US HealthVest, a US-based provider of psychiatric care, has raised $36m from a consortium including mutual fund manager Fidelity’s Biosciences corporate venturing unit.
Alongside Fidelity Biosciences in the round were venture capital firms Polaris Partners and Trevi Health Ventures and angel investors Richard Kresch, George Conrades, chairman of Akamai Technologies, and Jonathan Bush and Carl Byers, chief executive and former chief financial officer of Athenahealth.
Richard Kresch, who previously led and sold private psychiatric hospital provider Ascend Health, will run US HealthVest.
Jon Lim, partner at Fidelity Biosciences, said: “The US HealthVest team has a track record of combining high-quality mental health care with specialized programs and sound cost-structures.”
Separately, Fidelity’s Growth Partners Japan corporate venturing unit has invested in web traffic services provider Metaps’ Y1bn ($11m) series B round along with existing investors.