Healthquad Closes Second Fund, Raising $162 M

HealthQuad, India’s healthcare venture capital fund, has closed its second fund, HealthQuad Fund-II, with a total subscription of $162 million (Rs 1,215 crore), more than 2.2 times than its target size at launch. 

MSD, the global biopharmaceutical company, led commitments from global financial investors, strategic institutions in pharma and healthcare, development financial institutions (DFI), funds of funds and large European conglomerates. The investor base includes Ackermans & van Haaren (AvH), Teachers Insurance and Annuity Association of America (TIAA), Quilvest, HCL Corporation, DFIs such as CDC, Swedfund and SIDBI and India’s banking services company.

HealthQuad is an Indian healthcare VC fund that invests in disruptive healthcare models, typically using technology to achieve reach, scale as well as impact. It is backed by Quadria Capital, a healthcare focussed private equity fund in Asia and KOIS. Quadria and KOIS provide an ecosystem of sector knowledge, network, brand, commercial synergies and market access. 

As per the firm, HealthQuad Fund-II is investing in 10-15 young private companies across high-growth segments of the healthcare sector in India, aiming to generate value as well as achieve deep social impact. 

“The close of our second fund marks a significant step for HealthQuad as we continue to invest in one of the world’s most promising healthcare markets. India’s healthcare industry is compounding at ~20 per cent growth rate and is likely to be a $372 billion industry by end of this year," said Carmen Villar, VP Social Business Innovation, MSD.