APIDC Biotechnology Fund is the first fund in India focusing on early stage, novel IP-driven firms that have a strong presence in the domestic market. It is a $37 million, 10-year closed-end private equity fund that was formed to make equity, equity-related, and mezzanine investments. As the first venture capital investor in its portfolio companies, the fund directs two-thirds of its investments to early-stage companies, as it sees significant potential for commercializing output from Indian laboratories and universities. In 2005, IFC invested $4 million to support the fund’s efforts to harness the growth of young biotechnology firms in India.
IFC role and development impact:
- Financing plus guidance on fund structure: corporate governance, economic interests, investor profiles
- Advice on environmental, social, and ethical standards
