Medtech

The Africa Innovation and Healthcare Fund 1 (AHF-1) is a venture capital and impact fund managed by AAIC Investment, a Japan-based investment manager dedicated to advancing healthcare and innovation across the African continent. Launched in 2017 as Japan's first fund with an exclusive focus on the African healthcare sector, AHF-1 represents a pioneering effort to channel institutional capital from Japanese financial institutions and corporations into high-growth, mission-driven businesses across Sub-Saharan Africa. AHF-1 targets early- to late-stage companies operating across the full spectrum of healthcare and adjacent verticals, including clinical care, medical services, digital health, health technology, pharmaceutical distribution, insurance, diagnostics, and health-enabling infrastructure such as fintech and mobility. The fund takes equity positions and provides hands-on operational and strategic support to portfolio companies through AAIC's deep local networks in Kenya, Nigeria, Egypt, Rwanda, and other key African markets. The investment thesis centers on the belief that healthcare companies in Africa can achieve strong financial returns while addressing acute social challenges in underserved markets. AHF-1 reached a final close at USD 47 million and deployed capital across more than 30 startups and established companies, establishing AAIC Investment as one of the leading Japan-Africa impact investors in the private markets space. The fund's success laid the foundation for the Africa Innovation and Healthcare Fund 2 (AHF-2), launched in 2022 with a USD 150 million target, continuing to scale the manager's pan-African healthcare investment franchise. AAIC Holdings Pte. Ltd., headquartered in Singapore, serves as the parent organization with regional operations across Africa and Asia.

Columbus Innvierte Life Science I is the debut venture capital fund managed by Columbus Venture Partners, a Valencia, Spain-based life sciences investor founded in 2016 by Javier García and Damià Tormo. The fund was registered with the Spanish securities regulator CNMV (registration no. 190) and launched in April 2016 as part of Spain's Innvierte programme, a public-private co-investment initiative supporting early-stage innovation. The fund raised EUR 42 million and had an investment period running from 2016 to 2018, making seed and Series A investments in deep biotech and advanced therapy companies, primarily in Spain. The fund's strategy combined scientific expertise in therapeutic development with an industrial vision, targeting companies working on cell and gene therapies, AAV vector manufacturing, and other disruptive life sciences platforms. Columbus Venture Partners brought a distinctive approach of investing in both product development and the manufacturing infrastructure required to scale these technologies, thereby shortening time to exit. The geographic focus was Spain with international reach, co-investing alongside specialist international and corporate venture funds. The fund built a portfolio of eight investments and has since generated exceptional returns through landmark exits. Viralgen Vector Core was sold to Bayer in 2020 in a transaction valued at approximately EUR 4 billion. Vivet Therapeutics was acquired by Pfizer for an upfront and option value of EUR 560 million. Aura Biosciences completed a NASDAQ IPO in 2021. Columbus Venture Partners now manages over EUR 400 million across four successive funds, establishing itself as one of Spain's leading life sciences venture capital franchises.

Deerfield Healthcare Innovations Fund III is the third installment in Deerfield Management's series of venture capital funds dedicated to advancing healthcare. Launched in May 2025, the fund has secured over $600 million in commitments, aiming to invest in promising therapeutics, improvements to healthcare delivery, and paradigm-shifting technologies, including machine learning and artificial intelligence. The fund's strategy leverages Deerfield's collaborations with 29 leading research institutions and nine industry partners. Through its in-house ecosystem, including specialized teams like Deerfield Discovery and Development (3DC) and Deerfield Intelligence, the firm identifies and advances innovative products, services, and technologies. These efforts are often in partnership with Deerfield-founded entities such as Deerfield Catalyst and Genscience. Operating from its twelve-story healthcare innovation campus, Cure, in New York City, Deerfield provides state-of-the-art research laboratories and convening spaces to support health innovators. Consistent with its long-standing practice, a portion of the profits from Healthcare Innovations Fund III not allocated to the fund's limited partners will be donated to the Deerfield Foundation, a not-for-profit organization focused on improving the health of children worldwide.

The fund is the fourth flagship vehicle from GHO Capital, leveraging its deep specialization in healthcare to back companies delivering better, faster and more accessible care. With its final close at over €2.5 billion, the vehicle is positioned to scale high‑growth businesses across services, medtech, diagnostics and health‑tech platforms. GHO Capital IV focuses on companies where strong management, operational improvement and international expansion can unlock significant value. The fund partners with leadership teams in niche but growing healthcare subsectors and applies the firm’s sector insight, global network and operational resources to drive transformation. The strategy targets enterprises that serve pharmaceutical, biotechnology and medical device customers — such as CDMOs, contract services, outsourcing platforms, diagnostics manufacturers and digital health enablers — where structural tailwinds and under‑penetrated markets offer runway for growth. Geographically, the fund emphasises Europe and North America but retains flexibility to leverage cross‑border dynamics, enabling portfolio companies to scale internationally. Through disciplined buy‑outs, add‑on consolidation and operational acceleration, GHO Capital IV aims to d

Mérieux Innovation 2 (MI2) is the second-generation venture capital fund managed by Mérieux Equity Partners, focused on advancing innovation in the healthcare sector. Building on the success of its predecessor, MI2 is designed to support early-stage companies with high-impact solutions across diagnostics, medical devices, and pharmaceutical services. The fund targets platform-based business models with validated proof of concept, offering scalability and long-term growth potential. MI2 combines capital investment with strategic guidance and access to a robust healthcare ecosystem, helping portfolio companies accelerate development and go-to-market strategies. MI2 has received the prestigious Tibi label, highlighting its commitment to driving technological innovation within France and the broader European healthcare landscape. It aims to generate strong returns while contributing meaningfully to patient care and clinical outcomes. The fund’s first investment is a €6 million commitment to DeepUll, a Spanish diagnostics company developing rapid sepsis detection technology. This aligns with MI2’s goal of supporting transformative platforms that address critical medical needs.