Healthcare investor Quadria Group has announced the launch of HealthQuad Fund III, with a proposed raise of up to $300 million, including a target corpus of $200 million with a $100 million greenshoe option.

As a successor to Funds I and II, the third fund seeks to build on a track record of identifying and scaling pioneering healthcare ventures that have expanded access, affordability, and quality of care across India.

"The launch is part of Quadria’s long-term vision to build India’s most integrated healthcare investment platform, offering capital solutions from early-stage innovation to scaled growth across the healthcare value chain," a statement says. HealthQuad currently has assets under management worth $300 million.

Incubated in 2016, HealthQuad is an initiative by the Quadria Group to create a distinct investment vehicle, separate from its flagship fund, focused on backing disruptive, tech-enabled healthcare models at the early-growth stage.

Funds I and II backed over 18 companies, including Qure.ai, Medikabazaar, THB, Wysa, Ekincare, Redcliffe Labs, GoApptiv, and Strand Life Sciences, many of which have gone on to become category leaders.

With Fund III, the Quadria Group aims to build India’s largest and most influential healthcare investment franchise. The statement says Amit Varma, Abrar Mir, and Sunil Thakur will assume full ownership and control of the Quadria Group platform following its separation from KOIS. 

According to Varma, Co-founder and Investment Committee member, HealthQuad, India presents one of the world’s most compelling healthcare investment opportunities, driven by growing demand, digital acceleration, and underserved segments across primary, diagnostic, and chronic care. "We are better positioned than ever to deliver cross-regional value for our portfolio companies, across South Asia, Southeast Asia, and the GCC, creating an unparalleled platform for health innovation.”

Quadria Group intends to leverage its access to a large institutional investor pool across global and domestic investors, who have shown interest in investing in an integrated platform.

Through this new fund, Quadria Group intends to combine its pan-Asian network, institutional investor base, and operational expertise to deliver scaled impact and value. The group recently closed Quadria Capital Fund III at $1.07 billion, with strong backing from leading global institutions.

Quadria Capital is Asia’s premier healthcare investor, managing over $4 billion in assets across 27 investments in South and Southeast Asia, including India, Vietnam, Indonesia, Malaysia, and Singapore.