Chennai's Iswarya Fertility Center Raises Over Rs 350 Crore From OrbiMed Asia

Chennai-based IVF chain Iswarya Fertility Center has secured more than ₹350 crore (approximately $37 million) in private equity funding from global healthcare investor OrbiMed Asia. The major capital infusion, which represents one of the largest private equity investments in India’s fertility sector, will fund the company’s expansion across India and its planned entry into West Asia and other overseas markets.

The transaction marks a major milestone for the Chennai-headquartered fertility care provider. Despite building a network of over 80 centres across eight states over a span of four decades, the company had never previously tapped private equity.

Arun Muthuvel, the managing director and second-generation leader of Iswarya Fertility Center, chose to raise patient private equity capital instead of opting for conventional bank financing. Muthuvel explained that unlike bank loans that demand quick repayment, private equity gives healthcare businesses the necessary time to mature. This is crucial in the fertility and healthcare sector, where new hospitals and clinics typically take three to four years to become profitable.

The investment highlights a growing trend of Tamil Nadu-based firms turning to private equity to finance their long-term growth. Data from research firm Venture Intelligence shows that Tamil Nadu-headquartered companies accounted for nearly 5.3% of the 642 PE-VC deals in India during the first half of CY2026. The value of these transactions made up 2.2% of the $17.5 billion invested nationally during that period.

Arun Natarajan, the founder of Venture Intelligence, noted that private equity investments in Tamil Nadu are on the rise year-on-year, representing about 10% of the national total by value in CY2025. He stated that equity funding is highly preferred by startups that lack collateral, while more mature companies raise PE capital for strategic guidance, financial direction, and valuation-benchmarking before an IPO.