Zoi Capital, a VC firm specializing in artificial intelligence (AI) solutions for healthcare was founded by Mayo Clinic-trained cardiologist Dr. Ronald M. Razmi and Brian K. Beeler (former Executive VP and General Counsel of Horizon Therapeutics), announced they have closed a fundraising goal of $200 million for their Health AI Fund I.
The co-founders and Managing Directors share over 50 years of experience in the medical technology field and have been responsible for over $30 billion in exits via public markets and acquisitions.
Zoi Capital was conceptualized after a former G7 Nation Head of State reached out to Dr. Razmi for help in determining how AI can increase access to high-quality healthcare. And this conversation illuminated the need for experts with deep health AI expertise to drive the selection of the best use cases for funding.
In the US, the stakes are especially high because if the U.S. healthcare sector were a country, the $4.5 trillion size would rank as the fourth largest in the world.
Zoi utilizes its deep relationships with the leading medical institutions to secure deal flow and uses a set of proprietary score cards for selecting the best companies. And the Zoi team utilizes its extensive past operating experience in supporting their portfolio companies to formulate the optimal commercialization strategy and scale-up.
KEY QUOTES:
“Much of the investment in the emerging health AI sector has gone into use cases that have a hard time gaining traction. This is due to a myriad of issues such as unproven economic benefits to the buyers, use cases not being ready for prime time, and inadequately trained AI models. You now need a new breed of investors who have clinical and operating experience with these technologies in healthcare to direct capital to the best companies.”
- Dr. Razmi
“We believe high returns on capital will be earned by specialist investors with a deep focus on one sector. To that end, Zoi has assembled a team of digital health operators and investors to pursue this opportunity.”
- Brian Beeler
