HC9 Ventures closed its first fund with $83 million to invest in healthcare software and services startups at seed and series A stages.
While healthcare funds are not unique, HC9 Ventures’ general partners say the VC firm is unique in its approach to leverage a deeply engaged investor community and industry expertise to help guide emerging companies.
“There are obviously many sources of capital for an emerging, early-stage business and we wanted to be different. What makes us unique are a few things. Predominantly, the composition of our capital is absolutely unique. We were intentional to bring together a community of healthcare leaders as our only source of capital,” Richard Lungen, co-founder and general partner of HC9, said in an interview with Fierce Healthcare.
“We are 125-plus healthcare leaders, name-brand people who have operated some of the most scaled institutions in healthcare, such as UnitedHealth Group, Anthem, LabCorp, Cigna, Express Scripts and private equity. Those folks have committed to their own personal capital exclusively, no institutional money whatsoever.”
