- Flare Capital Partners recently announced that it closed $255 million in committed capital for its second fund Flare Capital Partners II, L.P.
Flare Capital Partners — a leading healthcare technology venture capital firm — recently announced that it closed its second fund Flare Capital Partners II, L.P. with a total of $255 million in committed capital. The oversubscribed fundraise follows up its inaugural fund — which was raised in April 2015 and it establishes Fund II as one of the largest, independent, and dedicated healthcare technology venture capital investment funds.
“Our relationship with Flare Capital has been highly productive and there are numerous examples of our collaborating and co-investing with them across many of our business areas. In particular, we value the team’s depth of investment experience and their proven ability to finance and build leading healthcare technology companies. We’re committed to bringing to market innovative healthcare solutions and services for our members and we see Flare Capital playing an important role in that mission,” said Bruce Broussard — the President and CEO of Humana.
As the U.S. healthcare system continues to rapidly evolve, providers are seeking better clinical outcomes at lower costs and payers are developing novel payment and engagement solutions, life sciences manufacturers embrace digital health and intelligent analytics solutions while employers are looking to improve the health of their covered populations at reasonable cost and patients become more empowered proactive healthcare consumers. And these shifts are driving the demand for innovative models and technologies incorporating mobility and advanced analytics.
Flare Capital’s investment team is focused on transformational technologies and services that drive value-based healthcare, leveraging mobile solutions, big data analytics technologies, and secure infrastructure.
“We are delighted to continue to partner with the firm as it further scales and successfully invests in a number of innovative healthcare companies. We are at an incredibly interesting and profound inflection point in healthcare and value Flare Capital’s dedicated approach to backing world-class healthcare technology entrepreneurs. It is clear to us that such an approach should add significant value,” added Philip Rotner — the CIO of the Boston Children’s Hospital.
Flare Capital made seventeen investments out of the prior fund including Aetion, Bright Health, Circulation, HealthVerity, Iora Health, Somatus, and VisitPay.
“We look forward to partnering with Flare Capital, as the pharmaceutical industry continues to evolve and embrace digital technologies,” noted Julie Schiffman — the VP of Customer Analytics at Pfizer.
Plus Flare Capital has developed the successful Flare Scholar program with over 100 participants and it actively leverages its extended industry network, Executive Partners and Industry Advisory Board to benefit entrepreneurs and founders.
“At Aetion we are building leading real-world evidence analytics solutions and are excited to partner with Flare Capital in the endeavor. We are consistently impressed by their depth of industry expertise, relevant networks, and absolute commitment to our success,” explained Carolyn Magill — the CEO of Aetion.
Some of the exits that Flare Capital has overseen include Circulation (acquired by LogistiCare) and Valence Health (acquired by Evolent Health).
“The Flare Capital team has been a key partner in Bright Health since the initial concept and seed investment. We’ve worked closely together each step of the way to take Bright Health from inception to reality,” noted Bright Health CEO Bob Sheehy and Flare executive partner.
Along with Sheehy, the partners at Flare Capital Partners include Adam Bruce; Bill Geary; Dan Gebremedhin, MD; Phyllis Gotlib; Gary Gottlieb, MD; Michael A. Greeley; Chris Kryder, MD; and Tom Mac Mahon.
