Fund will back 20 early-stage med-tech and digital health startups, targeting 3× MOIC within seven years across Indonesia, Thailand and Vietnam.
SINGAPORE, Sept. 11, 2025 /PRNewswire/ — TVM Capital Healthcare, a global private equity investor and operator specialized in healthcare growth capital across emerging markets, today announced the first closing of its USD 150 million TVM Healthcare Southeast Asia Fund (“SEA Fund”).
The SEA Fund is the third generation of TVM Capital Healthcare funds and builds on the firm’s nearly 40 years of global healthcare investment and operator experience, including over 15 years of scaling healthcare companies across the Middle East and Southeast Asia. TVM Capital Healthcare has a strong track record of creating leading specialty care providers and advancing innovative care models outside of traditional hospital settings that expand access and improve quality of healthcare delivery.
Commitments to the SEA Fund have come from a broad group of leading institutional investors, including cornerstone investor, Invest International, founded by the Dutch government and FMO to support Dutch businesses and international partners with financing solutions that drive sustainable economic growth and create positive social and environmental impact worldwide.
The TVM Healthcare Southeast Asia Fund will focus on underpenetrated market segments where demand is high, but supply remains limited, including but not limited to post-acute and rehabilitation services, women’s health, diabetic and oncology care, and local manufacturing of essential pharmaceuticals. By addressing these urgent needs, the fund reinforces the resilience of healthcare as an investment sector and its fundamental importance to economic and social development.
In addition to scaling local specialty care clinics to become national and regional leaders, TVM Capital Healthcare also strategically invests in healthcare innovators from the US and Europe, directing their expansion into Southeast Asian target markets, as well as building cross-border partnerships such as those it has established with US-based, Harvard-affiliated teaching hospitals and leading European medtech companies — to help accelerate the transfer of proven models of care, advanced medical technologies, and global best practices into local ecosystems.
The firm’s model emphasizes operational partnerships, global accreditations, and robust governance structures, enabling companies to grow as best-in-class businesses and supporting the leapfrogging of emerging market healthcare systems into new standards of care.
Hoda Abou-Jamra, Co-Founder and Managing Partner of Southeast Asia, TVM Capital Healthcare, said:
“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.”
Jannie Tsuei, Partner, TVM Capital Healthcare, added:
“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.”
Eelco Benink, Head of Equity at Invest International, commented:
“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.”
tvmcapitalhealthcare.com
