HealthQuad, a venture capital firm focused on investments in healthcare startups, has announced the closure of its maiden fund at ₹75 crores. For the fund, about 85% of the corpus has been raised from family offices in Europe and India, while the remainder has been funded by the founders of Quadria Capital.
The venture capital firm is planning to invest in around 8 to 10 companies with ticket sizes ranging between $1 million and $3 million. But, the fund has the go-ahead from its limited partners for deal sizes of up to $10 million.
Amit Varma, one of the sponsors to HealthQuad and managing partner at Quadria Capital, said
We have access to Rs.150-200 crore from our limited partners apart from the fund’s Rs.75 crore. So the idea is to enable investments worth Rs.400 crore along with co-investors and partner funds.
He further adds that in the coming three months, they will deploy almost 75 percent of the corpus.
The fund is currently looking for companies in areas of single specialty, telemedicine, healthcare delivery services, life sciences, medical devices & technology, healthcare IT, and associated healthcare services to invest in.
HealthQuad has already invested in healthcare staffing firm Hi Impact Consultants, single specialty hospital AINU, telemedicine provider Neurosynaptic and corporate hospital group Regency Healthcare.
The fund has already deployed about 40 percent of the corpus so far and is currently in advanced talks to sign term sheets with 2 more companies.
HealthQuad was founded in January 2016 and has been registered with SEBI as a Category I Alternative Investment Fund. This fund’s investment strategy will be focused on key healthcare subsectors such as healthcare delivery services, life sciences, devices and medical technology and healthcare technology.