MUMBAI, March 2 -- Novo Holdings, which has backed companies including Surya Hospitals and Manipal Hospitals, is writing larger cheques and shifting towards more mature healthcare assets in India.

"Of the 18 companies we have invested in Asia, about half have been deployed in India, and our ticket sizes have gradually risen. Initially, we were doing smaller cheques of about $20-30 million, which has now expanded to $40-100 million. Although we continue to do minority investments, we now place more focus on mature and more developed assets," said Amit Kakar, managing partner and head of Novo Holdings Asia.

The Denmark-based firm, which began investing in India in 2022, has steadily increased both cheque sizes and follow-on commitments as...