During the past seven years, Villgro Africa has invested approximately $1.36 million (Sh171.4 million) in 36 Kenyan healthcare firms. As part of its regional growth, the company wants to open a Biotech Innovation Hub.The impact investor and incubator intend to make these initiatives public.
Since its inception, Villgro Africa has made it possible for those at the bottom of the pyramid to get healthcare. According to Wilfred Njagi, co-founder and CEO of Villgro Africa, the company has gradually invested seed money in social entrepreneurs that have domestic solutions to Africa’s healthcare and lifestyle problems over the past seven years.
These businesses have so far brought in about $5.2 million (Sh655.2 million) in revenue, produced 540 jobs, and affected more over two million lives.
According to the Impact Report, Villgro Africa committed $2.14 million (Sh269.6 million) in total investments over the past seven years, of which $1.36 million (Sh171 million) went to Kenyan entrepreneurs.
In order to accelerate the development of medicines, vaccines, and diagnostics for the control and eradication of diseases related to poverty, rare diseases, neglected tropical diseases, and NCDs, Njagi said.
According to Robert Karanja, co-founder of Villgro Africa and its chief innovation officer, there are numerous prospects for startups and investors in the local manufacturing of medical products.
Villgro Africa is aiming to build an incubator-fund platform in collaboration with Jaza Rift Fund with a goal fund size of $30 million (Sh3.8 billion) to help entrepreneurs who graduate from the incubator in order to make this a reality.
Drop Access, a company that creates mobile, solar-powered smart fridges that can be put on bikes to distribute vaccinations and other medical supplies, is one of the notable companies in which Villgro Africa has invested. Others include the home healthcare provider Bena Care and the innovative wound care and theatre textile manufacturing company Negus Med.
Rob Beyer, co-founder and executive chairman of Villgro, said, “As we celebrate seven years of growth and impact, we are grateful for a pipeline of quality firms, for funders who believe in the vision, for our board members and mentors who freely give of their time and expertise, and for our clients who entrust their plans to our team.