Investment Fund for Health in Africa

IFHA invests exclusively in private healthcare businesses across sub-Saharan Africa. The firm targets healthcare delivery, pharmaceuticals, medical devices and health-tech across markets including Kenya, Nigeria, Tanzania, South Africa and Ghana. It does not invest outside the healthcare sector or outside sub-Saharan Africa.

Managing Partner Max Coppoolse, one of the firm's co-founders, leads the investment committee alongside senior partners based in Amsterdam and Nairobi. The firm maintains a flat decision-making structure designed for the small-to-mid-cap deal size it typically pursues.

IFHA pursues growth equity, targeting established private healthcare companies that require expansion capital rather than seed or venture-stage risk. The typical investment falls between USD 5 million and USD 15 million per transaction, aimed at companies with proven revenue models and unit-level profitability.

IFHA is a dedicated private equity fund manager with a European-domiciled fund structure and on-the-ground operating partners in Nairobi. This combination allows it to meet the governance and reporting standards institutional limited partners require while navigating local currency, regulatory and operational realities in its target African markets.

The firm's investor base mixes development-finance institutions — such as FMO, the Dutch development bank, and the African Development Bank — with European family offices and institutional allocators. No single LP family or wealth origin dominates the fund.