The challenge

Private healthcare SMEs deliver about half of sub-Saharan Africa’s healthcare. Yet most stall at the growth stage, trapped in the “valley of death” between grant funding and commercial investment.  

Without financing, and without investment-oriented technical assistance, they cannot expand. Companies with the potential for scale stay small. Communities stay underserved.  

The opportunity

BillionScale Health is launching the Multiply Health Fund in partnership with Villgro Africa, a leading healthcare incubator and impact investor. Together, we are building a blended finance vehicle designed to unlock both catalytic and commercial capital for scalable healthcare businesses. 

The fund combines BillionScale Health’s expertise in capital structuring, deployment and investor relations with Villgro’s deep venture-building and ecosystem experience. The William Davidson Institute is the fund’s Learning and Impact Partner. 

Multiplying catalytic capital

The Multiply Health Fund is designed to crowd private capital into a sector where it is urgently needed. It will build a pipeline of healthcare enterprises capable of attracting sustained private investment across Africa.  

To attract return-seeking investors, the fund combines risk-sharing instruments, flexible capital and tailored technical assistance. In its pilot phase, the fund aims to raise $3.5 million in catalytic capital to unlock $8.5 million in commercial capital.