Aavishkaar India Micro Venture Capital Fund (Aavishkaar) has invested Rs 2 crore in Swas Healthcare. Swas Healthcare is a Gujarat based venture engaged in setting up a chain of naturopathy clinics and hospitals across the state. It currently runs a hospital in Kutch, Gujarat and a clinic in Rajkot, and will deploy the money to set up city clinics across Gujarat.
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Sanjay Singh, Director, Swas Healthcare stated that the fund will help the company to offer effective and low cost healthcare solutions to a much larger population in the state.
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Aavishkaar is a Mumbai based venture capital fund focused on rural and semi-urban India. The investment in Swas Healthcare is its second investment in healthcare segment after its first investment in Vaatsalya in 2008.
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Aavishkaar has been investing aggressively over the last few months. The fund, which had target of raising $15 million, made its final close at $14 million in June this year. Earlier in August 2009, it invested in Pune based sanitation solutions provider for a 21% stake in the company. It targets investments with a size ranging from Rs 10 lakh to Rs 2 crore in areas including renewable energy, dairy, healthcare, agri-implements, besides other small and medium sectors.
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