HealthQuad to raise its fund pool to Rs 900 crore
HealthQuad, a home-grown healthcare venture fund is likely to approach Sebi to increase the green-shoe option of its second fund by Rs 200 crore. The company has announced the closure of its second fund with a commitment of Rs 514 crores, achieving 93per cent of the target fund size of Rs 550 crores. "We will exercise the green-show option and are also planning to approach the Indian regulator for increasing it (green-shoe) to Rs 900 crore due to overwhelming response," said Charles Antonio Janssen c0-founder & CIO HealthQuad. "We are looking at closing the fund by December end, much before the one-year window from first closure that will end in June 2021," he added.
HealthQuad had raised Rs 75 crore in 2016 under its first fund and invested Rs 250 crore along with its investors in the seven Indian companies like Medika Bazar, Regency Hospital and others. KOIS and Quadria Capital are the sponsor of the firm. KOIS is one of the global pioneers in impact investing and innovative finance and founders of Quadria Capital that is one of Asia’s leading healthcare focused private equity fund.
The fund has been supported by some of the leading global investors including Ackermans & van Haaren (AvH), Teachers Insurance and Annuity Association of America (TIAA), Indian development financial institution –SIDBI, Swedfund and pharma giant Merck & Co. Janssen said that, "HealthQuad is committed towards creating an ecosystem of such category defining companies that improve accessibility and affordability and elevate the overall healthcare standards in India. We are pleased to be supported by like-minded global investors to deliver transformative impact beyond superior financial returns."
Through the second fund, HealthQuad seeks to invest in disruptive, technology based and innovation driven businesses which transform healthcare in India, generate value and also create deep social impact. "If India has to fulfil its mission of 'Healthcare for All', it must focus on leveraging technology and digital health along with focus on promotion of wellness and preventive health. The current pandemic has further stressed the need to leverage technology to cater to the healthcare needs of such a large population. Disruptive technological solutions have the potential to take vault over some of these issues and push India towards a more robust and reliable healthcare system in the foreseeable future.” said Dr. Amit Varma, Co-founder of HealthQuad.