
Private sector YES Bank has signed an MoU with a leading the Netherlands-based private equity house to set up a 75-100 million dollar health care fund catering to the Indian market within the next nine months.
The Netherlands-based equity house will run the fund, for which YES Bank would be the advisor.
This would be its first Asian foray for the fund-house, which is currently Europe-centric.
Christened the India Health Care Fund, the resources for this fund would be raised from off-shore sources in Europe. "The signing of the MoU is the first step. Now we will finalise our capital-raising strategy and we should be ready for investment within the next nine months," he said.
The fund will invest in emerging and rapidly-growing pharma and bio-tech companies in the country, especially in the R&D and clinical research segments.
"We will seek to promote Indian entrepreneurial talent in these segments," Kapoor revealed.
In keeping with YES Bank's strategy to target high-growth emerging sectors, the bank also plans to enter the sports segment by providing structured finance products for building stadiums and training centres.
Source:PTI News