Venture capital firm raises $460M to target digital health

Venture capital firm raises $460M to target digital health unknown

Define Ventures, a venture capital firm targeting digital health companies, closed on its Fund III and Opportunities Fund, totaling $460 million.

The latest round of fundraising brings the company's total assets under management to $800 million. Define Ventures invests in companies in the incubation, seed, series A and series B stages, according to an April 18 Define Ventures news release.

Currently, Define Ventures is partnered with 21 companies.

"The healthcare system is evolving rapidly as multiple healthcare, technology and consumer trends converge, and even with the progress over the last few years, it remains a $4 trillion market opportunity that desperately needs greater digital transformation," Lynne Chou O'Keefe, founder and managing partner at Define Ventures, said in the release. "At Define Ventures, we are at the center of that convergence and combine the best of Silicon Valley thinking and deep healthcare operating experience to better understand how enterprise and consumer models will intersect to become the future of healthcare."