Japanese AAIC Investment has received additional investments for its Africa Healthcare Fund 2 (AHF2), which brings the combined size of its two funds to $87 million.
According to AAIC,
- The Development Bank of Japan (DBJ)
- QR Investment
- TOPPAN Holdings
and other investors have contributed to the fund, increasing the total size of both funds to $87 million.
Founded in 2013, AAIC Investment serves as the fund management division of AAIC Holdings. It commenced its support for the corporate venture capital (CVC) arms of Japanese corporations in 2014 and later established the first Japan-focused African fund, known as the Africa Healthcare Fund 1 (AHF1), in 2017.
AAIC aims to invest in fast growing companies within the Healthcare sector in Africa. Its primary focus is to provide growth capital as well as long term value to assist companies in improving their performance and expansion.
Through AHF1 and AHF2, introduced in 2022, AAIC Investment has made investments in 45 companies.
“We will continue to invest in and support the growth of innovative companies in Africa that achieve sustainable economic growth and solve social issues,” the firm said.
The funds include an impressive portfolio of some of the leading healthcare startups, and others across Africa:
- Africa Healthcare Network
- Jumuia Hospitals
- Checkups Medical Hub
- Jacaranda Maternity
- MyDawa
- RecoMed
- DentaCarts
- Kobo
- Access.Mobile
- Insurance For All (IFA)
- Chipper
- Sendy
- Reliance Health
- Helium Health
- Shexlong
- Rology
- Gozem
- Sana Health
- Lami
- CrowdForce
- Flare
- LifeBank
- VitalRay
According to AAIC, the new investors will leverage its solutions and customer network to work with Japanese companies with AHF2’s investments and to create co-investment opportunities with AHF2 and businesses in Africa.
“The enthusiasm for investing in Africa from Japan remains strong. I believe that the increased involvement of corporate entities, such as the LP in this case, will lead to a growth in exit opportunities, addressing a key current challenge for African VC,” said Hiroki Ishida, director at AAIC’s Kenya office.
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