IXP, a life sciences venture capital firm supported by JV Ventures, has launched its first fund, the IXP Lifesciences Catalyst Fund. With a corpus of Rs. 200 crore and a Rs. 100 crore greenshoe option, the fund will invest in early-stage biotech startups, from Pre-Seed to Series A.

IXP plans to build a portfolio of 20-25 companies across pharmaceuticals, biotechnology, medical technology, specialty chemicals, agrotechnology, and nutraceuticals, targeting unmet needs in these sectors.

Based in Hyderabad, IXP will provide its portfolio companies with not only capital, but also industry expertise, scientific guidance, and operational support. The fund's creation follows a pan-India survey conducted by IXP to identify the key challenges faced by biotech startups.

Ketki Tulpule, IXP's Chief Investment Officer, emphasized the need for investors with scientific and industry knowledge, highlighting the involvement of industry veterans as council members and advisors.

Jasmeet Chhabra, Partner at IXP and Co-founder of JV Ventures, noted that early-stage companies often lack access to essential resources like laboratories, networks, and R&D services, which IXP facilitates through PoweRx, JV Ventures' life sciences division.

India's biotechnology sector has experienced substantial growth in the last decade, fueled by progress in various areas. This growth has attracted increasing VC investment, with both government and private entities playing a crucial role in funding early-stage biotech ventures.

Government bodies like BIRAC, through programs like BIG, SBIRI, and BioNEST, have been instrumental in supporting these startups from ideation to commercialization, addressing funding gaps and fostering innovation in drug development, diagnostics, medical devices, and industrial biotech solutions.