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Healthcare-focused PE firm Quadria Capital hits first close of new Asian fund at $107M

In March 2013, the PE firm acquired an Indian fund focused on healthcare and education jointly run by Milestone Capital and Religare.
BY  Lohit Jagwani

Asian healthcare sector-focused private equity firm Quadria Capital has announced the first close of its second fund Quadria Capital Fund L.P. with total commitments of $107 million. It is targeting a final close at $300 million.

The fund is focused on making growth equity investments in mid-sized healthcare companies in South and Southeast Asia. In healthcare segment, the fund will focus on healthcare delivery, life sciences, medical technology and associated healthcare services segments.

“We have got commitments by several high quality institutions with deep healthcare experience, including development finance institutions, investment institutions, leading corporate investors, and family offices globally,” said Amit Verma, co-founder and managing partner of Quadria Capital.

The Quadria fund and platform is supported by Religare Global Asset Management (RGAM) as a cornerstone investor.

In March 2013, the PE firm acquired Milestone Religare Investment Advisors Pvt Ltd (Milestone Religare), an equal joint venture between Milestone Capital and Religare. Milestone Capital had been looking for buyers after its founder Ved Prakash Arya died in a freak accident in August 2011.

This deal brought under Quadria’s fold Rs 434 crore India Build-Out Fund-I which is focused on healthcare and education sectors besides others. Till now, Quadria Capital has made six investments out of this fund in companies in healthcare, education, credit research, food and agri industries.

The portfolio companies under this include oncology chain Healthcare Global Enterprises, Hyderabad’s multispecialty hospital KIMS and test preparation firms IMS Learning and Resonance Eduventures.

(Edited by Joby Puthuparampil Johnson)

Milestone Capital Advisors Ltd. is an alternative investment advisory firm with approximately $800 million assets under management. It provides private equity and mezzanine capital to companies operating in India. The firm seeks to invest in bullion and real estate sectors focusing residential, commercial and warehousing assets. The company was founded in 2007 and is based in Mumbai, Maharashtra.

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