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Business Standard
4 days ago
- Business
- Business Standard
Quadria closes $1.07 bn healthcare fund, seeks growth in India and S Asia
Quadria Capital has closed its Fund III at $1.07 billion after exceeding the target to raise $800 million, said the healthcare-focused private equity (PE) firm on Tuesday. The amount raised includes $954 million in primary commitments and $114 million as co-investment capital. A further $300 million is expected to be raised in co-investments later and the total capital available could reach up to $1.3 billion, said the Singapore-based firm in a statement. The amount raised is almost 60 per cent more from the $600 million the company's second plan got in 2020, making III the largest dedicated healthcare PE fund for South and Southeast Asia. 'Asia's healthcare sector is at a pivotal moment, and it will remain in the limelight in 2025, especially with investment interest in India in areas like single speciality hospitals, diagnostic chains, medical devices, and pharmaceutical manufacturing,' said Amit Varma, cofounder and managing partner at Quadria Capital. The sector will grow because of higher healthcare consumption, 'cost-efficiency initiatives and technology integration', he said. Fund III drew participation from existing investors, who boosted their commitments by an average of 80 per cent, as well as global institutions across North America, Europe, the Middle East, and Asia. New backers included sovereign wealth funds, insurance firms, and family offices, particularly from west Asia and India. Fund III is already nearly 40 per cent deployed, with investments in Aragen Life Sciences, NephroPlus, and Maxivision. Two additional transactions in Southeast Asia are expected to close soon, the company said. Founded in 2012, Quadria manages more than $4 billion in assets across 27 companies. The firm said it plans to build a portfolio of about 10 market-leading healthcare businesses with Fund III, through majority and minority stakes, and co-investments.
Reuters
5 days ago
- Business
- Reuters
Quadria Capital secures $1.07 billion for third Asia healthcare fund
SINGAPORE, May 27 (Reuters) - Asian healthcare-focused private equity firm Quadria Capital said on Tuesday it has secured total commitments of $1.07 billion for its third fund, surpassing an original target of $800 million. Reuters reported in September 2023 that Quadria was looking to raise up to $1 billion for its third and biggest fund to tap into the fast-growing sector in South and Southeast Asia. "Asia's healthcare sector is at a pivotal moment, and it will remain in the limelight in 2025, especially with investment interest in India," Amit Varma, co-founder and managing partner of Quadria, said in a statement. Quadria said the fundraise is around 60% larger than its previous $600 million fund raised in 2020, making it the largest healthcare private equity fund in South and Southeast Asia. It said the oversubscribed fundraise comprises over $954 million in primary commitments and $114 million in committed co-investment capital, with an additional $300 million co-investment anticipated over the course of the investment phase. It added that its largest existing backers include North American and European sovereign wealth funds, asset managers and strategic corporates. The company said it also secured new commitments from global institutional investors including strong backing across the Gulf Cooperation Council and interest from India as well as commitments from impact investors. Quadria said the fund will build a diversified portfolio of around 10 market-leading companies, taking both significant minority and majority stakes. It added that already nearly 40% of the fund was deployed, with investments made in Aragen Life Sciences, dialysis chain NephroPlus and eye care chain Maxivision. Quadria said two new investments in Southeast Asia are expected soon.
