Questa Capital closes USD348m Fund II to invest in transformational healthcare companies
Questa Capital Management, a venture growth equity firm exclusively dedicated to the healthcare industry, has held the final close of Questa Capital Partners II, with USD348 million of capital commitments.
The firm's second fund will invest selectively in later stage companies in healthcare services, technology and medical devices with significant growth potential. The firm has a proven team with a collective 70 years of experience investing in and building growth stage companies.
The Fund was oversubscribed at its hard cap, securing commitments from a diversified blue-chip investor base comprised of leading endowments, foundations, family offices, consultants, pension plans and fund-of-funds.
Questa Founder and Managing Partner Ryan Drant says: "Despite the challenges of COVID-19 we have been honoured with the investor response for our second fund, which exceeded our expectations. We are both grateful for the strong interest and additional investment from our existing investors, and pleased to be starting long-term relationships with a small group of exceptional new limited partners. We look forward to continuing to build differentiated and high-growth healthcare companies in close collaboration with strong management teams. Questa will continue to partner with companies that share our vision and passion to improve clinical outcomes, efficiency, safety, and the patient experience to help address critical challenges in our healthcare system."
Questa Capital is an active and collaborative partner for the companies in which it invests. The Questa team brings deep sector expertise in healthcare services, technology and medical devices, and a deep network and industry experience to help guide portfolio companies toward leading market positions and accelerated growth. Current and exited companies within the Questa portfolio include Dispatch Health, EPIX Therapeutics (acquired by Medtronic in early 2019), and Medrio among others. Questa closed its inaugural fund in 2018 with USD199 million of capital commitments.
"The year 2020 has offered a challenging and unique set of perspectives concerning the changing US healthcare landscape. As DispatchHealth continues to grow, Questa Capital has been an exceptional partner for our company during these times as we continue to expand our team and execute on our market expansion," says Mark Prather MD, MBA, CEO and co-founder of DispatchHealth. "We are thrilled for their success in raising Fund II and look forward to their and our continued achievements, working together."
Acalyx Advisors served as exclusive placement agent and Gunderson Dettmer provided legal counsel to Questa.