Healthcare technology venture capital firm, Flare Capital Partners, today announced the closing of its second fund, Flare Capital Partners II, L.P., with a total of $255 million in committed capital. The oversubscribed fundraise follows up its inaugural fund, which was raised in April 2015, and establishes Fund II as one of the largest, independent, dedicated healthcare technology venture capital investment funds.
Evolving Healthcare Industry Demands Innovative Business Models
The U.S. healthcare system continues to rapidly evolve as providers seek better clinical outcomes at lower costs, payers develop novel payment and engagement solutions, life sciences manufacturers embrace digital health and intelligent analytics solutions, employers look to improve the health of their covered populations at reasonable cost, and patients become more empowered proactive healthcare consumers. These shifts are driving the demand for innovative models and technologies incorporating mobility and advanced analytics. Flare Capital’s investment team is focused on transformational technologies and services that enable value-based healthcare, leveraging mobile solutions, big data analytics technologies, and secure infrastructure.
Investment Portfolio
Flare Capital has made seventeen investments out of the prior fund, including Aetion, Aspen RxHealth, Bright Health, Circulation (acquired by LogistiCare), ClearDATA, Curisium, HealthReveal, HealthVerity, higi, Iora Health, Somatus, Tausight, Valence Health (acquired by Evolent Health), VisitPay and Welltok. The firm has developed the very successful Flare Scholar program with over 100 participants and actively leverages its extended industry network, Executive Partners and Industry Advisory Board for the benefit of the entrepreneurs and founders with whom it is privileged to partner.
“Core to our success has been the level of engagement with our investors. As such, we are also pleased to welcome a number of new strategic and financial investors as partners of the firm. While this is an important milestone for Flare Capital, we will continue to be heads down working to build important and valuable healthcare technology companies. We expect to close the first investment out of the new fund within the week,” said Michael A. Greeley, General Partner at Flare Capital Partners.
