Kotak Alt raises Rs.250-Cr in first close of life sciences fund

Mumbai-based Kotak Alternate Asset Managers (Kotak Alt) has made the first close of its Kotak Life Sciences Fund at INR 250 crore (around USD 29 million). The fund, with a target corpus of INR 1,600 crore (around USD 185 million), has raised money from family offices, UHNIs and financial institutions. It will invest in early to growth stage startups operating in the life sciences space which includes medical devices, digital health, consumer wellness, diagnostics and delivery.