Proparco Invests $35 Mn In Healthcare-Focussed PE Firm Quadria Capital

Proparco, a subsidiary of Agence Française de Développement Group, has made an equity investment of $35 Mn in private equity (PE) firm Quadria Capital.

Proparco said that through this investment, it is supporting a firm that aims to develop a high-quality, affordable healthcare offering in the Indo-Pacific region.

Founded in 2012, PE firm Quadria Capital is focused on investments in mid-cap healthcare companies across South and Southeast Asia. It claims to have over $3.4 Bn assets under management. 

“There is a tremendous need in India alone, which by some estimates requires over $200 Bn in investments to scale up adequate healthcare infrastructure. For this reason, we are delighted to be partnering with  Proparco to provide high-impact investments that drive sustainable and equitable social outcomes,” said Sunil Thakur, partner at Quadria Capital.

The new partnership between Proparco and Quadria Capital was signed under the auspices of Chrysoula Zacharopoulou, the French minister of state for development, the Francophonie and International Partnerships. 

“Universal access to health is a long-standing priority of France’s development policy. We need both the public and private sector to mobilise. That is why France is proud to support, via Proparco, a responsible, affordable and high-quality healthcare sector in South and Southeast Asia,” said Zacharopoulou.

Quadria Capital has been investing in transformational businesses across medical devices, pharma, and health services that contribute to the affordability, accessibility, and quality of healthcare, especially among underserved communities. 

However, this is not Proparco’s first investment in Quadria Capital. The former said that its previous investments in the PE firm have helped to improve healthcare access by creating beds and other facilities in several underserved districts. 

Last year, Bengaluru-based healthcare startup MediBuddy raised $125 Mn in its Series C funding from Quadria Capital along with Lightrock India and others.

As per its website, the PE firm has made 18 investments across seven countries. Besides MediBuddy, its portfolio includes pharmaceutical company Encube Ethicals, diagnostic company Strand Life Sciences, and more.

An Inc42 analysis had earlier projected India’s overall healthtech market to balloon to $21.3 Bn by 2025, driven by more adoption of digital health services and rising internet penetration.