New Delhi, May 27 -- Quadria Capital, a healthcare-focused private equity firm, has made the final close of its third fund with $1.07 billion (around Rs 9,127 crore) in total commitments, significantly exceeding its $800-million target.
The oversubscribed fundraise comprises over $954 million in primary commitments and $114 million in co-investment commitments. 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, Quadria said in a statement Tuesday.
The third fund is around 60% larger than the firm's previous $600-million fund raised in 2020, making Quadria the largest dedicated healthcare private equity firm operating only 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."
Quadria said that it attracted top-tier global investors, including North American and European sovereign wealth funds, asset managers, and corporate houses as limited partners. It also received strong backing from leading institutions across the Middle East, including Saudi Arabia, the UAE, and Bahrain.
The fundraising attracted interest from India, too, with commitments from major banks, insurance companies, and family offices. Additionally, the fund received robust re-up commitments from impact investors.
"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," said Dr Amit Varma, co-founder and managing partner, Quadria.
"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," Varma added.
Quadria's 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 LPs.
Quadria has already deployed nearly 40% of the corpus, including closed and signed investments such as 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). It will soon be making two new investments in Southeast Asia.
Published by HT Digital Content Services with permission from VC Circle.