HCG Founder Sets up Inviga Healthcare Equity Fund, Makes Maiden Investment in Mynvax

Inviga Healthcare Fund seeks to support healthcare and pharmaceutical/life science enterprises throughout the entire value chain.

Dr B S Ajaikumar, the founder & executive director of Healthcare Global Enterprises (HCG), has set up a new healthcare equity fund, Inviga. The fund has made its maiden investment in Mynvax, a biotechnology company.

Headquartered in Bengaluru, Inviga Healthcare Fund (IHF), a thematic healthcare-focused private equity fund, seeks to support healthcare and pharmaceutical/life science enterprises throughout the entire value chain.

Inviga’s investment in Mynvax marks a strategic move by Dr Ajaikumar to diversify into the rapidly growing biotechnology sector.

Mynvax, known for its innovative solutions in the healthcare domain, is expected to benefit significantly from this investment.

Commenting on the Investment, Dr B S Ajaikumar, founder & executive director, HCG, said, "Inviga Health Fund is my response which embodies my desire to provide high-quality egalitarian healthcare to all sections of society while supporting and positioning doctor/healthcare entrepreneurs as primary drivers in the business.’’

Ajaikumar further noted that IVF aims to support the Indian healthcare entrepreneur ecosystem, foster clinical excellence, focus tenaciously on the quality of outcomes, drive deep social impact, and help build businesses on sustainable vectors.

IHF’s Maiden Investment

In its maiden investment, IHF has announced support for Mynvax, a biotech startup focused on developing novel recombinant vaccines for human respiratory viral diseases, including seasonal influenza and COVID-19.

Mynvax is cofounded by Prof Raghavan Varadarajan and Dr Gautham Nadig, Professor and alumnus respectively of the Molecular Biophysics Unit at the Indian Institute of Science.

It aims to revolutionize vaccine development by creating a platform that promises affordable and facile manufacturing, higher effectiveness, a broader spectrum of coverage than existing vaccines, and simplified distribution.

Cofounded by Ajay Garg, founder and MD of Equirus Capital, IHF marks a significant step towards revolutionizing the Indian healthcare landscape by enhancing accessibility, affordability, and quality of healthcare for all sections of society.

With an initial closure of $20 million, the fund is well-positioned to bolster entrepreneurs and drive substantial changes throughout the entire healthcare value chain in India.

Reportedly, Inviga will utilize its extensive sector-specific knowledge, global connections, and a distinctive blend of entrepreneurial, clinical, investment, banking, and executive management expertise.

Ajay Garg, cofounder, Inviga Healthcare Fund, said, "A doctor-driven thematic healthcare and life sciences fund in India is a rarity. This gives us a unique vantage point that helps transcend critical technical barriers that otherwise typically exist between healthcare entrepreneurs and their financiers, and creates win-win situations that not only benefit the business and investors, but also contribute significantly to the progress of Indian healthcare."

The innovations at Mynvax, led by its highly qualified team, have indeed made tangible the prospect of an improved flu shot that can finally find its way into the hands of the lesser privileged in India and across the globe

In October, HCG Cancer Centre launched a first-of-its-kind home healthcare service exclusively for cancer patients in India. The service is available across the country and caters to patients of all age groups.

With this initiative, HCG Home Health seeks to provide professional and high-quality care within the convenience of the patient's home. It is designed to meet the needs of the patients by offering personalized care with a higher sense of security, dignity, and independence.