Medical Credit Fund has wrapped up an initial fundraise for its second fund, the only debt fund fully dedicated to financing SMEs operating in Africa’s healthcare sector. In total, the fund has raised €32.5 million (or approximately $36.75 million) from development finance providers and Philips, the Netherlands-based multinational conglomerate. Eventually, the fund aims to grow to €80 million (or $90 million) in size over the next few years.
Medical Credit Fund II (MCF II) was initially anchored with €7.5 million by the Dutch Ministry of Foreign Affairs in January 2021, since when it has raised another €25 million. This is made up of a commitment of €10 million from Britain’s CDC Group, €7.5 million from Dutch development bank, FMO, €5 million from Swedfund in addition to €2.5 million from Philips.
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