Providence Ventures, the Seattle, Wash.-based venture capital arm of Providence St. Joseph Health (PSJH), the nation’s third largest health system, announced today a second $150m health care venture capital and growth equity fund.
Providence Ventures II will target early and growth-stage health care companies that specialize in health care information technology, technology-enabled services, medical devices, and health care services.
The fund will also invest $5 to $15 million per Portfolio Company with flexibility to lead investment rounds or participate as a syndicate partner.
Led by Aaron Martin, Managing General Partner, Providence Ventures has invested in fifteen portfolio companies and co-invested with over twenty-five health care venture capital firms since its creation in 2014.
It manages an aggregate $300 million to fund innovative health care companies with solutions that make an impact on health outcomes, lowering costs and enhancing patient experience.
The firm is based in Seattle, with an additional office in Silicon Valley.
The team also includes:
– Aaron Martin, Managing General Partner
– Jeff Stolte, Senior Partner
– Dan Galles, Partner
– David Kereiakes, Partner
– Cyril Philip, Principal
– Rich Proscia, Senior Associate
The team will be expanding further with additional hires planned in early 2019.