IFC proposes $34.72m funding for PE fund Quadria Capital

The healthcare-focused PE firm has a target fund size of $555.57m for its Fund II.

Healthcare-focused private equity (PE) fund Quadria Capital received a $34.72m (US$25m) limited partnership investment proposal from the World Bank’s investment arm International Finance Corporation (IFC), according to a disclosure.

Quadria Capital Fund II has a target fund size of $555.57m (US$400m) and a hard cap of $694.4m (US$500m).

According to the disclosure, 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 also reportedly make investments in companies focused on the provision of healthcare delivery, life sciences, medical technology, and associated healthcare services. Quadria Capital completed its first close of $269.45m (US$194m) in March.

According to the IFC, the proposal is currently pending approval with a projected board date set on 23 September.