Livongo backer's new firm closes on $87M for debut healthtech fund
January 13, 2020
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Monday marks the kickoff for what some call the Super Bowl of healthcare investing events. J.P. Morgan's annual, weeklong conference in San Francisco is expected to bring together more than 4,000 investors and some 400 companies, both public and private.
Investors are gathering at a time of unprecedented dealmaking in healthtech, a market that saw a record-setting $7.6 billion bet on US venture-backed startups last year across 659 deals, according to PitchBook.
Lynne Chou O'Keefe, a former health-focused partner with Kleiner Perkins, will be on hand at J.P. Morgan talking up her new firm, Define Ventures, which is focused on early-stage digital health activity and just raised $87 million to close its first fund. O'Keefe led Kleiner's investment in Livongo, the diabetes- and hypertension-management platform company that went public last year after raising more than $230 million in venture funding.
O'Keefe, who remains on Livongo's board, said San Francisco-based Define will lead some deals and will write checks ranging from $750,000 to as large as $6 million. Its first investments since launching last year include men's health specialist Hims, women's health platform Tia and Unite Us, which helps coordinate health coverage among various providers.
Investors are gathering at a time of unprecedented dealmaking in healthtech, a market that saw a record-setting $7.6 billion bet on US venture-backed startups last year across 659 deals, according to PitchBook.
Lynne Chou O'Keefe, a former health-focused partner with Kleiner Perkins, will be on hand at J.P. Morgan talking up her new firm, Define Ventures, which is focused on early-stage digital health activity and just raised $87 million to close its first fund. O'Keefe led Kleiner's investment in Livongo, the diabetes- and hypertension-management platform company that went public last year after raising more than $230 million in venture funding.
O'Keefe, who remains on Livongo's board, said San Francisco-based Define will lead some deals and will write checks ranging from $750,000 to as large as $6 million. Its first investments since launching last year include men's health specialist Hims, women's health platform Tia and Unite Us, which helps coordinate health coverage among various providers.
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