Press Releases
Abuja, Nigeria — October 7, 2024
eha Impact Ventures (EIV), a leading impact investment venture, in collaboration with MotherFood, a gender lens social enterprise, announces a joint investment in Amayi Foods, a Nigerian-based food processing company.
This investment offers $75,000 through a Simple Agreement for Future Equity (SAFE), designed to increase job creation, particularly for low-income women, train small-scale farmers, and combat food insecurity by increasing the production of nutritious food.
Beyond financial support, this collaboration will assist Amayi Foods in exploring ways to fortify its product line with essential nutrients. This initiative aims to significantly improve the health of women and children, address critical nutritional deficiencies, and promote overall well-being in the community.
“We are excited to support Amayi Foods in their journey to enhance food quality and nutrition in Nigeria,” said Evelyn Castle, Co-Founder and CEO at eha Impact Ventures. “Our partnership with MotherFood underscores our commitment to leveraging expertise and resources to drive sustainable development and improve health outcomes for mothers and children.”
MotherFood shares this enthusiasm. Chris Emergui, Global Partnerships at MotherFood, stated, “This collaboration with EIV and Amayi Foods aligns perfectly with our mission to support female entrepreneurs to prevent maternal and child malnutrition for vulnerable populations. We look forward to contributing our expertise to this vital initiative.
We look forward to contributing our expertise to this vital initiative.
In addition to the investment, EIV is providing a $5,000 marketing communications grant. This grant will enable Amayi Foods to enhance its outreach and engagement efforts, ensuring its mission and impact reach a broader audience.
“Amayi Foods was founded with a vision to combat malnutrition and empower local communities,” said Kudzayi Hove, Co-Founder and CEO of Amayi Foods. “We are thrilled to receive support from EIV and MotherFood, which will help us grow our business and enhance our ability to provide nutritious food to those who need it most.”
Amayi Foods has pioneered innovative food processing techniques, crafting nutritious and affordable products that are transforming lives. By enhancing cooking efficiency, Amayi supports families, notably women entrepreneurs, to nourish their loved ones while fuelling broader economic progress. The company has emerged as a driving force for social, health, and culinary progress through its mission-driven approach.
About eha Impact Ventures
eha Impact Ventures (EIV) is a philanthropic impact investing enterprise that supports early-stage, high-impact, women-led businesses in Africa. Unlike traditional business financing, EIV offers flexible and innovative funding options paired with high-quality, local, shared business resources to ensure business growth and success. Learn more at eha. ventures.
Media Contact: Sumayyah Ibrahim | Email: sumayyah.ibrahim@eha.ventures
Investor Contact: Evelyn Castle | Email: evelyn@eha.ventures
About MotherFood:
MotherFood International is a social enterprise that supports female entrepreneurs to prevent maternal and child malnutrition. Focused on improving health outcomes for vulnerable populations, MotherFood trains women to make or sell locally-made nutritious and fortified food to improve their financial situation and the health of the women in their communities.
About Amayi Foods :
Amayi Foods is a Nigerian-based food processing company committed to improving food security and nutrition. Amayi Foods aims to address critical nutritional needs and promote healthier communities by producing high-quality, fortified food products.
Abuja, Nigeria — April 25, 2024
eha Impact Ventures (EIV) is excited to announce an additional investment of $150,000 in Ananya Health, one of its portfolio companies pioneering medical technology advancements across Africa.
Ananya Health is developing a battery-powered cryoablation device to freeze abnormal cervical cells before they become cancerous. Traditional cryoablation procedures are expensive, require specialised doctors, and pose logistical challenges, making this needed and preventative technology inaccessible. Ananya Health’s cutting-edge device eliminates these barriers by making it portable, affordable, and accessible at primary healthcare centres.
