India-based venture capital firm Quadria Capital has raised $68m for the first close of its second HealthQuad fund, including commitments from pharmaceutical company Merck & Co and conglomerate Ackermans & van Haaren (AvH).
Other commitments came from Teachers Insurance and Annuity Association of America (TIAA) and state-owned investment agencies Sidbi and Swedfund. Quadria made its initial close of its first fund at just under $10m in June 2016.
The firm’s portfolio includes Medikabazaar, Technology Healthcare Big Data Analytics, Strand Asian Institute of Nephrology and Urology, Neurosynaptic Communications, Regency Healthcare and Hi Impact.
