Quadria raises $1.1 billion Fund III, crosses goal

For the first time, Quadria Capital raised 10% of the fund from Indians

- Sneha Shah & Ranjani Raghavan

Quadria Capital, a private equity firm focused on healthcare in Asia, has closed its third fund with $1.07 billion in total commitments, exceeding its original $800 million target, the firm said.

For the first time, it has raised around 10% of the fund from Indian investors, including family offices, insurance companies, and corporates, Amit Varma, co-founder and managing partner of Quadria Capital, told Mint in an interview.

Quadria Capital's largest existing backers include prominent North American and European sovereign wealth funds, asset managers and strategic corporates. The fund also secured new commitments from institutions across the Gulf Cooperation Council (GCC), including Saudi Arabia, the UAE, and Bahrain, it said.