31890 - QUADRIA CAPITAL FUND LP

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Summary of Investment Information

Project Number

31890

Company Name

QUADRIA CAPITAL FUND LP

Date SPI Disclosed

Nov 28, 2012

Country

South Asia Region

Region

South Asia

Projected Board Date

Aug 5, 2013

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Feb 21, 2024

Department

CM4P5 - Regional Industry - MAS Asia & Pac/MAS Portfolio - South Asia

Industry

Funds

Previous Events

Approved : Aug 5, 2013
Signed : Aug 22, 2013
Invested : Sep 17, 2013

Sector

Growth Equity Fund

Project Description

Quadria Capital Fund L.P. (“Quadria” or the “Fund”) is a single sector private equity fund dedicated to investments in the healthcare sector in South and Southeast Asia. The target Fund size is US$300 million. The Fund aims to provide equity to growth stage healthcare companies, and will focus on strategic initiatives and operational improvements in its portfolio companies. The Fund will make investments in companies focused on the provision of healthcare delivery, life sciences, medical technology, and associated healthcare services. The Fund will likely be registered in the Cayman Islands as an exempted limited partnership. Quadria expects to have its first close in 2013.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	25.0

Development Impact

(i) Provision of growth capital to small and medium sized healthcare providers, thus expanding much needed healthcare infrastructure in emerging markets. This would increase access to quality healthcare provision and generate jobs in target markets. (ii) An investment by IFC could be a demonstration of successful private equity investing in healthcare in emerging markets countries. This demonstration would build confidence amongst institutional investors to invest in emerging markets and the sector, and potentially encourage the development of domestic capital markets for investment in healthcare. (iii) The fund managers would provide hands-on guidance for operations and company management of Quadria's portfolio companies. It is expected that with this guidance, the companies will be able to provide better service and grow more quickly and sustainably than they would have otherwise, thereby promoting private sector development.

(i) IFC's commitment would act as a positive signal to potential investors about the credibility of the fund and sector attractivenes. IFC's involvement would thus play a catalytic role in mobilizing other sources of capital, contributing to a successful first closing. (ii) Providing global expertise in the private healthcare sector. IFC has broad experience in the healthcare sector and would be able to share best practices with the Fund. Furthermore, IFC's experience in the target regions and operations on the ground in many of the target countries may contribute to the Fund's success as it seeks to invest across regions and develop its network for deal sourcing and strategic exits. (iii) Having IFC as an early anchor investor would promote Quadria's adherence with funds best practices, as well as commitment by investee companies to Environmental & Social and Corporate Governance best practices.

E&S Category Rationale / Risks and Mitigation

The deal pipeline present investments which have potentially limited adverse environmental or social risks or impacts that will be few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures. In rare circumstances, it may also include a very limited number of investments s with potential significant adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented. Hence, the E&S risk of the proposed investment is medium and the project is categorised as FI-2

In accordance with IFC's Access to Information Policy, IFC will periodically disclose the names, locations and sectors of sub-projects that have been supported by IFC investments through private equity funds, subject to regulatory constraints and market sensitivities. The sub-project(s) listed below reflect(s) the status of the portfolio as of January 1, 2023.

Investee	Country Of Investment	Sector
Concord Biotech	India	G-FA - Pharmaceuticals and Medicine Manufacturing
FEM-HK	Viet Nam	S-AA - Hospitals and Clinics
Healthcare at Home	India	S-AC - Other Health Services
MWH Holdings	Singapore	S-AA - Hospitals and Clinics

Main E&S risk and impacts of the project emanates from operational phase of health care institutions which include occupational health and saftey, fire and life saftey, employee grievances, waste and pollution management and resource efficiency. There could also be concerns on land and biodiversity impacts depending on the nature and location of the investments made by the fund.


Task Description	Anticipated completion Date
Establish SEMS including guidelines for its implementation	prior to Commitment
Appoint SEMS officer/team for implementation of SEMS	prior to Commitment

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IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

Local Access of Project Documentation

Quadria Capital Investment Management
80 Raffles Place, #11-20
UOB Plaza 2
Singapore – 048 624
Tel: +65 6671 8026
Fax: +65 6671 8099

International Finance Corporation
14/F One Pacific Place
88 Queensway, Admiralty
Hong Kong

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This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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