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Physicians Capital Fund, also known as PhyCap Fund, is an early-stage healthcare venture capital fund founded in 2024 by a team of physicians and allied health professionals. Based in Tulsa, Oklahoma, the fund is designed to empower medical professionals to take an active role in healthcare innovation through strategic investments. The fund's unique positioning emphasizes the importance of physician-operator credibility, which serves as a competitive edge in the healthcare technology sector.
Currently, PhyCap Fund manages approximately $10 million in assets under management (AUM) and focuses exclusively on early-stage healthcare ventures. The fund is co-managed by FortySix Venture Capital, which provides additional operational support and expertise. PhyCap Fund's investment strategy is centered on bridging the gap between technology innovators and healthcare providers, ensuring that investments align with the needs of independent medical practices.
PhyCap Fund specializes in early-stage healthcare ventures, specifically targeting Seed and Series A funding rounds. The fund allocates capital ranging from $150,000 to $500,000, focusing on technologies that enhance healthcare delivery. Key areas of interest include clinical care delivery workflow optimization, Software as a Medical Device (SaMD), and initiatives addressing women's health and health inequity. Notably, the fund explicitly excludes investments in life sciences or pharmaceuticals, allowing it to concentrate on health tech innovations that empower independent medical practices.
The fund seeks to invest in companies that demonstrate a clear understanding of the challenges faced by independent physicians and clinics. PhyCap Fund values founders who possess deep domain expertise and a commitment to improving patient outcomes through innovative solutions. The fund's investment thesis emphasizes the importance of practical applications in healthcare technology, ensuring that portfolio companies can effectively address real-world challenges in clinical settings.
As of now, PhyCap Fund has not disclosed specific portfolio companies, as it is still in its early stages with a 2024 vintage. The fund is actively seeking early-stage investments in healthcare technology, particularly those that align with its focus on optimizing healthcare delivery. While no specific companies have been mentioned, the fund's strategy suggests that it is likely to invest in startups that enhance clinical workflows, improve patient experiences, and address health inequities.
Given the fund's emphasis on supporting independent medical practices, potential portfolio companies may include those developing innovative software solutions for practice management, point-of-care tools, and patient communication platforms. The absence of disclosed investments at this stage reflects the fund's nascent status, but it is expected to build a diverse portfolio of healthcare technology companies in the near future.
Paul Slosar, MD MHCDS - Co-founder and General Partner of PhyCap Fund, Dr. Slosar specializes in orthopedics and spine surgery. He also serves as a Partner at FortySix Venture Capital, bringing extensive clinical experience to the fund.
Robin Noble, MD MHCDS - A co-founder and General Partner, Dr. Noble has expertise in obstetrics and gynecology. Her clinical background informs the fund's investment decisions in women's health technologies.
Fred Liss, MD - Specializing in orthopedics and hand surgery, Dr. Liss contributes valuable insights into the needs of surgical practices and the technologies that can enhance their operations.
Vipul Kella, MD MBA - An expert in emergency medicine, Dr. Kella's experience helps the fund identify innovations that can improve emergency care delivery.
Joseph Jasser, MD MBA - Specializing in internal medicine, Dr. Jasser brings a comprehensive understanding of primary care challenges and opportunities for technological advancements.
Dutch Rojas - A multi-exit founder of healthcare companies, Rojas provides entrepreneurial insights and strategic guidance to portfolio companies.
Jerald Dawkins, Ph.D - A multi-exit founder with expertise in digital health and cybersecurity, Dr. Dawkins enhances the fund's focus on technology-driven healthcare solutions.
Tim Martens, MD Ph.D - Specializing in pediatric cardiothoracic surgery, Dr. Martens offers insights into pediatric healthcare innovations.
Alex Tang, PA-C MBA - A physician assistant with a business background, Tang contributes to the fund's understanding of clinical operations and practice management.
Giovanni Lorenz, MD - An expert in radiology and cardiothoracic surgery, Dr. Lorenz provides insights into imaging technologies and their applications in clinical settings.
To pitch PhyCap Fund, founders should utilize the online contact form available at phycapfund.com/contact or send an email to info@46.capital. It is essential to include a comprehensive pitch deck that outlines the business model, market opportunity, and how the technology addresses specific healthcare challenges. Founders can expect a response within a reasonable timeframe, although the fund's physician-led team may require additional time to review pitches thoroughly.
Warm introductions are encouraged, especially from individuals within the healthcare sector, as they can enhance the credibility of the pitch. Founders should be prepared to discuss their technology's validation process and how it aligns with the fund's focus on independent medical practices.
In November 2024, PhyCap Fund officially launched, marking its entry into the healthcare venture capital space. The fund aims to support early-stage healthcare innovations that empower independent medical practices. Dr. Paul Slosar, a co-founder, discussed the fund's mission in a podcast episode released in January 2025, highlighting the importance of physician-led investment strategies in healthcare.
As the fund continues to build its portfolio, it is expected to announce its first investments in early-stage healthcare ventures in the coming months. The focus will remain on technologies that enhance clinical care delivery and address the needs of independent physicians.
What are the investment criteria for PhyCap Fund?
PhyCap Fund invests in early-stage healthcare ventures, specifically targeting Seed and Series A funding rounds. The fund focuses on technologies that enhance healthcare delivery, such as clinical workflow optimization and Software as a Medical Device (SaMD). It explicitly excludes investments in life sciences and pharmaceuticals.
How can I apply or pitch to PhyCap Fund?
Founders interested in pitching to PhyCap Fund can reach out via their online contact form at phycapfund.com/contact or email them directly at info@46.capital. It is advisable to include a detailed pitch deck outlining the business model, market opportunity, and how the technology addresses specific healthcare challenges.
What makes PhyCap Fund different from other healthcare investors?
PhyCap Fund is unique in that it is founded and managed by practicing physicians and allied health professionals. This insider perspective allows the fund to validate healthcare technologies effectively and provides portfolio companies with direct access to clinicians who can refine their products for the market.
What is the geographic focus of PhyCap Fund?
The fund focuses exclusively on investments within the United States, targeting healthcare innovations that cater to independent medical practices across the country.
What is the typical check size for investments?
PhyCap Fund typically invests between $150,000 and $500,000 in early-stage healthcare ventures. This check size is designed to support startups in their initial growth phases, allowing them to develop and scale their technologies effectively.
What kind of support can portfolio companies expect from PhyCap Fund?
Portfolio companies benefit from the fund's strong network of practicing clinicians who can provide insights and validation for their technologies. This access enhances the credibility of startups when selling into independent physician practices, which can be challenging markets for health tech innovations.
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