India-focused private equity fund manager InvAscent has closed India Life Sciences Fund III at its hard cap of US$250 million in commitments. Investors in the fund—which will provide equity growth capital to India-based pharmaceutical, health care and medical technology companies—include pension funds, endowments, family offices and funds of funds from the United States and Europe. Concurrently, InvAscent has invested in two India-based companies through its third fund. The firm committed US$10 million to animal health products company Intron Life Sciences and US$20 million to Strides Consumer, a developer of over-the-counter products aimed at helping smokers reduce nicotine dependence and quit smoking.