HealthQuad to raise $300 million third fund amidst reorganization
Also Read | Quadria Capital-backed Maxivision on expansion spree, eyes IPO by 2027
'The firm has refiled its papers with the markets regulator to raise the third fund. The refile shows only Sunil Thakur, Amit Varma and Abrar Mir, the founders of Quadria as the GPs of the firm," one of the persons cited above said.
In 2015, when HealthQuad was set up to invest in early-stage healthcare opportunities in India, the three partners had roped in Charles-Antoine Janssen as the fourth founder and appointed him as chief investment officer.
'Now these three founders have taken back control. Janssen is parting ways to start his own fund—HealthKois," the person said. Two top executives at HealthQuad—Pinak Shrikhande and Ajay Mahipal—are also leaving with Janssen.
Also Read | Quadria to invest half its India capital in climate-related healthcare solutions
HealthQuad and Janssen spokespersons did not respond to emailed queries seeking comments. Mahipal, too, did not respond to messages on LinkedIn. Shrikhande could not be reached for comment.
As per Janssen's LinkedIn profile, apart from being associated with HealthQuad, he cofounded KOIS s.a. with François de Borchgrave, a global impact investing firm (blended finance structuring and investment management) active in healthcare, education/skilling and living environments. He is a member of the investment committee of two other KOIS funds: Tara IV (India VC/PE healthcare and social entrepreneurship focus) and Impact Expansion (EU/PE Impact focus). Janssen is based in Belgium.
'The commercials of the first two funds will continue to remain the same. From the third fund onwards, the firm will have only three partners," the second person added. Janssen is likely to launch his firm, which will source deals in the early to growth stage in India. Though the exact strategy is not clear at this point in time.
HealthQuad raised its first fund of ₹75 crore in 2016. It has yet to exhaust its second fund, which has a corpus of $162 million. Some of its portfolio companies include the Asian Institute of Nephrology and Urology (AINU), HealthifyMe, Medikabazaar, Qure.ai, THB, Impact Guru, Ekincare and Stanplus.
The reorganization at HealthQuad comes as the parent company, Quadria Capital, announced the closing of its third fund with $1.07 billion in total commitments. The oversubscribed fundraise comprises over $954 million in primary commitments and $114 million in committed co-investment capital. An additional $300 million co-investment capacity is anticipated over the course of the investment phase, bringing total committed capital to approximately $1.3 billion upon full deployment, Mint reported earlier this week.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
20 minutes ago
- News18
‘Outwork System, Outbuild Giants': Soham Parekh's Advice For Tech Workers Amid Layoffs
Last Updated: TCS plans to lay off 12,000 employees, about 2 percent of its workforce, to realign its strategy amid evolving tech needs. Tech giant Tata Consultancy Services (TCS) has announced to lay off around 12,000 employees—or roughly 2 per cent of its global workforce—over the course of the current financial year. The move is part of the company's broader effort to realign its workforce strategy and position itself as a 'future-ready" organisation, amid evolving technology and operational requirements. The industry is in shock with many criticising the move while others see it as inevitable with the rise of artificial intelligence in the sector. Meanwhile, Soham Parekh, the Indian tech professional who shot to infamy for working full-time at multiple startups simultaneously, weighed in on the layoffs news and offered advice to tech professionals. Reacting to a post that claimed 'TCS will freeze the hiring of experienced personnel and pause annual salary increases globally," Parekh advised techies to outwork the system. 'Don't wait for handouts. Learn fast. Build harder. Your skills are your leverage. Outwork the system. Outlearn the gatekeepers. Outbuild the giants," he said in a post on X. His reaction came after TCS confirmed that the layoffs will primarily affect middle and senior management positions. The company stated that rehiring for these roles would not be feasible. 'Several reskilling and redeployment programs have been in progress. However, some associates will be released as their roles cannot be restructured to match future demands," TCS said in its official statement. The decision, which marks one of the largest retrenchment drives in TCS's history, comes amid multiple structural challenges — ranging from margin pressures and skill mismatches to disruption from artificial intelligence (AI). TCS currently employs over 6.13 lakh people. Who Is Soham Parekh? Soham Parekh, an Indian software engineer based in Mumbai, made the headlines after he was publicly accused by Suhail Doshi, co-founder of Playground AI and former Mixpanel CEO, of secretly working full-time at 3–4 US-based startups simultaneously, including Y Combinator‑backed firms such as Dynamo AI and Synthesia. Parekh admitted to this in an interview, explaining that dire financial hardship forced him into the arrangement and that he often worked 140-hour weeks. While some praised his technical skill, most expressed concern over the ethical breach. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
