Investing in Health | January 29, 2024

Cross-Border Impact Ventures raises $90 million and starts to put it to work in five companies

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, January 29 – Cross-Border Impact Ventures launched in 2021 to invest in health interventions for women and children. The The Toronto-based impact fund manager closed its first fund at $90 million, just shy of its $100 million goal. Its latest backers include German development bank KfW, Dutch impact fund of funds Wire Group, Ceniarth, Skoll Foundation and many others.

The new investors join existing backers, including J&J Impact Ventures, Children’s Investment Fund Foundation and Grand Challenges Canada (disclosure: J&J Impact Ventures is an ImpactAlpha sponsor).

Early portfolio

Cross-Border Impact cuts early checks to companies based in North America and Europe that also serve the Global South. Its first investments include Pendulum, which uses AI to address supply chain challenges for essential medicine; gynecological care company Daye; portable neonatal incubator maker Mom Incubators; fetal ultrasound software company Sonio; and oncology care services provider OncoLens.