MPM Capital, a VC firm headquartered in Boston and South San Francisco, Calif., wants to put Indian life-science firms on notice that it’s comin’ a-huntin’. The VC firm told reporters for VentureWire, Reuters and others that it plans to actively pursue equity investments in privately held Indian healthcare firms over the next six months.
William Greene, a general partner at MPM, said he would like to see the firm make one or two Indian investments over the next six months, each “in the range” of $20 million. MPM would plan on taking stakes of 10 percent to 40 percent in the life-science companies it invests in, Greene said.
Areas of interest for MPM include drug discovery outsourcing, contract research and manufacturing services and medical devices. Greene said he’d also be interested in companies developing novel therapeutics. “India is a highly under-penetrated market for life sciences,” he told reporters.
MPM has already take steps to raise its profile in the subcontinent. In April, the firm announced a partnership with Mumbai-based Reliance Life Sciences (PDF link), in which Reliance invested in MPM’s BioVentures IV fund and will advise MPM as it identifies and invests in emerging Indian life-science companies. Among other things, MPM said it would explore the possibility of establishing a seed fund devoted to India.
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