Define Ventures – a leading Silicon Valley venture capital firm that focuses exclusively on early-stage digital-health startups – announced the closing of Fund III and Opportunities Fund that together a total $460 million to fuel innovation in healthcare. And investing in incubation, seed, series A, and series B stage startups, Define Ventures’ newest fundraise pushes its total assets under management to approximately $800 million and makes it one of the largest early-stage venture firms focused on investing in digital health.
The firm combines Silicon Valley principles with deep healthcare operating experience and is creating a bold vision for the healthcare system by partnering with category-defining companies with proven leaders. And the Define team comprises seasoned investors and operators who have successfully partnered and scaled multiple enterprises and direct-to-consumer healthcare businesses, providing its partner companies with unique insights into bridging consumer and enterprise commercial models.
Define Ventures’ 2 new funds include Fund III, which will support new early-stage investments, and Opportunities Fund, which will support its existing partner companies in their growth trajectories. And Define Ventures’ investment strategy centers on partnering with startups that are serving multiple ecosystem partners like consumers, payers, providers, employers, and life-sciences companies.
Define Ventures is currently partnered with 21 industry-shaping companies led by world-class entrepreneurs. And the firm attracts the healthcare industry’s leading startups by forming deep partnerships to create commercial opportunities, foster world-class teams, and build a unique digital-health community. And Define Ventures has a strong network of leading payers, providers, employers, retailers, and life-science companies who can help entrepreneurs build sustainable businesses. Plus the firm also has relationships with influential strategic advisors that span the healthcare, consumer and technology ecosystems that provide experience in creating and scaling industry-shaping companies.
KEY QUOTES:
“The healthcare system is evolving rapidly as multiple healthcare, technology and consumer trends converge, and even with the progress over the last few years, it remains a $4 trillion market opportunity that desperately needs greater digital transformation. At Define Ventures, we are at the center of that convergence and combine the best of Silicon Valley thinking and deep healthcare operating experience to better understand how enterprise and consumer models will intersect to become the future of healthcare. We are honored to have the support of strategic and limited partners for Fund III and Opportunities Fund who helped us raise one of the largest early-stage, digital health funds. We look forward to continuing to build with entrepreneurs that are redefining the healthcare ecosystem.”
- Lynne Chou O’Keefe, founder and managing partner at Define Ventures
“In the early stages of our company, Define Ventures stood out to us as a partner because its team has an established network from all corners of the healthcare ecosystem from providers to payers. Having Define’s experience in helping companies scale across multiple categories from enterprise to consumer models was invaluable, and we look forward to continuing to partner with Define as we expand our impact on people’s health in the community.”
- Dan Brillman, co-founder and CEO of Unite Us, a Define Ventures partner company
