Sunday, January 23, 2022
MARKET UPDATE

TheCable

Advertisement

Flying Doctors launches catalyst fund for tech startups

Flying Doctors launches catalyst fund for tech startups
December 07
13:59 2021

Flying Doctors Healthcare Investment Company (FDHIC) has launched a catalyst fund to support healthtech and fintech startups.

Catalyst funds are used to support inclusive tech innovators in emerging markets — especially micro and small firms.

In a statement issued on Tuesday, the company said the initiative tagged ‘FDHIC Catalyst Fund’, will tackle Africa’s healthcare and finance challenges.

Citing the International Finance Corporation (IFC), FDHIC noted that only a few countries in Africa spend between $34 to $40 a year per person on healthcare as recommended by the World Health Organisation (WHO).

Advertisement

This, it said, has led to very high infant and maternal mortality rates across Africa.

The company said solving these challenges requires a holistic approach to drive financial inclusion through private sector investments.

“Through the new Flying Doctors Healthcare Investment Company (FDHIC) Catalyst Fund, we are building an investor collective that will tackle Africa’s healthcare and financial inclusion challenges by backing technology-enabled healthtech and fintech startups in the early or growth stage,” the statement reads.

Advertisement

“Our Catalyst Fund offers corporate bodies and individuals, anywhere in the world, an opportunity to invest in, and get returns from, Africa-based HealthTech and FinTech Investments combined with the satisfaction of making sustainable impacts in underserved communities.

“We provide qualified investors – who are a part of our investors collective — with vetted investment opportunities in the Fintech and HealthTech space.

“The FDHIC Catalyst Fund will channel its investments through deal-specific syndicate investment vehicles domiciled in the USA.”

Assuring prospective investors of its expertise, FDHIC said its founder and management team have deep sector expertise in healthcare and finance from years of work and study.

Advertisement

“At FDHIC CF, we will bring to bear our investment analysis and portfolio management experience,” the statement adds.

The company also pointed out that it has investments in companies like Mdaas Global, Helium health, Chisco express, Lifestores Pharmacy & Sygen.

FDHIC said it decided to democratise the membership of the catalyst fund to break away from the conventional.

“We want to give time-strapped executives and mid-level professionals the opportunity to get high-value returns without facing the attendant rigours of managing a full-time business,” the statement said.

Advertisement

It added that individuals and corporate entities can subscribe to membership of FDIHC’s investors collective, in preparation for deal sourcing, evaluation, and eventual investment.

Advertisement

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment