Somerset Indus near $ 275 million close to the third healthcare fund

Copyright © HT Digital Streams Limit all rights reserved. Mansi Verma 3 min read 09 Sept 2025, 12:31 PM The healthcare vertical is still relatively isolated from interest rate fluctuations, as opposed to the banking, financial services and insurance sector (BFSI). (Beeld: Pixabay) Summary The firm has already begun to deploy capital from the third fund, after investing in Cyrix Healthcare and Printmann Offset in December 2024, and evaluating a third investment in the coming months. Somerset Indus Capital Partners, a firm firm firm, focused on healthcare, will close its third fund about $ 275 million by October, with the support of existing and new Limited Partners (MPS), a top manager told Mint. The firm has reached its initial target, with already $ 250 million obligations. According to Mayur Sirdesai, partner at the firm, the final closure is expected next month, with Somerset exercising a green-shoe option of up to 10%, supported by some existing MPs from previous funds. “We have institutionalized more. Fund 2 was about 65% institutional capital and now we are almost 95%, with a mix of DFIs (development financing institutions) from India and overseas,” Sirdesai said on Tuesday. He said the fund has gained participation of existing and new MPs, including several European and US DFIs, a global investment business, European Institutions for Marquis, one of India’s largest financial banks, insurance companies, funds of funds, family offices and investors from Europe and Southeast Asia. The fund achieved its first closure in August 2024. Where he invests Somerset, investing in the first generation of entrepreneurs through growth equity examinations of $ 15-40 million, in domains such as health care delivery, pharmaceutical products and life sciences, medical devices, diagnostics and related sectors. The firm has about $ 500 million in assets under management (AUM) over three funds. The portfolio contains Ujala Cygnus hospitals, which expanded affordable care in the Northern India, and Krsnaa diagnostics, a provider of affordable diagnostic services. “We were on our way more than one and a half years, but our Fund 1 track record helped. We delivered a MOIC (multiple on investing capital) and 4x DPI (distributions to repayed capital) in ten years, and it made a difference,” Sirdesai said. The firm has already begun the deployment of capital from the third fund, after investing in Cyrix Healthcare and Printmann Offset in December 2024, and evaluates a third investment in the coming months. It is intended to do about ten investments from Fund 3 by the end of 2026, including follow -up bets in existing portfolio companies. Healthcare in the spotlight said sirdesai that healthcare is only from recession resistant to a sector with consistent exits. “Many sector-magnostic funds have about 20% in healthcare,” he noted, adding that peers are now treating it as a separate focus area. Within health care, Somerset keeps new subsegments into account. These include high-end diagnostics such as cancer testing, care and specialty clinics solutions, which, according to Sirdesai, said “almost like centers of excellence and often more profitable than multi-specificity hospitals”. Preventive care and well -being, including nutrition and digital health, also occur strongly, he added. While Somerset usually invests early and expands businesses, it is also open to more buyouts in collaboration with PEs that are on buy -out buying out. It recently invested in the hospital group Sterling in the vicinity of such a firm. With Fund 3, it plans to support organic and inorganic growth. “All our growth strategies are now combining,” Sirdesai said. A marting market the development comes because several PE and venture capital firms are in the market to raise fresh funds. TPG Newquest managing director Mamtesh Suga told Mint in August that India’s investment ecosystem is likely to see a growing appetite for concentrated continuation vehicles (CVS), including single-bassa CVs, over the next three to five years, as the market has already begun to show early signs of maturity. A resume usually helps investors to hold on to successful portfolio companies, or trophy assets, that need time beyond the fund’s life cycle to reach their full potential. CVs represent the evolution of the secondary market and are a kind of general partner (GP) transaction. Traditionally, the most common type of secondary transaction is an MP-led transaction, in which a limited partner sells their interest in a fund to another investor. Supporters also leaned to sector specialist strategies. Earlier this month, Mint reported that India is seeing an increase in thematic funds, which leads even sector-magnostic firms to build expertise in the sector. Catch all the corporate news and updates on live currency. Download the Mint News app to get daily market updates and live business news. More Topics #Private Equity #Healthcare Read Next Story