Invidia Capital Management, the private equity firm of Jyothsna “Jo” Natauri, is raising funds for its first round of capital to invest in upmarket healthcare buyouts.
Invidia is seeking $850 million for its debut pool, according to an Oct. 30 filing regulatory fileWhile GCM Grosvenor is acting as an anchor investor for the fund. Invidia plans to achieve the first close of the fund in the first quarter of 2025, a person familiar with the situation said. The firm is also hiring a partner with experience in healthcare deals who is expected to join soon, another person said.
Natauri, a former Goldman Sachs partner, launched Invidia earlier this year. The PE firm targets healthcare deals and plans to invest $100 million to $300 million per transaction. Invidia will make minority and control investments in healthcare subsectors such as pharmaceutical procurement and contract manufacturing, medical devices and health information technology. WSJ Pro.
Natauri said that Invidia will seek to make six to eight investments luck in August “Health care is an industry that’s outnumbered in private equity buyouts,” he said, adding that demand will never go away. “Science and innovation will continue in healthcare and I think that’s pretty safe.”
Natauri declined to comment on fundraising efforts.
Natauri originally hoped to become a doctor but could not stand the sight of blood, so he went into the medical business. He spent 17 years at Goldman, initially as a healthcare banker, and became a partner in 2012. He moved to Goldman’s merchant banking division, joined the special situations group (SSG) and then combined it with asset management in 2020.
Most recently, Natauri was Goldman’s global head of private health and investing, leaving in December. During Natauri’s tenure, Goldman invested At chemicals manufacturer Avantor in 2017, which was made public two years later In 2021, IB too partner Charlesbank to control MDVIP, a network of primary care physicians, and, in a separate agreement, GS in the group With EQT, Parexel, a clinical research organization, was valued at $8.5 billion.
Natauri is a former Goldman executive who has started a private equity fund. One of the most famous is Alan Waxman, a former GS partner, who start up Sixth Street Partners in 2009, along with several other former Goldman executives. Recently, Tom Connolly and Michael Koester, both former Goldman partners, founded 5C Investment Partners, a private credit firm. Bloomberg notify Thursday
Although the names are similar, Invidia Capital is not related to NVIDIA, the chip designer with a market capitalization of $3.28 trillion. When she started her company, Natauri wanted a strong name and took note of Greek and Roman mythology, but said many male names were already in use. Invidia is the Roman goddess of envy, he said. Envy is used to inspire, to motivate, he said. “It was a good fit for what we were trying to do,” he said.
