HealthXCapital Merges With Jungle Ventures

SUMMARY

The HealthXCapital team will lead Jungle Ventures’ healthcare investments in India and Southeast Asia

HealthXCapital has invested in around 10 healthtech startups, including RED.Health, Homage, Medfin and THB

Jungle Ventures has invested around $250 Mn till date and counts Indian startups like Livspace and Moglix in its portfolio

Singapore-based healthech investor HealthXCapital (HXC) has merged with marquee venture capital (VC) firm Jungle Ventures, which counts Indian startups like Livspace and Moglix in its portfolio.

The HXC team will lead Jungle Ventures’ healthcare investments in India and Southeast Asia, a statement said.

Founded in 2018 by Seemant Jauhari, HXC has invested in around 10 healthtech startups, including RED.Health, Homage, Medfin and THB. The VC firm offers capital, clinical validation and commercialisation through strategic investors from the industry.

Commenting on the development, Amit Anand, founding partner of Jungle Ventures, said, “We are very excited to welcome the HealthXCapital team to Jungle Ventures as we continue to broaden our diverse portfolio and strengthen our position in healthcare and build upon our existing investments in the sector.”

As part of the deal, Jauhari will join Jungle Ventures as a partner for the healthcare vertical.

The HealthXCapital managing partner said, “It is indeed an exciting time to be a part of Jungle Ventures and lead the healthcare sector-focused investments in India and Southeast Asia. I believe that by converging outside-in perspectives derived from investing across sectors and our nuanced understanding of healthcare, we shall be able to bring forth a unique strategic and operational value add to healthcare startups in the region.”

The move comes months after Jungle Ventures announced the closure of its $600 Mn Fund IV, consisting of $450 Mn in the main fund and $150 Mn in additional managed commitments. The VC firm then said it would make around 15-18 investments across startups based in India and Southeast Asia from the new fund.

The acquisition of HXC comes as Jungle Ventures has been increasingly active in the Southeast Asian market. It has backed 36 startups in Southeast Asia so far. Even so, the VC firm has not invested in any healthtech startups so far and instead backed SaaS, B2B and consumer services startups.

The VC firm has a portfolio of companies with an enterprise value of over $12 Bn and has invested around $250 Mn till date.

Some recent investments by the VC firm include Atomberg, BetterPlace, NirogStreet and NIC, having participated in growth rounds of all four startups.