AVPA unveils Africa’s first mental health investment fund

The Africa Venture Philanthropy Alliance (AVPA) has launched the continent’s first Catalytic Pooled Fund to drive investment in mental health, marking a major step toward unlocking private capital for one of Africa’s most underfunded social priorities.

The announcement was made on Monday as AVPA opened its 2025 Annual Conference at the Trademark Hotel in Nairobi, bringing together more than 400 delegates from over 30 countries. The three-day event is themed 'Driving Sustainable Investments and Innovations for Resilient Growth.'

The fund, launched in partnership with the Coalition for Mental Health Investment (CMHI) - a group that includes the Clinton Global Initiative (CGI), the Wellcome Trust, Kokoro, and the McKinsey Health Institute - aims to bridge the financing gap in mental health by mobilising catalytic capital from philanthropies, impact investors, governments, foundations, and family offices.

AVPA Chief Executive Officer Dr. Frank Aswani said the new fund will provide flexible, patient, and risk-tolerant financing to test and scale evidence-based programs across Africa.

“Mental health is not a peripheral issue; it is foundational to economic productivity and social stability,” Dr Aswani said.

“Through our partnership with the Coalition for Mental Health Investment and the launch of this Catalytic Pooled Fund, AVPA is positioning mental health as an investable priority, one that can deliver both social and economic dividends for Africa.”

The fund will also focus on leveraging technology and empowering young people with 21st-century skills to grow what AVPA describes as “the continent’s brain economy.”

During the same opening session, AVPA announced a strengthened Memorandum of Understanding with the International Development Innovation Alliance (IDIA), formalising a strategic partnership to mobilise new sources of capital for innovation and expand blended finance models across Africa.

Dr. Aswani said the collaboration with IDIA - a network of more than 400 global innovation leaders - will build a “continuum of scaling capital” for African innovators and enhance knowledge-sharing among funders.

“This partnership underscores our shared mission to advance innovation as a pathway to sustainable development. By working with IDIA’s global network, AVPA will help build stronger bridges between capital, innovation, and impact, ensuring African-led solutions are scaled for global change,” he said. 

AVPA East Africa Board Chair Joseph Ogutu urged African investors to take ownership of the continent’s development story.

“Africa’s development narrative has evolved from aid to ownership. The Mental Health Catalytic Pooled Fund and our partnership with IDIA demonstrate that African capital - financial, human, and intellectual - can and will lead the continent’s transformation,” he noted.

Among the keynote speakers was British A. Robinson, Chair of Africa at the Milken Institute International, who spoke on the role of philanthropy and private capital in driving inclusive growth.

Over the next three days, the Nairobi conference will feature plenary sessions, technical workshops, and investor roundtables exploring themes such as impact measurement, gender-lens investing, climate-resilient finance, and the future of blended finance in Africa.

The meeting underscores AVPA’s growing influence as a platform aligning diverse forms of capital with African-led priorities for sustainable development.