The Asian Development Bank (ADB) signed a $25 million equity investment with Quadria Capital Fund III LP (Quadria III) to enhance the quality, accessibility, and affordability of health care in Southeast Asia and South Asia by supporting the growth of health care companies in these regions.
Managed by Quadria Capital, Quadria III has a target size of $800 million, which will be used to provide fresh capital to established companies operating in health care services, pharmaceuticals and life sciences, medical devices and consumables, health technology, as well as consumer health care distribution and retail segments. Average investments are expected to range from $70 million to $200 million, with larger investments expected to mobilize co-investment capital. The fund may also selectively invest in early-stage health care companies.
“As one of the few healthcare funds dedicated to Southeast Asia ADB is excited to partner with Quadria Capital in this important sector,” said ADB Private Sector Investment Funds and Special Initiatives Division Director Janette Hall. “Through its investment, ADB will help Quadria III implement a gender impact tool to identify health care investments that address gender inequalities, promote women as a source of innovation, and support women’s empowerment.”
Founded in 2012, Quadria Capital is a private equity firm based in Asia focusing on health care, with over $ 1.6 billion in assets under management. This is ADB’s first investment in a health care fund managed by Quadria Capital. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members, 49 from the region.
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