Australia-headquartered investment firm HEAL Partners is seeking to raise a A$100 million ($71.7 million) debut fund to back startups in the health, education and lifestyle sectors in both growth and follow-on funding stages.
The fund is targeting to reach its first close in the coming weeks and hit the final close in six to nine months, per a statement.
Following the fundraising, the vehicle will prioritise deployments in businesses founded by the HEAL team including Australia’s Edge Early Learning Centers, US-based tattoo removal service Removery and Canadian IVF business Fertility Partners.
Recently, the company also invested an undisclosed sum in Indonesia’s healthtech platform Halodoc.
HEAL Partners fund is looking to invest anywhere from $5 million to up to $30 million per deal.
According to HEAL partner Martin Robinson, the fund is seeking to capitalise on the seismic shifts underway across the three sectors.
“Technology, an ageing population and growing demand for higher quality health and education outcomes are driving emerging niche specialties,” he added.
HEAL Partners is an early or mid-stage growth acceleration investment vehicle focused on revenue-generating growth businesses with the potential for global scale or industry disruption.
HEAL’s partners and investment committee members include Mark Evans and Chris Chambers from Normanby Capital, Peter Chapman and Martin Dalgleish from Asia Principal Capital and Martin Robinson.
Normanby’s and APC’s principals have previously founded and operated various health, education and lifestyle growth assets, including Kids Campus, DentalCorp, DentalCorp Canada, Edge Early Learning, Removery and Fertility Partners.
Martin Robinson (formerly Macquarie Capital) brings a wealth of experience in acquiring and managing health assets having spent the last 16 years in Asia, including recently as executive chairman of Vietnam’s largest private hospital group (Hoan My Medical Corporation), and an early investor and former board director in Halodoc, per the statement.