The healthcare venture capital fund, HealthQuad has raised $150 million (approximately Rs 1,134.5 crore) in its second funding round. In this 20% of the capital is raised by Indian LPs. The rest 80% has come from overseas. This capital has come from some of the largest DFIs and pension funds, European strategic investors and HNIs.
A statement issued by them says, “In view of the overwhelming demand, the fund will exercise its green-shoe option. The fund intends to proceed to a final close by March 2022." HealthQuad is backed by Quadria Capital and KOIS. It had initially received Rs 75 crore funds in 2017. This they planned to invest in 8 to 10 companies with investment ranging from Rs 1 to 15 crores.
HealthQuad has invested in successful health-tech companies like Medikabazaar, THB, HealthifyMe and Impactguru. Current funds will be invested in 12 to 14 startups with cheque size of around $5-20 million.
India is evolving to become the fastest receiver of health-tech investments. It is currently growing at 27% CAGR and will reach $21.3 billion. Despite being only 3.2% of the global healthcare market.