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AGF Magazine - April 2019 issue

  • In a region where only a minority of the population has access to a bank account and SMEs struggle to get financial help from traditional banks, Albert Alsina, CEO and Founder of Mediterrania Capital Partners, explains how the PE industry is becoming a catalyst for the African Fintech ecosystem’s development, enabling large-scale banking and supporting entrepreneurs and SMEs in their expansion plans (pp. 10-12).
  • In this month’s issue of Africa Global Funds, we also caught up with Kenneth Kaniu, Britam Asset Managers CEO, to learn about their anchor investment in Tiserin Capital, and the needs and constraints of institutional investors in Kenya and East Africa (pp. 14-15).
  • On the infrastructure front, we hear from Moritz Breickmann, Investment Director at African Infrastructure Investment Managers (AIIM) who showcases some successful airport redevelopments in Africa. Read on to find why airport infrastructure projects on the continent can provide attractive long term returns to investors (p.17).
  • In this month’s issue we also learn that the FTIF Templeton Africa Fund was merged into the FTIF Templeton Frontier Markets Fund. We speak with Ahmed Awny and David Haglund about the Fund and its African investments (p.16).
  • Finally, Rob Childs, Head of International for Prescient Fund Services shares his views on the global distribution challenges facing African fund managers and why the firm decided to domicile their offshore fund range in Ireland (p. 22).
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News > Private Equity > Deals

The Rise Fund leads $5m investment in SystemOne

Anna Lyudvig
Oct. 23, 2018, 9:36 p.m.

Word count: 409

The Rise Fund, a global impact investment fund managed by TPG Growth, has led a $5m Series A investment in SystemOne, an IT provider of solutions for disease surveillance and response.

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The Rise Fund, a global impact investment fund managed by TPG Growth, has led a $5m Series A investment in SystemOne, an IT provider of solutions for disease surveillance and response.

Also participating in the round were EchoVC, B&Y Venture Capital Partners and strategic angel investors. 

EchoVC’s Eghosa Omoigui has joined SystemOne’s board of directors.

SystemOne’s platforms, GxAlert and Aspect, connect over 2000 diagnostic devices in over 40 countries, including Nigeria and Kenya.

Since its inception, SystemOne’s platforms have automatically transmitted over 5 million diagnostic results, device performance data, and aggregate disease information to clinicians, healthcare ministries, and patients around the world. 

Instant notifications and up-to-date dashboards provide over 50,000 alerts/month about test results, disease trends, device functionality, error rates and more.

“Information technology will fuel the next leap forward in stopping the most entrenched and crippling infectious diseases across the globe,” said Chris Macek, CEO of SystemOne. 

“Rapid and accurate movement of data will make global investments more effective, ensuring that health providers know where and when infectious diseases are happening, can get patients onto treatment and monitor outcomes.”

Before SystemOne, diagnostic results could take up to several months to reach health officials and patients. 

SystemOne’s technology connects any diagnostic device for any disease, moving results in real-time and providing health officials a single line of sight into the disease burden in their geographies. 

The investment was sourced through TPG Growth’s strategic relationship with EchoVC Partners, and Africa-focused seed and early-stage venture capital fund that targets early to growth-stage deals in the technology sector. This follows earlier investments in companies such as Frontier Car Group and Gro Intelligence.

The investment in SystemOne will help the company accelerate linking positive diagnoses to treatment and eventually to outcome, playing a critical role in meeting and measuring international targets for TB and HIV.

In diseases such as HIV and TB, where global funders spend $26 billion annually, such line of sight plays a critical role in optimizing investments and efforts for maximum benefit.

“We’re very excited to partner with SystemOne, to help advance innovative solutions that can bring us towards the global goal of ending tuberculosis and HIV,” said Yemi Lalude, Partner at TPG Growth. 

“The company’s focus on reducing time to treatment and closing the gaps between diagnosis and treatment – and treatment adherence – can help create significant social impact and drive economic progress in countries where HIV and TB are prevalent.”

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