The new ‘Qualified Investors Fund’ category was introduced by Dubai Financial Services Authority (DFSA) to minimize registration procedures for certain types of private equity funds while maintaining best-practice regulation

United Arab Emirates, 29 March 2015:

TVM Capital Healthcare Partners has become the first company to register a private equity fund under the new Qualified Investors Fund (QIF) regime introduced by the Dubai International Financial Centre (DIFC).

The fund regime, operated by the DIFC’s regulator, the Dubai Financial Services Authority (DFSA), has been designed to promote Dubai as an asset management centre by facilitating fund registration while maintaining global best practice in regulation. It is open to funds that are aimed at professional investors, with a minimum subscription of US$500,000 through private placement.

TVM Capital Healthcare Partners, which raised a private equity fund in 2010 that invests in healthcare in the Middle East, North Africa and India, has chosen the QIF regime for a second fund. The QIF regime further supports the position of DIFC as a conduit and hub for investment vehicles across different asset classes. Morgan, Lewis & Bockius LLP acted as legal advisor and fund counsel, and Praesidium LLP supported TVM Capital Healthcare Partners Limited in coordinating and liaising with the both the DIFC and DFSA in respect of the application for the first DIFC QIF.

Dr Helmut Schuehsler, Chairman and CEO of TVM Capital Healthcare Partners, commented:
“At TVM Capital Healthcare Partners, we believe the DIFC is an excellent domicile for our future funds, and we applaud the QIF initiative which brings cost, compliance and approval speed for classical private equity funds targeting qualified investors in line with international best practices. We believe that this new type of fund regime will attract many private equity and venture capital firms to raise funds domiciled in the DIFC. ”

Arif Amiri, Deputy CEO DIFC said, “We are extremely pleased with the registration of TVM Capital Healthcare Partners as a private equity fund under the new QIF regime. The news comes as an indicator of confidence in DIFC’s robust regulatory framework. It also acknowledges our commitment in promoting the expansion of high-quality private equity and venture capital firms. Their stellar growth is set to play a critical role in the continuing growth of Dubai’s economy and strengthen DIFC’s credibility as a domicile for alternative investment funds and one of the top jurisdictions for compliance, speed and cost-friendly.”

Ayman A. Khaleq, Dubai Managing Partner, Morgan, Lewis & Bockius LLP said: “We are very excited to have advised our client TVM Capital Healthcare Partners on the first private equity fund registered under the QIF regime. As a firm with a leading global funds’ practice, we are very keen to contribute to the continued success of the DIFC and its investment funds’ regime.”

Hari Bhambra, Senior Partner, Praesidium LLP said:
“The DIFC QIF regime is an example of a fast track regime and process without compromising on any quality or due diligence standards with regulatory approval being granted in a matter of hours, it’s a testament to the ability of the regulators to work with the industry without compromising on any standards that appeal to and preserve the confidence which investors have in the regulatory environment within the DIFC.”

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About TVM Capital Healthcare Partners

TVM Capital Healthcare Partners was established in 2009 under the name TVM Capital MENA. The firm is focusing on making highly specialized growth capital and small buyout investments in healthcare companies in the Middle East and North Africa (MENA) region and India that are or target to become leaders in their regional markets. The firm has assembled a strong team of investment professionals who are supported by a group of healthcare operators as executives-in-residence in its accelerator company, TVM Operations Group, and TVM Healthcare Advisors, which provides healthcare focused research and advisory services. Collectively, this team has developed an ability to conceptualize and develop business opportunities that provide investors with completely proprietary deal flow and investment opportunities. TVM Capital Healthcare Partners has broken new ground with four portfolio investments to date in specialized services that were either non-existent or drastically undersupplied, e.g., long-term care, rehabilitation, home care and world-class fertility treatment. A fifth investment focuses on the area of medical device development and manufacturing. The company has an alliance with the Spaulding Rehabilitation Network, an official teaching hospital of the Harvard Medical School, which is at the forefront of research in the fields of rehabilitative care, long term acute care and home care and with Joslin Diabetes Center, giving its portfolio and patients access to expertise from the world’s leading research and clinical care organization dedicated to the prevention, treatment and cure of diabetes. Joslin is an independent, non-profit institution academically affiliated with Harvard Medical School. The firm operates out of the Dubai International Financial Center (DIFC) and is licensed and regulated by the Dubai Financial Services Authority (DFSA).

TVM Capital Healthcare Partners is part of TVM Capital Group, an affiliation of globally acting venture capital and private equity firms with an operating track record of 30 years. TVM Capital Group has financed more than 120 healthcare and life science companies and has documented its success as a growth capital investor through 43 initial public offerings from its portfolio. www.tvm-capital.com or www.tvm-capital.ae

About Dubai International Financial Centre

The Dubai International Financial Centre (DIFC) is the financial hub for the Middle East, Africa and South Asia, providing a world-class platform connecting the region’s markets with the economies of Europe, Asia and the Americas. It also facilitates the growth in South-South trade and investment. An onshore, international financial centre, DIFC provides a stable, mature and secure base for financial institutions to develop their wholesale businesses. The Centre offers all the elements found in the world’s most successful financial industry ecosystems, including an independent regulator, an independent judicial system with a common-law framework, a global financial exchange, inspiring architecture, powerful, enabling support services and a vibrant business community. The infrastructure within the district features ultra-modern office space, retail outlets, cafes and restaurants, art galleries, residential apartments, public green areas and hotels.

Located midway between the global financial centres of London in the West and Singapore in the East, DIFC (GMT +4) fills a vital time-zone gap with a workday that bridges the market and business hours of financial centres in both Asia and North America.
Currently, more than 1,225 active registered companies operate from the Centre, including 21 of the world’s top 25 banks, 11 of the world’s top 20 money managers, 7 of the top 10 insurance companies, and 9 of the top 10 law firms. Nearly 18,000 people work in the Centre. DIFC continues to pursue expansion into new services and sectors within the Middle East, Africa and South Asia region, an area comprising over 72 countries with an approximate population of 2.8 billion and nominal GDP of US$ 6.9 trillion.

For further information, please visit our website: www.difc.ae, or follow us on Twitter @DIFC.

Media Contact on behalf of TVM Capital Healthcare Partners
Brunswick Gulf
Dominic Whiting +971 2 2344 603
Amr Deeb +971 56 174 8667
[email protected]
Media Contact for Dubai International Financial Centre
Sonali Rekhi
APCO Worldwide
Mobile: +971 55 6264896
Email: [email protected]

Gaurav Ghose
APCO Worldwide
Mobile: +971 55 2426701
Email: [email protected]