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HealthQuad announces first close of Fund III with Rs 550 Cr commitments

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HealthQuad announces first close of Fund III with Rs 550 Cr commitments

Quadria Group-backed HealthQuad has announced the first close of its third fund, HealthQuad Fund III, securing commitments of Rs 550 crore, or more than one-third of its target corpus of Rs 1,700 crore.

The commitments came from existing limited partners (LPs) in its previous funds as well as new LPs, including local and global fund of funds, institutions, and family offices. The fund has also made its first investment in Lifesigns, an AI-powered remote patient monitoring platform, and is evaluating additional investment opportunities.

Fund III, the successor to HealthQuad Fund I and Fund II, is managed by HealthQuad Advisors, a wholly owned subsidiary of Quadria Group, through Amit Varma, Abrar Mir, and Sunil Thakur.

Following its separation from KOIS in 2025, Quadria Group retained a majority of the team managing Funds I and II and expanded its leadership team with the addition of Rahul Agarwal and Namit Chugh.

Founded in 2016, HealthQuad focuses on backing founders building technology-enabled healthcare businesses. Funds I and II have invested in more than 18 companies, including GoApptiv, Qure.ai, Redcliffe Labs, CureSkin, Strand Life Sciences, Medikabazaar, THB, Wysa, and ekincare.

Fund III will focus on early-growth-stage companies across healthtech, medtech, biopharma technology, and healthcare delivery. According to HealthQuad, these segments are expected to account for more than 40% of India’s projected $600 billion healthcare market by 2030.

The firm said the fund will continue to support healthcare startups focused on improving access, affordability, and quality of care through technology, business model innovation, and product development.

 



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