7wireVentures – one of the country’s leading digital health venture capital firms – recently announced the successful completion of a $217 million Growth & Opportunity “GO” Fund, its largest to date. The new capital will support later-stage investments in high-potential companies from existing portfolios and new opportunities. The closing of the $217 million GO Fund brings the Firm’s AUM to over $500 million.
Launched over a decade ago by serial entrepreneurs Glen Tullman and Lee Shapiro, 7wireVentures built a portfolio of 23 companies and a strategic coalition of more than a dozen leading healthcare organizations, together impacting the health and care of millions of Americans. Joined by Partners Robert Garber and Alyssa Jaffee, 7wireVentures offers a unique array of sector and operational experience and deep industry relationships driving enhanced growth across the Firm’s portfolio. The new capital supports the Firm’s existing mandate to invest in consumer-first, technology-enabled solutions that empower Informed Connected Healthcare Consumers.
Joining veteran Operating Partner David Schonthal, 7wire also recently added Tom Richards, previously SVP and Global Lead of Strategy and Business Development at The Cigna Group, and Dan Michelson, previously CEO of Strata Decision Technology, to continue to supplement the hands-on role that 7wire is known for. And the team brings decades of experience advising, building, and leading healthcare organizations.
The firm has already completed three investments out of the GO Fund, including its current portfolio company, NOCD, a specialty mental illness company focused on obsessive compulsive disorder; FOLX Health, the market’s first virtual healthcare platform which addresses the needs of the LGBTQIA+ community; and Parsley Health, a specialized virtual clinic designed to help complex chronic patients get better and feel better while reducing total cost of care.
KEY QUOTES:
“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 success, we are now prepared to double down on some of our fastest growing and most impactful companies while we continue to widen our aperture to exceptional later growth-stage opportunities across the industry.”
- Managing Partner Glen Tullman
“With 7wire, we have built a strong foundation focused on supporting the companies and entrepreneurs that are pioneering new ways for consumers to engage in, and ultimately improve, their health. 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.”
- Craig Cimini, Head of The Cigna Group Ventures, a 7wireVentures Limited Partner
“With several companies in our portfolio sitting at the precipice of significant growth, we could not be more pleased to announce the closing of our latest Fund. We have developed a time-tested strategic and tactical playbook that has been proven out across market cycles, in partnership with transformative leaders and founders.”
- Managing Partner Lee Shapiro
