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Define Ventures is a venture capital firm headquartered in Silicon Valley, established to support early-stage health tech companies. Founded by Lynne Chou O'Keefe, a former partner at Kleiner Perkins, the firm emphasizes a technology-driven approach to healthcare. With approximately $800 million in assets under management, Define Ventures stands as one of the largest dedicated early-stage funds in the digital health sector.
The firm manages six funds and has a portfolio of 21 active companies. Define Ventures is committed to partnering with entrepreneurs who are innovating in healthcare delivery and improving patient outcomes. The firm’s notable milestones include significant exits such as Hims & Hers, Livongo, and Evolent Health.
Define Ventures invests exclusively in early-stage health tech companies, specifically targeting the incubation, seed, Series A, and Series B stages. The firm seeks to partner with entrepreneurs who leverage technology to transform healthcare delivery and improve patient outcomes. Their investment strategy emphasizes the convergence of healthcare and technology, focusing on sectors such as healthcare and digital health.
The firm looks for founders who possess deep industry knowledge and are committed to redefining healthcare through innovative solutions. Define Ventures is particularly interested in companies that address value-based care and consumer-driven healthcare models, ensuring that their investments align with impactful healthcare transformations.
Define Ventures has a diverse portfolio of companies that exemplify its focus on health tech innovation. Notable portfolio companies include:
Additionally, the firm has achieved significant exits, including Livongo, which was acquired by Teladoc for $18.5 billion, and Evolent Health, which is publicly traded.
Lynne Chou O'Keefe - Founder & Managing Partner. Former partner at Kleiner Perkins, with extensive experience in launching medical technologies globally.
Bruce Broussard - Venture Partner. Brings a wealth of knowledge in healthcare management and investment.
Frank Williams - Venture Partner. Experienced in scaling healthcare companies and driving strategic growth.
Carolyn Magill - Venture Partner. Focuses on operational excellence and strategic partnerships within the portfolio.
Chirag Shah - Partner. Specializes in technology integration in healthcare solutions.
Hong Truong - Principal. Engages in sourcing and evaluating investment opportunities.
Chuka Esiobu - Principal. Works on portfolio management and strategic initiatives.
Garrett Howard - Senior Associate. Supports due diligence and investment analysis.
Karsten Vagner - Head of People. Oversees talent acquisition and organizational development.
Shannon Knous - VP of Finance & Operations. Manages financial strategy and operational efficiency.
Katharine Morris - Administrative Assistant & Office Manager. Provides administrative support and office management.
To pitch Define Ventures, startups should visit their website at definevc.com. The pitch deck should include a clear overview of the technology, its market potential, and how it addresses specific healthcare challenges. While no specific application forms are mentioned, a well-structured presentation is crucial. Response times may vary, so founders should be prepared for potential follow-up discussions.
Define Ventures hosts several key events aimed at fostering innovation and collaboration in the health tech sector. Upcoming events include:
These events provide opportunities for networking, learning, and collaboration among health tech entrepreneurs and industry leaders.
In April 2023, Define Ventures raised $460 million across Fund III and the Opportunities Fund, reinforcing its commitment to early-stage health tech investments. The firm continues to actively invest in digital health companies, focusing on incubation, seed, Series A, and Series B stages.
Define Ventures has been featured in various industry publications, including MobiHealthNews and Fierce Healthcare, highlighting its significant role in the health tech investment landscape.
Q? What are Define Ventures' investment criteria?
A Define Ventures focuses on early-stage health tech companies, specifically in the incubation, seed, Series A, and Series B stages, with an emphasis on technology-driven solutions that improve healthcare delivery.
Q? How can startups apply or pitch to Define Ventures?
A Startups can pitch Define Ventures through their website at definevc.com. It is recommended to include a clear overview of the technology and its impact on healthcare in the pitch deck.
Q? What makes Define Ventures different from other VC firms?
A Define Ventures combines deep healthcare expertise with a technology-driven approach, focusing exclusively on digital health and leveraging a strong network to support portfolio companies.
Q? What is the geographic scope of Define Ventures?
A Define Ventures operates globally, with a particular focus on North America.
Q? What is the typical check size for investments?
A Specific check sizes are not disclosed, but the firm invests at early stages, which typically involves smaller initial investments that can grow with follow-on funding.
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