Shiv Nadar the founder of HCL is partnering with Sanjay Kalra, the Indian technology industry veteran to fund $500 million by which they are planning to buy US healthcare technology firm and also to invest in various startups with disruptive solutions. Nadar by investing nearly $12.9 billion is allocating for the first time a portion of his wealth towards private investments in the technology industry. Kalra who was a former top executive at HCL Technologies and Tech Mahindra said that they have already started buy out discussions with potential targets in the US.
Kalra at present is the chairman of newly-set up Shiv Nadar and Sanjay Kalra Associates (SNSK) said in an interview that the overall money in healthcare spend in the US is expected to hit $3.207 trillion this year. Karla proposed that they are a group of operational executives having capital with them and are looking for buy-outs in the healthcare technology space in the US. Based on the fund’s exit strategy Kalra announced that both of them will jointly back up the companies for the long term and they have committed to fund this is patient capital which is not driven by the typical end of the fund cycles.
Nadar and Kalra are attempting to invest in the highly profitable healthcare market in the US which is in its phase of development by using newer technologies such as big data, analytics and more intelligent software platforms that helps the healthcare service providers to become more efficient. They are planning to spend $500 million over the next five years and put target on various buyouts in the range of $50-$200 million. The fund will also help the healthcare technology providers in the US to leverage with India’s R&D capabilities. He also added that the startups in India will be in their radar and their idea is to match disruptive solutions with mature companies so that they can innovate faster.
SNSK has hired Vineet Jawa a serial entrepreneur and Mahesh Nagaraj the vice-president at Tech Mahindra as the MD for their new venture based in the US.
