HO CHI MINH CITY, Vietnam — Quadria Capital, a leading healthcare-focused private equity firm in Asia, announced today the final closing of its Fund III, raising $1.07 billion. This amount significantly surpasses the initial target of $800 million.
The total commitments include over $954 million in primary investments and $114 million in committed co-investment capital. Quadria expects an additional $300 million in co-investment capacity during the investment phase, bringing total capital to around $1.3 billion once fully deployed.
This new fund is about 60% larger than Quadria’s previous $600 million fund raised in 2020. The milestone strengthens Quadria’s position as the largest dedicated healthcare private equity fund in South and Southeast Asia.
Abrar Mir, Co-Founder and Managing Partner of Quadria Capital, said, “Closing Fund III in such a tough fundraising environment validates our strategy and mission. It shows strong global investor confidence in Asia’s healthcare sector, where social impact and financial returns go hand in hand.”
Strong Global Support Across Regions
Despite cautious global capital markets, Quadria attracted major investors worldwide. Its key backers include sovereign wealth funds, asset managers, and corporate investors from North America and Europe. The fund also secured new investments from prominent institutions in the Gulf Cooperation Council countries, such as Saudi Arabia, the UAE, and Bahrain.
India also contributed fresh capital from banks, insurance companies, and family offices. Impact investors showed strong renewed support, highlighting Quadria’s commitment to healthcare businesses that deliver vital services to underserved populations across Asia.
Focus on Vietnam’s Growing $25 Billion Healthcare Market
Vietnam is undergoing rapid changes in healthcare due to urbanization, rising incomes, and increasing demand for quality medical services, said Ewan Davis, Partner at Quadria Capital.
“Our strategy combines deep local knowledge with global best practices and capital to help leading healthcare providers grow,” Davis added.
Quadria’s local office in Ho Chi Minh City is led by experienced Vietnamese professionals. The firm provides financial resources alongside hands-on support for long-term growth. Investments in FV Hospital have led to clinical improvements and better patient outcomes. Quadria also helped Con Cung become a top mother-and-baby retailer by improving governance, operations, and scalability.
Janice Trinh, Country Head for Vietnam, said, “Vietnam is entering a golden age of healthcare transformation. Patient expectations are rising, medical talent is growing, and innovation is welcomed. Quadria is dedicated to supporting this progress by partnering with national leaders to build a strong healthcare ecosystem that delivers better, affordable care for all Vietnamese.”
About Quadria
Founded in 2012, Quadria Capital manages over $4 billion in assets. It has invested in 27 healthcare companies across South and Southeast Asia, including India, Vietnam, Indonesia, Malaysia, and Singapore. Quadria focuses on partnering with healthcare businesses to increase their impact and scale, while delivering strong returns to investors.
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