CARE9 Ventures: Investing in Healthcare’s Future
CARE9 Ventures is the investment and innovation arm of CARE9 Global, focused on identifying, developing, and scaling healthcare solutions that transform emerging market healthcare systems. We invest in companies, technologies, and initiatives aligned with CARE9’s mission to deliver sovereign healthcare at scale.
Investment Philosophy
Core Principles
Patient-Centered Impact
- Every investment measured by impact on patient outcomes and healthcare access
- Commitment to affordability without compromising quality
- Focus on sustainable, scalable solutions
Emerging Market Expertise
- Deep understanding of emerging market healthcare ecosystems
- Experience navigating complex regulatory environments
- Ability to adapt global solutions for local contexts
Vertical Integration
- Investments complementing CARE9’s core “molecule to bedside” model
- Strategic synergies with existing CARE9 operations
- Network effects across portfolio companies
Long-Term Value Creation
- Patient capital supporting multi-year development cycles
- Operational support beyond capital deployment
- Build-to-hold mentality with strong exit pathways
ESG Excellence
- Investments evaluated for environmental, social, and governance impact
- Commitment to ethical, transparent, and compliant operations
- Alignment with SDG priorities
Investment Focus Areas
1. Digital Health & Health Information Systems
Investment Thesis: Healthcare digitalization drives efficiency, quality, and data-driven decision-making in emerging markets.
Focus Areas:
- Electronic Health Records (EHR) systems for emerging market deployment
- Hospital Information Systems for multi-facility networks
- Diagnostic Management Systems integrating lab operations
- Telemedicine Platforms enabling specialist access
- Pharmacy Management Systems and supply chain optimization
- Patient Engagement Platforms improving adherence and outcomes
- Data Analytics for population health management
- AI/Machine Learning for clinical decision support
Portfolio Company Types:
- Health IT startups with emerging market focus
- Healthcare software companies with scalability potential
- Digital health innovators in specialized domains
- Cybersecurity and health data protection companies
Investment Size: USD 5-30M per investment
2. Diagnostics & Laboratory Services
Investment Thesis: Accessible diagnostic infrastructure is critical for early detection and treatment in emerging markets.
Focus Areas:
- Advanced Diagnostics Technologies (molecular, genomic, pathology)
- Point-of-Care Testing solutions for remote areas
- Laboratory Automation improving turnaround times
- Quality Control Systems ensuring accuracy and reliability
- Digital Pathology Platforms enabling specialist consultations
- Reference Laboratory Networks serving regional populations
- Diagnostic Device Manufacturing for emerging markets
- Biomarker Discovery for disease stratification
Portfolio Company Types:
- Diagnostic device manufacturers
- Laboratory service providers
- Clinical laboratory networks
- Pathology AI and digital solutions
- Point-of-care testing companies
Investment Size: USD 10-50M per investment
3. Pharmaceutical Manufacturing & Supply Chain
Investment Thesis: Local manufacturing and supply chain optimization reduce costs, improve quality, and build healthcare sovereignty.
Focus Areas:
- Active Pharmaceutical Ingredient (API) manufacturing for critical medicines
- Formulation & Finishing facilities for emerging markets
- Specialty Pharmaceutical Manufacturing (injectables, biologics, oncology)
- Supply Chain Digitalization improving traceability and efficiency
- Cold-Chain Logistics for temperature-sensitive products
- Pharmaceutical Packaging innovations and sustainability
- Quality Assurance Technologies for manufacturing compliance
- Contract Manufacturing Organizations (CMOs) with GMP capabilities
Portfolio Company Types:
- Pharmaceutical manufacturers with emerging market focus
- CMO/CDMO operators
- Pharmaceutical supply chain companies
- Logistics and distribution specialists
- Quality assurance technology providers
Investment Size: USD 20-100M per investment
4. Specialty Healthcare Services
Investment Thesis: Specialty care availability in emerging markets reduces medical tourism and improves outcomes.
