Nihar Parikh Sets Up $75 Mn Fund To Back Healthtech Startups

Entrepreneur Nihar Parikh Sets Up $75 Fund To Back Early & Growth-Stage Healthtech Startups

SUMMARY

4Point0 Health Ventures will invest between $1 Mn and $2 Mn in early and growth-stage startups working in the healthcare segment

So far, the fund has backed Saveo, Fitterfly, Glaymo Health, and Eka Care

As a part of the investment, the fund will either join a startup’s board or sit on its advisory committee

Veteran entrepreneur Nihar Parikh has launched a $75 Mn healthcare-focused fund 4Point0 Health Ventures to back Indian startups. Prior to launching 4Point0, Nihar Parikh was leading his family-run business ZCL Chemicals which he sold to private equity fund Advent in 2021

4Point0 Health Ventures will invest between $1 Mn and $2 Mn in early and growth-stage startups working in the healthcare segment. So far, it has backed Saveo, Fitterfly, Glaymo Health, and Eka Care, according to the ET report.

Healthtech startups–Eka Care and Fitterfly have recently secured $15 Mn and $12 Mn Series A fundings respectively. While Saveo and Glaymo reportedly secured venture funding from 4Point0 in July this year.

As a part of the investment, the fund will either join a startup’s board or sit on its advisory committee.

In recent months, a slew of VC funds have been launched to back India’s startup ecosystem

According to Inc42 analysis, 78 funds were rolled out in the first half (H1) of 2022. These funds have a cumulative corpus of over $12.3 Bn. Of this, the top ten funds being launched in H1 2022 accounted for $8.3 Bn.

Most recently, crypto investing startup CoinSwitch set up a fund called Web3 Discovery Fund to back early-stage startups that are building blockchain solutions in the nascent web3 segment.

The fund aims to invest as well as incubate up to 100 Indian startups in the blockchain and web3 space.

During the same time frame, SPVH Group’s Weave Capital set up a $75 Mn VC fund to back early-stage and growth-stage startups. The fund also has a green shoe option of $25 Mn.

It will invest between $1 Mn to $5 Mn in portfolio companies, while new entrants (startups) to its portfolio will receive investments between $3 Mn and $3.5 Mn. It is aiming to back 15-20 startups across diverse sectors.

A few weeks back, PE company Lighthouse Funds was reported to be in discussions to raise $400 Mn for its new fund that will invest in fast-growing Indian consumer brands.