ADI Advances Gender-Lens Healthcare Investing in Southeast Asia with Up to US$8 Million Commitment in TVM Capital Healthcare
Image source: TVM Capital Healthcare / Alina Vision. An eye examination at Alina Vision, a portfolio company of TVM Capital Healthcare in Southeast Asia.
Australian Development Investments (ADI) has committed up to US$8 million in TVM Capital Healthcare Southeast Asia Fund (SEA Fund) a female-led, mid-market growth fund focused on healthcare investments across Southeast Asia.
The commitment, delivered through ADI’s Investing in Women investment window, reflects ADI’s focus on backing women-led and gender-intentional fund managers, while adding a specialist healthcare strategy to its portfolio.
Why healthcare matters
Healthcare remains one of the most powerful levers for advancing gender equality outcomes across Southeast Asia. Women and girls are disproportionately affected by gaps in access, affordability, and quality of care, particularly in areas such as maternal health, reproductive services, diagnostics, and vision care. As demand for quality healthcare continues to grow across the region, there is a clear need for additional capital to support businesses that expand access, improve service delivery, and respond to women’s evolving health needs.
This commitment deepens ADI’s healthcare exposure in Southeast Asia, recognising that improved health outcomes are foundational to women’s economic participation, educational attainment, and long‑term wellbeing. Investing in healthcare systems that effectively serve women not only addresses critical service gaps but also helps reduce structural inequalities that limit women’s opportunities.
The commitment also aligns with the Australian Government’s Invested: Southeast Asia Economic Strategy to 2040, which recognises healthcare as a priority sector for strengthening economic ties and supporting sustainable growth across Southeast Asia.
Why TVM Capital Healthcare
TVM Capital’s SEA Fund integrates a targeted healthcare strategy in Southeast Asia with a strong gender‑lens investing approach.
The SEA Fund has formalised a comprehensive gender‑lens investing strategy, including a dedicated gender screening and scoring tool and gender gap assessments. Gender considerations are systematically integrated throughout the investment cycle, and the fund is fully 2X‑aligned.
The fund reinforces ADI’s focus on partnering with women-led and gender-intentional managers to increase access to capital and strengthen outcomes for women in Southeast Asia. Supporting managers with this focus is an important part of building more inclusive investment markets in the region.
The commitment also adds a specialist healthcare strategy to ADI’s existing gender lens investing work. In doing so, it broadens the range of sectors and fund managers through which ADI can support women’s economic empowerment and inclusive growth.
Beyond the investment
As TVM Capital’s SEA Fund builds its Southeast Asia platform, ADI is committed to supporting its growth through targeted engagement and tailored technical assistance. This support will be focused on further strengthening the fund’s gender‑lens and impact systems through technical assistance focused on target-setting, measurement, reporting and providing portfolio company level.
This approach reflects ADI’s broader model of partnership with fund managers. In addition to providing capital, ADI provides practical support that strengthens investment and impact systems, supports long‑term fund and portfolio performance, and enhances the quality and durability of development outcomes.
From Michelle O’Byrne, Australia’s Ambassador for Gender Equality:
“Through Australian Development Investments and the Investing in Women program, Australia is demonstrating leadership in gender lens investing by mobilising private capital to deliver inclusive growth and measurable gender equality outcomes across Southeast Asia.”
From Hannah Birdsey, CEO of Investing in Women:
“We know from recent research by the Global Impact Investing Network supported by Investing in Women that the gender gap persists in healthcare entrepreneurship and investment. We welcome this investment in the TVM Capital SEA Fund – providing capital to scale healthcare services and innovations developed for and by women, thereby reducing barriers to economic opportunity for women.”
From Hoda Abou-Jamra, Co-Founder and Managing Partner of TVM Capital Healthcare:
“Gender-lens investing has been a part of our DNA from day one—not as a theme, but as a business imperative. As an investor-operator, we see firsthand that women represent half of patients and drive most healthcare decisions for the family; consequently, it’s key women are in decision-making roles at healthcare companies. Furthermore, women remain underserved by the healthcare industry and there’s tremendous untapped opportunity in Southeast Asia. This is a case where creating better outcomes intersects with compelling growth opportunities.”
As healthcare needs continue to grow across the region, commitments like this can help direct capital towards businesses that improve access to care, strengthen local health systems, and support better outcomes for women.
For more information about ADI and its investment initiatives, please visit ADI’s website.
For more information about the Investing in Women initiative, please visit the IW website.