Currae Healthtech Fund Director Apoorva Patni, who also co-founded one of India’s more famed electronics company Patni Computers, has announced that he is looking forward to invest close to a whopping $15 million in the healthcare sector, reports Livemint.
The investment will be done through his Currae Healthtech fund. Till date, he has invested in the vicinity of₹10 crore in 7 healthcare startups and is now planning to up this investment to the north of $15 million in about 20 startups.
Along with heading the launch of Currae brand in healthcare services, Apoorva is also actively involved in growing & incubating different businesses across Healthcare and IT services. He is also involved with funding disruptive startups focusing on the health tech space.
Apoorva Patni, director, Patni Healthcare Ltd said,
We realized healthcare was one area where there is a need for services. By 2015, the healthcare industry was $100 billion, by 2017 it will be $160 billion business. Hence, there is phenomenal growth in healthcare sector.
Earlier, the firm had invested in BabyChakra – online parenting and child care startup, Allishealth, Mapmygenome – the very unique and popular molecular diagnostics company, Wrig Nanosystems, among others.
BabyChakra is an online parenting and child care startup based in Bangalore. It is also backed by Mumbai Angels and Singapore Angel Network, and claims to have connected more than 250,000 parents to 5,500 local services providers so far.
MapMyGenome offers predictive tests like Genomepatri, and is also backed by Aarti Grover, managing director, CMS Computers Ltd and Rajan Anandan, managing director, Google India.
Under Currae Hospitals, Apoorva Patni is planning an investment of Rs.500 crore to set up 30 hospitals by the end of 2020. He has already set up four hospitals in areas of ortho-spine, mother and child, and eye-care in Kolkata and Mumbai with an investment of Rs.100 crore.
Commenting about the healthcare market, Padmaja Ruparel, an angel investor and president of the Indian Angel Network, said,
Angel Investors invest in companies with ‘need to have’ propositions rather than ‘nice to have’ and healthcare is critical need. Technology enablement allows companies to not only scale but also reduce costs for the ultimate consumer and therefore these ventures attract angel investors.