Top VCs in Healthcare 2025: A guide to the firms defining the industry.

Get a quick snapshot of top healthcare VC segments,who they are, what they invest in, and at which stages, making it easy to track where healthtech funding is heading.

Across healthcare, you’ll find a steady flow of talent, data, and capital revolving around ideas that can move the industry forward.

According to Allied Market Research, the global healthtech market was valued at $908.5 billion in 2023 and is expected to reach $3.14 trillion by 2033, with a projected 13.1% CAGR. The category covers everything from electronic health records and telemedicine to wearables and consumer health apps tools that bring care closer to people and make clinical work more efficient.

Healthcare investing covers multiple fields, each shaped by its own scientific depth, completely different risk profiles, and return timelines. Some firms are built for deep science and platform bets. Others specialize in infrastructure, services, or novel care delivery models. And a growing group sits at the intersection of consumer behavior, data, and clinical operations.

If you’re mapping the ecosystem, benchmarking your own strategy, or simply keeping tabs on where capital is flowing, this guide gives you a precise snapshot of the firms shaping each corner of healthcare.

Here’s the full breakdown.

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Biotechnology, Life Sciences, & Therapeutics

These firms sit at the center of today’s life science innovation, backing founders who work at the intersection of advanced biology and technical depth. Each one brings a clear focus on programs grounded in strong data, careful experimentation, and practical paths toward clinical use.

Sequoia Capital

Sequoia Capital backs life science teams using advanced biology and AI to rethink how new medicines are discovered and developed. The firm supports companies working in precision genetics, oncology, and computational drug creation. With a history of guiding companies from early research through public markets, Sequoia provides long-term partnership for founders tackling some of the most complex problems in human health.

• Target Stages: Pre-Seed/Seed, Early, Growth, IPO.

• Location: California.

• Healthcare projects backed:

  • BridgeBio (genetic disease therapeutics).

  • Guardant Health (oncology diagnostics).

  • Natera (DNA testing in women’s health/oncology).

  • Xaira (AI-native drug R&D).

  • Formation Bio (AI-native pharma).

Perceptive Advisors

Perceptive Advisors is a life sciences investment firm that directs capital toward biotechnology, diagnostic, and medtech companies grounded in strong scientific evidence. Since 1999, the team has combined deep research skills with clinical and technical expertise to evaluate opportunities across both private and public markets. With roughly US$8 billion under management, Perceptive supports founders working on treatments and technologies that can meaningfully advance patient care.

• Target Stages: Early, Growth, Public (full capital structure).

• Location: New York, NY .

• Healthcare projects backed:

  • 4DMT (AAV vectors for gene therapy).

  • Athira Pharma (neurodegenerative therapeutics.

  • Crinetics Pharmaceuticals (rare endocrine therapeutics).

  • MyoKardia (precision cardiovascular medicine acquired by Bristol Myers Squibb).

Two River

Two River invests in life science companies built on strong scientific foundations and leadership teams with a history of turning complex ideas into clinical progress. The firm focuses on next-generation cell-based therapies for cancer and immune-driven conditions. By staying closely involved in product planning, regulatory strategy, and operational decisions, Two River supports its partners as they advance programs toward meaningful patient outcomes.

• Target Stages: Seed, Early, Growth.

• Location: New York, NY.

• Healthcare projects backed:

  • Kite Pharma (CAR-T; acquired by Gilead).

  • Neogene Therapeutics (TCR-Ts; acquired by AstraZeneca).

  • Allogene Therapeutics (allogeneic CAR-T).

  • Kronos Bio (first-in-class cancer therapeutics, acquired by Concentra Biosciences).

Lux Capital

Lux Capital invests in science-driven and technology-driven companies that push the boundaries of what’s possible in human health, biology, and robotics. The firm supports teams working on new approaches to drug discovery, protein tracking, and engineered biology. By partnering across all stages, Lux helps founders move complex scientific ideas into practical solutions with clear clinical and research value.

• Target Stages:All stages.

