Latest News | LSV Capital Earmarks USD 70 Mn for Indian Start-ups, Opens Local Office

New Delhi, Sep 18 (PTI) The UK-based Life Science Vision Capital on Friday said it has earmarked USD 70 million initially for investment in digital healthcare and life science start-ups.

The company also set up its first office in Bengaluru to have closer interaction with start-ups in the country.

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"We have a corpus of USD 70 million for an India-specific fund. We are committed to growing our presence in the Indian market, building collaborations with domestic healthcare and life science leaders," LSV Capital Managing Partner Shu Joshi said in a statement.

The investment has received a commitment of up to 50 per cent for the corpus.

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The company is looking to hire senior-level associates in life sciences to join the firm for its India office which will be operational by early-2021.

LSV Capital has already been investing in India remotely since 2019. Earlier this year, the firm partnered with Aster DM Healthcare and Social Alpha to launch Xhealth Innovation Labs, a global digital healthcare and medtech accelerator.

"Typically, we see the greatest hurdles in a life sciences or digital healthcare start-ups journey as they scale from local success to global challengers, and then again when they go on to become category leaders," Joshi said.

He added that both inflection points require specific and deep organisational strength, proven talent, GTM partnerships, and global investors.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)