The Asian Development Bank (ADB) signed a US$25 million equity investment with Quadria Capital Fund III (Quadria III) to enhance the quality, accessibility and affordability of health care in Southeast Asia and South Asia by supporting the growth of healthcare companies in these regions.

The fund, managed by Quadria Capital, has a target size of US$800 million, which will be used to provide fresh capital to established companies operating in healthcare services, pharmaceuticals and life sciences, medical devices and consumables, health technology, as well as consumer healthcare distribution and retail segments.

Average investments are expected to range from US$70 million to US$200 million, with larger investments expected to mobilize co-investment capital. The fund may also selectively invest in early-stage healthcare companies.

Quadria Capital, founded in 2012, is a private equity firm based in Asia focusing on healthcare, with over US$1.6 billion in assets under management.

“As one of the few healthcare funds dedicated to Southeast Asia, ADB is excited to partner with Quadria Capital in this important sector,” says Janette Hall, director of the bank’s private sector investment funds and special initiatives. “Through its investment, ADB will help Quadria III implement a gender impact tool to identify healthcare investments that address gender inequalities, promote women as a source of innovation and support women’s empowerment.”