In a country where millions struggle to access timely and affordable healthcare, Sunil Thakur sees possibility where others see obstacles. As Co-founder and Investment Committee Member of HealthQuad, he believes innovation can bridge the gaps that have long challenged India’s health system. “We invest in high-growth, new-age healthcare businesses that tackle these unmet needs through innovative, technology-driven approaches,” he said. His focus includes healthtech, medtech, biopharma, and care delivery models that make healthcare affordable, accessible, and of high quality.

HealthQuad’s sector specific strategy draws on deep expertise in healthcare, helping the team identify companies that address systemic challenges while delivering strong results. “We back next-generation models using AI, digital platforms, and product innovation to resolve inefficiencies and expand access,” Thakur explained.

The firm typically invests in early growth companies from Series A to Series C with cheques between USD 5 million and USD 20 million. For Thakur, this stage offers the right mix of proven product market fit, measurable revenue, and scalability.

For startups in tier II and tier III cities, location is not a limitation. “Our evaluation focuses on scalability, impact, and execution capability,” he stated. While talent availability can be a challenge, technology and remote work models are helping to bridge the gap.

Thakur values founders with deep domain knowledge, the ability to execute and adapt quickly, and leadership that inspires teams to deliver results. Product market fit is often confirmed through HealthQuad’s clinician network and validation from portfolio companies.

This strategy has created a portfolio that includes GoApptiv, enabling last mile delivery of branded generics; Qure.ai, an AI radiology platform recognised globally; and Medikabazaar, a leader in direct-to-hospital supplies.

Beyond capital, HealthQuad offers its portfolio access to healthcare providers, medtech and pharma leaders, regulators, and global investors. “Our ecosystem advantage allows companies to grow faster and with stronger foundations,” Thakur added.

Looking ahead, Thakur believes AI-powered deep tech will define the next phase of Indian venture investing. With 80 percent of its companies leading their categories and a presence in more than 90 countries, HealthQuad is preparing to raise USD 200 million to build the next generation of globally competitive healthcare leaders.

Facts:

• Fund Size: Raising USD 200 Mn after deploying USD 250 Mn from Fund II
• Portfolio: 13 investments from Fund II, including GoApptiv, Qure.ai, CarePal, Medikabazaar, Wysa, Red.Health, BeatO, THB, Redcliffe, and others
• Exits: 5 of 7 exits in Fund I; 2–3 more planned from Fund II