OSF Ventures Launches $100M Third Venture Capital Fund

venture capital

OSF Ventures, a Peoria, IL-based venture capital firm, launched its third fund.

The $100m fund will be used to continue a strategy that links investments to key priorities of improved patient care, outcomes and greater operational efficiency. The third fund brings total assets under management in the venture program to $250 million.

Led by Stan Lynall, vice president of Venture Investments, and his seven-person team, OSF Ventures is part of the Innovation strategy of OSF HealthCare, a 15-hospital system in Illinois and Michigan. Investments are focused on digital solutions, tech-enabled services and medical technology, including medical devices, diagnostics and therapeutics.

The corporate investment arm of OSF HealthCare has made 26 direct investments to-date, plus it has invested in three health care-focused venture capital funds. Of the direct investments, the program has experienced nine successful exits, and today manages an active portfolio of 17 companies.

OSF HealthCare is an integrated health system owned and operated by The Sisters of the Third Order of St. Francis, headquartered in Peoria, Illinois. OSF HealthCare employs nearly 24,000 Mission Partners in 150 locations, including 15 hospitals – ten acute care, five critical access – with 2,089 licensed beds, and two colleges of nursing throughout Illinois and Michigan. The OSF HealthCare physician network employs more than 1,500 primary care, specialist and advanced practice providers. OSF HealthCare, through OSF Home Care Services, operates an extensive network of home health and hospice services. It also owns Pointcore, Inc., comprised of health care-related businesses and OSF HealthCare Foundation, the philanthropic arm for the organization.