• Location: New York, NY & Silicon Valley, CA.

• Healthcare projects backed:

  • Auris Health (robotic surgery; acquired by J&J).

  • Eikon Therapeutics (live-cell protein tracking).

  • Recursion Pharma (bio/ML drug discovery; IPO 2021).

  • Kallyope (gut-brain axis biotech).

  • Aera Therapeutics (genetic medicines).

Time BioVentures

Time BioVentures is a Southern California–based venture capital firm investing in life science founders developing technologies with clear potential to shift patient outcomes. The firm concentrates on areas where strong science and thoughtful engineering can meaningfully extend health and quality of life. By staying close to the science and the teams behind it, Time BioVentures backs programs that aim to deliver tangible clinical value.

• Target Stages: Seed, Early, Growth (implied venture capital model).

• Location: California.

• Healthcare projects backed:

  • Phantom Neuro (motor-control neurotech).

  • BillionToOne (molecular diagnostics).

Angelini Ventures

Angelini Ventures is the global investment arm of Angelini Industries, committing €300 million to BioTech and Digital Health founders working on clinically meaningful solutions. The firm focuses on programs that improve patient experience and address gaps in care for vulnerable populations. By combining scientific insight with international reach, Angelini Ventures supports teams aiming to bring practical, high-impact technologies into everyday clinical use.

• Target Stages: Venture Capital (builds + invests).

• Location: Rome & Singapore.

• Healthcare projects backed:

  • Freya Biosciences (women’s health).

  • CoMind (brain-monitoring technology).

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Health System Infrastructure, IT, & Services

This classification covers firms that invest in care-delivery models, payer solutions, and service platforms designed to improve access, coordination, and cost management for high-need populations across Medicare, Medicaid, and commercial settings.

Oak HC/FT

Oak HC/FT is a growth equity firm investing across both healthcare and financial services, with a dedicated focus on companies that bring practical improvements to each sector. In healthtech, they support teams working on Medicare Advantage, women’s health, and rural primary care, including Devoted Health, Maven Clinic, and Main Street Health. With deep experience in both domains, Oak HC/FT works closely with founders as they build organizations that can scale responsibly and serve large, complex populations.

• Target Stages: Growth; also active in early partnerships.

• Location: Connecticut.

• Healthcare projects backed:

  • Devoted Health (Medicare Advantage payvider).

  • Galileo (24/7 mobile-first care).

  • Maven Clinic (virtual women’s health).

  • CareBridge (value-based LTSS care).

  • Main Street Health (rural VBC primary care).

a16z Bio + Health

a16z Bio + Health is the healthcare arm of Andreessen Horowitz, investing in teams using software, data, and automation to improve how care is accessed, coordinated, and paid for. Their focus spans AI in clinical workflows, virtual-first care, healthcare–fintech models, provider tools, and services that bring care closer to where people live. By working directly with founders on product, operations, and system-level strategy, a16z Bio + Health supports companies aiming to deliver clear, practical gains in cost, quality, and clinician capacity.

• Target Stages: Seed → Growth → Exit.

• Location: California.

• Healthcare projects backed:

  • Counsel Health (AI-centric clinician workflows).

  • Slingshot AI (psychology foundation model).

  • Function Health (longitudinal health platform).

  • Thatch (healthcare × fintech).

Town Hall Ventures

Town Hall Ventures invests in companies addressing long-standing gaps in care for underserved groups, including frail seniors, rural communities, and students who need consistent mental health support. The firm concentrates its time and capital on a select number of teams building practical, scalable models. Drawing on experience across both public and private healthcare settings, Town Hall Ventures works closely with founders to help them navigate complex populations and delivery environments.

• Target Stages:Venture/Growth.

• Location: New York, NY.

• Healthcare projects backed:

  • Marble (school-based mental health).

  • Zing Health (C-SNP Medicare Advantage).

  • Cityblock Health (integrated care for underserved).

  • Thyme Care (cancer care navigation).

