Quadria Group on Tuesday said it has launched HealthQuad III, its healthcare-focused venture capital (VC) fund investing in early-stage startups in India, with a targeted corpus of $200 million and a greenshoe option of an additional $100 million.
The new fund launch comes as Quadria assumes full ownership of the HealthQuad platform, ending its eight-year partnership with impact investment firm KOIS. Quadria group, through Dr. Amit Varma, Abrar Mir and Sunil Thakur, will assume full ownership and control of the platform following its separation from KOIS.
Earlier this month, HealthKois launched its separate new fund with a target corpus of $300 million, and an additional green shoe option of $100 million.
Quadria Group has retained a large part of the existing investment and investment committee team members, who will continue to be involved in the existing portfolio investments, the firm said in a statement.
HealthQuad Fund II concluded its final close in March 2022, amassing a total of $162 million. The venture capitalist’s first fund was closed at $11.6 million in 2017. It counts companies such as Medikabazaar, THB, Regency, AINU, Strand Life Sciences, Hi-impact, and Neurosynaptic Communication among its portfolio companies.
Some of the fund’s exits include Strands Life Sciences, Regency, and Asian Institute of Nephrology, along with one partial exit from Medikabazaar.
“India presents one of the world’s most compelling healthcare investment opportunities, driven by growing demand, digital acceleration, and underserved segments across primary, diagnostic, and chronic care,” Varma said.
“With the full ownership of Fund III and expanded leadership, we are better positioned than ever to deliver cross-regional value for our portfolio companies, across South Asia, Southeast Asia, and the GCC, creating an unparalleled platform for health innovation,” he added.
Separately, last month, private equity firm Quadria Capital, which focuses on healthcare investments across South and Southeast Asia, closed its third fund with total commitments of $1.07 billion, significantly exceeding its $800 million target.
Quadria Capital manages over $4 billion in assets across 27 investments in South and Southeast Asia, including India, Vietnam, Indonesia, Malaysia and Singapore.
