Catamaran Venture Fund, Reliance Venture Asset Management, US-based BlueCross BlueShield Venture Partners and few angel investors have invested Rs.20.5 Cr in Mumbai-based Wellspring Healthcare Pvt Ltd in its first round of funding.

Wellspring will use the funds to create a chain of clinics under the brand name of 'Healthspring Community Medical centres' in Mumbai and roll it out nationally later.

Transaction Reference: Economic Times

Wellspring Healthcare was founded in 2009 by Gautam Sen and Kaushik Sen.

Prior Wellspring, Kaushik Sen was with Bain & Co in Delhi and Boston for a few years. In 2009, he quit his job and teamed up with his father Gautam Sen, who has been practicing general surgery and surgical oncology for the past 35 years, to start the venture.

In March this year, Catamaran, a $129 Mn VC fund, along with Footprint Ventures invested in Gurgaon-based Hector Beverages Pvt. Ltd. Catamaran's other investments include SKS Microfinance, Manipal Universal Learning, and Ace Creative Learning.

Last month, Mumbai-based Jeevanti Healthcare Private Limited has raised $ 2.2 Mn first round of funding from Seedfund.

In 2009, Aavishkaar India Micro Venture Capital Fund (Aavishkaar) had invested Rs.2 Cr in Swas Healthcare.

This year, in the healthcare space, Bangalore-based Vaatsalya Healthcare Solutions Private Limited raised $10 Mn in its third round of PE funding from Aquarius India Fund and existing investor Seedfund; Glocal Healthcare System, a lowcost hospital chain, raised its first round of investment of $3.36 Mn from Elevar Equity and Sequoia Capital, while Aureos Capital India invested $10 Mn in BSR Super Speciality Hospitals.

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