Quadria Group Launches USD 300 Mn HealthQuad Fund III to Boost Healthcare Innovation

Entrepreneur

18-06-2025

The fund includes a target corpus of USD 200 million and a USD 100 million greenshoe option, aiming to further expand its footprint in the healthcare innovation space across India and Asia.
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Quadria Group, a leading healthcare-focused private equity platform, has announced the launch of HealthQuad Fund III, with a proposed fundraise of up to USD 300 million. The fund includes a target corpus of USD 200 million and a USD 100 million greenshoe option, aiming to further expand its footprint in the healthcare innovation space across India and Asia.
HealthQuad Fund III follows the success of its predecessor funds, which collectively backed over 18 disruptive, tech-enabled healthcare ventures. These include names like Qure.ai, Medikabazaar, THB, Wysa, and Redcliffe Labs, many of which have emerged as category leaders.
"With Fund III, we aim to thoughtfully combine Quadria's healthcare expertise, global capital network, and institutional partnerships to build a more integrated healthcare investment platform for India," said Sunil Thakur, Co-founder and Investment Committee Member at HealthQuad. "The encouraging outcomes from Funds I and II give us the confidence to further our mission of creating both financial and social value."
HealthQuad was incubated in 2016 as a distinct initiative by Quadria Group to support early-growth healthcare startups with a strong technology focus. Now, with full ownership of Fund III and its separation from former partner KOIS, Quadria is poised to build India's most influential healthcare investment franchise.
"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," said Dr Amit Varma, Co-founder and Investment Committee Member, HealthQuad. "With expanded leadership, we are better positioned than ever to deliver cross-regional value across South Asia, Southeast Asia, and the GCC."
Quadria has retained most of its core investment team and plans to strengthen it further with seasoned investing, operating, and clinical professionals. The firm recently closed Quadria Capital Fund III at USD 1.07 billion, highlighting robust investor confidence.
"HealthQuad is not just a fund—it's Quadria's conviction in motion," said Abrar Mir, Co-founder and Investment Committee Member. "We've built a unique platform supporting diverse healthcare models, accelerating their growth with our powerful ecosystem."
Founded in 2012, Quadria Capital now manages over USD 4 billion in assets across 27 investments in India, Vietnam, Indonesia, Malaysia, and Singapore, with a mission to improve healthcare access, quality, and affordability at scale.