AAIC Investment introduces the second round of funding for Afrocentric Startups
AAIC Investment Pte. Ltd. (AAIC Investment), a Japanese investment corporation established in Singapore, is pleased to announce the First Closing of its second fund, Africa Innovation & Healthcare Fund VCC –AHF2, in March 2022.
AHF 2 will begin investing and accepting subscriptions once it has reached its target of USD 150 million.
The AHF2 was founded by Asahi Intecc Co., Ltd, Eisai Inc., Ohara Pharmaceuticals (*), and other important Japanese trading companies.
According to Partech analysis, African start-ups raised a total of USD 5.24 billion in funding in 2021, catching up quickly to the amount raised by Japanese start-ups.
AHF2 focuses on healthcare, which is a critical SDG Goal (SDG 3) and a sector that is witnessing rapid growth in the domains of telemedicine and AI-led diagnosis as a result of the Coronavirus pandemic.
Other sectors of investment include Fintech, whose goods and services play a critical role in stimulating the expansion of the Healthcare industry.
In 2017, AAIC Investment launched the Africa Healthcare Fund (AHF1), its first Africa-focused fund. To date, the fund has invested in and supported the growth of 30 start-ups, raising a total of USD 47 million. Chipper Cash, a financial start-up, reached a unicorn in 2021, thanks to one of its portfolio companies.
AHF1 was the first Japanese-affiliated VC to operate in Kenya in 2015. The investment manager will open two more offices in Nigeria and South Africa in December 2020 and March 2022, respectively.
In addition, it is establishing an office in Egypt. Kenya, Nigeria, South Africa, and Egypt will account for roughly 74% of all African startup investments in 2021. (Partech). AAIC Investment hopes to expand its operational scope to include all African regions with the launch of AHF2.
Startups, as the backbone of the African economy, stand to gain a lot from these funds. Startups will get the finance they need while also contributing significantly to the continent’s economic development.
Africa Innovation and Healthcare Fund (AIF) is the name of the fund (AHF2)
The countries of focus include Kenya, Nigeria, South Africa, and Egypt.
- Intended sectors: Medical and healthcare sectors, as well as technology-driven companies in other social infrastructure fields such as finance, insurance, and logistics.
- Investment stages: Series A and B investments
- Ticket price range: $5 million to $50 million
