Singapore-based private equity firm Quadria Capital has announced the final close of its latest healthcare-focused fund, securing $1.07 billion in commitments. The firm revealed on Tuesday that it has exceeded its original $800 million target for Fund III.
The new fund comprises $954 million in primary commitments along with $114 million in co-investment capital. Quadria added that an additional $300 million in co-investments is expected to follow, potentially increasing the overall capital to around $1.3 billion.
This fund represents a significant jump from Quadria’s $600 million Fund II, closed in 2020. With this raise, Fund III becomes the largest dedicated healthcare private equity fund for the South and Southeast Asia region.
“Asia’s healthcare sector is at a pivotal moment, and it will remain in the limelight in 2025, especially with investment interest in India in areas like single speciality hospitals, diagnostic chains, medical devices, and pharmaceutical manufacturing, which includes APIs and CDMOs. This sector will see growth because of higher healthcare consumption, cost-efficiency initiatives, and deepening technology integration. We are entering a golden decade of healthcare transformation ” said Dr. Amit Varma, cofounder and managing partner at Quadria Capital.
Existing investors in the firm have significantly increased their contributions, with an average commitment hike of 80 per cent. The fund also drew interest from a wide range of institutional investors globally, including sovereign wealth funds, insurers, and family offices from regions such as North America, Europe, the Middle East, and Asia- particularly West Asia and India.
Nearly 40 per cent of Fund III has already been invested, with current holdings including Aragen Life Sciences, NephroPlus, and Maxivision. Two more deals in Southeast Asia are expected to close shortly.
Founded in 2012, Quadria Capital manages more than $4 billion in assets across 27 portfolio companies. With Fund III, the firm aims to invest in around 10 leading healthcare businesses through a combination of majority and minority stakes, as well as co-investments.
