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Kapil Khandelwal’s Toro Finserve raising debut healthcare real estate fund – VCCircle

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El-Toro India Healthcare Opportunities Fund Coverage in VC Circle

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Kapil Khandelwal’s Toro Finserve raising debut healthcare real estate fund – VCCircle

  1. 1. | Photo Credit: Thinkstock REAL ESTATE (HTTPS://WWW.VCCIRCLE.COM/INDUSTRY/REAL-ESTATE/) Kapil Khandelwal’s Toro Finserve raising debut healthcare real estate fund 29 May, 2017 By Joseph Rai (https://www.vccircle.com/author/joseph-rai/) SHARE  (https://www.vccircle.com/kapil-khandelwals-toro-finserv-raising-debut- healthcare-real-estate-fund/?share=facebook&nb=1) 38  (https://www.vccircle.com/kapil-khandelwals-toro-finserv-raising-debut- healthcare-real-estate-fund/?share=twitter&nb=1)  (https://www.vccircle.com/kapil-khandelwals-toro-finserv-raising-debut- healthcare-real-estate-fund/?share=linkedin&nb=1) 58  (whatsapp://send? text=Kapil%20Khandelwal%27s%20Toro%20Finserve%20raising%20debut%20healthcare%20real%20estate%20fund https%3A%2F%2Fwww.vccircle.com%2Fkapil-khandelwals-toro-finserv-raising-debut-healthcare-real-estate- fund%2F) TMT (HTTPS://WWW.VCCIRCLE.COM/INDUSTR Naukri.com parent Info Edge’s Q4 net profit drops 15% (https://www.vccircle.com/n com-parent-info- edges-q4-net- profit-drops-15/) 2 hours ago VCCSTARTUPS STORIES By Binu Paul (https://www.vccircle.com/author/bin paul/) (https://www.vccircle.com/)
  2. 2. Private equity firm Toro Finserve LLP, which is floated by investment and healthcare industry veteran Kapil Khandelwal, is raising its debut healthcare real estate fund, the company said in a statement. The $500-million India Healthcare Opportunities Fund (IHOF) includes an additional leverage of $250 million, the statement added. The fund, registered as SEBI Alternative Investment Fund under Category II, has received commitments of $110 million from Indian state governments, ultra high-net-worth individuals, and fund-of-funds from abroad, it said. The formal roadshow for the fund-raising will begin from June or July. The fund is also in discussions with various banks and financial institutions for lease rental discounting (LRD) and leverage and distribution, it added. IHOF will invest in stabilised assets such as hospitals, diagnostic centres, rehab facilities and assisted living facilities set up by stablished healthcare operators in Tier I and II cities. TMT (HTTPS://WWW.VCCIRCLE.COM/INDUSTR Grocery startup Supr Daily gets $1.5 mn from Silicon Valley investors (https://www.vccircle.com/g startup-supr- daily-gets-1-5- mn-from-silicon- valley-investors/) 2 hours ago TMT (HTTPS://WWW.VCCIRCLE.COM/INDUSTR India’s ed-tech industry to grow eight-fold to $2 bn by 2021: Google- KPMG study (https://www.vccircle.com/i ed-tech-industry- to-grow-eight- fold-to-2-bn-by- 2021-google- kpmg-study/) 3 hours ago TMT (HTTPS://WWW.VCCIRCLE.COM/INDUSTR By Disha Sharma (https://www.vccircle.com/author/dis sharma/) By Arti Singh (https://www.vccircle.com/author/art singh/)
