Black Opal Ventures Founders Dr. Tara Bishop and Eileen Tanghal. Image: Black Opal Ventures

New York-based venture capital firm Black Opal Ventures (BOV) has launched a health-tech fund aimed at advancing the healthcare sector through technology. The fund, co-founded by MIT alumnae Dr. Tara Bishop and Eileen Tanghal, has raised $58M to date and has attracted capital from major institutions like Eli Lilly and Company, Bank of America, and others.

Black Opal Ventures’ primary focus is on early-stage companies that integrate healthcare with technology, aiming to tackle substantial challenges such as unmanaged diseases, medical errors, and health disparities. By investing in companies that can improve healthcare access, quality, and affordability, BOV wants to influence the future landscape of healthcare.

The fund’s strategy includes investments in companies developing innovative solutions across various healthcare segments, including oncology, neurology, obesity, and infertility. Firms like Intellihealth and Conceivable Life Sciences are among the nine strategic investments made so far. BOV aims not only to provide capital but also to offer a network of industry expertise and resources to support these startups.

The founders, Bishop and Tanghal, combine a wealth of experience in the healthcare and venture capital industries. Dr. Bishop has an extensive background in healthcare leadership and digital health, while Tanghal brings two decades of experience in global investment. Together with executive advisor Simon Segars, former CEO of Arm, they bring a unique blend of medical and technological expertise to BOV.

“We are identifying start-ups that we believe will make a difference in healthcare, and our fund is giving them the boost they need to continue their great work. We are confident they can change the industry for the better,” explains Bishop. “It is exciting to be helping to enable improvements in healthcare access, quality, and cost through the use of cutting-edge technology.”

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