Singapore-based, healthcare-focused venture capital firm HealthXCapital has launched a $25m fund backed by limited partners including hospital operator Apollo Hospitals, E27 has reported.
Eight Roads Ventures, a subsidiary of financial services and investment firm Fidelity International, is also among the LPs, as is venture capital firm Jungle Ventures and undisclosed additional investors.
The fund will back healthcare technology developers based in high-growth Asian regions such as South and Southeast Asia, favouring opportunities that could benefit health outcomes in those societies.
Target areas for the fund include digital health, medical devices, diagnostics and artificial intelligence. It has already invested in on-demand social care provider Homage, medical diagnostics app developer JanaCare and iNicu, which is working on analytics systems for neonatal intensive care departments.
Seemant Jauhari, partner at HealthXCapital, said: “Asia faces significant healthcare challenges such as underdeveloped infrastructure, affordability of treatments, lack of proactive healthcare and opaque data management amongst others.”