InvAscent's 4th India health PE fund to push AUM towards $1 bn

Healthcare-focused private equity firm InvAscent has launched its fourth fund that could push its assets under management (AUM) close to the $1-billion mark, three people aware of the development said.

- Debjyoti Roy & Anuj Suvarna

The PE firm, which has backed companies such as General Diagnostics, Gland Pharma, Dr Agarwal's Health Care and Neuland Labs in the past, is looking to raise between $300 million and $400 million for its new fund. The fund is close to announcing its first close, the people said on the condition of anonymity.

The PE firm had raised $250 million for its third fund, which hit the final close in 2019. Its second fund, India Life Sciences Fund-II, raised ₹875 crore ($146 million at the time) in September 2014.