GLOBAL: The TVM Healthcare Afiyah Fund has closed at SAR920 million (US$245.14 million) — received from a group of Saudi, GCC and European investors, led by JADA, the Public Investment Fund (PIF)’s fund of funds company. This second pool banks on TVM Capital Healthcare’s track record as the first international fund manager investing in and operating major healthcare companies in Saudi Arabia. Operating in the Middle East since 2009 and Southeast Asia since 2021, the firm has investments in Saudi Arabia plus healthcare growth deals in Europe and the US to support these companies’ expansion plans for Saudi Arabia and the wider GCC.
The latest fund has invested in Riyadh-based Baraya Extended Care’s chain of long-term, post-acute care and rehabilitation clinics, Amsterdam-based DEBx Medical that developed treatments for chronic wounds and Munich-based neurocare Group providing personalized mental health services.
