HealthCap Africa

The world is shifting, and capital is no longer just about returns, it is about rewriting the future. With global impact investing soaring to $1.57 trillion in 2024 (growing 21% annually since 2019), the message is clear: profit and purpose can go hand in hand. At HealthCap Africa, we don’t just invest, we ignite transformation. We have backed 16+ healthtech and fintech startups across 10+ countries, identifying game-changers before the world catches on. Today, these startups have raised nearly $100 million in follow-on capital, proving our ability to spot the best deals early. Our Impact: Healthcare: 2 million+ lives impacted with better access to life-saving medical solutions. Fintech: 1 billion+ transactions processed & $40M in loans disbursed to 3,000 SMEs, unlocking financial opportunities across Africa. Last year, we brought together some visionary impact investors, each with a story that challenges the status quo and redefines what’s possible. Their journeys prove that capital, when placed with intention, can reshape industries, communities, and futures. The video below showcases these exceptional impact investors from around the world, highlighting their journeys, insights, and contributions to sustainable change. Their stories reinforced the power of impact investing in tackling global challenges. Their work continues to inspire action, proving that investments can be a force for lasting transformation. . #15ImpactVoicesIn15Days #ImpactInvesting #HealthCapAfrica #VCforGood #SustainableFinance #InvestingForImpact Andrew Alli Florian Kemmerich Bambo Adebowale Jessica Espinoza Thelma Ekiyor Prof. Joseph Nnanna Tochukwu Ezeukwu Paul Onwuanibe Funmi Akinluyi, CFA

African Fintech is Evolving ??What is the biggest shift you see in African fintech today? The era of growth at all costs is over. McKinsey & Company’s latest report, Redefining Success: A New Playbook for African Fintech Leaders, highlights a new era, one defined by financial discipline, specialization, and sustainability. ?? Profitability over expansion – Startups must prove strong unit economics and clear paths to sustainability. ?? Specialization wins – Niche solutions in SME financing, embedded finance, and climate fintech are thriving. ?? AI is a game-changer – From fraud detection to smarter underwriting, emerging tech is reshaping financial services. ?? Market consolidation is here – Stronger players are scaling through strategic acquisitions and partnerships. At HealthCap Africa, we’ve championed these principles from day one, investing in startups built for longevity, not just scale. Get more insights from the article below?? #Fintech #AfricanStartups #VentureCapital #McKinsey

As a healthcare professional, I launched my first company armed with extensive academic and clinical expertise but lacking the management experience I desperately needed. This is a common challenge in the healthcare sector, where many companies are founded by professionals like me—rich in specialized knowledge,but novices in business management. This is where HealthCap Africa steps in. As Africa's leading sector-focused fund, our team is dedicated to supporting founders—many of whom are healthcare workers—in scaling their companies. We bridge the gap between clinical expertise and the managerial know-how required to grow impactful businesses. Acha Leke’s article highlights a critical issue that resonates deeply with our mission: "At the same time, there has been limited entrepreneurship and job creation within the private health sector, particularly in underserved communities. The private sector invests only minimally in sub-Saharan Africa’s nascent health-enabling industries, which include local pharmaceutical manufacturing, digital healthcare, and health insurance." This gap in private-sector investment and entrepreneurial support is precisely why HealthCap Africa exists. We’re here to empower healthcare founders to turn their expertise into thriving businesses that address these underserved needs and drive meaningful change across the continent.

Exciting to see The Lion's Den DFW spotlighting Africa’s investment landscape! Looking forward to insightful discussions on how faith-driven capital can fuel sustainable growth on the continent. At HealthCap Africa, we believe investing is more than just financial returns, it is about transformative impact. Through strategic investments in healthtech and fintech, we back innovative companies solving Africa’s most pressing healthcare challenges. Honoured that our Founder & General Partner, Dr. Ola Brown, MFR, will be part of this conversation, sharing insights on how capital can drive lasting change. . #ImpactInvesting #HealthTech #AfricaRising

What happens when a diagnosis can’t wait, but there’s no radiologist available? For millions across Africa, this isn’t a hypothetical situation, it is reality. With only 300 radiologists serving over 200 million people, life-saving diagnoses are often delayed. That is why HealthCap Africa invested in InstantRad Inc, a startup building West Africa’s largest teleradiology network to bridge this critical gap. With 120+ radiologists and 250+ radiographers across Nigeria and Ghana, InstantRad is making expert diagnostics accessible, no matter where patients are. ?? Faster results – Less than 4 hours for routine cases and less than 30 mins for emergencies. ?? Unmatched expertise – A network of specialists ensuring accuracy and quality. ?? Advancing research – Home to the largest mammography image repository in West Africa, shaping AI models for better breast cancer detection in women of color. At HealthCap Africa, we invest in transformative solutions that save lives. InstantRad is proving that with the right technology and expertise, no scan should ever go unread. Get more insights from InstantRad's playbook: https://rebrand.ly/iripl #BackedbyHealthCapAfrica #Teleradiology #AIinHealthcare #Radiology #WomenInHealthTech #ImpactInvesting

