Quadria closes $1.07 bn healthcare fund, seeks growth in India and S Asia

Singapore-based company says it has largest dedicated healthcare PE fund for South and Southeast 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.