AAIC healthcare fund receives investment from Japan's Marubeni
AAIC Investment, investment manager of the Africa Innovation & Healthcare Fund (AHF2), announced that AHF2 has received investments from Marubeni Corporation.
The participation of Marubeni – a general trading company that has been in business for 164 years – is expected to bring great synergy to the fund and its investees in creating valuable businesses in healthcare-related fields and contributing to the advancement of Africa and neighbouring regions.
In addition, AHF2 has recently invested in Aumet, a fast-growing health-tech startup in the Middle East and North Africa (MENA) region.
Aumet is a B2B marketplace that connects pharmaceutical suppliers with pharmacies. Its comprehensive product suite also includes a proprietary payment gateway to facilitate payments, as well as an inventory management system for pharmacies and an ERP system for suppliers. The company operates in Jordan, Egypt, Turkey, and Saudi Arabia. While founded in 2016, it has facilitated over 884,000 transactions across 3,339 pharmacies, with a cumulative transaction value exceeding $88 million.
AAIC Investment launched Japan’s first Africa-focused fund (Africa Healthcare Fund, AHF1) in 2017 and raised $47 million. To date, it has invested in and supported the growth of 30 companies, mainly in the healthcare space.
AHF2 will continue to invest in and support the growth of companies in the digital healthcare sector, which due to the Covid-19 pandemic, are undergoing rapid digital transformations, facilitating innovations such as teleconsulting, and artificial intelligence in medical diagnosis, etc. The fund will also invest in other technology companies leading the growth of the African scene in sectors such as fintech and insurtech.
Companies including Asahi Intec Co., Ltd, Eisai Co., Ltd and Ohara Pharmaceutical Industry Co., Ltd joined AHF 2 during the first close in April, and now with the participation of Marubeni Corporation, investment and fund support services will continue alongside with fundraising activities to reach the target of $150 million.
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