Indian healthcare venture capital fund HealthQuad has announced the pre final close of its second fund with a total subscription of INR 1,134.5 Cr ($150 Mn), which is more than twice the fund’s target size of INR 550 Cr ($75 Mn).
HealthQuad is a healthtech fund which exclusively invests in startups with technology-backed disruptive healthcare models. The platform is backed by sponsors of Asian healthcare-focused private equity fund Quadria Capital and impact investing fund KOIS, who will also provide startups with sector knowledge, networks and market access.
The fund has so far invested in Medikabazaar, a digital platform for medical supplies and consumables, THB, clinical data aggregation and intelligence platform, HealthifyMe, a digital wellness startup and Impactguru, an integrated healthcare financing platform
“In a resource constrained country like India, universal healthcare access can only be achieved through the adoption of disruptive solutions. The healthcare industry needs to move beyond linear growth models and instead look at ways to disrupt the existing operating models,” said Amit Varma, cofounder of HealthQuad.
“Disruptive technological solutions have the potential to not only vault over some of the challenges, but also help reduce the requirement of doctors by one million and hospital beds by another million, thus saving more than USD 90 billion of capital investments” said Varma.
According to Inc42 Plus, India’s healthcare market is expected to grow at a CAGR of 23.7% to reach $638 Bn by 2025, driven by factors including rising incomes, better health awareness, increasing lifestyle diseases etc.
The Indian healthtech market in the meanwhile is projected to reach $21.3 Bn by 2025, growing at a CAGR of 27% to contribute to 3.2% of the global healthtech market size.
“India is the fastest growing destination for health-tech investments globally alongside the UK. The sector has already seen investments of more than $1.9 Bn in 2021 with cumulative investments of more than $4 Bn over the last 4 years,” said Charles-Antoine Janssen, cofounder and chief investment officer at HealthQuad.
Earlier this month, communication and assessment based healthcare SaaS platform Spry had raised $3 Mn in a seed funding round led by Together Fund.
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