Focus Areas:
- Oncology Centers providing cancer diagnosis and treatment
- Cardiac Care Networks for cardiovascular disease management
- Surgical Centers for specialized procedures
- Maternal & Child Health facilities improving pregnancy and pediatric outcomes
- Infectious Disease Treatment for endemic diseases
- Rehabilitation & Physical Medicine facilities
- Mental Health & Psychiatry services
- Trauma & Emergency Care networks
Portfolio Company Types:
- Specialty hospital operators
- Clinical partnership networks
- Healthcare service providers
- Telemedicine networks for specialist care
- Surgical center operators
Investment Size: USD 30-150M per investment
5. Healthcare Education & Workforce Development
Investment Thesis: Skilled healthcare workforce is essential for quality service delivery and local capacity building.
Focus Areas:
- Medical and Nursing Education programs
- Professional Certification and continuing education
- Healthcare Workforce Training platforms
- Medical Simulation and skills laboratories
- Distance Learning & E-Learning for healthcare professionals
- Research & Development in healthcare
- Clinical Fellowship programs
- Management & Leadership training for healthcare leaders
Portfolio Company Types:
- Educational institutions with healthcare focus
- Online learning platforms for healthcare professionals
- Training and certification providers
- Medical simulation companies
- Healthcare leadership development programs
Investment Size: USD 5-25M per investment
6. Healthcare Technology & Innovation
Investment Thesis: Innovative technologies solve emerging market healthcare challenges and improve operational efficiency.
Focus Areas:
- Artificial Intelligence for diagnostics and clinical decision support
- Medical Devices for emerging market needs
- Biotechnology for disease treatment
- Genomics & Precision Medicine platforms
- Mobile Health (mHealth) applications
- Internet of Things (IoT) for patient monitoring
- Blockchain for healthcare traceability
- Robotics & Automation in healthcare
Portfolio Company Types:
- Healthcare technology startups
- Medical device innovators
- Biotech companies
- AI/ML healthcare companies
- Health tech platforms
Investment Size: USD 5-40M per investment
7. Healthcare Finance & Impact Investment
Investment Thesis: Innovative financing models expand healthcare access and create sustainable business models.
Focus Areas:
- Microfinance for healthcare access
- Health Insurance Products for emerging market populations
- Patient Financing Solutions reducing out-of-pocket costs
- Healthcare Investment Funds supporting infrastructure
- Blended Finance Instruments attracting development capital
- Social Impact Bonds for healthcare outcomes
- Hospital Management Services improving operational efficiency
- Healthcare Real Estate Development (REIT-like structures)
Portfolio Company Types:
- Fintech companies in healthcare
- Health insurance providers
- Healthcare finance platforms
- Hospital management companies
- Impact investment vehicles
Investment Size: USD 10-75M per investment
Investment Process & Criteria
Investment Evaluation Framework
Strategic Alignment
- Complement to CARE9’s core operations
- Alignment with mission of emerging market healthcare transformation
- Synergy with existing portfolio and business units
- Scalability across multiple markets
Financial Viability
- Clear path to profitability and sustainable unit economics
- Realistic revenue projections and growth assumptions
- Appropriate capital structure and funding requirements
- Acceptable return on investment timelines
Management Team
- Experienced leadership in healthcare and emerging markets
- Proven ability to execute and achieve milestones
- Commitment to quality and patient impact
- Complementary skills and background diversity
Market Opportunity
- Large addressable market in emerging markets
- Demonstrated customer demand and product-market fit
- Competitive positioning and differentiation
- Regulatory pathway clarity
Impact Potential
- Measurable impact on patient outcomes or healthcare access
- Scalability to reach significant populations
- Alignment with WHO/SDG priorities
- ESG performance and sustainability
Risk Management
- Regulatory and compliance risks manageable
- Technology/intellectual property risks acceptable
- Market and execution risks within acceptable bounds
- Governance and ethical standards alignment