  3. 3. “Our fund expects to create and invest in healthcare infrastructure where institutional investments in the space have been shy and selective around a few chains of private hospitals so far,” Khandelwal, managing partner at Toro Finserve, said. The fund is currently evaluating deals worth $200 million with Indian hospital chains, assisted living and diagnostic centres to issue term sheets, he added. Khandelwal also said the fund has built a consortium of partners to help reduce the time to market and operating costs for the healthcare facilities it invests in. The fund aims to become India’s first healthcare Real Estate Investment Trust (REIT) and list its fund in four to five years on Indian or Singapore stock exchanges. Khandelwal said the team has worked on over $42 billion of real estate transactions and $2 billion of healthcare transactions globally. The fund’s advisory committee members include Arvind Lal, chairman of Dr. Lal PathLabs, and Kewal Handa, former managing director of Pfizer India. Naspers leads $80 mn Series E round in food-delivery startup Swiggy (https://www.vccircle.com/n leads-80-mn- series-e-round-in- food-delivery- startup-swiggy/) 6 hours ago TMT (HTTPS://WWW.VCCIRCLE.COM/INDUSTR Exclusive: Digital lending startup SimpliLend raises angel funding (https://www.vccircle.com/e digital-lending- startup- simplilend-raises- angel-funding/) 7 hours ago By Binu Paul (https://www.vccircle.com/author/bin paul/) By Vijayakumar Pitchiah (https://www.vccircle.com/author/vija pitchiah/)
  4. 4. Healthcare has been attracting a lot of investments in the past few years, and a number of healthcare-focused funds, including Quadria Capital and India Life Sciences Fund II, have emerged. Fundraising by PE firms A number of private equity firms have successfully closed their fundraising process in the past months while some are on the road. Last week, International Finance Corporation (IFC) said private equity firm Kedaara Capital Advisors Ltd was raising (https://www.vccircle.com/kedaara-capital-to- float-second-fund-gets-ifc-backing/) its second fund. Earlier this year, homegrown PE firm ChrysCapital Management Co overshot its $600-million target for its seventh fund. Last year, Multiples Alternate Asset Management Pvt. Ltd wrapped up the fundraising process for its second fund to raise the fifth-largest sector- agnostic private equity investment corpus ever raised for India. UPCOMING EVENTS  16 JUN News Corp VCCircle E-Commerce Summit Taj Lands End, Mumbai (http://events.vccircle.com/conten corp-vccircle-e-commerce- summit)  29 JUN News Corp VCCircle Mergers & Acquisitions Summit 2017 Mumbai (http://events.vccircle.com/conten corp-vccircle-mergers- acquisitions-summit-2017)  09 AUG News Corp VCCircle FinServ 2017 Mumbai (http://events.vccircle.com/conten corp-vccircle-finserv-2017)
  5. 5. In December, Fairfax India Holding Corporation, part of India-born Canadian billionaire Prem Watsa’s Fairfax Financial Holdings Ltd, raised $500 million. Like this report? Sign up for our daily newsletter (https://visitor.r20.constantcontact.com/manage/optin? v=001JhAH0M7VcWfuPdsPidmliQ5-hO6aC- oOYmUgPPKnvHaQh66_pAQShG6_IHsEwGsgzffzP1_hpXYfxfotyyC3ah_WoUB qY97S0JjhuZpvyygcmWfzHX59FbB_s6um0jXOaYjNe9hDf5vgp4s_PH) to get our top reports. healthcare (https://www.vccircle.com/tag/healthcare/) India Healthcare Opportunities Fund (https://www.vccircle.com/tag/india-healthcare- opportunities-fund/) real estate (https://www.vccircle.com/tag/real-estate/) Toro Finserve LLP (https://www.vccircle.com/tag/toro- finserv-llp/) Kapil Khandelwal (https://www.vccircle.com/people/kapil-khandelwal/) Tweets about @vccircle 3m 5m Exclusive: Granules India hires bankers to raise $77 mn via QIP -vccircle.com/exclusive …gran via vccircle@ Exclusive: Lava plans first IPO by an Indian handset maker in a decade -vccircle.com/exclusive …lava via vccircle@ bruhadees @bruhadees Exclusive: Granules I… Hyderabad-based liste… vccircle.com bruhadees @bruhadees Exclusive: Lava plan… Homegrown mobile ha… vccircle.com FOLLOW US ON TWITTER Enter email for free newsletters >
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