Ebb & Flow

TVM Capitallast week announced a $40 million first close on a Middle East and North African-focused healthcare fund called TVM Capital MENA. Founding investors include Saudi Health Investment Co., the International Finance Corp. and GE Healthcare. TVM MENA is hoping to raise at least $100 million for the 7-year fund, which will focus its investments in the healthcare service and biopharmaceutical sectors.

"We expect to invest about 15-25% in pharmaceutical companies or life science product companies. The majority of the fund will target healthcare services and infrastructure, which is a great need in the region," Helmut Schühsler, chairman of TVM MENA and a managing partner at TVM Capital, told Ebb & Flow...