ImpactAlpha, August 28 – Five years after closing its first, $300 million healthcare fund, Singapore-based Quadria Capital is looking to raise up to $500 million for a second fund targeting growth-stage healthcare firms in Asia expanding access and filling service gaps.
Quadria, an impact-focused firm, doesn’t always directly target the base of Asia’s economic pyramid. But its work with portfolio companies supports their expansion into new market channels that serve a broader base of customers.
Its first fund, for example, backed Malaysia-based hospital lab chain Lablink and helped the business expand beyond Malaysia’s predominant hospital system to “establish new revenue channels by providing pathology services to other hospitals, GPs and walk-in customers.”
Its investment in FV Hospital in Vietnam was more directly focused on low-income patients.
A $25 million commitment from the World Bank’s International Finance Corporation pushes Quadria’s fundraising total above $200 million. In March, Quadria reached a $194 million first close for the fund, which included a $150 million commitment from OPIC.