Bahrain’s $100 million Al Waha Fund of Funds is investing in a US-focused $85 million digital health fund as it looks to tap into the growing American healthcare market. 

The investment of an undisclosed amount in Tel Aviv-based LionBird III fund, which specialises in seed-stage venture capital, is expected to help start-ups in the region enter the healthcare sector in the US, according to a statement on Monday. 

Approximately 17 percent of the US gross domestic product (GDP) is spent on healthcare, around twice as much than most other developed countries.  
Since the pandemic, the market has been undergoing significant shifts that are opening new business opportunities, with digital start-ups in the US alone raising nearly $30 billion in 2021 across 729 deals. 

“There are significant opportunities for the region’s start-ups in international markets, but the lack of access to capital remains a significant challenge for entrepreneurs,” noted Khalid Al Rumaihi, CEO of Mumtalakat and Vice Chairman of Al Waha Fund. 

He said that Al Waha offers state-backed capital to funds, to support entrepreneurs looking to establish and scale their businesses, thus helping accelerate the development of the region’s start-up and venture capital ecosystem. 

(Writing by Cleofe Maceda; editing by Seban Scaria)