India-focused healthcare VC fund HealthQuad on Thursday announced the final close of its second fund raising $162 million (₹1,215 crore) led by global biopharmaceutical company MSD. The total subscription of the fund was nearly 2.2x greater than its target size at launch.
Other global financial investors, strategic institutions in pharma and healthcare, development financial institutions (DFI), funds of funds and large European conglomerates also invested in the round. The diverse 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 leading banking services company.
HealthQuad Fund-II will be investing in 10-15 private companies across high-growth segments of the healthcare sector in India, aiming to generate value as well as achieve deep social impact.
Health equity
HealthQuad invests in disruptive healthcare models, typically using technology to achieve reach, scale as well as impact. It is backed by Quadria Capital, a leading healthcare focused private equity fund in Asia, and KOIS, a global pioneer in impact investing and innovative finance.
Charles-Antoine Janssen, Co-founder and Chief Investment Officer of HealthQuad, said, “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. The new-age innovative models are fuelling the rise of the Indian health-tech market which is growing at 25 per cent annually and is poised to reach $21 billion by 2025.”
“We are energised by the vision our Global Investors (LPs) share with us of a flourishing and evolving Indian healthcare ecosystem that answers the needs of the people across all income segments while generating attractive financial returns. We have been investing in the healthcare market in India since 2016 and are grateful for the meaningful partnerships we are building with world class, path breaking entrepreneurs who emerge from India’s growing pool of 8,000+ health tech companies,” he added.
Carmen Villar, VP Social Business Innovation at MSD, said: “At MSD we are committed to advancing health equity globally through our impact investing portfolio. Our investment in HealthQuad will contribute to a robust and sustainable healthcare ecosystem through innovative solutions in financial inclusion, patient engagement, and supply chain, in India and around the world”
Over $60 million of HealthQuad Fund-II has already been deployed in high growth and disruptive companies in each of the sub segments of the healthtech ecosystem. These investments include Medikabazaar, THB, Stanplus, Ekincare, Impactguru, Qure.ai and HealthifyMe.
Published on
March 31, 2022
