Oncologist turned entrepreneur Dr BS Ajaikumar, co-founder and CEO of (HCG), has announced the launch of a healthcare fund worth $20 million.
The healthcare-focused private equity-style fund, called Inviga Healthcare Fund, is aimed at supporting growth-stage healthcare companies. Kumar has teamed up with Ajay Garg, founder and managing director of financial services firm Equirus Capital, to set up the fund.
It has also made a maiden investment of $2 million in Mynvax, a biotech start-up focused on developing novel recombinant vaccines for human respiratory viral diseases, including seasonal influenza and COVID-19.
“I have witnessed first-hand both the strengths and weaknesses of our healthcare system. Inviga Health Fund is my response which embodies my desire to provide high-quality egalitarian healthcare to all sections of the society while supporting and positioning doctor/healthcare entrepreneurs as primary drivers in the business. Through our investments, we will support the blossoming Indian healthcare entrepreneur ecosystem, foster clinical excellence, focus tenaciously on quality of outcomes, drive deep social impact, and help build businesses on sustainable vectors,” said Dr BS Ajaikumar.
Inviga will support healthcare and pharmaceutical, and life science enterprises throughout the entire value chain, utilizing its extensive sector-specific knowledge, global connections, and a distinctive blend of entrepreneurial, clinical, investment, banking, and executive management expertise.