India’s first life sciences infrastructure fund worth Rs1000 crore set up by Telangana govt.
The Telangana government has proposed to set up a Life
Sciences Infrastructure Fund with a corpus of Rs 1,000 crore.
The fund is to be a first-of-its-kind in the country.
The fund will be used to create a modular plug-and-play
specialised infrastructure for pharmaceuticals, biotechnology and medical
An MoU with Cerestra
Advisors, a private equity firm, has been signed towards this end.
The PE fund has already bought Alexandria Knowledge Park in
Hyderabad for about Rs 400 crore to build an office portfolio on R&D
The Knowledge Park houses large tenants such as Novartis,
Vimta Labs, Bharat Biotech, Biological E, Lonza among others.
The state has also proposed a Pharma City and the phase-1 is
being developed across 8,200 acres.
The state has generated Rs 73,000 crore in investments and
created 2.56 lakh jobs in the process, after the state government started the
Telangana State Industrial Project Approval and Self-Certification System
(TS-IPASS) in 2015.
The state is also setting up ‘Telangana Industrial health
Clinic’ (TIHCL), a new financial initiative specially focussed for the growth
of MSMEs and revival of sick units.
It is being set up with support from TSIDC with a corpus
fund of 100 crore of which the state government will be contributing 10 crore,
the central government is expected to provide a grant-in-aid support of Rs 50
crore and the rest through banks and financial institutions.
The fund will operate as a fintech company and will handhold
enterprises to ward off the compliance risks for the partnering commercial