Here comes an exclusive Healthcare Angel Fund

In lines with Prime Minister’s Startup India mission, Dr. Huzaifa Khorakiwala has launched a Healthcare Angel Fund called Health Passion Fund, which targets to raise Rs. 125 crore corpus and will look at an investment upto Rs. 5 crore in each startup.

Commenting on the development, Dr. Khorakiwala said, “India’s healthcare vertical touching $150 billion needs a lot more disruptive ideas to provide new age solutions to conventional health problems. The scale of unserved markets need technology enablers to solve conventional health problems and this needs encouragement and support of industry players. Global precedents show that this can reduce cost and response time, and increase efficiency of the sector. Besides, this can create more domestic jobs & strong Indian startups who can go global.”

The fund will seek to invest in around 30 healthcare startups of under 3 years of operations with qualified team, proof of concept, revenue & business traction. It will focus on startups using technology as an enabler or driver in healthcare.