Flying Doctors Healthcare Investment Company has unveiled a catalyst fund to support health tech 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’, would tackle Africa’s healthcare and finance challenges.
Citing the International Finance Corporation (IFC), the FDHIC noted that only a few countries in Africa spend between $34 and $40 a year per person on healthcare as recommended by the World Health Organisation (WHO).
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.
“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.
“At FDHIC CF, we will bring to bear our investment analysis and portfolio management experience,” the statement added.
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.
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.