Wed, 12 Aug 2020

New Delhi [India], July 13 (ANI): Healthcare venture capital fund HealthQuad on Monday announced the first close of its second fund with a commitment of Rs 514 crore, helping it achieve 93 per cent of the target fund size of Rs 550 crore.

Considering the success and overwhelming demand, the fund will exercise its green-shoe option, the company said.

HealthQuad said the fund raise entrusts strong and positive belief in disruptive healthcare business models that will address the imminent and long-term needs of the Indian healthcare sector.

The fund has been supported by some of the leading global investors including Ackermansvan Haaren (AvH), Teachers Insurance and Annuity Association of America (TIAA), Indian DFI SIDBI, Swedfund and pharma giant MerckCo Inc.

"We believe that the recent COVID-19 pandemic has given an impetus to the digital transformation of healthcare," said Charles Antoine Janssen, co-founder and Chief Investment Officer of HealthQuad.

"HealthQuad is committed to creating an ecosystem of such category-defining companies that improve accessibility and affordability and elevate the overall healthcare standards in India. We are pleased to be supported by like-minded global investors to deliver transformative impact beyond superior financial returns," he said in a statement.

HealthQuad acts as a strategic partner to its portfolio companies by providing access to its wide healthcare ecosystem to support long-term growth and value creation. The fund intends to help companies grow into regional leaders through an active and collaborative investment strategy.

(ANI)

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