HealthQuad, a healthcare venture capital fund, has marked the final close its second fund at $162 million. As per the firm, this is more than twice than its target size at launch.

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Global biopharmaceutical MSD led the commitments from a pool of global financial investors, strategic institutions in pharma and healthcare, development financial institutions (DFI), funds of funds and large European conglomerates.

“Our investment in HealthQuad will contribute to a robust and sustainable healthcare ecosystem through innovative solutions in financial inclusion, patient engagement, and supply chain, in India and around the world,” said Carmen Villar, VP Social Business Innovation at MSD.

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The firm, which counts Medikabazaar, Ekincare, Healthifyme and Qure.ai in its portfolio of invested companies, from its HealthQuad Fund-II will be investing in 10 to 15 young private companies across high-growth segments of the healthcare sector in India. The fund has already deployed $60 million across companies till date.

“The close of our second fund marks a significant step for HealthQuad as we continue to invest in one of the world’s most promising healthcare markets. India’s healthcare industry is compounding at ~20% growth rate and is likely to be a $372 billion industry by end of this year. The new-age innovative models are fuelling the rise of the Indian health-tech market which is growing at 25% annually and is poised to reach $21 billion by 2025,” said Charles-Antoine Janssen, Co-founder and Chief Investment Officer of HealthQuad.

“We have been investing in the healthcare market in India since 2016 and are grateful for the meaningful partnerships we are building with world class, path breaking entrepreneurs who emerge from India’s growing pool of 8,000+ health tech companies,” Janssen added.

(Edited by : Priyanka Deshpande)

First Published:Mar 31, 2022 7:55 PM IST