Mint
5 days ago
- Business
- Mint
Healthcare investor Quadria raises $1.1 billion for Fund III, exceeds target
Quadria Capital, a private equity firm focused on healthcare in Asia, has closed its third fund with $1.07 billion in total commitments, exceeding its original $800 million target, the firm said. For the first time, it has raised around 10% of the fund from Indian investors, including family offices, insurance companies, and corporates, Amit Varma, co-founder and managing partner of Quadria Capital, told Mint in an interview. Also Read | Quadria to invest half its India capital in climate-related healthcare solutions Quadria Capital's largest existing backers include prominent North American and European sovereign wealth funds, asset managers and strategic corporates. The Fund also secured new commitments from institutions across the Gulf Cooperation Council (GCC), including Saudi Arabia, the UAE, and Bahrain, it said. The oversubscribed fundraise comprises over $954 million in primary commitments and $114 million in committed co-investment capital. The firm said an additional $300 million in co-investment capacity is anticipated over the course of the investment phase, bringing total committed capital to approximately $1.3 billion upon full deployment. Also Read | Quadria Cap-backed Maxivision plans to expand, eyes IPO by 2027 'About 60% of the fund is likely to flow into India," Varma told Mint, adding that almost 48% of the fund has already been deployed. 'We are likely to fully deploy this fund III by 2027." The latest fundraising effort is approximately 60% larger than the firm's previous $600 million fundraising effort in 2020. Through this new fund in India, the firm has backed companies such as NephroPlus and Maxivision Eye Hospitals, Medibuddy and Encube Ethicals. It has also successfully exited from companies such as Akums Drugs and Pharmaceuticals, Concord Biotech, Healthcare at Home and AIG. Also Read | Quadria Capital to complete returning Fund 1 by year end Talking about its performance in the second fund, Varma said that the fund, which began investing in 2021, is marked at over 2x the principal capital. It has reported a DPI (distributed paid-in, which is a measure of capital already returned to Limited Partners or LPs) at 1.1x. 'We should be completely exited by 2027 with a DPI of almost 1.1x," Varma said. Varma said that through Fund III, the firm will seek to write larger cheques in approximately 10 market-leading companies, taking significant minority and majority stakes. 'We are looking at opportunities in med tech and diagnostics, because of who we are in our success in hospitals. I think the other area where we are beginning to see smaller ticket sizes is digital health opportunities, where people are looking at end point (near the customer), point of care, testing. And lastly, adjacencies, especially in planetary health and services," he said. Planetary health refers to the changing disease profiles due to climate change. Founded in 2012, Quadria Capital manages over $4 billion in assets across 27 investments in South and Southeast Asia, including India, Vietnam, Indonesia, Malaysia and Singapore. The target corpus of Quadria Capital's first fund was $300 million, although it eventually invested $450 million, including co-investments from its LPs. It raised $600 million in 2016 towards its second fund, and eventually deployed $750 million, including limited partner co-investments. Varma said that 40% of the new fund will go to other Asian countries and the GCC, adding that the India-GCC corridor is becoming increasingly important.
Business Wire
5 days ago
- Business
- Business Wire
Quadria Capital Closes Oversubscribed US$1 Billion Fund III to Advance Healthcare Transformation Across Asia
SINGAPORE--(BUSINESS WIRE)-- Quadria Capital, Asia's premier healthcare-focused private equity firm, today announced the final close of its Fund III with US$1.07 billion in total commitments, significantly exceeding its original $800 million target. The oversubscribed fundraise comprises over US$954 million in primary commitments and US$114 million in committed co-investment capital. An additional US$300 million co-investment capacity is anticipated over the course of the investment phase, bringing total committed capital to approximately US$1.3 billion upon full deployment. This latest fundraise is around 60% larger than the firm's previous $600m fund raised in 2020, cementing Quadria's position as the largest dedicated healthcare private equity fund in South and Southeast Asia. 'Fund III's close, amid one of the most demanding fundraising climates in recent memory, is a powerful validation of our strategy and our mission,' said Abrar Mir, Co-Founder and Managing Partner, Quadria Capital. 