The Asian Development Bank (ADB) has signed a $25 million equity investment with Quadria Capital Fund III LP (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.

Managed by Quadria Capital, Quadria III has a target size of $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 health care distribution and retail segments.

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

ADB Private Sector Investment Funds and Special Initiatives Division Director Janette Hall said, “Through its investment, ADB will help Quadria III implement a gender impact tool to identify health care investments that address gender inequalities, promote women as a source of innovation, and support women’s empowerment.”