New PE fund on the anvil for healthcare, financial services sectors

A $150 million private equity (PE) fund focussed on healthcare and financial services sector will soon be launched as the process of getting the professionals on-board is on, said a top investor.

"The $150 million PE fund is in the process of being launched. There will be foreign investors as well while I will be the anchor investor," G.S.K. Velu, founder and managing director of Trivitron Healthcare, said on Wednesday.

The city-based over Rs.700 crore Trivitron Healthcare group is primarily into the manufacture of medical equipments-on its own or in joint venture with a foreign company.

According to Velu, talks are on with the foreign investors and an announcement will be made by the fund's managing partner.

On reason for floating a PE fund, Velu said he has understood the philosophy as well as the points that PE investors would look at a company in which they are investing.

He said that at Trivitron, there were seven rounds of PE investments.

"The fund may also provide an exit route to other PE funds. Not all PE's exit through an initial public offering (IPO)," Velu said.

Velu was one of the co-founders of diagnostic lab chain Metropolis and exited selling his stakes to a PE.