TVM Capital raises $250m for Saudi Arabia healthcare fund

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Dubai- and Singapore-headquartered healthcare private equity firm TVM Capital Healthcare said on Tuesday it had raised around $250m for its fund that focuses on investing in Saudi Arabia’s healthcare sector.

TVM Capital said, in a statement, that the Afiyah Fund raised the money from a group of Saudi Arabian, GCC and European investors, led by Jada, a Public Investment Fund’s fund of funds company.

It added that the fund is expected to include co-investments from investors which it anticipated will mobilise a total of $400m to $500m in Saudi Arabian and international companies with expansion projects in the kingdom.

TVM Capital said among the fund’s first investments are Riyadh-based post-acute care and rehabilitation clinics chain Baraya Extended Care, and Amsterdam-based wound care company DEBx Medical, which is expanding into Saudi Arabia.

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