New Frontier Capital Management Hong Kong, the strategic partner of Mizuho Securities’ private equity fund business, has joined forces with Blue Apple Partners to establish the Blue Apple New Frontier Healthcare Fund. With a target size of up to US$300m, it will invest in the medical and healthcare sector in the Middle East and North Africa (MENA).
New Frontier Capital Management will become the first Japanese GP to enter the Middle East in the medical and healthcare sector.
“At a time of a global crisis resulting from COVID-19, we believe that promoting investment in the medical and healthcare sector in MENA further underscores the social significance of the fund,” it said in a statement.
Blue Apple Partners is a healthcare management and investment company based in Abu Dhabi. It has a track record in the development, management, and turnaround of healthcare assets in the Middle East.
Opportunities sponsored and managed by Blue Apple have attracted institutional investors like Saudi Aramco and lnvestcorp.
The fund will focus on hospitals, medical infrastructure, medical systems, health tech, and health promotion.
In addition to fundraising from global investors including Japanese corporations, the fund will leverage the global information network related to the fund businesses of New Frontier Capital Management. It will establish a business development desk within the fund management company to collect medical and healthcare-related corporate information in the MENA region.
The business development desk will then provide the information to prospective Japanese and global corporations who wish to enter the MENA market or establish partnerships with local hospitals or corporations, enabling the Ffnd to generate synergies from a Japan angle or a global angle.
An encouraging 33 startup deals took place in May 2020, which was an increase of 93% compared to April. This was largely driven by the Misk500 MENA Accelerator, which graduated its third batch of startups. Discover more details in our May 2020 Dashboard Report.