New Delhi, July 13 (IANS) Health care venture capital fund HealthQuad has announced the first close of its second fund with a commitment of Rs 514 crore, helping it achieve 93 per cent of the target fund size of Rs 550 crore.
"Considering the success and overwhelming demand, the fund will exercise its green-shoe option," the VC fund said in a statement.
The fund has been supported by some global investors including Ackermans & van Haaren (AvH), Teachers Insurance and Annuity Association of America (TIAA), Indian DFI SIDBI, Swedfund and pharma giant Merck & Co Inc.
Charles-Antoine Janssen, co-founder and Chief Investment Officer of HealthQuad, said, "We are extremely delighted about the successful first close of our second fund as we build on our strategy to capture the exceptional opportunity in Indian health care. HealthQuad is committed towards creating an ecosystem of such category defining companies that improve accessibility and affordability and elevate the overall health care standards in India."
HealthQuad is positioned as an Indian health care transformation fund, which taps into opportunities in disruptive health care models to unlock value and create deep social impact.
The platform is backed by KOIS, a global pioneer in impact investing and innovative finance and the sponsors of Quadria Capital, a healthcare focused private equity fund in Asia, who provide a strong ecosystem of sector knowledge, network, brand, commercial synergies and market access.
Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: IANS