Healthcare investor Quadria Group has announced the launch of its HealthQuad Fund III, with plans to raise up to $300 million. This includes a base corpus of $200 million and an additional $100 million available through a greenshoe option. The new fund builds on the success of HealthQuad Funds I and II, which have supported more than 18 healthcare ventures across India.
Launched in 2016, HealthQuad was created by Quadria Group as a distinct early-growth investment platform focused on disruptive, tech-enabled healthcare models. Unlike Quadria’s flagship fund, HealthQuad specializes in identifying innovative companies that expand healthcare access, affordability, and quality in underserved segments of India’s healthcare market. With $300 million in assets under management, HealthQuad has already backed category leaders such as Qure.ai, Medikabazaar, THB, Wysa, Ekincare, Redcliffe Labs, GoApptiv, and Strand Life Sciences.
The launch of Fund III aligns with Quadria Group’s broader ambition to build India’s most integrated healthcare investment platform, providing capital solutions across the entire healthcare value chain—from early-stage innovation to large-scale growth. "India remains one of the most compelling healthcare investment markets globally," said Amit Varma, Co-founder and Investment Committee member at HealthQuad. "Rising demand, rapid digital adoption, and gaps in primary, diagnostic, and chronic care create unmatched opportunities. We are uniquely positioned to deliver value not only in India but across South Asia, Southeast Asia, and the GCC region.”
Fund III also marks a structural change in Quadria Group’s ownership, with Amit Varma, Abrar Mir, and Sunil Thakur assuming full ownership and control following the firm’s separation from KOIS. Quadria plans to leverage its pan-Asian network, deep institutional investor relationships, and operational expertise to drive scale and impact for its portfolio companies.
The group has attracted strong interest from both global and domestic institutional investors for its integrated investment approach. This follows the recent successful closing of Quadria Capital Fund III at $1.07 billion, backed by leading global institutions. Overall, Quadria Capital now manages over $4 billion in assets, with 27 active investments across India, Vietnam, Indonesia, Malaysia, Singapore, and other Asian markets.
With HealthQuad Fund III, Quadria Group aims to solidify its position as Asia’s premier healthcare investor, continuing to fuel healthcare innovation and expansion across the region.