Jashvik Capital, a private equity firm focused on mid-market healthcare and consumer companies, announced the first close of its $350 million maiden fund on Thursday.
The fund, however, did not reveal the amount of its initial closure.
Jashvik Capital’s first fund, with a hard cap of $400 million, was launched in July. It intends to invest between $10 million and $50 million of its funds.
In terms of strategy, the firm invests in profitable businesses growing at a rate of more than 18% in large, addressable markets in India’s healthcare or pharma and consumer sectors. According to a statement, it seeks to partner with exceptional founders to help them accelerate growth and make their businesses resilient and future-ready.
Patwari was the India head of healthcare and consumer investing at private equity firm TA Associates before launching Jashvik Capital. He stepped down in April of this year to launch Jashvik Capital, a Category II Alternative Investment Fund registered with the Securities and Exchange Board of India and the International Financial Services Centres Authority.
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