WHO Foundation Backs Japan’s Triple I Initiative
Pictured FLTR: Mr. Itsik Francis, Ms. Ai Tanaka, Mr. Anil Soni, Mr. Hideo Suzuki, Ms. Geetha Tharmaratnam, Ms. Yoshiko Okamoto, and Mr. Satoshi Miura. Credit: WHO Foundation
Tokyo, 5 August 2024 ‒ The WHO Foundation today joined the Japanese government’s push to mobilize greater investment in healthcare in low- and middle-income countries.
The WHO Foundation’s CEO Anil Soni and Impact Investment Chief Geetha Tharmaratnam joined Cabinet Ambassador Mr. Hideo Suzuki in Tokyo as partners in the government’s Impact Investment Initiative for Global Health, known as Triple I.
The aim of Triple I, launched during Japan’s G7 presidency in 2023, is to improve world health by raising the profile of impact investment in global health, building up a community of expertise in impact investment and brokering networking opportunities.
Mr. Suzuki, Ambassador for Global Health, government of Japan said: “Triple I partners are called on to demonstrate their support for impact investing to address global health issues in LMICs. The WHO Foundation is committed to improving health equity with the help of private capital and we welcome them as a valued partner, whose mission aligns clearly with the aims of this initiative.”
The Geneva-based WHO Foundation was established four years ago to raise private funding for the World Health Organization (WHO). It advocates for impact investing as a way to attract sustainable financing for health. Currently it acts as partner and advisor to the Global Health Equity Fund, which is operated by the global venture investing platform OurCrowd.
The Global Health Equity Fund intends to invest in tech-focused start-ups with the potential to improve access to health and drive down costs in low-and middle-income countries.
It is estimated that the impact investment market stands at 1.164 trillion in 2021, with around 7 percent invested in healthcare and a further six percent in water and sanitation initiatives.
Anil Soni, CEO, the WHO Foundation said: “As a donor government, Japan is already a major and dynamic contributor to global health. Yet there is untapped potential for impact investment from the private sector to improve health in low- and middle-income countries. Millions of people currently pay directly for their own healthcare, and it frequently pushes them over the poverty line. By bringing health innovations to the market, portfolio companies can widen access, choice and offer value for money to patients and health systems. Investments in health pay back hugely – for both individuals and economies. By creating more affordable, accessible healthcare, we can also achieve a more equitable world.”
The WHO Foundation’s impact investing partnerships are part of the wider mission of the WHO Foundation to attract business and private philanthropic funding to WHO.
In May 2024, the World Health Organization launched its first ever Investment Round as part of a drive towards more sustainable funding for the organization. WHO currently secures only 20 percent of its budget from member states in the form of flexible funding with the remaining 80 percent ring-fenced for specific initiatives, which has presented operational challenges for the organization.
Since launch, the Triple I initiative has attracted more than 80 partners, ranging from impact investing firms to development banks and UN agencies.
About WHO Foundation
The WHO Foundation is an independent Swiss foundation that supports the work of the World Health Organization. We build bridges between visionary private donors and pioneering health initiatives on the ground to create systemic change. We benefit from the global platform and reach of WHO, while having complete autonomy, enabling speed, agility and impact.
About OurCrowd
OurCrowd is a global venture investing platform that empowers individual accredited investors and institutions to invest and engage in emerging technology companies. Since it was founded in 2013, OurCrowd has received over $2.3 billion in commitments and deployed capital into 460 portfolio companies and 57 funds across five continents.
OurCrowd vets and selects companies across a variety of sectors and stages, invests its capital, and provides its global platform of over 235,000 registered members from 195 countries with unparalleled access to co-invest and contribute connections, talent and deal flow.
About the Global Health Equity Fund
The Global Health Equity Fund is a $200 million financial-first impact venture capital investment fund focusing on breakthrough technology solutions that can impact healthcare globally. The Global Health Equity Fund will work with entrepreneurs in early-stage companies who have evidence-based technology that aims to scale health innovations.
The fund team is led by OurCrowd Venture Partner, Dr. Morris Laster, Principal Itsik Francis, with the support of the WHO Foundation CEO Anil Soni and Chief Impact Investment Officer Geetha Tharmaratnam.