3 hours ago
- Time of India
After CEO, three more directors, HSE head quit Rosneft-backed Nayara Energy
New Delhi: Three directors and two senior executives, including the head of Health, Safety, and Environment (HSE), have resigned from Russian energy giant Rosneft-backed oil refiner Nayara Energy after the company was sanctioned by the European Union, sources aware of the matter said. Victoria Cunningham, Avril Mary Anne Conroy and Jorg Tumat, who were on the board of directors of Nayara Energy, have resigned earlier this month, the sources said. Besides, Barbara (Hofbauer) Oberhauser, who was senior vice president and Head HSE, too has resigned. The resignations follow chief executive Alessandro Des Dorides quitting the company shortly after the European Union imposed sanctions on Nayara as part of a new raft of measures against Russia over its war with Ukraine. An email sent to the company seeking reactions remained unanswered. Sources said that Des Dorides, along with the three directors who resigned, were all European - a nationality that made it untenable for them to remain with a company under EU sanctions. Oberhauser was from Austria and served as HSE head at Nayara between November 2022 and July 2025. Another official, who was practically No.2 on refinery operations side, too has resigned for the very same reason, sources said. Nayara had earlier this week denounced the latest EU sanctions against it as unjust and harmful to India's interests, and said it was studying legal options. Rosneft too had condemned sanctions on Nayara Energy as unjustified, illegal, and described them as a direct threat to India's energy security. The European Union's 18th package of sanctions against Russia over its war with Ukraine was approved earlier this month with a view to weakening its revenue sources. Nayara Energy was one of the companies that was sanctioned. Rosneft owns a 49.13 per cent stake in Nayara Energy Ltd, formerly Essar Oil Ltd. Nayara owns and operates a 20-million tonnes a year oil refinery at Vadinar in Gujarat, as well as over 6,750 petrol pumps. Besides Rosneft, an investment consortium SPV, Kesani Enterprises Company, holds another 49.13 per cent stake in Nayara. Kesani is owned by Russia's United Capital Partners (UCP) and Hara Capital Sarl, a wholly-owned subsidiary of Mareterra Group Holding (formerly Genera Group Holding S.p.A.). Sources said Cunningham, who has been on the board of Nayara since January 2020, was co-managing partner of UCP. Tumat, who has been on the board of Nayara since July 21, 2023, came from Germany. Conroy had been on the board of Nayara since May 23, 2020. Nayara has replaced Des Dorides with Sergey Denisov as the new CEO of the company, they said. Des Dorides had joined Nayara Energy in April 2024. He was previously the head of oil trading at Eni where he was sacked for withholding information on illegal Iran oil trade. Denisov, who has been with Nayara since 2017, previously was its chief development officer.>
Time of India
3 hours ago
- Time of India
Indian owners of three ships ask sanctions-hit Nayara Energy to release the vessels, sources say
The Indian owners of three vessels chartered to Nayara Energy have asked the Russian-backed firm to end their contracts following recent European Union sanctions on the refiner, six sources familiar with the matter said on Tuesday. India-based Seven Islands Shipping Ltd and Great Eastern Shipping Co (GESCO) have asked Nayara to release the three clean products tankers , citing concerns over the sanctions, five of the sources said. Explore courses from Top Institutes in Please select course: Select a Course Category Healthcare Data Science Product Management Degree Cybersecurity Design Thinking Public Policy Project Management Data Science Technology CXO Digital Marketing healthcare Leadership Others PGDM Artificial Intelligence Operations Management others MBA MCA Data Analytics Management Finance Skills you'll gain: Financial Analysis in Healthcare Financial Management & Investing Strategic Management in Healthcare Process Design & Analysis Duration: 12 Weeks Indian School of Business Certificate Program in Healthcare Management Starts on Jun 13, 2024 Get Details The medium-range vessels are the Bourbon and Courage, owned and managed by Seven Islands, and GESCO's tanker Jag Pooja, sources said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This New Barefoot Shoe is Game Changer for Seniors Barefoot Vitality Undo The sources declined to be named as they were not authorised to speak to the media. Mumbai-based Nayara, Seven Islands and GESCO did not immediately respond to requests for comment. Live Events Lack of access to ships is hampering efforts by the Indian refiner to sell its refined-fuel stocks, which are building up. The EU sanctions package unveiled on July 18 against Russia and its energy sector have forced Nayara to reduce operations at its 400,000 barrels per day (bpd) refinery due to storage constraints, Reuters reported earlier on Tuesday. Privately held Nayara, which runs India's third-biggest refinery at the port of Vadinar in the western state of Gujarat, controls nearly 8% of the country's total refining capacity of about 5.2 million bpd. Nayara, majority-owned by Russian entities including oil major Rosneft , exports refined products and also supplies them domestically. Nayara operates more than 6,000 fuel stations.
