Private equity firm Somerset Indus Capital Partners on Tuesday (Sept. 9) announced that it is in the final stages of closing its third fund with total investor commitments nearing $250 million.
Final documentation is currently underway, and the company is eyeing a final close of Fund III by October 2025, potentially exceeding its target, it said in a statement.
According to the statement, the fund garnered strong support from a mix of existing and new limited partners (LPs), including several development finance institutions (DFIs) from Europe and the US, a global investment company, marquee European institutions, Indian financial banks, insurance companies, funds of funds, family offices, and impact investors from Europe and Southeast Asia.
With Fund III, Somerset will continue its focus on bridging healthcare gaps across India by investing in companies that provide affordable, accessible, and quality healthcare to Tier II and Tier III markets, it said.
“India is at a healthcare inflection point, and with Fund III, Somerset is positioned to shape this transformation, deepening access, creating impact and sustainable value for all stakeholders, while delivering on our ‘Capital for Change’ philosophy,” said Mayur Sirdesai, Partner, Somerset Indus Capital Partners.
Somerset Indus Capital Partners’ investments range from $15-40 million in companies across healthcare delivery, pharmaceuticals and life sciences, medical devices, diagnostics, and related sectors. With an AUM of around $500 million across three funds, the firm has invested in 15 portfolio companies across various sectors, driving transformation and accelerating growth.
Fund I achieved a roughly 4x DPI, while Fund II is now approaching exits.
Notable investments include Ujala Cygnus Hospitals, which expanded affordable care across North India, and Krsnaa Diagnostics.
