7wireVentures launches $217-million digital health fund to support later-stage startups

7wireVentures on Tuesday announced the launch of its $217-million growth and opportunity "GO" fund for digital health companies. The venture capital firm said the new capital will support later-stage investments in high-potential companies from existing portfolios, as well as new opportunities. The closing of its largest fund to date brings the firm's assets under management to more than $500 million.

"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," remarked managing partner Glen Tullman.

Since its founding over a decade ago, 7wire has built a portfolio of 23 companies and a strategic coalition of over a dozen healthcare organisations, with former Cigna executive Tom Richards recently joining the firm as an operating partner. 7wire helped identify and grow chronic-care company Livongo, which Teladoc acquired in 2020 for $18.5 billion.

Three investments completed

Although 7wire is known for early-stage investing, the latest fund will back 10 to 12 later-stage startups, with the firm already completing three investments. 7wire supported mental health company NOCD with its Series C round, as well as digital healthcare service provider FOLX Health, which raised $30 million last year, and virtual clinic Parsley Health.

Last week, Debiopharm Innovation Fund launched a new seed funding initiative aimed at transforming pharmaceutical R&D and advancing digital innovation in cancer care. 

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