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Fund

Shefa MENA Health Fund

  • US$40 million (first closing)

Shefa MENA Health Fund is the first fund managed by TVM Capital MENA Ltd. with an initial close of US$40 million in early February 2010 providing Shari’a compliant growth capital to healthcare businesses in the MENA region. International Finance Corporation (IFC), GE Healthcare, and Saudi Health and Investment Company (SHIC) are the founding investors of the Fund. The general objective is to develop companies into fast growing cash flow generating enterprises that are independent of the capital markets and attractive IPO and takeover targets.

Focus is on growth capital and occasionally growth buyouts (where succession issues are being resolved in parallel with our growth investment) across all stages with different investment, syndication and exit strategies depending on stage and capital requirements. Pre-commercial stage investments will be made only very selectively where indigenous science appears to allow rapid development to a point where the product could be sold profitably; or where European, U.S. or Asian companies have products that address specific underserved medical needs in the MENA region, such as diabetes and certain hereditary diseases like beta thalassemia and sickle cell anemia.

Ethical Investment Considerations

Ethical Investment Considerations. As guiding principles for our interactions with investors, portfolio companies, co-investors in transactions, service providers and the community at large, we have adopted a behavioural code, the EVCA Code of Conduct (one of the key ethical codes in the private equity industry, established by the European Private Equity and Venture Capital Association). This Code is compulsory for all members of EVCA in Europe, and for TVM Capital MENA it also serves as the key ethical guideline especially in the field of deal making. We also have adopted all other guidelines and statements of principles the EVCA has issued, such as the Governing Principles, the International Private Equity and Venture Capital Valuation Guidelines, and the Guidelines on Corporate Governance and Reporting. Shari’a Principles. The Fund complies with Shari’a principles as determined by our Shari’a board for each and every investment. Our Shari’a scholars are Dr. Daud Bakar, Dr. Abdul Sattar Abu Ghuddah, Sheikh Essam Ishaq, Sheikh Dr. Yousef Alshubaily, and Sheikh Dr. Mohamed Akram Laldin.