Asahi Intecc, Eisai and Ohara were among the LPs of Africa-minded AAIC Investment’s second vehicle, following in the footsteps of corporate-backed Samurai Africa Fund 2.

Pharmaceutical firms Asahi Intecc, Eisai Corporation and Ohara Pharmaceutical Industries all committed to Africa Innovation & Healthcare Fund (AFH2), part of Singapore-based investment group AAIC Investment.

Unnamed trading groups filled out the limited partners for the first close of AFH2, which is targeting a $150m final close. Its predecessor AHF1 had raised $47m in 2017, and has backed some 30 companies focusing on healthcare and the United Nations’ Sustainable Development Goals.

AHF2 will continue to identify and back healthtech-minded companies…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.