French development finance institution invests $35m to APAC healthcare fund

Proparco invested in Quadria Capital to provide affordable healthcare in South, Southeast Asia.

Proparco, the private sector financing arm of Agence Française de Développement Group, made a US$35m equity investment to Quadria Capital to support affordable healthcare in South and Southeast Asia.

The new investment in Quadria, a healthcare-focused private equity firm in APAC, will be used to support a player to develop a high quality yet affordable healthcare offering in the Indo-Pacific region, according to a press statement on Tuesday.

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

Adding to their long history of partnership, the partners expect the latest investment to plug the funding gap in the healthcare sectors of South and Southeast Asia, with a focus on four key areas of accessibility, affordability, prevention and quality.

Sunil Thakur, a partner at Quadria, underscored the firm’s commitment to investing in transformational businesses specializing in medical devices, pharma, and health services that provide healthcare with the four key health areas in mind, particularly to underserved communities.

“There is tremendous need in India alone, which by some estimates requires over US$200 billion in investments to scale up adequate healthcare infrastructure,” said Thakur.

Some of Proparco’s previous investments in Quadria helped fund the provision of beds and facilities in underserved districts, and supported the rollout of affordable healthcare products and services as cheaper alternatives for patients.

Quadria currently has $1.5 billion in assets under management with investments in 18 companies across APAC.