In an era where the digital transformation of healthcare has become increasingly imperative, 7wireVentures is taking a substantial step forward in supporting high-potential companies that are leading the charge. The venture capital firm, known for its commitment to fostering innovation in the healthcare sector, has recently raised a new investment vehicle – a $217M Growth & Opportunity Fund (GO Fund). The new funds will support the growth of existing portfolio companies while also backing compelling Series B and C firms. As a result, the firm’s Assets Under Management (AUM) now surpass the $500M mark.
7wireVentures, co-founded over a decade ago by serial entrepreneurs Glen Tullman and Lee Shapiro, has curated an impressive portfolio comprising over 20 companies. Their market strategy, due diligence processes, and commercial relationships are strategically driven by the Connected Consumer Health Coalition, a formidable consortium comprising more than a dozen leading healthcare organizations united in their mission to impact the health and care of millions of Americans. With Partners Robert Garber and Alyssa Jaffee also at the helm, 7wireVentures brings to the table a unique blend of sector expertise, operational experience, and deep industry relationships. Their focus is on investing in consumer-centric, technology-enabled health and care solutions.
Managing Partner Lee Shapiro commented: “With several companies in our portfolio sitting at the precipice of tremendous growth, we could not be more pleased to announce the closing of our latest fund. We have developed a time-tested strategic and tactical playbook that has been proven out across market cycles, in partnership with transformative leaders and founders.”
Co-founder Glen Tullman added: “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 has recently strengthened its operational model by bringing on board two new Operating Partners, Tom Richards, previously SVP and Global Lead of Strategy and Business Development at The Cigna Group, and Dan Michelson, former CEO of Strata Decision Technology.
Robert Garber, Partner of 7wireVentures shared: “At 7wire, we invest in companies that transform patients into Informed Connected Health Consumers. We believe that the combination of technology, information, and appropriately aligned incentives empower consumers to be in the driver’s seat of their healthcare journeys. This enables a stronger healthcare system that supports better outcomes at a lower cost. At the end of the day, it’s about improving the health of all of us as consumers, not as patients.”
The GO Fund has already completed three investments, including current portfolio company NOCD, a specialty mental illness company focused on obsessive-compulsive disorder. Additionally, it has supported FOLX Health, the market’s first virtual healthcare platform catering to the needs of the LGBTQIA+ community, and Parsley Health, a specialized virtual clinic designed to improve the health and well-being of complex chronic patients while reducing the overall cost of care.
Alyssa Jaffee, Partner of 7wireVentures, underscored the firm’s dedication to making a positive impact in the healthcare sector, stating: “Part of what motivates us is the unique opportunity in healthcare to do well by doing good, so we invest in companies that have passionate founders who are looking to make a positive change in the world. Ultimately, the Founders and their missions are what we’re backing, and we’re pleased to do so with FOLX, NOCD, Parsley, and more.”
