Key Highlights
- 7wireVentures closes a $217 million Growth & Opportunity Fund, bringing its Assets Under Management (AUM) to over $500 million.
- The fund is set to support later-stage investments in high-potential companies from existing portfolios and explore new opportunities in the digital health sector.
- Founded by Glen Tullman and Lee Shapiro, 7wireVentures has built a portfolio of 23 companies and a strategic coalition of over a dozen leading healthcare organizations.
- The firm has already completed three investments out of the new fund, including NOCD, FOLX Health, and Parsley Health.
- The new capital will enhance the firm’s existing mandate to invest in consumer-first, technology-enabled solutions that empower Informed Connected Healthcare Consumers.
Source: Business Wire
Notable Quotes
- “After nearly a decade of success, we are now prepared to double down on some of our fastest growing and most impactful companies while we continue to widen our aperture to exceptional later growth-stage opportunities across the industry.” – Glen Tullman, Founder/Managing Partner of 7wireVentures
- “Our continued partnership with 7wire allows us to accelerate our efforts to solve some of the country’s most pressing challenges in healthcare and support the innovative companies who are bringing the technology and ideas forward to do that.” – Craig Cimini, Head of The Cigna Group Ventures
SoH's Take
7wireVentures’ successful closure of a substantial $217 million fund underscores a robust and strategic move in the digital health investment landscape, particularly amidst the evolving dynamics of healthcare and technology. The firm, renowned for its consumer-driven digital health approach, is poised to enhance its investment in high-potential, later-stage companies, thereby potentially catalyzing innovative solutions within the digital health domain. This fund not only amplifies 7wireVentures’ financial prowess but also fortifies its strategic position in navigating and shaping the future trajectory of digital health. The investments in companies like NOCD, FOLX Health, and Parsley Health signal a targeted approach towards addressing niche healthcare needs through digital platforms, which could pave the way for more personalized and accessible healthcare solutions in the future. This move is emblematic of a broader trend, where venture capital firms are strategically aligning investments to navigate the complexities and opportunities within the digital health ecosystem.
