3 days ago
- Business
- New Straits Times
Hartamodal invests in Indian healthtech platform through RM70mil Dana Impian Fund
KUALA LUMPUR: Malaysian venture capital firm Hartamodal Sdn Bhd has made its first domestic investment through its RM70 million Dana Impian Fund, backing India-based healthtech platform Connect & Heal.
It is a milestone for Hartamodal, the wholly-owned VC arm of Tradeview Capital Sdn Bhd, as it seeks to empower Malaysian entrepreneurs, both local and abroad, who demonstrate strong vision and execution capabilities.
Hartamodal executive director Tan Cheng Wen said the investment represents its intention to support Malaysian founders with the ability to execute and help the country advance
"We focus on backing founders with grit who can build and have the vision to tackle tough problems.
"Dana Impian is all about giving opportunities to entrepreneurs and funding their dreams," he said in a statement today.
Tan added that Connect & Heal's track record in India provided strong confidence in its potential for local replication.
Dana Impian Fund, which targets earnings before interest, taxes, depreciation and amortisation-positive or cash flow-positive companies, invests between RM500,000 and RM10 million across sectors.
This is particularly in healthcare technology, renewable energy, fintech, agritech, industrial manufacturing and consumer retail.
Founded in 2017, Connect & Heal has grown into India's leading managed care platform, serving over six million lives across 450 cities and completing more than one million clinical transactions annually.
The platform was co-founded by Galveen Kaur, Elwinder Singh and Salveen Kaur, alongside chief executive officer Sanjay Vinayak.
The team chose to first build the business in India's challenging market, aiming to prove its scalability before expanding back into Malaysia.
Its end-to-end care management services cater to multinational corporations and insurers, supporting over 600 organisations, including more than 30 Global Fortune 500 organisations.