EIV’s newest $150,000 investment, structured as a Simple Agreement for Future Equity (SAFE), brings its total investment to $175,000. This funding supports Ananya Health towards securing a National Institutes of Health (NIH) grant and pursuing its long-term goal of obtaining U.S. Food and Drug Administration (FDA) 510(k) clearance. This clearance ensures the safety and efficacy of their medical device, allowing it to be marketed in the United States.
Evelyn Castle, CEO and Co-founder of EIV stated, “We are proud of Ananya Health’s progress in 2023 and 2024. Its key milestones include designing a battery-operated cooling system that can consistently reach -40 degrees Celsius and establishing partnerships with clinical organisations, advocacy groups, and screening companies to support device adoption in target regions like Kenya, Nigeria, and India. We believe this device will be a game-changer in preventing cervical cancer and are proud to be an early investor and supporter.”
In recognition of EIV’s commitment to Ananya Health, Evelyn Castle has joined the Board of Directors as a Board Observer to provide strategic guidance and support to Ananya Health’s leadership team in navigating the subsequent phases of development.
Expressing her appreciation, Anu Parvatiyar, CEO of Ananya Health, stated, “Ananya Health is thrilled to have eha Impact Ventures as an investor. Their deep strategic and operational experience in African health systems is invaluable as we progress towards final product development. They have a uniquely comprehensive understanding of patients, clinicians, and policy that will be a huge asset as we move toward commercial launch and beyond.”
eha Impact Ventures’ investment reflects a shared vision for a future where accessible and affordable medical solutions can improve global health. Ananya Health’s innovative approaches can transform cervical cancer prevention, and with EIV’s continued support, the journey toward widespread adoption is poised for success.
About eha Impact Ventures
eha Impact Ventures (EIV) is a philanthropic impact investing enterprise that supports early-stage, high-impact, women-led businesses in Africa. Unlike traditional business financing, EIV offers flexible, innovative financing and high-quality, local, shared resources to ensure business growth and success. Learn more at eha Impact Ventures.
Media Contact: Sumayyah Ibrahim | Email: sumayyah.ibrahim@eha.ventures
Investor Contact: Evelyn Castle | Email: evelyn@eha.ventures
About Ananya Health:
Ananya Health is a seed-stage medical technology company developing a device for the global fight against cancer. The device uses battery-powered cryoablation, eliminating the need for cryogen gas to freeze abnormal cells and prevent them from developing into cancer. This innovative approach aims to revolutionise cancer prevention at the grassroots level of healthcare.
Abuja, Nigeria – August 5, 2024
eha Impact Ventures (EIV), a leading impact investing firm, proudly announces a transformative $50,000 pre-seed funding, as convertible loan in Blueroomcare, a pioneering digital therapy platform dedicated to advancing mental healthcare, notably for women in Nigeria.
This funding aims to significantly enhance access to quality mental health care, raise awareness about mental health issues, and implement targeted programs specifically for women.
“A growing number of Nigerians need mental health care; however, these services are inaccessible or expensive. We recognise the potential of Blueroomcare to bridge this gap and its commitment to making a lasting impact on the lives of Nigerians, notably women,” remarked Evelyn Castle, CEO and Co-Founder of eha Impact Ventures.
Beyond financial support, EIV is committed to being a hands-on and supportive partner, offering expertise, connections, and technical advice. EIV has also awarded $30,000 in technical support to Blueroomcare, including $25,000 worth of staff time to assist in strategy development and the design of Blueroomcare’s information system, and $5,000 in communications support.
“We are thrilled to have the support of such a remarkable group of investors who believe in our mission,” said Ebunoluwa Collins, Co-founder and Chief Operating Officer of Blueroomcare. “This funding will allow us to develop our technology further and expand our services, bringing us closer to our goal of making high-quality mental health care available to everyone, everywhere.”
EIV is dedicated to investing in and supporting innovative companies that create significant social impact. By providing financial and strategic support, EIV aims to foster sustainable growth and enhance the lives of African women and their families.
