The latest news on investment offerings, financial products and other services relevant to wealth advisors and their clients.

HEAL Partners
HEAL Partners, an Australia-based investment firm concentrating on health, education and lifestyle sectors, has held the final closing of HEAL Fund I at A$200 million ($143 million), double its initial target. It has also launched its $350 to 500 million HEAL Fund II.

Dr Jeremy Lim, director of global health at the National University of Singapore Saw Swee Hock School of Public Health, has joined HEAL’s strategic advisory committee, the firm said in a statement yesterday.

So far, HEAL Fund 1 has put A$170 million of its war chest to work, across nine investments. The capital deployment  includes co-leading a $15 million Series A round in Us2.ai, a Singapore-based medtech firm that uses artificial intelligence to automate reading echocardiograms, alongside IHH Healthcare in the second quarter of 2022. 

The remaining capital in Fund I is reserved for deployment into the best follow-on opportunities in the existing portfolio. HEAL launched Fund I in August 2020 with three cornerstone investments, demonstrating the calibre of high growth opportunities available to the fund – Edge Early Learning Centres (Australia), Removery (Tattoo removal, USA) and Fertility Partners (IVF, Canada) – and has made six further investments across the US, Australia and Asia since then.

The first closing of the second of the two funds is expected in the first half of 2023.