India Venture Advisors, the healthcare corporate venturing unit of India-based Piramal said it was raising $111m for a fund to be launched by September.
Founded by industrialist Ajay Piramal and former State Bank of India chairman, AK Purwar, the investors in the fund will be Indian companies and high net worth individuals, according to news provider Financial Express.
India Venture Advisors manages $200m and has investments in C&C Construction and Kavery Medical Center and Hospital.