Investment Sizes & Stages
Early Stage (Seed to Series A): USD 2-15M
- Validation of product-market fit
- Technology development and proof of concept
- Team building and go-to-market preparation
Growth Stage (Series B-C): USD 15-60M
- Market expansion and scale-up
- Organizational development
- Regional rollout and growth acceleration
Late Stage (Series D+): USD 50-200M+
- Pan-regional expansion
- Strategic partnerships and integrations
- Preparation for exit or strategic transactions
Investment Horizon
- Typical Holding Period: 5-10 years
- Exit Strategy: Strategic sale to larger healthcare company, secondary sale, IPO, or recapitalization
- Patient Capital: Prepared to hold longer for high-impact opportunities
Portfolio Highlights
Notable Investments
Digital Health Platform (CARE9 Series A)
- Investment: USD 15M
- Focus: EHR and hospital management software for Africa
- Status: Deployed across 50+ facilities
- Impact: 500K+ patients served
Diagnostics Network Company (CARE9 Series B)
- Investment: USD 35M
- Focus: Regional diagnostics hub and spoke network
- Status: Operating in 8 African countries
- Impact: 2M+ diagnostic tests annually
Specialty Hospital Operator (CARE9 Co-Investment)
- Investment: USD 60M (co-investment with DFI)
- Focus: Oncology and specialty care network
- Status: Operating 5 hospitals across 3 countries
- Impact: 50K+ specialty patients treated annually
Pharmaceutical Manufacturing (CARE9 Growth Stage)
- Investment: USD 40M
- Focus: Local API and finished product manufacturing
- Status: WHO-GMP certified, operational
- Impact: USD 200M+ annual pharmaceutical supply
Health Tech Startup (CARE9 Early Stage)
- Investment: USD 8M
- Focus: AI-powered diagnostic assistant
- Status: Deployed in 30+ diagnostic centers
- Impact: 100K+ consultations conducted
CARE9 Ventures Partnership Model
Value Added Beyond Capital
Strategic Support
- Market entry and regulatory navigation
- Partnership identification and facilitation
- Business model refinement for emerging markets
- Go-to-market strategy and execution
Operational Support
- Access to CARE9’s operational expertise
- Supply chain integration opportunities
- Manufacturing and quality assurance guidance
- Digital health deployment and scaling support
Financial Support
- Patient capital with appropriate growth expectations
- Additional funding rounds supported (lead or follow)
- Refinancing support and financial structuring
- Exit facilitation and transaction support
Network Access
- Connections to development finance institutions
- Government and regulatory relationships
- Healthcare professional and institutional networks
- Strategic partnership opportunities with CARE9 entities
Talent & Development
- Executive recruitment and search support
- Healthcare sector expertise and advisory
- Board composition and governance support
- Management development and training programs
Investment Governance & Impact Management
Investment Committee
Composition:
- CARE9 CEO (Chair)
- Chief Financial Officer
- Chief Operating Officer
- Chief Medical Officer
- Chief Technology Officer
- External healthcare sector experts
- External financial/investment experts
Responsibilities:
- Portfolio company selection and approval
- Investment sizing and terms determination
- Risk management and mitigation strategies
- Performance monitoring and milestone tracking
- Exit decision-making and execution
Impact Measurement Framework
Key Metrics Tracked:
- Patient Impact: Patients reached, outcomes improved, lives saved
- Healthcare Access: Populations served, geographic coverage, affordability
- Economic Impact: Jobs created, local value added, economic development
- Healthcare System Strengthening: Capacity built, infrastructure developed, workforce trained
- Financial Returns: ROI, IRR, exit multiples, capital efficiency
Reporting:
- Annual impact reports for each investment
- Portfolio-level impact aggregation and reporting
- Investor communication of financial and impact performance
- Third-party impact verification for significant investments
Co-Investment & Partnership Models
Development Finance Institution Partnerships
CARE9 Ventures works with leading DFIs including:
- African Development Bank (AfDB)
- Inter-American Development Bank (IDB)
- World Bank International Finance Corporation (IFC)
- European Investment Bank (EIB)
- EBRD and bilateral development agencies
Co-Investment Structure:
- CARE9 Ventures provides healthcare sector expertise
- DFI provides concessional and commercial capital
- Blended finance structures reducing risk and return requirements
- Alignment on development impact and financial returns
Strategic Investor Partnerships
Healthcare & Life Sciences Investors:
- Strategic investors with complementary expertise
- Healthcare-focused private equity firms
- Global healthcare company corporate venture units
- Family offices focused on healthcare impact
Impact Investors:
- ESG and impact-focused funds
- Emerging market-focused investors
- Healthcare impact investors
- Sustainable development-focused funds
Exit Strategy & Return Expectations
Exit Pathways
Strategic Acquisition
- Sale to larger healthcare company
- Integration with CARE9 operations (internal acquisition)
- Consolidation within healthcare sector
- Timeline: 5-10 years
Secondary Sale
- Sale to other private equity or strategic investors
- Recapitalization with new investor group
- Timeline: 3-7 years for earlier-stage investments
Public Markets
- Initial Public Offering (IPO) for mature, high-growth companies
- Exchange listing in emerging or developed markets
- Timeline: 7-10+ years for significant growth
Recapitalization
- Dividend recapitalization returning capital
- Refinancing with new capital structure
- Time-based milestone exits
Return Expectations
Early Stage: 10-15x over 5-7 years Growth Stage: 4-8x over 5-10 years Late Stage: 2-4x over 3-5 years Portfolio Target: 5-7x gross multiple of invested capital (MOIC)
CARE9 Ventures Leadership
Managing Director
[Investment Leader Name]
- Background: 15+ years healthcare private equity and venture investing
- Experience: Invested in 20+ healthcare companies across emerging markets
- Expertise: Healthcare sector strategy, due diligence, portfolio management
- Education: MBA, Finance background, healthcare industry knowledge
Investment Team
Healthcare Sector Specialists:
- Digital health investor
- Medical device and diagnostics expert
- Pharmaceutical manufacturing specialist
- Healthcare services investor
Financial Experts:
- Financial analysis and modeling
- M&A and exit strategy
- DFI and blended finance structures
Operational Advisors:
- Healthcare operations expertise
- Regulatory and compliance advisory
- Clinical and quality assurance guidance
Contact CARE9 Ventures
Inquiries & Investment Opportunities: ventures@care9.com Managing Director: md-ventures@care9.com Investment Application: invest@care9.com
For Healthcare Founders: Email us with:
- Company overview and mission
- Product/service description
- Market opportunity
- Team background
- Funding requirements and use of capital
For Investors & Partners: Contact ventures team to discuss:
- Co-investment opportunities
- Strategic partnerships
- Syndication participation
- Portfolio company partnerships
Strategic Vision
CARE9 Ventures is committed to:
Healthcare Transformation
- Investing in solutions that fundamentally transform emerging market healthcare
- Building complementary ecosystem of companies and innovations
- Creating network effects across portfolio
Financial Excellence
- Generating strong financial returns for investors
- Building valuable, sustainable healthcare companies
- Creating exit opportunities and strategic value
Social Impact
- Improving healthcare access and outcomes
- Building healthcare workforce capacity
- Supporting country-level health system transformation
Global Leadership
- Becoming the leading healthcare investor focused on emerging markets
- Attracting top talent to healthcare investment
- Influencing sector standards and practices
Articles & Thought Leadership
CARE9 Ventures publishes insights on:
- Emerging market healthcare investment opportunities
- Digital health innovation and deployment
- Healthcare manufacturing and supply chain
- Impact measurement and ESG frameworks
- Blended finance and development impact
Commitment to Partners
CARE9 Ventures is committed to being the healthcare investor of choice for:
- Healthcare Entrepreneurs: Patient capital, operational support, network access
- Institutional Investors: Strong returns, measurable impact, sector expertise
- Development Partners: Aligned mission, emerging market expertise, partnership approach
- Healthcare Institutions: Network of complementary portfolio companies
CARE9 Ventures: Investing in Healthcare’s Future in Emerging Markets