7wireVentures, a prominent digital health venture capital firm, has declared the successful closure of its largest “Growth & Opportunity” (GO) Fund to date, amounting to $217 million. This significant injection of capital will be dedicated to later-stage investments in promising companies within their existing portfolio and new prospects. The closing of this $217 million GO Fund propels the firm’s Assets Under Management (AUM) to surpass the $500 million mark.
A Decade of Pioneering in Digital Health
Founded over ten years ago by serial entrepreneurs Glen Tullman and Lee Shapiro, 7wireVentures has cultivated a portfolio of 23 companies and a strategic coalition involving more than a dozen leading healthcare organizations. Together, they have made a substantial impact on the health and well-being of millions of Americans.
With the addition of Partners Robert Garber and Alyssa Jaffee, 7wireVentures brings a unique blend of sector expertise, operational experience, and profound industry connections, which fuel growth throughout their portfolio. This fresh capital will further enable the firm to invest in technology-driven solutions that prioritize Informed Connected Healthcare Consumers.
Doubling Down on Success
Managing Partner Glen Tullman expresses his enthusiasm, stating, “We are excited to announce the successful closing of our new Growth & Opportunity Fund – affirming investors’ continuing belief in our consumer-driven digital health approach.” After nearly a decade of fruitful endeavors, 7wireVentures is now poised to reinforce its support for rapidly expanding and highly impactful companies within its portfolio. Simultaneously, the firm will broaden its scope to identify and nurture promising later-stage opportunities across the healthcare industry.
Supporting Healthcare Innovations
Craig Cimini, Head of The Cigna Group Ventures and a Limited Partner of 7wireVentures, underscores the importance of their partnership. He notes, “Our continued partnership with 7wire allows us to accelerate our efforts to solve some of the country’s most pressing challenges in healthcare and support the innovative companies who are bringing the technology and ideas forward to do that.”
A Wealth of Experience
To enhance their hands-on approach, 7wire has welcomed experienced individuals to their team. Among them are Tom Richards, formerly the SVP and Global Lead of Strategy and Business Development at The Cigna Group, and Dan Michelson, formerly the CEO of Strata Decision Technology. Together with veteran Operating Partner David Schonthal, this team offers decades of expertise in advising, building, and leading healthcare organizations.
Investments Bearing Fruit
Already, 7wireVentures has put the GO Fund to work, with three completed investments. Among these is NOCD, a specialty mental health company concentrating on obsessive-compulsive disorder. Additionally, they’ve invested in FOLX Health, the first virtual healthcare platform addressing the LGBTQIA+ community’s needs, and Parsley Health, a specialized virtual clinic designed to improve the well-being of complex chronic patients while reducing overall healthcare costs.
Conclusion: A Commitment to Innovating Healthcare
7wireVentures’ latest $217 million GO Fund is a testament to their unwavering commitment to revolutionizing digital health. With a portfolio that includes industry disruptors like Livongo, their combination of seasoned operators and experienced investors positions them uniquely in the digital health venture capital landscape. This fund empowers them to continue identifying and nurturing innovative companies, ultimately benefiting healthcare consumers and reshaping the industry.
7wireVentures, a leading digital health venture capital firm, has secured $217 million for its Growth & Opportunity (GO) Fund, aimed at later-stage investments. This capital infusion elevates their Assets Under Management (AUM) to over $500 million. The firm, founded by Glen Tullman and Lee Shapiro, boasts a portfolio of 23 companies and strategic partnerships with prominent healthcare organizations. With this new funding, they are poised to further support their existing portfolio and explore fresh growth-stage opportunities in the healthcare sector. Already, they’ve invested in companies like NOCD, FOLX Health, and Parsley Health. This milestone solidifies 7wireVentures’ dedication to advancing digital health and empowering informed healthcare consumers.
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