 "Kotak Alternate Asset raises Rs 250 cr in first close of Life Sciences Fund")
Kotak Alternate Asset Managers, part of the Kotak Mahindra Group, announced the first close of its Rs 1,600 crore Kotak Life Sciences Fund.
The fund, classified as a Category II Alternative Investment Fund (AIF), raised Rs 250 crore from a mix of family offices, ultra-high-net-worth individuals (UHNIs), industry veterans, and institutional investors, according to a company press release.
The Kotak Life Sciences Fund aims to deploy capital in early-to-growth-stage companies across life sciences, including pharmaceuticals, biotechnology, medical devices, digital health, consumer wellness, diagnostics, and healthcare delivery.
“Life Sciences is a core sector where the firm deploys capital across the lifecycle of the company, early, growth, and late stage. Kotak Life Sciences Fund will focus on backing companies built for the next 10 years wherein the intent is to support companies in their early days of growth, and the infusion of capital can not only accelerate their progress but also help them differentiate themselves,” said Ashish Ranjan, Director, Private Equity, Kotak Alternate Asset Managers.
The company, in the past 24 months, has deployed close to Rs 4000 crore in the segment, across different pools of capital.
Kotak Alternate Asset Managers, established in 2005, manages over $22 billion across asset classes, including private equity, real estate, infrastructure, and special situations.
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“We are delighted by the response to the first close of our Life Sciences Fund. As an asset manager, we remain committed to providing our investors and channel partners access to differentiated strategies in line with our structural positive view on various themes,” said Lakshmi Iyer, CEO, Investment & Strategy, Kotak Alternate Asset Managers.
(Disclosure: Entities controlled by the Kotak family have a significant holding in Business Standard Pvt Ltd)