About eha Impact Ventures
eha Impact Ventures (EIV) is a philanthropic impact investing enterprise that supports early-stage, high-impact, women-led businesses in Africa. Unlike traditional business financing, EIV offers flexible and innovative funding options paired with high-quality, local, shared business resources to ensure business growth and success. Learn more at eha.ventures.
Media Contact: Sumayyah Ibrahim | Email: sumayyah.ibrahim@eha.ventures
Investor Contact: Evelyn Castle | Email: evelyn@eha.ventures
About Blueroomcare:
Blueroomcare is a virtual behavioural healthcare provider committed to helping people lead healthier, happier lives through access to high-quality mental healthcare. At Blueroomcare, we believe that mental healthcare is core to overall health and should be available to everyone.
eha Impact Ventures (EIV), a gender-lens impact investing venture, secured $50,000 from a USA Donor-Advised Fund (DAF) to support women entrepreneurs in Africa. This milestone marks the second funding received through a Donor-Advised Fund, a philanthropic vehicle that allows individuals, families, and organisations to make charitable contributions and recommend grants from the fund to specific charitable organisations.
This approach represents a new era in philanthropy, where donations are used to invest in socially impactful companies via vehicles like eha Impact Ventures. The returns from these investments are then reinvested into other impactful ventures, amplifying the impact of the initial donations through continuous reinvestment in various businesses.
eha Impact Ventures, renowned for its commitment to fostering female entrepreneurship in Africa, has long championed innovative financial avenues for social empowerment. This funding will support improved health outcomes for women, notably preventing the growing rate of cervical pre-cancer in African women.
Evelyn Castle, Co-Founder/CEO of EIV, commented on the significance of this donation and stressed that it is a more sustainable option than the traditional charity model. She adds, “It is pertinent that we use our creativity and local knowledge to grow impact and build better economic conditions in Africa”. “This generous contribution through the DAF method underscores a commitment to fostering inclusive prosperity and unlocking the full potential of women-led enterprises.”
This innovative funding approach exemplifies the evolving landscape of philanthropy and emphasises the power of strategic partnerships in driving meaningful change. By harnessing the DAF mechanism, EIV and its donors are pioneering a model of giving that transcends traditional boundaries, amplifying impact and increasing opportunities for women’s economic empowerment.
Abuja, Nigeria – April 29, 2024
eha Impact Ventures (EIV), a leading impact investment firm, has converted $3 million in debt financing into equity for EHA Clinics, a prominent network of primary care facilities in Nigeria. By transitioning debt into equity, EIV aims to bolster EHA Clinics’ financial position ahead of its Series A funding round, facilitating access to additional capital for business expansion and operational scaling.
Since its inception in 2018, EHA Clinics has rapidly expanded its footprint in Nigeria’s healthcare landscape, distinguishing itself through innovative technology integration, commitment to quality care, and accessible pricing. EIV’s initial debt financing was pivotal in supporting EHA Clinics during its formative years, enabling the company to establish a solid foundation in Nigeria.
Evelyn Castle, CEO of eha Impact Ventures, says, “This conversion represents a strategic investment in EHA Clinics’ future. We believe in the company’s mission to enhance healthcare accessibility in Nigeria and are committed to supporting its growth through this financing initiative.”
EHA Clinics’ CEO, Adam Thompson, remarked, “We are grateful for EIV’s continued partnership and support. Converting debt to equity strengthens our financial standing and reflects our investors’ confidence in our long-term success. This strategic move will enable us to fortify our operations, enhance our service offerings, and accelerate our mission to deliver quality healthcare to Nigerians.”
Ifunanya Ilodibe, EHA Clinics’ Chief Medical Officer (CMO), added, “The conversion will greatly benefit our AI-driven health management suite, EHACare, enhancing quality healthcare delivery. It will strengthen our REACH Program, enabling continued provision of high-quality, low-cost healthcare in underserved communities. It will also support our growing impact-focused research strategy to expand the delivery of high-performing primary care and community health”.
