We invested in the fund alongside a coalition of conventional and catalytic investors, including traditional asset managers, multinational biopharmaceutical companies, and other development finance institutions, with the aim of investing in healthcare solutions for those who need it most.
Improve healthcare outcomes, reducing global maternal mortality rates (SDG 3.1); prevent deaths of new-borns and children under 5 (3.2); end the epidemics of AIDS, tuberculosis, malaria and neglected diseases and combat hepatitis, waterborne and communicable diseases (3.3).
Direct: The Adjuvant Global Health Technology Fund will invest in late-stage technologies that address underfinanced healthcare challenges in low and middle-income countries. The fund will primarily target investees that are at the mid- to late-stage of the research and development process and require Adjuvant’s capital and expertise to receive regulatory approval, to scale production and to secure routes-to-market.
Catalytic: Lack of track record in funding research and development in disease areas applicable to low and middle income markets and uncertain returns are preventing the market from developing. The fund can help prove the commercial case for investing in these areas and mobilise more capital in this underfinanced sector.
|Customers (in many cases, these will not be paying customers but rather recipients of international/aid programmes)||
Primarily low and middle-income countries. Some technologies will have dual use applications, but the Global Access Commitments mean that marketing and distribution must include low-income and lower-middle income countries.
Very often, low/very low income and beneficiaries of humanitarian/aid programmes. Global Access Commitments give us comfort that the pricing will be affordable to lower-middle income populations. Given the important focus on maternal mortality, we expect a large number of customers to be women.
This investment is made under an approved Catalyst Strategy, and therefore does not require a grid score.
To help us direct our investments, we use a tool called the Development Impact Grid. The Grid scores every investment we plan out of a score of four, based on two factors: the difficulty of investing in the country and whether investment in that sector will lead to jobs.
Financial: Our commitment will increase the scale of the overall impact.
Environmental and social aspects
We are working closely with the fund manager to improve its existing environmental and social management system (ESMS), including delivering an action plan.
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- Rest of the World
- Investment type
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund manager:
- Adjuvant Capital
- Start date
For direct investments, this is the date CDC committed capital to the business or project.
For funds, this is the date that CDC committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- December 2020
For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).
For funds, this is the total amount that CDC has committed to the fund.
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
- Cayman Islands