Quadria Capital, a top healthcare-focused investment firm based in Singapore, announced on Monday that it has closed its third fund with $1.07 billion in total investment. This is much more than its original target of $800 million.
The company said in a statement that it raised more money than expected. This includes over $954 million in main investments and another $114 million that investors have promised to put in alongside specific deals.
The firm also expects to raise another $300 million for co-investments during the investment period. This would bring the total money available to about $1.3 billion once everything is fully invested.
This new fund is about 60% bigger than the firm’s last fund of $600 million raised in 2020. It makes Quadria the biggest healthcare-focused private equity fund in South and Southeast Asia.
“Fund III close, amid one of the most demanding fundraising climates in recent memory, is a powerful validation of our strategy and our mission,
“It reflects deep global investor conviction in the transformational opportunity in Asian Healthcare, where social impact and financial performance go hand in hand,” said Abrar Mir, Co-Founder and Managing Partner of Quadria Capital.
Quadria said that even when many investors around the world are careful about investing, it still attracts top global investors. This shows people believe in Quadria’s investment plan and see great chances in the Asian healthcare market.
The firm’s biggest current investors include well-known government investment funds from North America and Europe, asset management companies, and important corporate partners.
The fund also received strong support from important organizations in the Gulf Cooperation Council (GCC), which includes Saudi Arabia, the United Arab Emirates (UAE), and Bahrain.
The fund also got strong support from impact investors who care about making a positive difference. This shows Quadria’s ongoing commitment to growing healthcare businesses that provide lifesaving care to people in Asia who need it most.
According to the statement, Indonesia is expected to become the world’s 7th biggest economy by 2030. Its healthcare spending is growing fast every year because more people want healthcare, incomes are going up, and both the government and private companies are investing a lot.
As Indonesia moves from just basic healthcare to better quality and new ideas, Quadria is showing more commitment by opening a new office in Jakarta. This shows Indonesia is very important to the firm. They also hired an experienced leader, Raymond Rudianto, who joined in June as Managing Director and Head of Indonesia, to lead their work there.
“We are excited to welcome Raymond to the firm to establish our on the ground presence – Indonesia has been and very much continues to be a strategic priority for Quadria,” said Ewan Davis, Partner, Quadria Capital.
Quadria’s investments include Hermina Hospital, the biggest hospital group in Indonesia that works with BPJS (the government health insurance). They have 51 hospitals and care for almost 10 million patients every year.
As the top provider of affordable healthcare in Indonesia, Hermina is very important in providing many people with good and low-cost medical care.
“Our investment in Hermina underscores our belief that the power of scale and operational excellence can deliver affordable and quality healthcare outcomes across Indonesia,” added Ewan Davis.
Founded in 2012, Quadria Capital is a leading healthcare investor in Asia. It manages more than $4 billion and has invested in 27 companies across South and Southeast Asia, including India, Vietnam, Indonesia, Malaysia, and Singapore.
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