HealthXCapital debuts $25m fund for startups tackling healthcare problems in emerging Asia

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Singapore-based HealthXCapital today launched what it claims to be the first healthcare-focused, early-stage fund for emerging markets in Asia.

The US$25 million fund is backed by Indian hospital chain Apollo Hospitals, Eight Roads Ventures – an investment unit of Bermuda-based Fidelity International, Singaporean VC firm Jungle Ventures, and other private investors.

It will invest in pre-series A and series A startups in Southeast Asia and South Asia, with check sizes ranging from US$500,000 to US$3 million, HealthXCapital partner Seemant Jauhari tells Tech in Asia.

The VC’s investment focus is on “point-of-care diagnostics, medical devices, as well as digital and AI health solutions” that will help bring down healthcare costs and improve patient outcomes.

“Access to quality healthcare that’s affordable is probably the most pressing challenge in Asia’s healthcare system,” says Jauhari. “Given that the traditional brick-and-mortar models have scale limitations, we believe technology has a significant role [to play].”

HealthXCapital has already made investments through the fund. Those went into Jana Care in the US, Homage in Singapore, and iNicu in India.

Jana Care enables a diagnostic test to provide results in under three minutes at the time of consultation. Homage addresses the huge challenge of aging and uses technology to find vetted health professionals for patients with homecare needs. An analytics-based solution, iNicu focuses on improving outcomes in neo-natal intensive care units.

Seemant Jauhari / Photo credit: HealthXCapital

HealthXCapital says its unique model gives its investors significant competitive advantage.

“Our core team, advisors, and closed clinical network bring forth decades of collective business and clinical experience which allows us to foresee the startup’s impact and commercial potential realistically,” Jauhari says. “Post investment we are able to leverage our partner networks to put a commercialization plan in place and work with the startup and partners to monitor the rollouts closely.”

Jauhari is the former CEO of Apollo Research and Innovations, a division of Apollo Hospitals. He used to head the hospital chain’s educational and research foundation. He is also a former director at three Apollo hospitals.