Maverick Ventures

Maverick Ventures is a venture firm that supports founders from the earliest stages through later capital milestones, working closely with a small number of companies each year. Their healthcare work includes tech-enabled Medicare Advantage models, direct-to-consumer telemedicine platforms like Hims, and primary-care groups such as One Medical. With a unified public and private investment team, Maverick Ventures offers companies steady guidance across market cycles and stages of growth.

• Target Stages: Seed → IPO.

• Location: San Francisco, CA & New York, NY.

• Healthcare projects backed:

  • One Medical (Acquired by Amazon).

  • Hims & Hers (DTC telemedicine).

Pinta Capital Partners

Pinta Capital Partners is a private equity firm founded by healthcare operators who focus on supporting companies that improve care quality and patient experience. The firm invests across the full company lifecycle (from early formation to buyout) in areas such as skilled nursing, in-home care, digital health, care management, diagnostics, and behavioral health. With direct operating experience and a strong industry network, Pinta works closely with founders and management teams to build organizations that can serve patients reliably and at scale.

• Target Stages: Seed → Buyout.

• Location: New York, NY.

• Healthcare projects backed:

  • My Laurel (In-home care models for frail/complex patients).

  • Longevity Health (SNF-focused Medicare plan).

  • ThirdWave Rx (Tech-enabled pharmaceutical rebate management).

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Digital Health, Health IT & Infrastructure

This section includes firms that invest in enterprise software and AI-driven infrastructure built for health systems, payers, and provider groups, with a focus on improving operations, clinical workflows, and financial performance.

Digital Health Venture Partners (DHVP)

Digital Health Venture Partners (DHVP) is a seed-stage firm that invests in healthcare software and AI-driven services aimed at solving operational and clinical bottlenecks. They work with founders who are building clear, practical tools that expand access, strengthen care delivery, and reduce unnecessary costs. With a team that includes investors, operators, and former policymakers, DHVP offers early companies targeted guidance on product focus, regulatory context, and go-to-market strategy.

• Target Stages: Seed

• Location: Washington, D.C.

• Healthcare projects backed:

  • ArcHouse (hospice ops).

  • Brellium (AI compliance).

  • Claim Health (post-acute billing automation).

  • Cybexys (AI risk adjustment).

  • UrgentIQ (AI-native EMR).

General Catalyst (GC)

General Catalyst (GC) is an investment firm that works with founders across all stages, from new company creation through growth, with a focus on applied AI and system-level problem solving. The firm’s healthcare work centers on its Health Assurance effort, which supports models that make care more proactive and accessible. Through initiatives like TransformationPercepta, GC also partners with institutions seeking to apply AI in ways that strengthen clinical operations and long-term sustainability.

• Target Stages: Create, Seed, Grow

• Location: Six global offices.

• Healthcare projects backed:

  • August Health (Specialized EHR for senior care providers).

  • Aidoc (enterprise-wide AI platform for medical professionals).

  • BrightInsight (Regulated digital health platform that develop, launch, and scale their SaMD).

Aegis Ventures

Aegis Ventures is a New York–based venture studio that builds healthtech companies in close partnership with entrepreneurs and major health systems. Their focus is on AI-driven tools that address practical challenges such as using real-world data effectively, improving patient interactions, and automating routine clinical and administrative tasks. By combining capital, domain insight, and direct access to health-system partners, Aegis helps new companies validate needs early and scale with clear operational footing.

• Target Stages: Venture Studio; Seed → Series A.

• Location: New York, NY.

• Healthcare projects backed:

  • Ascertain (AI agents for clinical workflows).

  • Caregentic (GenAI patient companion).

  • Optain (AI + retinal imaging for systemic disease detection).
    

111° West Capital

111° West Capital is a multi-stage firm that invests in commercial-stage enterprise software companies working to improve core functions across healthcare organizations. They focus on products that address clear operational needs and can be adopted at scale within health systems and provider groups. With an active investment team and a strong operator network, 111° West Capital works closely with founders as they refine products and expand their customer base.

