Quadria Group launches HealthQuad fund III with a corpus of $300 Mn

Quadria Group, a healthcare-focused private equity firm, has launched HealthQuad Fund III, aiming to raise up to $300 million (with a target of $200 million and a $100 million greenshoe option). 

As a follow-up to Funds I and II, this fund will continue backing innovative healthcare ventures that improve access, affordability, and quality of care in India. The move supports Quadria’s broader goal of building a fully integrated healthcare investment platform, funding companies from early innovation to large-scale growth.

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Launched in 2016, HealthQuad was created as a dedicated investment platform to support early-growth, tech-driven healthcare startups. Through Funds I and II, it invested in over 18 companies, including Qure.ai, Medikabazaar, THB, Wysa, Ekincare, Redcliffe Labs, GoApptiv and Strand Life Sciences.

With Fund III, Quadria is moving toward building a larger healthcare investment franchise. Following its separation from KOIS, Dr Amit Varma, Abrar Mir, and Sunil Thakur will take full ownership and control of the platform. Most of the current investment and committee team will continue overseeing the existing portfolio.

Dr. Amit Varma, Co-founder and Investment Committee member, HealthQuad, said, “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. With the full ownership of Fund III and expanded leadership, 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.”

About Quadria Capital

Founded in 2012, Quadria Capital manages over $4 billion in assets across 27 healthcare investments in South and Southeast Asia, including India, Vietnam, Indonesia, Malaysia, and Singapore. The firm focuses on creating sustainable value by backing high-impact healthcare businesses while delivering strong returns to its investors.

Quadria plans to tap into its network of global and domestic institutional investors to support HealthQuad Fund III and drive large-scale impact. Recently, the firm closed Quadria Capital Fund III at $1.07 billion, with backing from top global institutions.

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