Cross-Border Impact Ventures (CBIV) has announced the final closing of its first fund after exceeding $90 million in investor commitments. The Women’s and Children’s Health Technology Fund focuses on investments in technology companies that address the health needs of women, children, and adolescents or make health systems more resilient.
The extensive list of new limited partners (LPs) in the Fund includes:
1.) KfW (a German state-owned financial institution) investing capital on behalf of BMZ – which is Germany’s Federal Ministry for Economic Cooperation and Development
2.) Many high-profile international investment funds, including UK-based M&G’s Catalyst – a £5 billion purpose-led private assets strategy that invests in innovative solutions to some of the world’s largest environmental and social challenges
3.) Impact investment Fund of Funds managed by Wire Group, a Netherlands-based specialist in impact investing and wealth allocation
4.) Family offices that were advised by prominent CBIV partners (Ellevest, Align Impact, and CapShift)
6.) Family offices that have invested directly in the Fund, such as Ceniarth, Skoll Foundation with their OCIO Capricorn Investment Group, and The Nathan Cummings Foundation with their OCIO Bivium Westfuller
7.) Foundations include the Fondation du Grand Montréal, Guy’s & St Thomas’ Foundation, and the McConnell Foundation
The new LPs in the Fund join previously announced investors, including Children’s Investment Fund Foundation, Global Health Investment Corporation, Hamilton Community Foundation, Grand Challenges Canada, J&J Impact Ventures (an impact fund within the Johnson & Johnson Foundation), Rally Total Impact Fund and some Rally Assets’ advised clients, and The RockCreek Group and its partners. This Fund also benefits from a guarantee provided by the Swedish International Development Cooperation Agency (SIDA).
CBIV invests in health technology companies with global growth, high return, and impact potential. And its primary focus is on medical device, diagnostic, and digital health companies based in North America and Europe that are globally relevant, including in emerging markets. The target investments include healthcare software companies with $1 million to $10 million in revenue and companies developing technologies that require regulatory approval and have at least one CE Mark or FDA approved product. The Fund also uses a gender lens to invest and will work with portfolio companies to improve their diversity and ensure products reach a broader audience.
Portfolio Companies
Since CBIV’s launch in December 2021, the firm made five investments in the following companies:
1.) Pendulum – A health infrastructure software company using AI/ML to solve supply chain inefficiencies for essential medicines
2.) Daye – A comprehensive gynecological care-as-a-service platform combining scientifically validated commercial menstruation products with an innovative tampon-based diagnostic platform testing for conditions such as HPV, which is critical to reducing mortality from cervical cancer
3.) mOm Incubators, a medical device company that has created an innovative portable incubator for neonatal care as their flagship product
4.) Sonio, an AI-enabled software company that provides Fetal Ultrasound Practitioners with SaaS products that identify pregnancy complications and fetal anomalies and diagnose common and rare syndromes;
5.) OncoLens is a digital health platform company that provides innovative oncology care management solutions to cancer patients and healthcare providers, allowing patients to be treated within their communities.
KEY QUOTES:
“Our current portfolio has the potential to make a difference in the lives of millions of women, children, and adolescents in North America and Europe, in addition to targeting underserved populations in emerging markets. Our fundraising success proves that there is a large pool of investors that believes they can earn market returns while achieving ambitious impact targets with their dollars.”
— Annie Thériault, Managing Partner at CBIV
“Our unique expertise in investing in MedTech and HealthTech companies focused on women’s, children’s, and adolescents’ health along with our impact approach is sought after by pipeline companies. We bring in industry and clinical experts from our international network to unlock growth and impact. We are building a portfolio of investments that we know is of interest to strategic acquirers.”
— Donna Parr, Managing Partner at CBIV
