360 ONE Asset bets big on health care, technology, and financial services

Nath said its secondaries fund is India's first which is addressing a massive, untapped market, building on a strong relevant track record

360 ONE Asset, the private equity (PE) and venture capital (VC) fund, has launched Secondaries Fund with a base size of Rs 4,000 crore and it has already crossed the halfway mark, Sameer Nath, chief investment officer (CIO) & head of PE-VC of the firm said here on Tuesday.

The fund has identified healthcare, financial services, consumer retail and technology for investments.

“We have already closed six investments providing visibility into 20-25 per cent of the portfolio,” Nath said.

The VC & PE business of the firm has around Rs 23,404 crore in assets under management (AUM), extending from mid-stage to late-stage venture capital to growth equity and pre-IPO investments.

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The firm has invested in 101 companies so far and of these 30 have emerged Unicorns with a valuation of $1 billion and above.

The firm is an investor in several marquee companies, including Swiggy, National Stock Exchange and PharmEasy, among others.

Nath said its Secondaries Fund is India’s first one that is addressing a massive, untapped market and building on a strong relevant track record.

The strategy and early-mover advantage have been appreciated by a range of sophisticated investors, Nath said.

The fund has also launched India’s first dedicated healthcare scheme, building on a strong track record.

It has collaborated with five healthcare pioneers, including Ranjan Pai, chairman of Manipal Hospitals, who are anchor investors in the fund that comprises a high-powered advisory board.

The fund has a diversified portfolio and deal pipeline spanning healthcare providers, health-tech, diagnostics and life sciences.

The fund’s second investment is about to close with a term sheet signed for the third investment, Nath said.