Copyright © HT Digital Streams Limit all rights reserved. Amit Varma, co-founder and managing partner of Quadria Capital. Summary For the first time, it raised about 10% of the Fund of Indian investors, AMIT VARMA, co-founder and managing partner of Quadria Capital. Mumbai: Quadria Capital, a private equity firm focused on healthcare in Asia, closed its third fund with a total $ 1.07 billion commitment, exceeding its original $ 800 million target, the firm said. For the first time, it raised about 10% of the Fund of Indian investors, including family offices, insurance companies and corporations, Amit Varma, co-founder and managing partner of Quadria Capital, told Mint in an interview. Read also | Quadria to invest half of its Indian capital in climate-related health care solutions, Quadria Capital’s largest existing supporters, includes prominent North American and European sovereign wealth funds, asset managers and strategic enterprises. The fund also obtained new obligations of institutions across the Gulf Cooperation Board (GCC), including Saudi Arabia, the UAE and Bahrain. The over-limited fundraiser consists of more than $ 954 million to primary obligations and $ 114 million to dedicated co-investment capital. The firm said an additional $ 300 million is expected to co-investment capacity over the course of the investment phase, bringing total dedicated capital to full deployment to about $ 1.3 billion. Read also | Quadria Cap-supported Maxivision plans to expand, Eyes IPO by 2027 “About 60% of the fund is likely to flow to India,” Varma told Mint, adding that nearly 48% of the fund had already been deployed. “We will probably fully deploy this Fund III by 2027.” The latest fundraising effort is about 60% greater than the firm’s previous fundraising effort of $ 600 million in 2020. Through this new fund in India, the firm of enterprises such as NephroPlus and Maxivision Eye hospitals, Medibuddy and Encube Ethicals supported. It has also been successful from companies such as Akums medicine and pharmaceuticals, Concord Biotech, Healthcare at Home and AIG. Read also | Quadria Capital to complete the return fund 1 by the end of the year, and he talked about the performance in the second fund, Varma said the fund, which started investing in 2021, is more than 2x the main capital. It has been reported that a DPI (distributed payment, which is a measure of capital already returned to limited partners or LPS) at 1.1x. “By 2027 we must be completely left out with a DPI of almost 1.1x,” Varma said. Varma said the firm would write larger checks in about ten leading businesses through Fund III, with a significant minority and majority interest. “We look at opportunities in Med Tech and Diagnostics, because of who we are in our success in hospitals. I think the other area where we start seeing smaller ticket sizes are digital health opportunities, where people look at the end (near the client), care, testing. And last, adjustments, especially in planetary health and services,” he said. Planetary health refers to the changing disease profiles due to climate change. Founded in 2012, Quadria Capital manages more than $ 4 billion to assets in 27 investments in South and Southeast Asia, including India, Vietnam, Indonesia, Malaysia and Singapore. The Target Corpus of the first fund of Quadria Capital was $ 300 million, although it eventually invested $ 450 million, including co-investments of its MPS. It raised $ 600 million for its second fund in 2016 and eventually deployed $ 750 million, including co-investments with limited partner. Varma said that 40% of the new fund will go to other Asian countries and the GCC, adding that the India-GCC gait is becoming increasingly important. Catch all the corporate news and updates on live currency. Download the Mint News app to get daily market updates and live business news. More Topics #News #Healthcare #Medicare #Health Care Read next story
Healthcare investor Quadria earns $ 1.1 billion for Fund III, exceeds Target
