Ascension Ventures (AV) has closed its latest strategic venture capital fund at $255m.
This fourth fund, CHV IV, L.P., received commitments from 13 health system partners including Adventist Health System, Carle Foundation, Catholic Health Initiatives, CentraCare Health, Children’s Medical Center of Dallas, Dignity Health, Inova Health System, Intermountain Healthcare, Mercy, Novant Health, OhioHealth and OSF HealthCare.
Launched in 2001 by Ascension, the nation’s largest Catholic and nonprofit health system, AV invests in healthcare companies that provide services and solutions that help health systems in the areas of healthcare IT, healthcare services, and medical devices. To date, the firm has raised three successive funds, investing in more than 55 companies.
AV, which has over $800m in total assets under management, is led by Senior Managing Director Matt Hermann.