TORONTO– Cross-Border Impact Ventures (CBIV) today announced the launch of the firm and its Women’s and Children’s Health Technology Fund, which will invest in health technology companies that address the health needs of women, children, and adolescents or make health systems more resilient. CBIV has US$30 million in commitments towards an ultimate fund size of more than US$100 million and anticipates making its first investments in Q1 2022.
The following investors are among the Limited Partners (LPs) in the CBIV Women’s and Children’s Health Technology Fund:
- Children’s Investment Fund Foundation (CIFF), a philanthropic organization focused on transforming the lives of children and adolescents.
- Global Health Investment Corporation (GHIC), a non-profit organization catalyzing the development of technologies to improve health worldwide. GHIC is investing in the Women’s and Children’s Health Technology Fund with the financial support of the German government through its KfW Development Bank.
- Grand Challenges Canada (GCC), a Canadian not-for-profit organization that invests in local innovations that address critical global health, humanitarian, and Indigenous community challenges in Canada and low-resource countries.
- Hamilton Community Foundation, a public foundation whose activities include investing in organizations that create positive impact beyond financial returns.
- Rally Total Impact Fund, a multi-asset class impact investment fund that uses capital to generate financial returns and create positive social and environmental impact.
- RockCreek, a leading global investment firm that applies data-driven technology and innovation to create long-term value.
CBIV also has the support of a strategic healthcare investor, as well as Sida – the Swedish International Development Cooperation Agency, which provides a guarantee to investors in the fund to encourage private sector participation in the firm’s impact investing strategy.
CBIV will invest in health technology companies with global growth, high return, and impact potential. Its primary focus is on medical device, diagnostic, and digital health companies based in North America, Europe, and Israel. Its secondary focus is on commercial stage companies in emerging markets with global technology transfer potential. Target investments include healthcare software companies with $1MM – $10MM in revenue, as well as companies developing technology that requires regulatory approval and have at least one product that is CE Mark or FDA approved. The fund will use a gender lens to invest and will work with portfolio companies to improve their diversity and ensure products meet the needs of more users of diverse backgrounds.
In addition to sourcing deals, undertaking due diligence, making investments, and working at the board level to support company growth and exit opportunities, CBIV will also target, measure, monitor, and report on impact in terms of health outcomes. CBIV has set an ambitious impact target across its portfolio companies of 500,000 lives saved and improvements in the lives of 10 million underserved women and children in emerging markets.
As an Impact Fund, CBIV is working towards SFDR Article 9 compliance in Europe, and will be signing on to the UN-developed framework for the Principles for Responsible Investment and the International Finance Corporation’s (IFC) Operating Principles for Impact Management.
“We launched Cross-Border Impact Ventures based on the idea that borders should not dictate who gets access to the best health technologies,” said Annie Thériault, Managing Partner at CBIV. “Our firm will play an important role in the health technology market by investing in companies that are creating innovations that have the potential to save lives or transform healthcare in North America, Europe, emerging markets, and underserved populations. This includes healthcare tools that are easier to use, provide greater precision, and can rapidly deliver diagnostics.”
“Over the next decade, we expect trillions of dollars to be allocated to impact investing given its potential to drive tangible change,” said Donna Parr, Managing Partner at CBIV. “The timing could not be better for us to launch our impact fund, which has already attracted interest from investors in global markets that are looking to make a difference in the world while seeking venture returns.”
