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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.
Time of India
15-05-2025
- Time of India
Buses go off roads after cop thrashes conductor
Kolkata: In an instance of alleged police excess , a traffic sergeant was accused of assaulting a bus conductor. Videos of the incident were released on multiple social media platforms. The Joint Council of Bus Syndicate, along with bus owners and workers of the Tangra-Howrah minibus route — one of whose conductors was allegedly assaulted — held a protest meeting on Wednesday, demanding quick action. Sealdah Traffic Guard OC Rajat Kishan attended the meeting and accepted such skirmishes should be avoided. The bus unions, though, said they are seeking a meeting with the DCP in this several minibuses on the route stopped services in protest since Tuesday, partial normalcy returned to the route on Wednesday, with 22 of the 40 buses plying. The Sealdah Traffic Guard, whose officer was allegedly involved, said an investigation was initiated. "While it is clear that there was a confrontation between the sergeant and the conductor, the allegations of assault are still not clear from the footage we have analysed so far," said an incident was reported around 10.20 am on Tuesday when the minibus was headed to Howrah from Tangra. Opposite the Sealdah departmental store, the bus slowed down to pick up passengers. The police claimed this blocked traffic coming out of Sealdah station complex, as well as those coming from Beliaghata. This reportedly infuriated the sergeant on duty, who summoned the conductor. Though the video released is inconclusive, the conductor is seen nursing a swollen knee at the end of the encounter."The conductor, Sunil Thakur, has been attached to this route for the past 16 years. He was merely doing his job. If indeed traffic laws were broken, the sergeant could have detained the bus and prosecuted the driver. What was the need to assault our conductor? When we took the conductor to the doctor, the sergeant, Sovanlal Mukherjee, refused to apologise and said he was within his limits to do whatever he did," claimed Sandip Sengupta, the Tangra minibus route incident led to a wave of protest with bus enthusiast groups, besides the bus union groups, sharing the footage. "We have held talks and decided to lodge a complaint with both Entally police station and the Sealdah traffic guard. We want a time-bound action," said Tapan Banerjee of the Joint Council of Bus month, Lalbazar had "closed" a cop from Bansdroni Police for allegedly slapping an app-bike driver who showed his bike documents on Digilocker instead of the hard copies. The Kolkata Police headquarters also launched another investigation aimed at ascertaining the role of two constables, now posted at Patuli Police Station, for allegedly misbehaving with a social media content creator who challenged one of the cops for not wearing a helmet.
