About Company
360 ONE Asset Management
360 ONE Asset, a part of the 360 ONE Group, is a global asset management firm that focuses on India. They have different products that allow investors everywhere to get involved in India's growth. They get how India's population and what people want drive the economy, so they actively manage investments to take advantage of India as a good long-term investment. Because they know India's growth story well, 360 ONE Asset comes up with investment plans to try and give solid returns based on risk. 360 ONE takes care of the specific needs of rich people, families, and big institutions. They're the first wealth management company to be on India's stock exchange. They help families in India and other countries keep, protect, and increase their wealth by really getting to know what they need and offering all sorts of wealth management options. 360 ONE is known for coming up with new ideas in wealth management. They got the Best Private Banking Services Overall award for India in 2020 from the Euromoney Private Banking and Wealth Management Survey. They were also ranked number one in 15 other areas, like services for the super-rich, family office help, investment management, and using new tech. Since they started in 2008, they've won over 110 awards. 360 ONE has its main office in Mumbai, employs over 900 people, and works in six big financial centers around the world and 23 places in India. Smart investors, families, and big institutions trust 360 ONE Asset management. They use solid, research-backed plans to hit their goals. They invest for the long haul, do deep financial checks, and aim to keep money safe while trying to be in the top group during all market ups and downs. 360 ONE Asset can manage money both in this country and overseas. They have different funds, like mutual funds, other investment funds, and venture capital funds. They cover stocks, bonds, and even property. They're quick and flexible like a small firm, but they also have the good corporate practices you'd expect from a big company that's here for the long run.
What Is the 360 ONE Healthcare Opportunities Fund?
The 360 ONE Healthcare Opportunities Fund is a healthcare and life-sciences-focused Category II AIF that follows a private-equity investment strategy centred on growth-stage businesses. The fund looks beyond very early-stage venture investing, targeting companies that have demonstrated business traction and have the potential to scale further through institutional growth capital.
The 360 ONE Healthcare Opportunities Fund AIF follows a predominantly minority-investment approach, partnering with founders and management teams rather than taking complete control of portfolio companies. The broader investment thesis focuses on healthcare businesses where specialist sector knowledge can support both investment selection and post-investment value creation.
The fund's investment universe spans areas such as hospitals, specialty care, diagnostics, medical devices, healthcare services, health-tech and life sciences. The strategy is particularly focused on identifying businesses where India's expanding healthcare demand, specialised capabilities and opportunities for organised scale can create attractive private-market investment opportunities.
360 ONE Healthcare Opportunities Fund: Fund Snapshot & Key Terms
| Particular | Details |
| Fund Name | 360 ONE Healthcare Opportunities Fund |
| Category | Category II AIF |
| Strategy | Healthcare & Life Sciences Private Equity |
| Investment Approach | Predominantly minority growth investments |
| Investment Stage | Growth-stage / mid-stage businesses |
| Focus | Healthcare and life sciences |
| Investment Manager | 360 ONE Asset |
| Fund Manager | Tarun Sharma |
| Target Fund Size | Approximately ₹1,000 crore |
| Expected Portfolio | Approximately 8–12 investments |
| Deal Size | Approximately ₹60–70 crore for smaller transactions and ₹120–130 crore for larger transactions |
| Key Areas | Healthcare services, diagnostics, medical devices, health-tech, specialty care and life sciences |
| Fund Structure | Private-market Category II AIF |
| Minimum Commitment | As per latest PPM and contribution documents |
The fund was targeting a corpus of approximately ₹1,000 crore and was expected to make around eight to 12 investments, according to statements from the fund's healthcare leadership. Indicative transaction sizes discussed for the strategy were approximately ₹60–70 crore for smaller investments and ₹120–130 crore for larger transactions.
The exact 360 ONE Healthcare Opportunities Fund minimum investment, fees, hurdle rate, carried interest and tenure should be taken from the latest PPM and contribution agreement rather than inferred from the target corpus or individual transaction sizes.
360 ONE Healthcare Opportunities Fund Investment Strategy & Framework
The 360 ONE Healthcare Opportunities Fund strategy is built around a fairly specific part of the healthcare investment cycle: companies that have moved beyond the earliest stages of development but still have substantial room to expand.
