Dubai-based TVM Capital Mena yesterday launched its first close-ended regional healthcare growth capital fund with $40 million (Dh146.8m) seed capital from founder-investors and aims to raise up to $150m, a senior official told Emirates Business yesterday.
Dr Helmut M Schühsler, Managing Partner, TVM Capital, said: "Our target amount is $100m, but we would take as much as $150m, if we can raise it."
The founder-investors include Saudi Health Investment Company, International Finance Corporation and GE Healthcare.
"Our fund is a growth capital fund that invests equity capital into companies to help them grow. Buying out existing shareholders could be part of such deal, or could be the starting point of a consolidation program in a specific market sector, but we are not a classical buy-out fund," he said.
Schühsler was optimistic that the company could raise the required fund.
The fund will seek to capitalise on the substantial growth opportunities in the healthcare service and pharmaceutical/life science sectors in the Middle East and North Africa region. On the services side, the focus will be on investments in specialised clinics, medical laboratories, small hospitals, diagnostic imaging centres, providers of outsourced services to healthcare delivery facilities, clinical trial management services, and healthcare IT and insurance.
On the life science product side, investments will focus on pharmaceutical and other life science product companies that are involved in the licensing, import, manufacture and distribution of medicines, medical devices and diagnostics.
Abdulla Mohammed Al Awar, CEO of the DIFC Authority, said some of the most exciting opportunities for private equity in the Mena lie in the healthcare sector.
Marios Fotiadis, Managing Director, said he will shortly be announcing the close of first two investments.
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