Digital Health-Focussed VC Firm 7wireVentures Launches a $217 Million Fund to Support Late-Stage Startups

The new fund will further support the venture's existing mandate to invest in consumer-centric, technology-driven solutions that empower Informed Connected Healthcare Consumers.

US leading healthcare-focussed venture capital firm, 7wireVentures has raised $217 million for its latest -Growth & Opportunity Go Fund, its largest to date. 

This new fund is strategically positioned to provide support to later-stage digital health investments. It aims to back high-potential companies within its existing portfolios and explore new investment opportunities.  

Moreover, the fresh capital will further support the venture's existing mandate to invest in consumer-centric, technology-driven solutions that empower Informed Connected Healthcare Consumers.

Reportedly, the VC firm has already invested from its Growth and Opportunity Go Fund in three digital health companies including its current portfolio company, NOCD, a speciality mental illness company focussed on obsessive-compulsive disorder.

Additionally, the VC firm supports FOLX Health, the market's first virtual healthcare platform which addresses the needs of the LGBTQIA+ community, and Parsley Health, a specialised virtual clinic designed to help complex chronic patients get better and feel better while reducing the total cost of care.

This latest fund follows a $150 million fund successfully raised by 7wireVentures in 2021 and a $100 million fund secured by the firm in 2018. With the closing of the $217 million. Growth and Opportunity Go Fund, the Firm's total assets under management (AUM) has now exceeded $500 million.

Sharing his views, Glen Tullman, managing partner, 7wireVentures, said, "We are excited to announce the successful closing of our new Growth & Opportunity Fund '“ affirming investors' continuing belief in our consumer-driven digital health approach. 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."

7wireVentures, headquartered in Chicago, Illinois, USA, was founded by serial entrepreneurs Glen Tullman and Lee Shapiro.

The firm invests in early-stage digital health companies that empower consumers to take charge of their health and wellness. They have built a portfolio of 23 companies and a strategic partnership with more than a dozen leading healthcare organisations. 

7wireVentures has made several investments in the past. Just a few days back, they invested in Chicago-based digital gastrointestinal health company, Vivante Health's Series B round, which raised $31 million. With this, the company plans to expand its commercial and client support teams along with onboarding support for new employers, health plans, and channel partners seeking better solutions for reducing the personal and financing toll of digestive disease.

Earlier this year, 7wireVentures invested in Caraway's Series A round, which raised $16.8 million. Then in January, they led NOCD's Series B round, which raised $34 million.

Looking back in 2022, 7wireVentures led Override's Seed Round, which raised $3.5 million, PayZen's Series B round, which raised $20 million and Folx Health's Series B round, which raised $30 million.

These investments reflect the firm's commitment to supporting early and growth-stage companies focused on healthcare IT, digital healthcare and mobile health. The firm has made a total of 63 investments so far.