HealthQuad raises Rs 514 crore for second fund

New Delhi: Healthcare venture capital fund HealthQuad on Monday announced the first close of its second fund with a commitment of ₹514 crore, helping it achieve 93 percent of the target fund size of ₹550 crore.

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

HealthQuad said the fundraise 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 Ackermans & van Haaren (AvH), Teachers Insurance and Annuity Association of America (TIAA), Indian DFI SIDBI, Swedfund, and pharma giant Merck & Co 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.

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