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India Digest: Asia Health in talks to acquire AINU; CapFort Ventures launches tech fund


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Asia Healthcare Holdings is in talks to acquire Asian Institute of Nephrology and Urology, while CapFort Ventures has launched a $24.3-million India-focused tech fund with a focus on pre-Series A companies.

Asia Health in talks to buy 70% stake in AINU

India-based investment platform Asia Healthcare Holdings is in talks to acquire kidney care hospital chain Asian Institute of Nephrology and Urology (AINU), according to The Economic Times.

Asia Healthcare Holdings is considering acquiring about 70% stake in AINU at a valuation of INR500-520 crore, while the current management will continue to operate the business, The Economic Times reported.

Incubated by TPG Growth in 2016, Asia Healthcare Holdings focuses on India and South Asia, targeting investment opportunities in single-specialty healthcare businesses and leveraging its experienced management team to deliver operational expertise to its portfolio.

Singapore’s sovereign wealth fund GIC invested $170 million for a minority stake in Asia Healthcare Holdings last year.

CapFort launches $24.3m India-focused tech fund

India-based micro VC fund CapFort Ventures has launched a $24.3-million India-focused tech fund with a focus on pre-Series A stage companies.

The fund will invest in 40+ startups with a valuation within INR100 crore over the next two years. Abhimanyu Bisht, the former CEO of Venture Catalysts; and Kavit Sutariya, the founder of Hiraco Ventures, will lead the fund.

The first close of the fund is expected to take place by the end of the year, with investments across key technology domains covering deeptech, cleantech, B2B tech, logistics, healthtech, and other impact-oriented sectors.

The firm expects that the majority of its capital will be sourced from domestic investors, with participation from institutional investors, family offices, and ultra HNIs. A greenshoe option of INR100 crore is also available, in case additional interest is received from investors.

CapFort Ventures is a stage-focused VC fund which intends to invest in founders building the future of India through their technology-driven startups.

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