The conversion of debt into equity offers several benefits to EHA Clinics, including enhanced capital-raising capabilities, expanded operational capacity, strengthened asset protection, improved cash flow management, and increased attractiveness to potential investors.
eha Impact Ventures remains committed to supporting EHA Clinics’ mission. This milestone marks a significant step in its effort to enhance healthcare outcomes and positively impact lives across Nigeria.
About eha Impact Ventures
eha Impact Ventures (EIV) is a philanthropic impact investing enterprise that supports early-stage, high-impact, women-led businesses in Africa. Unlike traditional business financing, EIV offers flexible and innovative funding options paired with high-quality, local, shared business resources to ensure business growth and success. Learn more at www.eha.ventures.
Media Contact: Sumayyah Ibrahim | Email: sumayyah.ibrahim@eha.ventures
Investor Contact: Evelyn Castle | Email: evelyn@eha.ventures
About EHA Clinics:
EHA Clinics is a world-class comprehensive healthcare service provider in Nigeria, dedicated to bridging the gap between patients and healthcare services. Through its network of modern primary care facilities, it integrates innovative technology and mobile solutions to deliver high-quality, affordable care.
For more information, visit https://www.eha.ng/
Project Report
Establishment of a Two-story Primary Health Care Clinic in Gyadi-Gyadi, Taurani, Kano State, Nigeria
Executive Summary
- Support the set-up of a REACH community health clinic in Kano.
- Hire a dedicated training coordinator.
- Support the development of additional training resources and materials.
Key Metrics
Funding Summary
Acknowledgements
We would like to thank the Family DAF for making the establishment of this clinic possible as well as the entire EHA REACH team for their tireless efforts in getting the clinic up and running.
At the 2023 virtual Krutham Africa Impact Investment Award ceremony, EIV received the Project Developer of the Year award, recognising the organisation’s ability to initiate projects and create an opportunity to accelerate social impact.
The award was given to EIV for their innovative financing technique that helped EHA Clinics secure a $300,000 loan from Stanbic Investment Banking and Trust Company Limited (IBTC) last year. The loan is to expand the Clinic to two more locations in Abuja and Lagos, serving an additional 6,000 people annually.
Adam Thompson, EIV Co-Founder, received the award. He stated that the recognition commends the team’s effort to ensure social and environmental impact from investments.
During his speech, Dr. Graunt Kruger, the Managing Director of Krutham, expressed that award recipients represent financing opportunities for smaller social enterprises despite the significant financing gap in the region. “Our award winners showcase a new world of possibilities for facilitating greater access to capital, particularly for smaller social enterprises.”
We are grateful for this award and look forward to advancing social investments across Africa.
Read more on the award here:
We are delighted to share that we joined the African Venture Philanthropy Alliance (AVPA) on July 12, 2023.
AVPA is a network that unites social investors across Africa to increase financial flow into social ventures. Its mission is to ensure that human, financial and intellectual capital are deployed optimally and innovatively to achieve maximum social impact.
As a member of AVPA, we will partner with member organisations to support women founders by offering investment opportunities and innovative business model support and promoting impact investing.
Our Founder and CEO, Evelyn Castle, has expressed that the decision to join AVPA is both an honour and a significant milestone for our firm. According to her, “We firmly believe that by collaborating to mobilise and deploy capital for maximum social impact, we can further enhance the meaningful work we do within Nigeria and across Africa, while also establishing our influence.”
In June 2023, eha Impact Ventures (EIV) earned a 2023 Platinum Transparency Seal on Candid, a platform of comprehensive data and insights about the social sector for people who wish to support social impact.
The Platinum Transparency Seal is the highest level of recognition offered by the Candid- GuideStar platform, indicating that we publicly share information about the difference we make in the world.
We are excited to be among the less than 1% of all non-profit organisations in the US that are awarded this recognition. To learn more about how you can support us and make a positive impact, please visit our profile at https://www.guidestar.org/profile/86-2911430.