INITIATE Ventures announced the closing of $45 million in its debut venture capital fund and affiliated company creation platform. And INITIATE invests in and co-founds transformative companies at the intersection of healthcare, life sciences, and technology. The fund was designed to enable bold ideas and exceptional entrepreneurs, utilizing the expertise of its experienced investor-operator team.
INITIATE is headed by General Partners Jessica Owens and Iana Dimkova, who have decades of experience building and backing market-defining companies.
Owens co-founded GRAIL, which was acquired in 2021 by Illumina for $8 billion. And she was formerly a partner at the venture capital firm Kleiner Perkins.
Before co-founding INITIATE, Dimkova was a director in the healthcare technology investing group of GE Ventures. Before GE Ventures, she was with Alvarez & Marsal and a startup that raised over $700 million to build one of the largest networks of radiation therapy centers in the U.S.
INITIATE’s team understands the challenges and opportunities that health tech and life sciences companies face. And the team contributes significant time, focus, real-world experience, and unparalleled networks to support founders.
INITIATE Ventures focuses on early-stage health tech and life sciences companies raising seed to Series A rounds. And the firm invests in startups poised to make a lasting impact.
INITIATE’s startup studio was built to partner with entrepreneurs to co-create and launch new companies. And the studio acts as an experienced co-founder, bringing operational and strategic support in areas ranging from business development, talent acquisition, and fundraising.
The initial investments include
1.) Cornerstone AI – An AI software solution that accurately and efficiently prepares vast types of healthcare data for analysis in a fraction of the time of traditional methods);
2.) Delfi Diagnostics – The developer of accessible blood tests driving early cancer detection
3.) Macro Trials – A precision research clinical platform and
4.) Persana – A luxury aesthetic health concierge.
Cornerstone AI, Macro Trials, and Persana were co-founded by INITIATE.
KEY QUOTES:
“Exceptional founders are looking for investors who bring more than just capital and domain expertise; they are seeking true partners who have walked in their shoes. After years spent founding, operating, and investing in these sectors, we’re now building a home for the next generation of world-class entrepreneurs, clinicians, and scientists.”
– Jessica Owens, INITIATE General Partner
“Technology innovation in healthcare and life sciences is creating an unparalleled opportunity to revolutionize human health. We’ve developed a best-in-class model for company creation that empowers exceptional entrepreneurs to build companies with the potential to deliver lasting impact and drive outsized returns.”
– Iana Dimkova, INITIATE General Partner
“INITIATE is the founding partner startups need. I have worked with the team to launch two companies, and the experience has been superb. My entire career has been devoted to medicine, and I’ve connected with incredible innovators to create solutions to pressing needs, but company-building is something else entirely. The INITIATE team understands exactly how to take a novel solution and turn it into something that can benefit others at massive scale.”
– Babak Azizzadeh, MD, FACS
