Pranjal Kumar

Healthcare in India has quietly shifted. What was once a mission-led sector is now a PE-owned asset class. Most of the country’s leading hospitals are no longer promoter-led. They are backed by Private Equity funds chasing scale and returns. Temasek → Manipal Hospitals (MHEPL) Blackstone → CARE Hospitals, Quality CARE India Limited CVC / KKR → HealthCare Global General Atlantic → Ujala Cygnus Hospital KKR → Baby Memorial Hospitals This shift has undeniable positives: capital inflows, modern infrastructure, global best practices. But it also hardwires ROI targets into an industry built on empathy. And the trade-offs are visible: - Profitable procedures prioritized over basic care - Luxury patient experiences over affordability - Operational efficiency over emotional connect The sector needs growth capital - no doubt. But when healthcare becomes just another asset class, we risk eroding its very core: quality and accessibility for all. The question: Can we let healthcare become just another profit-driven asset class… without eroding its core - quality and accessibility for all? #india #healthcare #privateequity #growth #funding #asset

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For Angel Funds in India it is the end game for the most flexible, regulated, investment vehicle. The new regime defines process driven approach to run the Angel Fund with fair treatment to all investors of the Fund. While SEBI has provided for grandfathering of the existing Angel Fund provisions, the expectation will be to provide a robust infrastructure to have the Accredited Investor (AI) requirement fulfilled. SEBI must also address issues with AI processes for non-residents and streamline requirements in accordance with internally accepted practices. SEBI's consultation paper allows leverage of time to onboard an Investor basis Investment Manager's review of AI criteria pending certification. SEBI has also suggested including KRA agencies to allow AI certification. SEBI must consider nominating Depository Participants as additional agencies and mandate updating the Client Record (CML / CMR) to provide the AI status of the investors. This will largely be aligned with the entire dematerialisation process for AIF investors. SEBI should also review the threshold of Net Worth for Individuals for AI certification to widen the investor base in Angel Investing and other avenues. Whether past experience of investing is required along with AI to qualify as an Angel Fund's investor will probably be addressed in the fine print of the proposed regulations. #accreditation #SEBI Securities and Exchange Board of India (SEBI) #AIFs

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From pension funds and insurance firms to family offices and retail investors, Indian money is backing Indian ideas with both capital and conviction. The focus is shifting to long-term value creation, not just fast growth. Family offices and high-net-worth individuals are writing larger, smarter cheques, fuelled by a booming economy and growing trust in startups. As traditional investments lose their edge, savvy investors are seeing early-stage ventures as a serious, diversified play. More disciplined, market-aware, and value-driven, domestic investors today are laying the foundation for a more resilient startup ecosystem. And that, more than anything, signals that India is ready for its next leap. #StartupIndia #AngelInvesting #IndianCapital #Innovation #FamilyOffices #HNIs #PolicyReform #MakeInIndia

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