Dubai’s Alkhair Capital has unveiled a $100 million fund dedicated to investing in healthcare technology startups, aiming to expand its investment portfolio. This Sharia-compliant investment fund, domiciled in the Dubai International Financial Centre, will focus on companies using cutting-edge artificial intelligence to enhance healthcare services. It’s designed as an open-ended fund, providing financial support to these firms to foster their growth.

The healthcare sector in the UAE and the broader GCC region is undergoing significant growth, driven by factors such as an aging population, increased life expectancy, and a rise in lifestyle-related diseases. Alkhair Capital’s CEO, Naveed Aurakzai, highlighted that liquidity challenges, particularly in processing medical claims, have hampered the profitability and expansion of healthcare facilities in the region. The new investment fund aims to address these challenges, with the healthcare sector in the GCC alone estimated to spend $100 billion.

This initiative comes at a time when healthcare technology is attracting substantial global investment, with over $29 billion invested in health tech companies in 2021. Alkhair Capital has partnered with Klaim Technologies, a FinTech specializing in AI-powered solutions for insurance claim assessments, as part of its proactive investment strategy. The fund seeks to strike a balance between meeting liquidity needs and achieving favorable returns, contributing to the continued growth of the healthcare sector in the region.