BRIEF—India-based fund raises $250 million for pharma investment

Mauritius-based InvAscent has raised $250 million for its India Life Sciences Fund, a private equity vehicle focused on the pharmaceutical and healthcare industries.

Indian press reports that the money has come from a range of sources including blue chip firms, university endowments and pension funds in the USA and Europe.

InvAscent chairman Hari Buggana told The Economic Times: “The demand for quality medicines and quality healthcare in India is very strong,” adding: “globally, there is a demand for high quality and low-cost medicines. And Indian firms are very good at addressing this demand.”