Why India, why now: the inflection in healthcare capital.
A confluence of clinical talent, regulatory maturation, and patient-payer scale is producing a generation of globally relevant healthcare companies out of India.
For two decades, the global healthcare narrative was written from Boston, Basel, and the Bay Area. India contributed talent, manufacturing, and trial volume — rarely category-defining companies. That equation is changing.
Three structural shifts
First, the clinical talent base has compounded. India trains more physicians and biologists per year than any other geography, and a meaningful share are now returning home with US-trained domain expertise. Second, CDSCO has moved closer to FDA conventions, shortening the path from Indian approval to global market. Third, payer scale — both public schemes and a fast-growing private insurance market — is creating reimbursable demand that was structurally absent a decade ago.
What we are funding
We are concentrating on three intersections: India-originated drug-discovery platforms with global IP, MedTech designed for cost-constrained settings that then ports to the OECD, and AI-driven diagnostics validated on populations the West cannot easily reach. The asymmetry — Indian cost base, global addressable market — is the trade we underwrite.