Nihar Parikh sets his family office, 4Point0 Health Ventures

11 Aug 2022 , 10:44 AM

After selling his family-run business, ZCL Chemicals (formerly Zandu Chemicals), to the private equity firm Advent last year, Nihar Parikh established a fund, 4Point0 Health Ventures, intending to make investments in healthcare-related businesses.

Saveo, digital therapeutic firm Fitterfly, elective surgery provider Glaymo Health, and Eka Care, which digitizes patient health records, have all received funding from 4Point0 Health Ventures since January.

ZCL Chemicals’ valuation increased under Parikh from Rs12.5 crore to Rs2,000 crore over the course of almost ten years. Parikh said the fund hopes to function as a “strategic partner” to the businesses it supports and brings its prior experience in the pharmaceutical and healthcare industries to the table by using his operational experience. “The field of health technology is still young and needs time to develop. Every transaction in the section will be examined,” Parikh said.

The family office in Mumbai plans to contribute anywhere from $1 to $2 million to seed and Series B investment rounds. According to Parikh, based on the shareholding, the fund will either join the startup’s advisory committee or take a seat on the board.