Entrepreneur Nihar Parikh Sets Up $75 Million Fund To Back HealthTech Startups
Nihar Parikh, a veteran entrepreneur, has launched a $75 million healthcare-focused fund-4Point0 Health Ventures to back Indian startups.
First reported by ET, the fund will invest between $1 Mn and $2 Mn in early and growth-stage startups working in the healthcare segment.
Nihar Parikh | 4Point0 Health Ventures
So far, 4Point0 Health Ventures has funded multiple healthtech startups, including Saveo, Fitterfly, Glaymo Health, and Eka Care. While in July this year, Saveo and Glaymo reportedly secured venture funding from 4Point0.
Before launching 4Point0, Nihar Parikh was leading his family-run business- ZCL Chemicals (formerly Zandu Chemicals) which he sold to private equity fund Advent in 2021.
As per Nihar, the health tech sector is still in its nascent stage and is yet to mature.
Speaking on the development, Nihar Parikh said,
“When we started mapping the entire landscape of health tech companies in India, surprisingly, more than 98% of the firms were in the early stages, and only a handful had crossed Series B and above. In that, a majority were e-pharmacy firms which I don’t consider as healthtech because those are ecommerce platforms.”
4Point0 Health Ventures wants to invest anywhere between $1-$2 million in seed to Series B financing rounds. Nihar Parikh stated that, depending on the shareholding, the fund would either take a board seat or sit on the startup’s advisory committee.
Recently, healthtech startups– Eka Care and Fitterfly have raised $15 million and $12 million in Series A fundings, respectively.
In terms of healthtech investments, India is among the fastest-growing destinations. As per a report, healthtech investments by VCs in India have surged ten times ($190 million in 2016) over the last five years.
In 2022, several healthtech startups, including Kochi -based Evelabs Technologies, Bengaluru-based connected healthtech platform Eka Care, Mumbai-based telehealth platform Truemeds, Gurugram-based Curelink, and Bengaluru-based Dozee, had raised funds.
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