The Asian Development Bank revealed a $25 million equity investment in a Private Equity Firm (PE) called Quadria Capital Fund III LP in a bid to support better quality, accessible and affordable healthcare in Southeast Asia and South Asia.
The PE firm will largely invest in established firms operating in industries including health care services, pharmaceuticals and life sciences, medical devices and consumables, health technology, as well as consumer health care distribution and retail segment.
Quadria Capital was founded in 2012, and counts Abrar Mir and Amit Varma as its founders. It is an independent healthcare focused private equity firm that specializes in growth capital investments in small cap and middle-market companies within the healthcare sector across South and Southeast Asia.
“Through its investment, ADB will help Quadria III implement a gender impact tool to identify health care investments that address gender inequalities, promote women as a source of innovation, and support women’s empowerment,” said ADB Private Sector Investment Funds and Special Initiatives Division director, Janette Hall.
This will be ADB’s first investment in a healthcare fund managed by Quadria Capital.
“We are quite focused on companies engaged in preventive healthcare, wellness, health financing, and diagnostics. These are the big themes we play. For us it is either the big consumption driven models or where we see supply side strength, Quadria Capital’s managing partner Sunil Thakur said in an earlier interaction.