HealthQuad to Raise $300 Million Third Fund

The new fund comes when there is a split in the GPs that manage the firm

- Sneha Shah & Ranjani Raghavan

HealthQuad, the early-to-growth stage healthcare-focused investor backed by private equity firm Quadria Capital, is looking to raise its third fund of around $300 million. This new fund comes at a time when there is a split in the general partners (GPs) that manage HealthQuad, people with knowledge of the development said.

"The firm has refiled its papers with the markets regulator to raise the third fund. The refile shows only Sunil Thakur, Amit Varma, and Abrar Mir, the founders of Quadria as the GPs of the firm," one of the persons cited above said.

In 2015, when HealthQuad was set up to invest in early-stage healthcare opportunities in India, the three partners had roped in Charles-Antoine Janssen as the fourth founder and appointed him as chief investment officer.