TVM Capital Healthcare, a global private equity firm focused on healthcare growth in emerging markets, has announced the first closing of its $150 million Southeast Asia Fund (SEA Fund). This marks the third generation of funds managed by the firm and builds on nearly four decades of experience investing in and operating healthcare businesses around the world. Over the past 15 years, TVM Capital Healthcare has played a key role in scaling healthcare companies across the Middle East and Southeast Asia, with a strong emphasis on innovation and expanding access to care beyond traditional hospital settings.
The SEA Fund has attracted commitments from a diverse group of institutional investors. Among them is cornerstone investor Invest International, an organization established by the Dutch government and FMO to support sustainable economic growth and positive social impact through international partnerships. The fund is designed to target underserved segments of the healthcare market where demand is high but supply remains limited. These areas include post-acute and rehabilitation services, women’s health, diabetes and oncology care, and local pharmaceutical manufacturing.
TVM Capital Healthcare’s strategy goes beyond simply investing in local providers. The firm also works with healthcare innovators from the United States and Europe, helping them expand into Southeast Asian markets. Cross-border collaborations with institutions such as Harvard-affiliated teaching hospitals and leading European medtech companies support these efforts. Through these partnerships, TVM aims to introduce advanced medical technologies and proven care models into local ecosystems, thereby improving outcomes and raising the standards of care.
KEY QUOTES:
“This first close marks an important step in supporting Southeast Asia’s healthcare ecosystem and entrepreneurs. By combining capital with operational expertise and introducing proven healthcare models from around the world, we are helping to create companies that can lead nationally and regionally, improve access to quality care, and contribute to building sustainable healthcare systems.”
Hoda Abou-Jamra, Co-Founder and Managing Partner of Southeast Asia, TVM Capital Healthcare
“We see a unique opportunity in Southeast Asia’s healthcare sector, particularly in specialty care and medical manufacturing. With our investment strategy that combines local growth with international expansion, we can help companies scale into institutional-quality leaders delivering impactful healthcare outcomes.”
Jannie Tsuei, Partner, TVM Capital Healthcare
“Robust and equitable health care systems ensure that economies can become and remain resilient. Invest International is proud to anchor TVM Capital Healthcare’s SEA Fund. Its strategy — delivering accessible, quality healthcare while ensuring strong ESG performance — aligns with our mission to create sustainable impact by linking local companies to global solutions. Together, we will help build healthcare infrastructure that benefits patients and supports long-term development.”
Eelco Benink, Head of Equity at Invest International