'It reflects deep global investor conviction in the transformational opportunity in Asian Healthcare, where social impact and financial performance go hand in hand.' Global Institutional Backing Across Continents At a time when global capital is cautious, Quadria's ability to consistently attract top-tier global investors underscores the strong conviction in its investment strategy and the undeniable opportunities in the Asian healthcare market. Quadria Capital's largest existing backers include prominent North American and European sovereign wealth funds, asset managers, and strategic corporates. The Fund also secured new commitments from globally recognized institutional investors. Most notably, there was strong backing from leading institutions across the GCC, including Saudi Arabia, the UAE, and Bahrain. The fundraise further attracted interest from India, with fresh capital from major banks, insurance companies, and family offices. Additionally, the Fund received robust re-up commitments from impact investors - underscoring Quadria's continued dedication to scalable, high-impact healthcare businesses that deliver lifesaving care to underserved populations across Asia. Positioned for Structural Growth in Asia's $5 Trillion Healthcare Market 'With Asia expected to drive 40% of global healthcare growth by 2030 1, Fund III positions Quadria to lead a new era of private capital-driven healthcare transformation across the region,' Abrar Mir added. 'Asia's healthcare sector is at a pivotal moment, and it will remain in the limelight in 2025, especially with investment interest in India in areas like single-specialty hospitals, diagnostic chains, medical devices, and pharmaceutical manufacturing, which includes APIs and CDMOs. This sector will see growth because of higher healthcare consumption, cost-efficiency initiatives, and deepening technology integration. We are entering a golden decade of healthcare transformation,' said Dr Amit Varma, Co-Founder and Managing Partner, Quadria Capital. Fund III will build a diversified portfolio of approximately 10 market-leading companies, taking both significant minority and majority stakes, and further scaling impact through targeted co-investments from Limited Partners (LPs). Already nearly 40% deployed - including closed and signed investments - the fund has invested in Aragen Life Sciences (a global CRDMO serving over 400 pharma clients), NephroPlus (Asia's largest dialysis chain), and Maxivision (India's leading eye care chain). Two new investments in Southeast Asia are expected soon. Fund III builds on Quadria Capital's track record of successful exits from Funds I and II, underscoring the strength of its investment strategy, operational expertise and ability to distribute capital back to investors. About Quadria: Founded in 2012, Quadria Capital is Asia's premier healthcare investor managing over US$4 billion in assets across 27 investments in South and Southeast Asia including India, Vietnam, Indonesia, Malaysia and Singapore. Quadria Capital aims to create significant and sustainable shareholder value by partnering with exceptional healthcare businesses to enhance their impact and scale, while generating superior returns for investors.
Economic Times
5 days ago
- Business
- Economic Times
Quadria's third fund nets $1 billion, to deploy 60% in India
Mumbai: Quadria Capital, an Asia healthcare-focused private equity firm, has raised $1.07 billion for its third fund, exceeding its original target of $800 million, according to a senior executive. The oversubscribed fund comprises $954 million in primary commitments and $114 million in co-investment capital. An additional $300 million in co-investment capacity is expected over the investment period, bringing total capital deployment potential to about $1.3 billion. The fundraising is nearly 60% larger than Quadria Capital's previous $600 million fund closed in firm plans to deploy about 60% of the new capital in India, with the remainder allocated to other Association of Southeast Asian Nations (ASEAN) members. Nearly 40% of the fund has already been invested in companies such as Aragen Life Sciences (a contract research and manufacturing firm), NephroPlus (a dialysis chain) and Maxivision (an eye care chain)."This is the first time we've seen significant domestic capital commitments from India," Amit Varma, co-founder and managing partner at Quadria Capital, told ET. "Previously, we hadn't raised money from Indian investors, but this time, we received backing from banks, insurance companies and family offices." Existing investors increased their commitments by 80% on average, he Capital's investor base includes sovereign wealth funds, asset managers and strategic corporations from North America and Europe."In India, we follow two investment models," Varma said. "The first focuses on building for India-services like hospitals, diagnostics and specialty care. The second involves building in India for global markets, such as contract manufacturing businesses like Aragen." Varma emphasised that India's growing role in global pharmaceutical and medical technology supply chains presents a unique opportunity. "This tariff uncertainty is a once-in-a-lifetime chance for Indian businesses to pivot. We've relied on easy wins-manufacturing here and exporting to the west-but now it's time to build real scalable value and a specialist mindset to upscale products," he said.
