YES Bank To Set Up India Health Care Fund

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.

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.

"The fund will get into investment mode in Q4 this fiscal," YES Bank CEO and Managing Director Rana Kapoor told PTI here.

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