Alta Semper secures USD 57.5 million from EIB Group and IFC for Growth Fund II to expand healthcare access across Africa
Alta Semper Capital LLP, a London-based private equity firm focused on healthcare and consumer investments in high-growth markets, has secured USD 57.5 million in commitments for its Alta Semper Growth Fund II. The funding comes from a consortium led by the European Investment Bank (EIB) Group and the International Finance Corporation (IFC), marking a major milestone in the fund’s fundraising journey.
The commitments were formalised during a signing ceremony held at a government ministry in Cairo. The EIB Group, which includes the European Investment Bank and the European Investment Fund, committed USD 37.5 million, while the IFC invested USD 20 million. The partnership underscores strong institutional backing for Alta Semper’s investment strategy and long-term vision.
Alta Semper Growth Fund II is targeting a total fund size of USD 150 million. The fund focuses on scaling market-leading healthcare and consumer businesses that improve access to affordable, high-quality products and services across Africa and selected growth markets. Key areas of investment include primary care, preventative medicine, diagnostics, medical devices, digital health, consumer wellness platforms, and disruptive healthcare technologies.
The EIB’s participation aligns with the EU-Africa Global Gateway Investment Package and the EU Global Health Strategy, both of which aim to strengthen resilient health systems and regional manufacturing capacity. Meanwhile, the IFC’s commitment builds on its long-standing relationship with Alta Semper, having previously served as an anchor investor in Alta Semper Fund I, reflecting a shared mandate to promote private-sector development, job creation, and health equity in emerging markets.
The signing ceremony was also attended by MSMEDA, Egypt’s Micro, Small and Medium Enterprise Development Agency, which is expected to conclude its participation in the fund in the coming months. MSMEDA’s involvement supports the growth of medium-sized enterprises, particularly in the healthcare and consumer sectors, and is expected to facilitate job creation within Egypt.
Together, these commitments will provide long-term patient capital to high-impact businesses across the Middle East, North Africa, and Sub-Saharan Africa. The fund aims to contribute to inclusive economic growth, strengthen local supply chains, uphold strong environmental, social, and governance (ESG) standards, and support thousands of jobs across its portfolio.
Alta Semper has already begun deploying capital from Growth Fund II into high-impact investments, including MYDAWA, East Africa’s leading digital health platform, and Allmed Group, a global medical device company specialising in blood purification and renal care solutions.
Commenting on the announcement, Afsane Jetha, Managing Partner and CEO of Alta Semper, said the commitments from the EIB Group and IFC represent a strong endorsement of the firm’s strategy and track record. She added that the partnerships will enhance Alta Semper’s ability to scale healthcare and consumer businesses, accelerate technology adoption, and deliver meaningful outcomes for communities while generating sustainable returns for investors.
