SAUDI ARABIA – TVM Capital Healthcare, a Dubai- and Singapore-based healthcare private equity firm, announced the successful closure of the Afiyah Fund to bolster investments in Saudi Arabia’s healthcare sector.

The fund secured approximately US$250 million led by JADA, PIF’s Fund of Funds Company, along with a group of Saudi, Gulf Cooperation Council (GCC) and European investors.

The Afiyah Fund’s primary objective is to bolster investments in Saudi Arabia’s healthcare sector, particularly supporting domestic health tech startups and facilitating the entry of international entities into the market.

TVM Capital anticipates co-investors participation, projecting a potential mobilization of US$400 to US$500 million, earmarked for Saudi and international firms with expansion initiatives within the kingdom.

Among the fund’s initial beneficiaries are Riyadh-based Baraya Extended Care, which specializes in post-acute care and rehabilitation clinics, and Amsterdam’s DEBx Medical, which is poised to introduce its innovative wound care solutions to the Saudi market. 

The fund’s investments extend beyond these initial ventures, encompassing diverse sectors such as neuro care, oncology, pharma manufacturing, and diagnostics.

Bandr Alhomaly, Managing Director and CEO of Jada Fund of Funds, hailed the Afiyah Fund’s closure as a pivotal moment in channeling private capital into Saudi Arabia’s healthcare sector.

He expressed enthusiasm for the fund’s potential to drive the sector’s development in alignment with Vision 2030.

Dr. Helmut M. Schuehsler, Chairman and CEO of TVM Capital Healthcare, expressed pride in attracting a diverse array of institutional and family investment groups, highlighting the unique positioning of the firm to foster success. 

With a leadership team boasting extensive expertise in global healthcare markets and longstanding ties within the Saudi healthcare landscape, TVM Capital aims to enhance the region’s healthcare ecosystem significantly.

Established in 2009, TVM Capital Healthcare has been instrumental in identifying unmet healthcare needs across the Middle East and Southeast Asia, leveraging its investments to create sustainable companies with robust growth prospects. 

With a strategic focus on transforming the Saudi economy and enhancing access to cutting-edge medical products and services, the firm’s latest endeavor highlights its commitment to driving positive change in healthcare delivery.

TVM Capital Healthcare’s footprint spans Riyadh, Dubai, Singapore, and Ho Chi Minh City, and additional offices in Munich and Boston support it. 

Represented by multinational law firm Morgan Lewis, its successful fundraising marks a significant milestone in fortifying Saudi Arabia’s healthcare landscape and propelling its journey towards a more robust, inclusive healthcare ecosystem.

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