• Target Stages: Multi-stage

Silversmith Capital Partners

Silversmith Capital Partners is a growth-focused firm that invests in technology and healthcare by forming collaborative, long-term partnerships with entrepreneurs who have already built real companies, providing capital and support based on values like integrity, teamwork, humility, and conviction

• Target Stages: Growth

• Location: Boston, MA.

• Healthcare projects backed:

  • LifeStance Health (behavioral health).

  • Earned (Wealth management for doctors).

  • Within3 (Data & Insights management platform).

Menlo Ventures:

Menlo Ventures is an early-stage venture capital firm that goes ALL IN on AI, backing transformative technology companies across focus areas like Bio + Healthcare, Cybersecurity, Fintech, and SaaS to change the way we live and work.

• Target Stages: Early-stage, investing in transformative tech companies across multiple sectors including Bio + Healthcare.

• Location: California.

• Healthcare projects backed:

  • Encoded Therapeutics (precision gene therapy company).

  • Benchling (Life sciences R&D cloud platform).

Two Sigma Ventures

Two Sigma Ventures is an early-stage venture capital firm investing in transformative companies that use data science and advanced engineering to create the future, applying the core thesis of information, computing, and people across various industries including infrastructure tools and healthcare.

• Target Stages: Early stage (investing early, from seed to series B).

• Location: New York, NY.

• Healthcare Projects Backed:

  • Recursion Pharmaceuticals (bio/ML drug discovery; IPO 2021).

  • Carbon Health (EHR platform).

  • WHOOP (Wearables).

  • insitro (uses ML and high-throughput biology to reinvent how new medicines are discovered, designed, and delivered to patients)

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Specialized Health Verticals: Brain, Mental & Women’s Health

Women’s Health:

This category highlights firms that invest in companies addressing clinical needs unique to women, with a focus on maternal care, reproductive health, and modern primary care models built around female physiology and lived experience.

The Helm

The Helm is an early-stage venture firm based in New York and London that invests in companies founded by women. While they back teams across multiple sectors, they maintain a strong focus on women’s health, including maternal care and modern primary care models for women. By combining capital with a network built around female leadership, The Helm supports founders bringing practical, patient-centered solutions to market.

• Target Stages: Early stage.

• Location: NYC & London.

• Healthcare projects backed:

  • Tia (modern women’s health).

  • Mahmee (maternal health).

  • Oova (biomarker-driven diagnostics).

Mental Health

These firms stand out by backing companies that address the full spectrum of mental and brain health needs through clear science, clinical insight, and practical technology. These investors support founders working on neurotech, precision approaches to diagnosis and treatment, digital tools that expand access, and new therapeutic options for conditions that remain difficult to manage.

GreyMatter Capital

Grey Matter is a venture firm focused exclusively on companies working in mental health, backing founders who bring strong clinical insight and clear problem definition to this area. They support teams building tools, services, and treatments aimed at improving how people receive care across the full spectrum of mental health needs. With a concentrated mandate and close engagement with founders, GreyMatter helps early companies navigate clinical nuance, product focus, and real-world implementation.

• Target Stages: Early stage.

• Location: San Francisco, CA.

• Healthcare projects backed:

  • Healthie (EHR and practice management platform for health and wellness professionals).

  • Anna Health (Naturalistic ABA services for autistic children).

  • Coral Care (platform connecting licensed pediatric therapists with patients).

PsyMed Ventures

PsyMed Ventures invests in founders working at the intersection of neuroscience, clinical insight, and advanced technology to address complex brain and mental health conditions. Their focus spans neurotech, precision neuroscience, digital health tools, and new classes of compounds, including work in psychedelic-based therapeutics. By concentrating on scientific rigor and clear clinical pathways, PsyMed supports teams aiming to bring stronger, more reliable options to patients who have limited choices today.

• Target Stages: Venture Capital.

• Healthcare projects backed:

  • Alto Neuroscience (precision psychiatry).

  • Delix Therapeutics (non-hallucinogenic psychoplastogens).

  • Motif Neurotech (bioelectronic implants).
    

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