This is important because growth-stage healthcare investing sits between venture capital and traditional buyout investing. Businesses may already have operating history, customers, revenues and established products or services, but require capital and strategic support to enter new markets, expand capacity, strengthen technology or build a larger platform.
The strategy combines a healthcare-specific investment thesis with fundamental company evaluation and a predominantly minority-investment model.
Growth-Stage Healthcare and Life-Sciences Businesses
The fund focuses on growth-stage healthcare and life sciences businesses where there is evidence of product-market fit, operating traction and an identifiable path to further scale.
The rationale for focusing on this stage is straightforward. Healthcare businesses often require specialist knowledge because their growth can depend on clinical quality, regulatory requirements, technology, reimbursement structures, capacity expansion and patient outcomes.
A dedicated healthcare private equity India strategy can therefore evaluate these factors alongside conventional private-equity metrics such as revenue growth, profitability, valuation and cash generation.
The fund's investment thesis also recognises the potential for companies at this stage to mature into larger institutional businesses and, in some cases, potential IPO candidates over a longer holding period.
Minority Investing and Founder Partnerships
The fund follows a predominantly minority investment approach.
Rather than replacing the existing promoter or management team, the strategy seeks to partner with founders and management teams that have demonstrated expertise in their respective healthcare segments.
This approach can provide businesses with growth capital while allowing existing management to continue running the company. For the investor, the quality of the founder and management team becomes an important part of the underwriting process.
A minority stake does not mean an absence of governance or shareholder protections. The precise rights attached to each investment depend on the transaction structure and applicable agreements.
Business Quality, Scalability and Management Evaluation
The investment process evaluates more than just headline revenue growth.
A potential 360 ONE Healthcare Fund investment can be assessed across factors such as:
- Founder and management quality
- Corporate governance
- Business model
- Revenue scale and growth
- Unit economics
- Profitability and cash-flow potential
- Clinical quality
- Patient outcomes
- Market opportunity
- Competitive positioning
- Scalability
- Regulatory and compliance considerations
- Potential exit routes
For healthcare businesses, clinical and operating quality can be particularly important. A rapidly growing business may not necessarily make a strong private-equity investment if its growth comes at the cost of weak governance, poor unit economics or inadequate quality controls.
The strategy therefore looks for businesses where growth and underlying business quality can work together.
Healthcare Segments and Follow-On Growth Opportunities
The 360 ONE healthcare private equity fund has indicated interest in several healthcare segments, including:
- Hospitals and specialty care
- Diagnostics
- Medical devices
- Healthcare services
- Health-tech
- Women's healthcare and fertility
- Pharma and life sciences
- Contract development and manufacturing opportunities
The strategy has specifically highlighted medical devices and diagnostics as areas of interest, while also looking at single-specialty healthcare businesses and technology-enabled healthcare models.
The fund can also support portfolio companies as they move through different stages of expansion. This may involve additional growth capital, geographic expansion, capacity creation, technology investment or strategic initiatives, subject to the fund's mandate and available capital.
360 ONE Healthcare Opportunities Fund Portfolio & Deployment Track Record
The 360 ONE Healthcare Opportunities Fund portfolio includes healthcare businesses where the fund has made identifiable investments. Two publicly reported investments that can be specifically attributed to the fund are Hearzap and A4 Hospitals.
| Portfolio Company | Healthcare Segment | Investment Context |
| Hearzap / Hearing Solutions | Audiology and hearing healthcare | Series A minority investment of approximately ₹50 crore to support nationwide expansion |
| A4 Hospitals | Women's healthcare, fertility and maternity | Growth capital to expand services, strengthen the brand and expand across Tamil Nadu and newer geographies |
Hearzap
The fund invested approximately ₹50 crore in Series A funding in Hyderabad-based Hearing Solutions, also known as Hearzap. The investment involved a minority stake and was intended to support expansion of the company's operations across India.
Hearzap operates in audiology and hearing healthcare, combining physical hearing-care centres with technology-enabled services. The investment fits the fund's focus on specialised healthcare services and scalable healthcare platforms.
A4 Hospitals
In October 2024, the 360 ONE Healthcare Opportunities Fund entered into definitive agreements to invest in A4 Hospitals, an integrated women's healthcare chain based in Tamil Nadu with a strong presence in Chennai.
A4 Hospitals provides fertility treatments, including IVF, along with maternity and gynaecological services. At the time of the transaction, the chain had eight centres in Chennai and a team of more than 500 professionals.
