efine Ventures has raised $460 million
The United States spends more than $4 trillion on healthcare each year and that number is only expected to grow. This funding, which brings Define’s total assets under management to around $800 million, will be deployed in two ways: Fund III will focus on early-stage investments from incubation through Series B in new companies and an Opportunities Fund will focus on growth investments in existing portfolio companies.
Sometimes this takes the form of investments in companies that start as direct-to-consumer plays filling unmet healthcare needs for specific patient populations, such as women’s health startup Tia and LGBTQ health startup Folx Health. Over time, these companies take what they’ve learned about providing a better patient experience and shift to enterprise models selling into employers or partnering with health systems in order to scale.
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