OurCrowd, an Israel-based venture capital firm, has announced the launch of a $200 million investment fund in collaboration with the WHO Foundation—which bolsters the mission of the World Health Organization—in support of breakthrough healthcare technology solutions to be delivered globally with a focus on equity and access.

Announced during the Clinton Global Initiative in New York City, which coincides with the convening of the United Nations General Assembly, the Global Health Equity Fund was conceived in the wake of the failure of global markets to respond equitably during the COVID-19 pandemic. The fund will focus on health care as well as related industries where outputs are direct determinants of health, particularly in the areas of energy transition and agriculture. Companies targeted for the portfolio will prioritize innovations to improve health care, while working to mitigate global health risks related to climate, fossil fuels, and looming food shortages.

In collaboration with the WHO Foundation, portfolio companies will be vetted to ensure that, when commercialized, their technology solutions are available, accessible, culturally appropriate, and affordable for populations experiencing inequity, particularly in low- and middle-income countries. In addition, the WHO Foundation and OurCrowd will develop a global health advisory board to help portfolio companies develop early-stage business plans that combine economic return with equitable access.

“In every country in the world, too many men, women, and children lack access to adequate health care because of income disparities and systemic barriers that perpetuate inequity,” said WHO Foundation CEO Anil Soni. “[T]he world failed to deliver solutions for COVID-19 to everyone, everywhere. It is imperative that we deploy solutions in response to that failure.”

“The pandemic opened my eyes to health inequity around the world and reinforced the potential of innovative technology to save lives,” said OurCrowd founder and CEO Jon Medved. “The collaboration with the WHO Foundation will allow us to identify even more exciting investments and facilitate the commitment of investors and entrepreneurs to equitable access to the technologies we support.”

(Photo credit: Getty Images/gorodenkoff)