HealthQuad, the healthcare venture capital firm backed by Quadria Group, has secured Rs 550 crore in commitments for the first close of its third fund. HealthQuad Fund III is targeting Rs 1,700 crore to invest in early-growth companies across healthtech, medtech, biopharma technology and new healthcare delivery models. A greenshoe option could increase the total corpus to Rs 2,500 crore. The commitments have come from existing investors in HealthQuad’s earlier funds, as well as new limited partners, including local and global funds of funds, institutions and family offices. The fund has made its first investment in LifeSigns, an AI-powered remote patient monitoring platform, and is evaluating further opportunities.

HealthQuad Fund III is managed by HealthQuad Advisors Private Limited, a vehicle 100% owned by Quadria Group, with Amit Varma, Abrar Mir and Sunil Thakur as key persons. Following the mutual separation between KOIS and Quadria Group in 2025, Quadria Group has retained a majority of the team that continues to manage HealthQuad’s prior funds, Fund I and Fund II, and has expanded HealthQuad’s leadership with the addition of Rahul Agarwal and Namit Chugh.

Rahul Agarwal, Partner and IC Member, HealthQuad, said “Healthcare is undergoing one of the most significant transformations in recent times. We believe the next decade will be defined by companies that leverage emerging technologies and AI, and innovative models to make healthcare more accessible, affordable and outcome driven. Through Fund III, we are looking to partner with exceptional founders who are building category-defining businesses with local and global relevance at scale. We thank our investors for entrusting their confidence and capital with us.”

About HealthQuad

HealthQuad has been founded in 2016 by Abrar Mir, Amit Varma, and Sunil Thakur. As HealthQuad  is an  early-growth vehicle for technology-led healthcare companies, HealthQuad has backed more than 18 firms through its first two funds. Its portfolio includes Qure.ai, Wysa, Redcliffe Labs, GoApptiv, CureSkin, Strand Life Sciences, THB, ekincare and Medikabazaar.