The growth capital was intended to strengthen its service offerings, brand positioning and presence in Tamil Nadu while supporting expansion into newer geographies.
The transaction also reflects the fund's preference for specialised healthcare platforms where clinical expertise, founder capability and expansion opportunities can come together.
Other healthcare investments associated with the wider 360 ONE Asset platform should not automatically be treated as 360 ONE Healthcare Opportunities Fund portfolio companies unless the specific transaction is confirmed as belonging to this fund.
360 ONE Healthcare Opportunities Fund Minimum Investment, Fees, Tenure and Capital Calls
The commercial structure of a private-equity Category II AIF differs significantly from an open-ended public-market investment product.
Investors commit capital to the fund and the investment manager may draw that capital progressively as investments are identified and transactions are completed.
Minimum Investment
The 360 ONE Healthcare Opportunities Fund minimum investment should be confirmed from the latest PPM and contribution agreement. A fund's target corpus or typical transaction size should not be confused with the investor-level minimum investment.
Fund Tenure
The 360 ONE Healthcare Opportunities Fund tenure is governed by the fund documents and may include provisions for an extension where permitted.
Because private-equity investments require time for portfolio companies to scale and for exits to be executed, investors should approach the strategy with a long-term investment horizon.
Investment Period
The investment period determines the period during which the fund can deploy committed capital into new investments. The applicable duration and any extension provisions should be checked in the latest PPM.
Capital Calls and Drawdowns
Unlike a structure where the full commitment is invested immediately, a Category II private-equity fund can use capital calls or drawdowns.
The process generally works as follows:
- An investor commits a specified amount to the fund.
- The fund identifies investment opportunities.
- The manager issues a capital call for the required portion of the commitment.
- The investor funds the capital call within the specified timeline.
- Capital is deployed into portfolio companies.
- As investments are realised, proceeds can be distributed to investors according to the fund's distribution waterfall.
The investor therefore needs sufficient liquidity to meet future capital calls on time. The exact notice period, drawdown mechanics and consequences of delayed funding are governed by the fund documents.
360 ONE Healthcare Opportunities Fund Fees
The 360 ONE Healthcare Opportunities Fund fees may include management fees, fund expenses and performance-linked compensation.
The applicable management fee, hurdle rate, carried interest and other charges should be taken directly from the latest PPM and contribution documentation.
These terms matter because private-equity returns are generally discussed at different levels, including gross returns before fund expenses and net returns after fees and carry.
Evaluating 360 ONE Healthcare Opportunities Fund Performance
A private-equity fund should not be evaluated using the same framework as a daily-priced mutual fund or listed-equity strategy.
Metrics such as IRR, TVPI, DPI, RVPI and MOIC can provide a more useful picture of private-equity performance when sufficient track record data is available.
IRR
Private equity IRR measures the annualised rate of return while accounting for the timing of capital calls and distributions.
TVPI
TVPI, or Total Value to Paid-In, compares the total value of realised and unrealised investments against the capital contributed.
DPI
DPI, or Distributions to Paid-In, measures how much capital has actually been returned to investors relative to the capital they have contributed.
RVPI
RVPI, or Residual Value to Paid-In, represents the remaining unrealised value relative to paid-in capital.
MOIC
MOIC measures the multiple of invested capital generated by an investment or portfolio.
These metrics should be considered together. For example, a high TVPI supported mainly by unrealised portfolio value tells a different story from a similar TVPI accompanied by substantial DPI.
No current 360 ONE Healthcare Opportunities Fund performance, IRR, TVPI, DPI, RVPI or MOIC figure is stated here as a fund-level performance claim without verified scheme-level reporting.
Key Risks of 360 ONE Healthcare Opportunities Fund
The 360 ONE Healthcare Opportunities Fund risks are characteristic of private-equity investing and the healthcare sector.
Private-equity illiquidity: Investments in unlisted companies cannot generally be bought or sold as easily as listed securities. Investors should be prepared to remain invested for the fund's stated tenure.
Healthcare-sector concentration risk: A healthcare-focused strategy can be affected by sector-specific changes in regulation, technology, competition, healthcare spending and operating conditions.
Portfolio-company risk: Individual companies may fail to achieve projected revenue growth, profitability or expansion targets.
