7wireVentures, a digital health-focused venture capital firm, has raised $150m for the close of its latest Connected Consumer Health Fund, which is backed by several undisclosed strategic investors from the healthcare and life science sectors.
Limited partners for the fund included unnamed health plans, healthcare providers, self-insured employers and life sciences companies.
The firm said on its website that its strategic limited partners include health insurers Arkansas BlueCross BlueShield, Horizon Blue Cross Blue Shield of New Jersey and Cigna, as well as healthcare providers Spectrum Health, Allina Health, Bon Secours Mercy Health, Memorial Hermann Health System and Rush University Medical Center.
It is unclear whether these corporates are committed to the new fund, however, they have partnered 7wireVentures through its Connected Consumer Health Coalition.
Founded in 2011, 7wireVentures is focused on early-stage healthcare companies that prioritise the consumer and leverage technology.
The firm has already deployed capital from the fund in two investments to date: Transcarent, a US-based, consumer-focused healthcare platform operator, and Jasper Health, a US-based cancer treatment management platform provider.
Lee Shapiro, a managing partner at 7wireVentures, said: “Individuals are bearing the burden of the fragmented and disparate system and face enormous obstacles in accessing high-quality care.
“These challenges provide an unprecedented opportunity to apply technology and drive innovation to address these systemic problems.
“Our newest 7wireVentures fund will allow our firm to grow companies that enable a superior consumer-directed health and care experience and address the problems of healthcare.”
The VC firm previously closed the $100m 7wire Connected Consumer Health Fund in 2018.