Quadria Capital Closes Oversubscribed USD 1 Bn Fund III to Power Asia's Healthcare Future Quadria's Fund III, 40% deployed, backs Aragen, NephroPlus, and Maxivision, aiming to build a 10-company portfolio delivering scalable, accessible healthcare across Asia through strategic majority and minority investments.
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In a landmark move underscoring global confidence in Asia's healthcare potential, Quadria Capital, a leading healthcare-focused private equity firm, has announced the final close of Fund III with total commitments of USD 1.07 billion, far exceeding its original target of USD 800 million. This marks one of the largest dedicated healthcare PE funds in South and Southeast Asia.
The fund attracted over USD 954 million in primary commitments and USD 114 million in co-investment capital, with an additional USD 300 million expected during the investment phase. This brings potential deployable capital to approximately USD 1.3 billion, a substantial 60% increase from Quadria's previous fund in 2020.
"Fund III's close, amid one of the most demanding fundraising climates in recent memory, is a powerful validation of our strategy and our mission," said Abrar Mir, Co-founder and Managing Partner of Quadria Capital. "It reflects deep global investor conviction in the transformational opportunity in Asian healthcare, where social impact and financial performance go hand in hand."
Quadria's success comes at a time of tightening global capital, highlighting investor belief in its proven strategy and the booming potential of Asia's USD 5 trillion healthcare market. The fund saw strong backing from existing investors, who increased commitments by an average of 80%, and drew in new capital from blue-chip institutions across North America, Europe, the GCC, and Asia, including Indian banks, insurers, and family offices.
Dr Amit Varma, Co-founder and Managing Partner, emphasised India's strategic role:
"Asia's healthcare sector is at a pivotal moment. We are entering a golden decade of transformation. Our investment philosophy centers on forging deep partnerships with India's healthcare visionaries as the 'partner of choice'."
India remains core to Quadria's strategy, with low per capita healthcare spend (USD 74) and growing demand driving innovation and private sector growth. Fund III, already nearly 40% deployed, includes investments in Aragen Life Sciences, NephroPlus, and Maxivision, with more Southeast Asian deals on the horizon.
With Fund III, Quadria aims to build a portfolio of 10 high-impact healthcare companies, taking both majority and minority stakes to fuel scalable, accessible care across Asia.