Regulatory and clinical risk: Healthcare businesses operate within regulatory frameworks, and clinical quality or compliance issues can materially affect a company's reputation and financial performance.
Valuation risk: Private companies are not continuously priced by public markets. Changes in valuation assumptions can affect reported portfolio values and eventual returns.
Exit risk: Private-equity returns depend partly on successful exits through strategic sales, secondary transactions, IPOs, promoter buybacks or other liquidity events.
Concentration risk: A fund investing in a limited number of portfolio companies can experience a meaningful impact from the performance of individual investments.
Key-person risk: Investment decisions depend on the experience and judgement of the fund-management team.
Capital-call risk: Investors must maintain sufficient liquidity to meet capital calls when they become due.
Who May Consider the 360 ONE Healthcare Opportunities Fund?
The fund may be considered by investors who meet the applicable minimum commitment, have a long investment horizon and understand the illiquid nature of private-equity investments. Investors should also be comfortable with capital calls, healthcare-sector concentration and the possibility that portfolio companies may take several years to reach an exit event.
The strategy is particularly specialised: it is not a broad-market equity fund but a healthcare-focused AIF investing in growth-stage private businesses. Investors therefore need to evaluate both the fund structure and the underlying healthcare investment thesis before committing capital.
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Tarun Sharma
He is associated with the healthcare investment strategy as Fund Manager and Head of Healthcare & Consumer at 360 ONE Asset. His background includes healthcare investing and private equity, with the fund's strategy built around identifying growth opportunities within India's healthcare and life-sciences ecosystem. His public commentary on the fund has highlighted the importance of specialist sector expertise, growth-stage investing and identifying businesses in areas such as diagnostics, medical devices and single-specialty healthcare.
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Find answers to common questions about fund investments, performance, portfolio strategy, and investor services.
The 360 ONE Healthcare Opportunities Fund is a healthcare and life-sciences-focused private-equity fund structured as a Category II AIF. It focuses primarily on growth-stage healthcare businesses and follows a predominantly minority-investment approach.
Yes. The 360 ONE Healthcare Opportunities Fund Category II AIF is structured as a private-equity vehicle focused on healthcare and life sciences.
The fund invests in growth-stage healthcare and life-sciences businesses. Areas of interest include hospitals, specialty care, diagnostics, medical devices, health-tech, healthcare services and other specialised healthcare opportunities.
Yes. Growth-stage healthcare investing is central to the strategy. The fund looks for businesses that have progressed beyond very early-stage development and have demonstrated potential for further scale.
The strategy has indicated interest in diagnostics, medical devices, single-specialty healthcare services, health-tech and other healthcare and life-sciences opportunities. Its identified investments also include women's healthcare and audiology.
Verified fund-level investments include Hearzap/Hearing Solutions and A4 Hospitals. The fund invested approximately ₹50 crore in Hearzap's Series A round, while A4 Hospitals received growth capital to support expansion and service development.
The applicable 360 ONE Healthcare Opportunities Fund minimum investment should be confirmed from the latest PPM and contribution agreement. The fund's target corpus and transaction sizes should not be used as a substitute for the investor-level minimum commitment.
The 360 ONE Healthcare Opportunities Fund fees, including management fee, fund expenses and performance-linked compensation, should be confirmed from the latest PPM. The same applies to the hurdle rate and carried interest.
The hurdle rate and carried interest are fund-specific commercial terms that determine how performance-linked compensation is calculated. The applicable figures should be reviewed in the latest PPM and contribution documents rather than inferred from general Category II AIF practices.
Investors make a capital commitment and the fund can call portions of that commitment as investments are identified and capital is required. Investors must maintain sufficient liquidity to meet valid capital-call notices within the specified timelines.
The 360 ONE Healthcare Opportunities Fund tenure is governed by the latest fund documents, including any permitted extension provisions. Investors should therefore check the current PPM for the exact tenure and investment-period structure.
Tarun Sharma is publicly identified as Fund Manager, Healthcare and Consumer, Private Equity at 360 ONE Asset and has been associated with the Healthcare Opportunities Fund's investment strategy and transactions.
Key risks include private-equity illiquidity, healthcare-sector concentration, portfolio-company execution risk, regulatory and clinical risk, valuation risk, exit risk, concentration risk, key-person xrisk and the obligation to meet capital calls.
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