Every Monday we share a quick “best of” from the week that was with our Inner Circle members. What’s trending in the Femtech Insider community and beyond? We’ve got you covered! In this week’s brief we talk about how SteelSky Ventures Inaugural Fund, plus…
Undoubtedly the big news last week was the closing of Atlanta-based SteelSky Ventures inaugural fund. With $72M total assets under management SteelSky is now the world’s largest venture capital fund focused exclusively on improving access, care, and outcomes in women’s health.
💰 WHO INVESTED IN THE FUND?
The fund’s limited partners include an impressive roster of healthcare strategic investors, such as the American Hospital Association (AHA), Eli Lilly, Blue Shield of California, MultiCare Hospital System, Henry Ford Hospital System, and Essential Access Health.
The fund has also garnered investment from top-tier financial institutions, including Bank of America, JPMorgan Chase and Motley Fool Ventures. The fund’s advisors include Carter McClelland, former Chairman of Bank of America and Chief Administrative Officer of Morgan Stanley; Rick Mazjun, COO of Stanford Children’s Hospital; Hurley Doddy, CEO of Emerging Capital Partners and Kim Meredith, CEO of the San Francisco General Hospital Foundation.
🚀 WHO ARE STEELSKY’S PORTFOLIO COMPANIES?
Fund I may have only been announced last week, but SteelSky has been investing in women’s health companies for a while. Below is an overview of its portfolio companies to date:
Cayaba Care provides home-based maternal health services for underserved communities.
Lark is an AI platform for chronic care management, enabling women to make healthier choices and manage their conditions.
Twentyeight Health is an inclusive woman’s health telemedicine platform servicing the commercial market as well as the Medicaid and uninsured.
Motivo is the largest platform for therapist telesupervision, connecting pre-licensed therapists with clinical supervisors through secure video conference.
Raydiant Oximetry significantly improves the accuracy of fetal distress monitoring, reducing the 99% of unnecessary emergency C-sections due to inaccurate fetal monitors.
Zipline is a next-generation drone delivery platform creating greater access to prescription medicine and lifesaving medical products.
23andMe leverages an ethnically diverse and gender diverse data set to help inform the development of new drugs and therapies.
Origin is a digital-first physical therapy platform bridging the care gap from maternity through menopause.
Ruby Love is a period apparel company rooted in the belief that periods should never stop women from doing, being and going.
Proov develops clinically proven, at-home diagnostic tests and products to support a successful pregnancy.
Mae is a culturally competent care platform for expectant mothers of color.
ConcertoCare offers in-home primary care, virtual primary care and Program of All-Inclusive Care for the Elderly (PACE) services to dual-eligible seniors and those enrolled under Medicare Advantage.
Huma.AI is an analytics tool to expedite drug development, benefiting underserved areas such as women’s health.
Bend Health is a virtual mental health clinic for women and their families.
Joylux is a menopausal platform offering life-changing solutions anchored by clinically proven, proprietary technology-driven devices.
TheraB developed Snuglit, an innovative blanket that delivers bilirubin lights in the form of a portable blanket so mothers can stay connected to their babies as they receive this life saving treatment.
Huh! That was a long list! But we’re sure many of you will be interested in checking out a couple of companies mentioned above. 👀
💸 WHAT KINDS OF COMPANIES IS STEELSKY LOOKING TO INVEST IN THIS YEAR?
We recently checked in with Maria Velissaris to learn more about what areas in the women’s health space she is particularily excited about right now and looking to invest in this year. Here’s what she said:
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