Singapore-based private equity company Quadria Capital has closed its Fund III fundraising round, which aimed to raise capital to “transform” healthcare across Asia.
The fundraising round has secured a total of $1.07bn in commitments and surpassed its original goal of $800m.
It is 60% larger than the company’s previous fund, which was held in 2020 and raised $600m.
The oversubscribed Fund III includes more than $954m in primary commitments and $114m in committed co-investment capital.
The total capital pledged is forecast to approach approximately $1.3bn once fully allocated, anticipating a further $300m in co-investment potential during the investment period.
Quadria Capital co-founder and managing partner Abrar Mir said: “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.
“It reflects deep global investor conviction in the transformational opportunity in Asian Healthcare, where social impact and financial performance go hand in hand.”
Quadria Capital has received support from its largest existing backers, which include North American and European sovereign wealth funds, strategic corporates and asset managers.
The fund has additionally received pledges from institutional backers and support from the Gulf Cooperation Council (GCC) nations, including Saudi Arabia, the United Arab Emirates and Bahrain.
Indian investors, including banks, insurance companies and family offices, have also shown interest and contributed capital.
Quadria Capital said the fundraising round positions it for structural growth in Vietnam, where the healthcare market is currently worth $25bn.
The company claims its investment in FV Hospital, one of the country’s largest healthcare providers, has led to “major clinical improvements and substantial enhancements in patient outcomes”.
Last year, Quadria Capital was in advanced discussions to acquire a minority stake in NephroPlus, an India-based dialysis chain, for around Rs20bn ($250m).
“Quadria Capital closes Fund III fundraising round to advance healthcare at $1.07bn” was originally created and published by Hospital Management, a GlobalData owned brand.
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