Alta Semper Capital
32 Curzon Street, London, W1J 7WS, United Kingdom
Overview
Alta Semper, a private equity manager investing flexible and strategic capital across select African growth markets, announced today a partnership with Nigeria’s leading retail pharmacy chain HealthPlus. Under the terms of the agreement, Alta Semper is investing US$18 million into HealthPlus, which will enable the company to expand its retail footprint and enhance its competitive position. Alta Semper specifically invests into market-leading businesses in defensive sub-sectors within the consumer and healthcare verticals. The healthcare and retail markets in Nigeria are characterised by growing demand, driven by favourable demographics, increased consumer awareness and evolving consumption patterns. Furthermore, Nigeria is home to one of the least penetrated formal retail markets in the world, despite its large and growing population. The retail pharmacy sector is highly fragmented, with many independent drug stores and several patent medicine outlets. Furthermore, given structural challenges with the industry supply chain, counterfeit pharmaceuticals find their way into over forty percent of the retail market, while most wholesale and retail sales across the country are still made through informal markets. Moreover, much of the healthcare infrastructure is confined to major cities, with people living in urban areas having approximately four times as much access to healthcare as those living in rural areas.
- Total investments
- 1
- Lead investments
- 1
- Investments · 12mo
- 0
- Active investors
- 1
Sector focus
- Financial Services
- Social Impact
- Venture Capital
Investment portfolio
- Mydawa
Led · Equity · Jul 2023
MyDawa, launched in 2016 in Kenya, began as an e-pharmacy and has diversified into online and in-person consultations as well as laboratory services. It operates an expanding network of walk-in pharmacies and health centers and has introduced its own branded products. The company plans to open up its technology infrastructure — from telehealth to fulfillment — to help other businesses in the health sector scale. MyDawa says it has inked deals with some of Kenya’s biggest clinic chains and is pursuing regional expansion through acquisitions and collaborations. It has acquired Uganda’s Guardian Health as part of that expansion and intends further deals to grow beyond Kenya. Financially, MyDawa previously raised $3 million from AAIC’s Africa Healthcare Fund in 2019 and received a $1.2 million grant from the Bill & Melinda Gates Foundation; it has now secured $20 million from Alta Semper Capital to fund growth. MYDAWA is a Kenyan e-health e-pharmacy that enables users to obtain authentic, high-quality medicines, health and wellness goods through relationships with healthcare practitioners and suppliers. Its platform delivers virtual, discreet, and convenient services, and the company is adapting its model to expand online delivery of PrEP to reduce stigma and broaden reach. CEO Tony Wood said MYDAWA will offer a seamless end-to-end customer-centered delivery solution for anyone needing PrEP across the country. Over 80,000 people have joined the platform. Financially, MYDAWA recently received a US$1.2 million grant from the Bill & Melinda Gates Foundation and previously obtained US$3 million from the Africa HealthCare Master Fund to accelerate nationwide expansion. It plans to build and evaluate the PrEP delivery model with partners including the University of Washington, Jomo Kenyatta University of Agriculture and Technology, Fred Hutchinson Cancer Research Center, Jhpiego, and Audere to generate evidence for policy change and donor support.
Team
Afsane Jetha
Co-Founder, Managing Partner & Chief Executive Officer
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