HealthKois, a newly established growth-stage healthcare investment platform, has announced the launch of a $400 million sector-specific fund to support early growth-stage companies in healthtech, biopharma, medtech, healthcare delivery, and climate health.

Founded by the core leadership behind HealthQuad, Charles Janssen, Ajay Mahipal, and Dr. Pinak Shrikhande, HealthKois is positioned as the next-generation fund aiming to catalyse purpose-driven healthcare innovation with scalable commercial impact.

Strategic Capital for Scalable Ventures

The fund targets an initial corpus of $300 million, with an additional green shoe option of $100 million, enabling flexible capital deployment across its target segments. Over the next four years, HealthKois aims to invest $7 million to $25 million per company, building a portfolio of 13 to 16 high-impact ventures.

“Our mission is to support early-growth companies leveraging technology and innovative business models to resolve India’s most pressing healthcare challenges,” said Charles Janssen, Managing Partner at HealthKois. “With over 75% proprietary deal flow, we’re uniquely positioned to deliver differentiated outcomes, both financial and societal.”

The fund will maintain a sectoral focus, deploying approximately 50% of capital towards healthtech, and allocating 10–15% each to biopharma, medtech, healthcare delivery, and climate health.

Founder-First Philosophy with Deep Sector Expertise

HealthKois isn’t just injecting capital—it brings strategic partnership and operational mentorship. The firm will offer portfolio companies support in go-to-market strategies, organisational development, governance practices, and global expansion.

Ajay Mahipal, Partner at HealthKois, emphasised the firm’s long-term engagement with founders: “We are not passive investors. We embed ourselves in the growth journey—bringing sectoral insights and global networks to help companies unlock their full potential, especially across India and other low- and middle-income markets.”

Focus on High-Impact Innovation

HealthKois is targeting ventures that demonstrate measurable clinical or operational improvements. The fund is particularly bullish on biosimilars, cell and gene therapy, and point-of-care medtech solutions—areas where India is emerging as a cost-effective innovation hub.

“India is at a pivotal stage in biosimilar and advanced therapeutics development,” explained Dr. Pinak Shrikhande, Partner at HealthKois. “We see significant innovation happening at a fraction of global costs. Our focus is on enterprises that translate this R&D edge into accessible, high-quality solutions.”

In medtech, the fund is exploring investments in software-driven tools that help streamline diagnostics, hospital operations, and inventory management. 

As Ajay Mahipal, Partner at HealthKois, noted, “There is growing interest in platforms that optimise hospital workflows, predict inventory gaps, and automate procurement—unlocking working capital and improving care delivery.”

Sustainability and Impact at the Core

HealthKois will align its investment strategy with international benchmarks such as the UN Sustainable Development Goal 3 (Good Health and Well-being) and Article 9 of the EU Sustainable Finance Disclosure Regulation. This reflects a broader commitment to responsible, impact-oriented capital deployment.

The fund’s limited partners (LPs) span development finance institutions, insurance companies, pension funds, corporates, banks, family offices, and fund-of-funds across Asia, Europe, and North America.

Building on a Legacy of Scale and Impact

HealthKois builds upon the proven track record of HealthQuad Funds I and II, which have invested in transformative ventures like Qure.AI, Wysa, GoApptiv, and Cureskin, collectively reaching over 90 million lives and impacting 8.2 million patients annually.

While HealthQuad will continue operating under its current mandate, HealthKois signifies a dedicated platform for the next phase of innovation, targeting early-growth companies with global ambitions and local relevance.

“We’re at an inflexion point. With a founder-first approach and our deep domain knowledge, HealthKois is committed to accelerating India’s healthcare transformation, driving systemic improvements in access, affordability, and quality,” concluded Charles Janssen, Managing Partner at HealthKois.

Read more: G2M Appoints Diagnostics Pioneer John Bishop, Former Cepheid CEO, to Its Advisory Board

About HealthKois
HealthKois is a healthcare-focused growth-stage venture capital platform launched by the founding team of HealthQuad. The fund is designed to invest in early growth ventures across healthtech, medtech, biopharma, healthcare delivery, and climate health, supporting entrepreneurs building scalable, impactful solutions for India and beyond.

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