TVM Capital, the German private equity firm (which currently manages committed capital of about $1.15 billion in healthcare), announced start of operation for its first Middle Eastern healthcare growth capital fund with first close of $40 million in Dubai.
Their regional base is called TVM Capital MENA based at DIFC with its founding investors: Saudi Health Investment Company (SHIC), the International Finance Corporation (IFC), and GE Healthcare.
To establish operations in Dubai, TVM Capital MENA had a joint venture with Boston BioCapital, a Dubai-based advisory firm for all its start-up activities, access to potential investors, investment opportunities, professionals and advisors in the region as well as general marketing and relationship building. (Boston BioCapital is listed in the Middle East Investors Directory with the code OR10.)
Their full press release follows