Eight Roads Ventures appoints former Avendus investment banker as partner

Chintan Kothari, Partner, Eight Roads Ventures.

Eight Roads Ventures, the global investment firm backed by Fidelity, said on February 16 that Chintan Kothari, a former investment banker, has joined as a partner to oversee its healthcare investments in India.

Kothari would enhance Eight Roads’ efforts in the country to back entrepreneurs of early-growth stage companies and identify new investment opportunities across healthcare and life sciences value chains, the company said in a release.

“Healthcare in India is evolving at breakneck speed and I believe that we’re going to witness more innovation in the sector over the next few years,” Kothari, who will be based at Eight Roads’ Mumbai office, said.

“This is an exciting time to be part of the startup ecosystem and I am delighted to be joining Eight Roads as we bring our collective experiences to support and scale-up category leaders.”

With more than 15 years of experience in investment banking, Kothari was earlier an investment banker at Avendus Capital, leading its healthcare vertical, Eight Roads said.

Before Avendus, Kothari led the healthcare and consumer investment banking verticals for Citigroup, the company said.

“We are delighted to welcome Chintan to our healthcare team and as a member of the leadership team in India,” said Prem Pavoor, Senior Partner, Head of India and Healthcare Investments, Eight Roads Ventures.

Founded in 1969, Eight Roads Ventures is a global proprietary investment, with offices across China, India, Japan, the UK and the US.

In May 2022, Eight Roads launched its first dedicated $250 million healthcare and life sciences fund for India, which is among the largest such funds. The company has backed more than 25 businesses in India, it said.

Eight Roads Ventures’ India active and exited healthcare companies include Cipla Health, OZiva, PharmEasy, and Toothsi.

This year, it announced two new investments - Enzene Biosciences, an innovation-driven biologics company, a subsidiary of Alkem Laboratories, and Enko, a crop health company.