Futuregrowth Development Equity Fund (DEF) has committed for the first time in a startup— Impulse Biomedical — in the pre-seed phase, which does not yet generate income, but whose solutions and services could “revolutionize the technologies of health in South Africa.”
Here Is What You Need To Know
- The vehicle managed by South African investment firm Futuregrowth did not disclose the amount invested in Impulse Biomedical, a biomedical engineering platform headquartered in South Africa.
“While we normally focus on late stage venture capital investments, Impulse Biomedical is an exception. We salute its revolutionary technology and products which, together with its founding team, give us confidence that this investment will grow ever larger, ”commented Amrish Narrandes, Head of Unlisted Asset Transactions at Futuregrowth.
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- Healthcare technology is one of the priority areas for investment at Futuregrowth. In a note published earlier this year, the firm said it will target sectors with attractive investment opportunities, such as energy and technology, during 2021.
- Impulse Biomedical will bring to market by April 2023, two medical devices that will provide relief to asthma patients and help patients allergic to foreign substances.
- With the covid-19 crisis, digital-backed health solutions are increasingly attracting the interest of investors on the continent.
- Over the past three months, North Africa has attracted international donors who have funded and acquired significant shares in hospitals and health care centers.
- Futuregrowth makes investments from its Futuregrowth Development Equity Fund, a venture capital fund devoted to supporting disruptive businesses and propositions that show strong high growth potential. Futuregrowth just recently, in 2020, invested in SweepSouth.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer