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AAIC Investment Pte. Ltd. was established in 2013 and is headquartered in Singapore. This venture capital firm is recognized as Japan's first Africa-focused healthcare venture capital fund, bridging Japanese institutional capital with innovative healthcare solutions across the African continent. The firm manages two primary funds: the Africa Healthcare Fund (AHF1), operational since 2017, and the Africa Innovation & Healthcare Fund (AHF2), which launched in 2022. Both funds aim to enhance healthcare access and quality in Africa.
As of now, AAIC Investment manages approximately $100 million in assets under management (AUM) and has invested in over 45 companies across 13 African countries. The firm has a strong focus on fast-growing healthcare companies and innovative solutions that address social issues. Notable milestones include participation in TICAD8, where AAIC signed a Memorandum of Understanding to enhance the pharmaceutical sector in Africa.
AAIC Investment specializes in the healthcare sector in Africa, targeting fast-growing companies and innovative solutions. The Africa Healthcare Fund (AHF1) has been operational since 2017 and has invested in 30 companies, while the Africa Innovation & Healthcare Fund (AHF2) launched in 2022, focusing on addressing social issues through healthcare innovation. The target fund size for AHF2 is $100 million, with over 25 companies already invested.
The firm invests across various stages, including Seed, Series A, Series B, and Growth Equity. AAIC Investment emphasizes tech-enabled social infrastructure and innovations that address Sustainable Development Goals (SDG) and Environmental, Social, and Governance (ESG) challenges in health systems. The firm seeks founders who demonstrate a commitment to enhancing healthcare access and quality in Africa.
AAIC Investment's portfolio includes notable companies that are making significant impacts in the healthcare sector:
In addition to these, AAIC Investment has also invested in companies like DeepEcho, an AI-powered fetal ultrasound analysis platform, and MYDAWA, a hybrid pharmaceutical e-commerce platform in East Africa.
Susumu Tsubaki: Director / CEO, based in Tokyo and Singapore, brings extensive experience in venture capital and healthcare investments.
Hideya Tanaka: Director, located in Shanghai, has a background in managing cross-border investments.
Shigeru Handa: Director, based in Singapore, has led several notable deals in the healthcare sector.
Hiroki Ishida: Principal, located in Kenya, focuses on identifying promising healthcare startups in the region.
Nobuhiko Ichimiya: Principal, based in Nigeria, specializes in market entry strategies for healthcare companies.
David Ndegwa: Associate, located in Kenya, supports deal sourcing and due diligence.
Ruth Nyakio: Analyst, based in Kenya, assists in market research and portfolio management.
Jeslin Goh: Associate, located in Singapore, focuses on investor relations and fundraising efforts.
To pitch AAIC Investment, founders should reach out through the firm's website. A well-prepared pitch deck is essential, detailing the business model, market opportunity, and growth strategy. While specific response time expectations were not provided, it is advisable to follow up if no response is received within a reasonable timeframe.
Warm introductions may enhance the chances of securing a meeting, so leveraging connections within the healthcare sector could be beneficial.
In March 2022, AAIC Investment held the first closing of the Africa Innovation & Healthcare Fund (AHF2), targeting innovative healthcare solutions with a fund size of $100 million. Since then, the firm has invested in over 25 companies through this fund.
In 2023, AAIC Investment participated in TICAD8, where they signed a Memorandum of Understanding with Drugstoc and Revital Healthcare to enhance the pharmaceutical sector in Africa. This partnership aims to improve access to essential medicines and healthcare services across the continent.
AAIC Investment also achieved a notable partial exit from the Africa Healthcare Network (AHN), which raised $20 million in a round led by Africa50 and AfricInvest, further solidifying the firm's reputation in the healthcare investment space.
What are AAIC Investment's investment criteria?
AAIC Investment focuses on fast-growing healthcare companies in Africa, particularly those that leverage technology to address social issues. They invest across various stages, including Seed, Series A, Series B, and Growth Equity.
How can founders apply or pitch to AAIC Investment?
Founders interested in pitching to AAIC Investment should prepare a detailed business plan that outlines their innovative solutions and how they address healthcare challenges in Africa. Specific application forms or portals were not disclosed.
What makes AAIC Investment different from other VC firms?
AAIC Investment is unique in its focus on bridging Japanese institutional capital with African healthcare innovation. The firm has a strong network of Japanese corporates and financial institutions, providing strategic guidance and access to growth capital for its portfolio companies.
What is the geographic scope of AAIC Investment?
AAIC Investment primarily focuses on the African continent, investing in companies across various countries within Africa.
What is the typical check size for investments?
While specific check sizes per deal are not publicly disclosed, AAIC Investment manages a fund size of $100 million, indicating a capacity for substantial investments in promising healthcare ventures.
What kind of post-investment involvement does AAIC Investment have?
AAIC Investment adds value to its portfolio companies by leveraging its extensive network, providing strategic guidance, and facilitating access to additional growth capital. They focus on enhancing company performance and expansion through tailored support and resources.
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