Singapore: Singapore-based healthcare and technology investor August Global Partners has closed its flagship healthcare fund at $150 million, bringing total assets under management to $350 million, the firm said on Tuesday.
Asia’s healthcare market is projected to reach about $5 trillion by 2030, contributing 40% of global growth, according to Boston Consulting Group. The surge is driven by aging populations, rising affluence and rapid adoption of technology and AI across the region.
The AGP Healthcare Fund, launched in 2024, beat fundraising targets despite difficult global private equity conditions, it said in the statement. It secured investors from Asia, Europe and North America, including financial, institutional and strategic backers. The fund targets health technology, precision medicine and digital health, and has already invested in Vietnam’s Gene Solutions, a genomics and diagnostics company, and Ultragreen.ai , a medical imaging and fluorescence-guided surgery company that is due to debut on the Singapore bourse on December 3.
Founded by former Singapore Economic Development Board Investments executives Chu Swee Yeok and Basil Lui, who helped shape the city-state’s biomedical investment strategy, AGP backs growth-stage healthcare and technology firms addressing preventive health, aging and chronic disease management.
“The convergence of medical technology, digital health, AI, and Asia’s demographic transformation presents unprecedented opportunities for innovation and growth,” Lui said.
(Reporting by Yantoultra Ngui Editing by Tomasz Janowski)
