HealthQuad, an Indian healthcare venture capital fund, has announced the pre-final closure of its second fund with a total subscription of INR 1,134.5 Cr ($150 Mn), more than double the fund’s target size of INR 550 Cr ($75 Mn).
HealthQuad is a healthtech fund that invests solely in entrepreneurs that have technology-backed innovative healthcare models. The platform is supported by Quadria Capital, an Asian healthcare-focused private equity firm, and KOIS, an impact investment fund, which will also assist companies with industry knowledge, networks, and market access.
So far, the fund has invested in Medikabazaar, a digital platform for medical goods and consumables, THB, a clinical data aggregation and analytics platform, HealthifyMe, a digital wellness firm, and Impactguru, a healthcare finance platform.
“In a resource constrained country like India, universal healthcare access can only be achieved through the adoption of disruptive solutions. The healthcare industry needs to move beyond linear growth models and instead look at ways to disrupt the existing operating models,” said Amit Varma, cofounder of HealthQuad.
“Disruptive technological solutions have the potential to not only vault over some of the challenges, but also help reduce the requirement of doctors by one million and hospital beds by another million, thus saving more than USD 90 billion of capital investments” said Varma.
Meanwhile, the Indian healthtech market is expected to reach $21.3 billion by 2025, rising at a CAGR of 27 percent and accounting for 3.2 percent of the global healthtech market.