Eight Roads, a global investment firm backed by Fidelity, has launched its first dedicated India healthcare and life sciences fund worth $250 million, making it one of the largest pools of capital available for the sector in the country.
The firm has already made its first investment in physician-only platforms for a programmatic messaging firm Doceree via the new fund.
Eight Roads has been one of the active global investors in the region. With total assets under management of $1.6 billion in India, it has backed healthcare companies such as Laurus, LabsPharmeasy, Cipla Health, and Toothsi among others from its generalist fund.
In 2021 alone, Eight Roads made 12 investments in existing portfolios as well as new companies. It has backed over 60 companies across the healthcare and technology sectors. Beyond healthcare, the firm has backed over 30 technology companies in India, making 21 investments (including new and follow-on) in 2021.
The Eight Roads network constitutes a venture platform that now manages over $8 billion of capital across China, India, Japan, Europe, and the US.