HealthKois, a healthcare transformation investment fund, has launched with a target corpus of $300 million, and an additional green shoe option of $100 million.
The fund has been established by the key leadership team behind HealthQuad, Charles Janssen (Managing Partner), Ajay Mahipal (Partner) and Dr Pinak Shrikhande (Partner).
As a successor fund to HealthQuad, HealthKois will accelerate India’s healthcare evolution by investing in technology-enabled, scalable, and high-impact enterprises. The fund is focused on supporting companies that offer robust operational scalability, demonstrable clinical outcomes, and sustainable infrastructure solutions.
HealthKois aims to deliver top-tier risk-adjusted financial returns alongside measurable societal impact. Over the next four years, the firm will invest between $7 million to $25 million per company in early growth-stage businesses operating across healthtech, life sciences, medtech, healthcare delivery and climate health.
Backed by over a century of the combined expertise of the founders in clinical care, operations, and healthcare investing, HealthKois adopts a founder-first, hands-on approach. Leveraging a global network across Asia and Europe, the firm actively supports its portfolio with strategic guidance, go-to-market planning, organizational design, and governance. Beyond capital, HealthKois serves as a long-term partner, driving growth, enabling market expansion, and fostering value creation at every stage.
Charles Janssen, Managing Partner, HealthKois, said, “HealthKois will back technology-led and innovative healthcare companies that address critical gaps in accessibility, affordability, and quality of care. Our goal is to transform care delivery by enabling early-growth ventures that bring real-world impact. With access to over 75 per cent proprietary deal flow, we’re well-positioned to leverage our deep networks and operational expertise to deliver both superior financial returns and societal outcomes.”
Ajay Mahipal, Partner, HealthKois, said, “HealthKois represents our deep belief that meaningful change in healthcare can only be achieved by scaling enterprises that blend purpose with performance. At HealthKois, we’re not just capital providers, we are long-term collaborators with founders, bringing strategic direction, global networks, and deep sector knowledge to help unlock their full potential. We invest in ventures that revolutionize healthcare delivery while also strengthening infrastructure resilience in India and other LMIC markets.”
Dr Pinak Shrikhande, Partner, HealthKois, said, “Our experience has taught us that true innovation in healthcare is born out of empathy, evidence, and execution. We look for companies that go beyond intent to deliver real clinical and operational impact. Transformation doesn’t happen in silos, it requires a blend of clinical insight, practical know-how, and the conviction to back bold ideas. At HealthKois, we bring a hands-on, collaborative approach rooted in trust and deep sector expertise, enabling founders to build scalable, outcome-driven solutions that truly move the needle for patients and health systems alike.”
HealthKois builds upon the legacy of HealthQuad Funds I and II, which have successfully backed companies having touched over 90 million lives and serving 8.2 million patients annually. While HealthQuad Funds I and II will continue to operate under the existing framework, HealthKois marks a significant evolution in the mission to catalyse healthcare transformation in India and other emerging markets.
