Define’s latest fundraise is one of the largest solely focused on early-stage digital-health startups
SAN FRANCISCO, April 18, 2023 — Define Ventures, a leading Silicon Valley venture capital firm that focuses exclusively on early-stage digital-health startups, today announced the closing of Fund III and Opportunities Fund that together total $460 million to fuel innovation in healthcare. 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.
Define Ventures 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. The Define team comprises seasoned investors and operators who have successfully partnered and scaled multiple enterprise and direct-to-consumer healthcare businesses, providing its partner companies with unique insights into bridging consumer and enterprise commercial models.
“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,” said Lynne Chou O’Keefe, founder and managing partner at Define Ventures. “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.”
Define Ventures currently partners with 21 industry-shaping companies led by world-class entrepreneurs. 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. Additionally, Define Ventures has a strong network of leading payers, providers, employers, retailers, and life-science companies who can help entrepreneurs build sustainable businesses. 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.
“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,” said Dan Brillman, co-founder and CEO of Unite Us, a Define Ventures partner company. “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.”
Define Ventures’ two 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. Define Ventures’ investment strategy centers on partnering with startups that are serving multiple ecosystem partners, such as consumers, payers, providers, employers and life-sciences companies.
About Define Ventures
Define Ventures is one of the largest early-stage venture firms focused on investing in the digital-health companies that are redefining healthcare. Define Ventures combines proven Silicon Valley principles with deep healthcare operating experience to create category-defining companies. Define has incubated or partnered with many of the leading digital-health companies, including Hims & Hers, Unite Us, Folx Health, and Cohere Health, and has experience building best-in-class industry leaders like Livongo. Define Ventures invests in digital-health startups at the incubation, seed, series A, and series B stages. For more information, visit www.definevc.com.
SOURCE Define Ventures
