HCL Founder Shiv Nadar and Sanjay Kalra Set Up $500M Fund to Invest in US Healthcare Startups

Shown Above: HCL Founder and Chairman Shiv Nadar, Image Source

HCL Founder and Chairman Shiv Nadar and IT veteran Sanjay Kalra have partnered to set up a $500 million fund to invest (buying and mentoring) in US based healthcare technology startups.

The company, ‘Shiv Nadar and Sanjay Kalra Associates’ (SNSK) will focus on players in IT products, services, payers, pharma firms and life Sciences. Sanjay Kalra will act as the Chairman and the company has also hired Mahesh Nagaraj, former VP at Tech Mahindra, as the MD of the venture, to be based in the US. Another person hired is a serial entrepreneur Vineet Jawa.

“We are a group of operational executives with capital looking for buy-outs, carve-outs in the healthcare technology space in the US,” said Kalra. Further adding he said, “With just the two of us committed to the fund, this is patient capital not driven by the typical end of the fund cycles.”

SNSK fund has plans to invest $500 million over the next five years and target buyouts in the range of $50-$200 million. It will also focus on the healthcare technology providers in the US to leverage India’s R&D capabilities, as reported by ET.

Talking about startups in India, Kalra said that they would also keep an eye on the Indian startups, so as to match disruptive solutions with mature companies that the company will invest in.