging areas, in partnership with private equity and merger and acquisition advisory groups.

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