Tata Capital raises Rs955 cr via PE fund

Mumbai: Tata Capital on Monday announced Rs955 crore fundraise by a private equity arm for investing in healthcare companies. The Tata Capital Healthcare Fund II (TCHF II) achieved a final closure of its fund with investor commitments of Rs955 crore or $126 million, a statement by Tata Capital said.

The offering is a follow-up to the Tata Capital Healthcare Fund I which had raised Rs411 crore in 2012. The second fund has garnered commitments from domestic and international financial and strategic institutions including some of the global pharma, medical equipment companies, development financial institutions and large European institutions, it said, adding Government of India has also committed money through the Self Reliant India fund. TCHF II will principally be taking equity positions in healthcare and life sciences related companies having significant business exposure to India, its managing partner Visalakshi Chandramouli said.