At the LEO Impact Fund I worked on due diligence for a potential debt reinvestment in Ilara Health, a Kenyan health‑tech company expanding access to affordable diagnostic services. Ilara partners with small clinics and healthcare providers, equipping them with diagnostic tools and offering financing so they can deliver timely, accurate, and affordable care. By empowering clinics in underserved urban and peri‑urban areas, Ilara helps low‑ and middle‑income patients access proper testing. My work included reviewing Ilara’s background, mission, impact model, and financials; analyzing risks associated with the investment; and preparing materials for internal discussions. I also developed educational materials for future projects in Latin America. This project aligns directly with the LEO Impact Fund’s mission to invest in early‑stage ventures that deliver social impact alongside financial returns.

I applied a combination of technical and impact‑focused skills developed during my MBA. Financial modelling, valuation techniques, and accounting principles enabled me to assess Ilara’s financial statements and growth projections. Courses on impact investing and philanthropy informed how I evaluated the company’s health impact metrics, particularly its ability to expand diagnostic access for underserved populations. Insights from healthcare courses helped me analyze the inclusivity and scalability of Ilara’s model, while my broader MBA training in strategy supported my evaluation of long‑term sustainability. Previous experience with the fund provided familiarity with the diligence process and the integration of financial and impact considerations.

A challenge was gaining a deeper understanding of the healthcare landscape in Sub‑Saharan Africa. With limited prior exposure, I had to quickly learn market dynamics, regulatory frameworks, and cultural factors shaping care delivery. Understanding the fragmented diagnostics and pharmacy sectors, the competitive landscape in Kenya and neighboring countries, and how Ilara’s clinic‑in‑a‑box and pharmacy‑as‑a‑service models fit within that ecosystem was crucial. Evaluating a young company pursuing both financial sustainability and measurable health impact also required balancing financial analysis with considerations such as improved diagnostic access and women‑led clinics.

Working on Ilara’s diligence was eye‑opening. It reaffirmed my goal of building a career in impact investing and inspired entrepreneurial aspirations. Ilara’s pharmacy‑as‑a‑service model demonstrated how rethinking traditional business models can unlock systemic change. By shifting capital‑intensive pharmacy operations into a managed service, Ilara improved margins and made essential medicines more accessible and affordable. I saw parallels between Ilara’s work in Africa and healthcare challenges in Indonesia. The experience sharpened my vision to become a founder applying similar thinking to improve health systems at home.