India: VC firm HealthQuad makes first close at $68.5m for second fund

Source: Olga Kononenko/Unsplash

HealthQuad, a healthcare venture capital fund, on Monday said it has raised 514 crore for the first close of its second fund.

With the first close, the fund has raised 93% of its target corpus of 550 crore for the second fund.

The second fund has raised commitments from global investors, including Ackermans & van Haaren (AvH), Teachers Insurance and Annuity Association of America (TIAA), SIDBI, Swedfund and pharma giant Merck & Co. Inc, according to a statement issued by HealthQuad.

The platform is backed by KOIS, which is focused on impact investing and innovative finance and the sponsors of Quadria Capital, an Asia-focused healthcare private equity fund.

“We believe that the recent covid-19 pandemic has given an impetus to the digital transformation of healthcare. 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,” said Charles-Antoine Janssen, co-founder and chief investment officer of HealthQuad.

“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 healthcare industry needs to move beyond linear growth such as adding new hospitals and adding a fixed number of physicians every year, and instead look for ways to disrupt the existing operating models,” said Amit Varma, co-founder HealthQuad.

The covid-19 pandemic has stressed the need to leverage technology to cater to the healthcare needs of such a large population, he added.

This article was first published on livemint.com.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.