Mumbai, Sept. 7 -- Tata Capital Healthcare Fund (TCHF) expects to return cash to investors for over half of the companies in its recently launched Rs.2,500 crore third fund through initial public offerings (IPOs), in a shift from the earlier funds that predominantly exited via strategic sales and secondary transactions, a top executive at the firm said.

"Our first fund, which primarily focused on early-growth companies, relied heavily on strategic acquisitions and secondary sales for exits, while the second fund is also expected to see secondary sales as the exit route, alongside a few IPOs," Visalakshi Chandramouli, managing partner at the firm, told Mint in an interview. "In the third fund, we will see an evolution as we anticipate a b...