Healthquad, a healthcare-focused venture capital fund, has achieved the final close with a total commitment of about $12 million (Rs 75 crore) for investing in thematic and disruptive healthcare business models in India, it announced on Thursday.
The fund is looking to invest in 8-10 companies, Healthquad said in a statement. Prior to its final close, the fund had already invested in four companies including the recently announced investment in Regency Healthcare.
Healthquad is the first early stage investment vehicle by healthcare private equity investors Dr. Amit Varma, Abrar Mir and Charles Antione Janssen. It targets to invest around Rs 4 billion in healthcare companies that have the potential to disrupt the healthcare landscape, the statement added.
“Healthcare sector has seen emergence of over 500 startups in the last two years and venture capital firms have infused around INR 25billion. We are looking to deploy around INR 4 billion, along with co-investors and partner funds in healthcare models that are driven by new age disruptive technology and are changing the way healthcare is delivered and accessed in India,” Dr. Varma said.
Healthquad had raised Rs 65 crore under its first round of fund raising in June last year. The fund largely targets five key healthcare sub-sectors including healthcare delivery services, life-sciences, medical devices & technology, healthcare IT and associated healthcare services.
“Our deployments in healthcare across sub-sectors and geographies provide extensive synergies to help companies scale-up rapidly and that forms the basis of our compelling proposition to healthcare entrepreneurs in India,” Mir added.