We are delighted to share that several of our portfolio companies have garnered some of the most esteemed awards and recognitions globally, including securing admission into the world’s leading accelerators. At HealthCap Africa, we don’t just invest, we back game-changers. And the world is taking notice! ? If you know startups, you know Y Combinator. It is the gold standard, the accelerator behind Airbnb, Stripe, DoorDash, and Coinbase. A select few make the cut, and some of our portfolio companies are among them, proving that African startups belong on the world’s biggest stage. And then there’s Techstars, the elite mentorship-driven accelerator that has fueled the growth of companies like SendGrid and ClassPass. Three (3) of our portfolio companies are Techstars alumni, cementing their place among the most promising startups worldwide. The world’s leading institutions are betting big on our startups! 4 of our portfolio companies are backed by the Bill & Melinda Gates Foundation – Healthtracka , Infiuss Health, LifeBank, and Lifestores Healthcare are driving healthcare innovation in Africa with the support of one of the world’s most impactful philanthropic organizations. 6 of our portfolio companies have been awarded the Google Black Founders Fund – MDaaS Global, Infiuss Health, LifeBank, Healthtracka Emergency Response Africa, and Lifestores Healthcare, in recognition of their groundbreaking work in Healthtech and their potential to scale. Global recognition from Bayer, Merck & Cartier – Healthtracka has earned recognition from the Bayer Foundation, while LifeBank has been honoured by the Cartier Foundation and Merck, a global leader in pharmaceuticals. These wins aren’t just trophies, they are proof that Africa’s tech ecosystem is producing world-class companies with the potential to reshape industries. They also affirm our capability to identify and support Africa’s most promising early-stage companies, driving transformative change across the continent. The global stage is set. Our founders are stepping up. And this is just the beginning.? . #BackedbyHealthCapAfrica #ImpactInvesting #StartupFunding #AfricanInnovation #GlobalRecognition

Catch our Founder & General Partner, Dr. Ola Brown, MFR, live at SuperReturn North America from the 17th-19th March, 2025. She will be hosting a roundtable today from 3:30 – 4:10 PM on: "The $3.5 Trillion Market: Unlocking the Full Potential of Private Credit." With deep expertise in scaling startups, fostering innovation, and driving impactful investments, Dr. Brown is a key connection for Limited Partners (LPs), DFIs, Family Offices, and Institutions seeking opportunities in Africa’s fast-growing venture capital ecosystem. To schedule a meeting during the summit, email: [email protected] Dr. Ola Brown, MFR, one of the first female fund managers out of Nigeria in 2015, is the General Partner at HealthCap Africa, a VC fund specializing in early-stage investments within the healthtech and fintech sectors. She has invested in over 16 startups, across two funds, yielding one of the biggest exits on the continent. Her first fund delivered an impressive IRR of 25%, a TVPI of 7x, and a DPI of 5.01x. Her second fund, HealthCap Africa, has made significant strides, backing almost 20 startups in fintech and healthtech, collectively valued at approximately $700 million, and creating 1000+ direct jobs, supporting approximately 12,000+ indirect employment opportunities, achieving gender diversity with 56.7% representation of women and 49.5% of women in management positions. SuperReturn North America 2025 is the ultimate gathering for leaders in North American private markets, happening from March 17-19 at The InterContinental Hotel, Miami. This conference brings together 200+ Limited Partners (LPs) from over 22 countries, including influential firms like Illinois Municipal Retirement Fund, Hamilton Lane, and Qatar Investment Authority, 350+ General Partners (GPs) representing the most influential and fastest-growing firms in North America and Top Speakers from Ares Management, Barings, and StepStone will share insights on co-investments, LP allocations, and the future of alternatives. . #ImpactInvesting #Healthtech #Fintech #VentureCapital #Innovation #EconomicGrowth #SuperReturnNorthAmerica

Attention all founders, startup CFOs, and accounting professionals! It's that time of year again – tax season is upon us! As we do annually, our team at HealthCap Africa organized an informative webinar designed to equip founders with the knowledge and strategies needed to navigate the complexities of tax and audit season successfully. If you weren't able to attend the live session, don't worry! We've compiled a detailed summary of the key highlights and takeaways below for your benefit. Read on to gain valuable insights that will help you streamline your tax processes, ensure compliance, and make this season as stress-free as possible!??

When I was completing my Master’s in Finance, one of my areas of focus was on how capital markets—like stock exchanges—can fuel growth in developing economies. I even wrote a book about it! I first met Gbenga in 2015/16 and we decided to write him a check. It's been incredible to see that tiny company evolve into the most valuable VC backed start up in Africa. That’s why I’m so thrilled about the idea of Flutterwave, one of Africa’s biggest success stories, potentially listing on the Nigerian Stock Exchange. It’s a big deal! Getting there won’t be easy—think regulatory hurdles, market readiness, and more—but if it happens, it’d be a massive victory for Africa. It could inspire a wave of tech companies to go public, bringing more money and attention to the continent’s innovators. At HealthCap Africa Africa, we’ve built a strong track record of delivering blockbuster exits for our investors—think of “exits” as the moment we cash out on a company we’ve backed. So far, all our wins have come through mergers and acquisitions (M&A) or secondaries (selling our stake to another investor).And we’re good at it! For example, we invested in Paystack when it was valued at about $1m and it was subsequently accquired by Stripe for $200m. But we’re also excited about the untapped potential of African capital markets. Imagine a world where companies like Flutterwave don’t just get bought by global giants, but instead list locally, letting everyday African investors buy in and share the wealth. That’s a future we’re rooting for. Want to dig deeper into how this potential Flutterwave listing could supercharge Africa’s tech scene? Check out the article below??

Specialized healthcare investment funds like HealthCap Africa demonstrate a significant edge over their counterparts in the broader specialist healthcare fund category, particularly in terms of financial returns achieved through initial public offerings (IPOs) or mergers and acquisitions (M&A). According to a detailed analysis by McKinsey & Company, these focused healthcare funds consistently outperform, delivering returns on exit that exceed those of non specialist funds by almost 20%. This superior performance is attributed to their deep industry expertise, targeted investment strategies, and ability to capitalize on high-growth opportunities within the healthcare sector, such as innovative biotech firms or advanced medical technology companies. (Source: McKinsey & Company, "Private Equity and Healthcare: Strong Returns in a Resilient Sector," 2023)