Define Ventures, which is one of the largest venture capital firms focused on early-stage health tech companies, announced that Carolyn Magill, former CEO of Aetion, has joined the firm as venture partner. Magill, utilizing her 25 years of invaluable experience scaling companies and driving innovation within payer, provider, and pharmaceutical organizations, will partner with Define founders to scale their companies and become category-defining companies.
Magill is a seasoned healthcare executive and two-time CEO, having held executive leadership positions across multiple corners of the ecosystem. Before joining Define, Magill was CEO of Aetion, whose platform transforms real-world data into regulatory-grade evidence for critical healthcare decisions. She also previously served as CEO of Remedy Partners, the bundled payments software and services company, and as Executive Vice President of Payer Strategy and Operations at Evolent Health, where she helped drive the company’s progression from startup through IPO. She also held several leadership roles at UnitedHealth Group, including Chief Operating Officer of its Community and State plan in New Jersey.
Magill’s appointment complements Define Ventures’ existing venture partners Bruce Broussard (former CEO of Humana) and Frank Williams (co-founder and former CEO of Evolent Health), creating a powerful trio of industry leaders with comprehensive experience across payer, provider, and pharmaceutical sectors. Together, they bring unparalleled strategic depth to Define’s partner companies.
Define Ventures has $800 million in assets under management and partners with companies at the seed, series A, and series B stages. The firm impacts leading health tech entrepreneurs with its high-conviction approach, partnering with over two dozen companies, including Hims & Hers, Unite Us, and Cohere Health.
KEY QUOTES:
“Carolyn’s extensive experience across payer, provider, and pharmaceutical sectors makes her uniquely qualified to guide the next generation of health tech innovators. Having had the privilege of partnering with Carolyn as an advisor for many years, we’re confident her deep expertise, particularly in data and AI applications within the pharmaceutical landscape, will be invaluable to our partner companies.”
– Lynne Chou O’Keefe, founder and managing partner at Define Ventures
“Define represents the best of venture — an incredible founder community and a team of experienced operators who truly understand what it takes to build in healthcare. Throughout my career, I’ve worked across many corners of healthcare, and joining Define allows me to bring that experience to the earliest stages of innovation, helping founders turn ideas into impact.”
– Carolyn Magill
