Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund by katiedjennings
he past few weeks have been marked with layoffs and rescinded job offers from a number of major technology companies. The digital health industry has been no exception to this trend: primary care unicorn Carbon Health, medical billing processor Cedar and virtual care company Ro, among many others. The war in Ukraine, supply-chain hurdles and an end to most pandemic restrictions in the U.S. and Europe have taken their toll.Hemant Taneja, however, isn’t worried.
In February, General Catalyst raised $4.6 billion for its 11th general fund, which will co-invest alongside the two healthcare funds, in company creation, seed, early-stage and growth. The firm, which has raised $14.75 billion in its over 20-year history, reported $33.3 billion in regulatory assets under management at the end of 2021.
Digital health investing has reached an inflection point where the frothiness of the past few years is going to settle and the enduring digital health companies are going to be separated from the low-hanging fruit, says Chris Bischoff, a managing director at General Catalyst, who oversees the firm’s healthcare strategy.
In the digital health sector, the firm is looking to recreate the success it had with the chronic disease management company Livongo, which Taneja incubated in General Catalyst’s offices with health industry veteran Glen Tullman in 2008. Livongo’s main selling point to employers was that it would help diabetic employees better manage the condition through a combination of software and human coaches and reduce overall costs.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Christie's launches venture fund, makes first investment in web3 companyThe auction house's VC arm made its nvestment will be in a blockchain interoperability startup called LayerZero Labs.
Read more »
Attorney General Wants to Hold New Orleans’ Funds Hostage for Defying Abortion BanLouisiana’s Republican attorney general Jeff Landry is so outraged that New Orleans would attempt to defy the state’s abortion ban that he’s asked for funds to be withheld from the city.
Read more »
Christie's launches venture fund aimed at Web3 and blockchain investmentsChristie’s Ventures will back firms in Web3, “art related financial products and solutions,” and technology related to art and luxury goods.
Read more »
Tribe Capital Hires Republic Capital Co-Founder Revsin as Managing PartnerEXCLUSIVE: _rcapital_ co-founder Boris Revsin has joined Tribe Capital as a managing partner overseeing equity and crypto funds and the new crypto incubator. BrandyBetz reports
Read more »
Kyle Davies' wife and Su Zhu are both creditors in the 3AC bankruptcyThe collapsed hedge fund owes $5 million to co-founder Su Zhu and $65.7 million to co-founder Kyle Davies’ wife.
Read more »
Comics for Docs: Medical Cartoons Poke Fun at Today's PracticesA family physician and healthcare executive turns everyday healthcare hassles into humor.
Read more »