TVM Capital Healthcare closes Saudi Arabia-focused TVM Healthcare Afiyah Fund

28th May, 2024

Major focus of the fund on supporting medical priorities of Saudi's Vision 2030

image credit- shutterstock

image credit- shutterstock

TVM Capital Healthcare, an international healthcare expansion and growth capital investor, has announced the closing of the TVM Healthcare Afiyah Fund LP at approximately $250 million, its second pool of capital in the Middle East.  

Approximately $250 million (SAR 920 million) raised from a distinguished group of Saudi, Gulf Cooperation Council (GCC) and European investors, led by JADA, PIF's Fund of Funds Company.

The Afiyah Fund is the largest of its kind with a major focus on supporting the key medical priorities of Saudi's Vision 2030 and the Health Sector Transformation Program. Including expected co-investments from its strong limited partner base, the firm anticipates mobilising a total of $400-500 million in Saudi Arabian healthcare companies and international companies with major expansion projects in the Kingdom.

The new fund builds on the firm's past success investing in the region, providing highly attractive returns and demonstrating its ability to originate deals and develop successful, sustainable companies with excellent growth prospects and strong management teams. It also invests in healthcare growth deals in Europe and the US to support these companies' expansion plans for Saudi Arabia and the wider GCC. With this two-pronged, highly catalytic strategy, TVM Capital Healthcare optimises its contribution to transforming the Saudi economy and improves access to world-leading products, technologies, and services in the region.

Among the first investments of the fund are Baraya Extended Care, a Riyadh-based chain of long-term, post-acute care and rehabilitation clinics; DEBx Medical, an Amsterdam-based developer and manufacturer of ground-breaking products for the treatment of chronic wounds that is about to enter the Saudi market neurocare Group, a Munich-based leading innovator in personalized mental health services and products, with clinics in the US, the Netherlands, and Australia, that is preparing to enter Saudi and the GCC. Other deals include longevity and genomics, oncology, pharma manufacturing, and diagnostics.

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