Latest news with #Quadria
Mint
3 days ago
- Business
- Mint
HealthQuad to raise $300 million third fund amidst reorganization
HealthQuad, the early to growth stage healthcare-focused investor backed by private equity firm Quadria Capital, is looking to raise its third fund of around $300 million. This new fund comes at a time when there is a split in the general partners (GPs) that manage HealthQuad, people with knowledge of the development said. 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, 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.
New Indian Express
5 days ago
- Business
- New Indian Express
Quadria's oversubscribed fund: What it signals for Asia's healthcare industry
'It reflects the strong global investor confidence in the transformational opportunity within Asian healthcare, where social impact and financial performance go hand in hand,' confirms Abrar Mir, co-founder and managing partner at Quadria Capital. Quadria Capital said in a statement on Tuesday that Fund III drew support from prominent sovereign wealth funds, asset managers, and strategic corporates across North America and Europe. It also secured new commitments from globally recognised institutional investors, with notable participation from leading institutions in the GCC—including Saudi Arabia, the UAE, and Bahrain. In India, the Fund attracted new capital from major banks, insurance companies, and family offices. Additionally, robust re-up commitments from impact investors reaffirm Quadria's dedication to building scalable, high-impact healthcare businesses that deliver lifesaving care to underserved populations across Asia. Asian Healthcare Scenario Currently Asia's healthcare market is estimated to be $5 trillion, and the healthcare industry is reportedly at a pivotal inflection point and will remain a focal area into 2025. "In India, particularly, we're seeing significant investment interest in single-specialty hospitals, diagnostics, medical devices, and pharmaceutical manufacturing—including active pharma ingredients (APIs) and contract (drug) development and manufacturing (CDM). These segments are poised for growth due to increasing healthcare consumption, cost-efficiency initiatives, and deeper technology integration," says Dr Amit Verma, co-founder and managing partner, Quadria Capital. Healthcare growth funds like Quadria's typically provide the industry with strategic guidance and operational support to help scale their businesses and achieve market leadership. Quadria claims that nearly 40% of Fund III is already deployed. Its current investments include Aragen Life Sciences (a global CRDMO serving 400+ pharmaceutical clients), NephroPlus (Asia's largest dialysis chain), and Maxivision (India's leading eye care chain). Two new investments in Southeast Asia are expected shortly, it says. India Impact India is rapidly emerging as a strategic hub for global pharmaceutical and MedTech manufacturing as supply chains diversify, especially with the China plus strategy. While the per capita healthcare spending in India remains low at just $74—far below regional peers like Thailand (US$364) and Malaysia (US$487)—with nearly 50% of healthcare costs still paid out-of-pocket, the healthcare focused funds can catalyse Indian healthcare innovation by strategically investing in high-growth areas such as specialised care and pharmaceutical manufacturing, aiming to create scalable, affordable healthcare solutions for over a billion people.
Business Upturn
5 days ago
- Business
- Business Upturn
Quadria Capital Closes Oversubscribed US$1 Billion Fund III to Advance Healthcare Transformation Across Asia
New Delhi, Delhi, India: Fund close exceeds initial target despite a challenging fundraising environment, reflecting strong investor confidence in India and Southeast Asia healthcare Existing investors increased commitment amount by an average of 80% New capital raised from blue-chip global institutions, alongside a significant rise in Asian investor participation 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 20301, 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. Our investment philosophy centers on forging deep partnerships with India's healthcare visionaries as the 'partner of choice', providing strategic guidance and operational support to help them scale their businesses and achieve market leadership,' said Dr Amit Varma, Co-Founder and Managing Partner, Quadria Capital. India As A Core Market for Healthcare Innovation and Investment Quadria Capital's investment thesis is especially relevant in India, where healthcare transformation is both a national imperative and a private capital opportunity. India is emerging as a strategic manufacturing hub as global pharmaceutical and MedTech supply chains shift towards the country Per capita healthcare spend in India stands at just $74, significantly below regional peers like Thailand ($364) and Malaysia ($487), with nearly 50% of all healthcare costs paid out-of-pocket The new fundraise can fuel Indian healthcare innovation by strategically deploying capital in high-growth sectors like specialised care and pharma manufacturing, with a focus on building scalable, affordable solutions for over a billion people. 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. For more information, please visit 1https:// View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same.
Mint
6 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 Times
6 days ago
- Business
- Business Times
Singapore-based Quadria's 3rd healthcare fund closes at US$1.1 billion, above US$800 million target
[SINGAPORE] Quadria Capital, a Singapore-based private equity (PE) firm, announced on Tuesday (May 27) the final close of its third healthcare fund at nearly US$1.1 billion. That is above the original target of US$800 million, said the healthcare-focused company, which manages more than US$4 billion across 27 investments in South and South-east Asia. Its investors – which include North American and European sovereign wealth funds and asset managers – may also commit another US$300 million during the investment phase of the third fund. This could bring the total committed capital to around US$1.3 billion when Quadria fully deploys the fund. The oversubscription comes even as PE firms continue to face challenges in raising capital, Quadria's co-founder and managing partner Abrar Mir told The Business Times. 'This has been one of the most difficult, complex fundraising environments that we've ever witnessed... even worse than the dotcom crisis and the global financial crisis of 2008-09.' According to a McKinsey report, PE fundraising in Asia-Pacific plunged almost 77 per cent to US$61 billion in 2024, from US$263 billion in 2021. That was driven mainly by American institutional investors – the world's largest PE investors – who pulled back from China amid growing bilateral tensions. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Draw of a US$5 trillion market Still, institutional investors outside the US find Asia's US$5 trillion healthcare market appealing, Mir said. 'We're increasingly seeing institutional investors in Asia, who understand the opportunities of Asia becoming much more prominent going forward,' he added. Apart from drawing capital from several Asian sovereign investors, Quadria's fund also secured new commitments from Indian investors, spanning banks, insurers and family offices, he added. Middle-Eastern institutions, including those from Saudi Arabia, the United Arab Emirates and Bahrain, invested into Quadria's fund for the first time as well. Boston Consulting Group forecasts that Asian healthcare is expected to drive 40 per cent of global healthcare growth by 2030. Often viewed as a defensive sector that can withstand the ups and downs of economic cycles, healthcare has been steadily drawing more private investments. According to a Bain report, global PE deal activity in the sector surged last year, to an estimated US$115 billion – the second-highest annual deal value on record. Bain added that PE firms continue to invest in healthcare in the Asia-Pacific, where deal values have been steadily rising since 2016. About 40 per cent of Quadria's fund has already been deployed, including in India's eyecare chain Maxivision and Asia's largest dialysis chain NephroPlus. Quadria expects to seal two new investments in South-east Asia soon. The company invests in two types of businesses – the first are those that either manufacture or provide a healthcare service to domestic markets, such as hospitals. The second is in businesses that produce healthcare products in Asia, and sell globally. Mir said that Quadria is also assessing deals in Asia and in the Gulf Cooperation Council region.
