Somerset Indus Capital Secures $15 Mn to Expand Healthcare in Tier 2 & 3 Cities

The new fund will target growth-stage healthcare enterprises working to improve affordability, care quality, and access, particularly across hospitals, diagnostics, pharmaceuticals, medical devices, and digital health

Somerset Indus Capital Partners, a Mumbai-based healthcare-focused private equity firm, has secured $15 million from Proparco, the private-sector financing arm of the Agence Française de Developpement (AFD) Group, for its third healthcare investment vehicle, Somerset Indus Fund III.

The new fund will target growth-stage healthcare enterprises working to improve affordability, care quality, and access, particularly across hospitals, diagnostics, pharmaceuticals, medical devices, and digital health in Tier II and Tier III cities.

The collaboration is anticipated to support the expansion of essential health services in underserved areas, alongside broader objectives related to inclusive economic development.

Commenting on the new partnership, Avinash Kenkare, Founder & Partner at Somerset Indus Capital Partners, said, “France and India share a long-standing partnership grounded in innovation and sustainable development. Proparco’s investment in Somerset Indus Fund III strengthens this dynamic by supporting the growth of impactful healthcare companies across India.”

“This collaboration will help deliver accessible, high-quality healthcare while creating economic opportunities in underserved regions, a goal we proudly champion. In 2026, the India-France Year of Innovation will serve as a catalyst for cooperation in the field of healthcare across the public and private sectors” he added.

To date, Somerset Indus has invested in 15 healthcare companies serving India’s mid-market healthcare segment.

Currently, the firm’s investment portfolio supports 40 hospitals with approximately 4,500 beds, over 4,600 healthcare professionals, and about 5,000 diagnostic facilities.

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