Kotak Alternate Asset Managers Ltd has announced the first close of its third healthcare and life sciences-focused private equity fund, raising Rs 250 crore from various investors, including family offices and institutions. The fund aims for a total corpus of Rs 1,600 crore, targeting investments in early to growth-stage companies across sectors like pharma, biotech, and digital health. Over the past two years, Kotak has invested nearly Rs 4,000 crore in the life sciences area. The firm previously launched two life sciences funds, marking significant investments in the healthcare sector since its inception in 2005.