The Strengthening Health Outcomes through the Private Sector (SHOPS) project, led by Abt Associates and funded by USAID, is implementing the HANSHEP Health Enterprise Fund in Ethiopia, Kenya, and Nigeria. The fund is designed to identify innovative and replicable private sector solutions that address critical health priorities of the poor in sub-Saharan Africa. Through timely investment and targeted technical assistance, the fund supports 16 small businesses to establish proof of concept or to scale their models sufficiently to generate revenue. This profile describes the selection and implementation processes of the fund and highlights several of the grantees’ business models. It also includes the results achieved by the fund and lessons learned to inform future challenge funds.