Elara Capital To Launch $300Mn Healthcare Fund

Elara Capital is in talks with a Dubai-based financial institution to launch a healthcare fund to enter the private equity space.

The fund will have its focus on India, other south-east Asian countries, West Asian countries and Africa and the the size of the offshore fund could be between $250-300 Mn.

Elara also plans for another India-focused sector-agnostic fund in a similar range.

Founded by Raj Bhatt, Elara Capital Plc. is registered as a FII in India. It manages several funds including Elara Emerging Markets Fund, domiciled in Luxembourg and Elara India Opportunities Fund Ltd (EIOF), a fund domiciled in Mauritius.

It offers financial services including capital raising in the local market through IPOs, rights issue, bonus issue, debt etc, M&A and private equity advisory and financial restructuring advisory services.

It has offices across Mumbai, Singapore, New York, Dubai, Zurich, Mauritius, and continental Europe.

In healthcare space, recently - DM Healthcare has raised R500Cr from Olympus Capital to set up hospitals in India; while South Africa based Life Healthcare acquired 26% stake in Max Healthcare for R516.5Cr, valuing the company at around R2000Cr in all cash transaction in October last year.

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