SteelSky Ventures Raises Largest Women's Health VC Fund

SteelSky Ventures announces the close of its first fund focused on investing in women's healthcare, with $72 million in total assets under management.

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SteelSky Ventures, the leading women's health fund, is proud to announce the final close of its inaugural fund focused on improving access, care, and outcomes in women's health. The close of the fund brings SteelSky's total assets under management to $72 million, making SteelSky the world's largest venture capital fund focused on women's healthcare. 

SteelSky invests across the spectrum of women's health indications and care modalities, including medical devices, consumer health, digital health, ePharmacy, and retail therapeutics. The fund's innovative approach to women's health also allows for investment in technology infrastructure that supports new and innovative care delivery models.

The fund's limited partners include an impressive roster of healthcare strategic investors, such as the American Hospital Association (AHA), Eli Lilly, Blue Shield of California, MultiCare Hospital System, Henry Ford Hospital System, and Essential Access Health. 

"SteelSky Ventures is making critical investments in women's health with an eye for innovation in the delivery of care," said Rick Pollack, AHA president and CEO. "The AHA is excited about how this fund can positively affect the double bottom-line of financial and social impact."

In addition to support from leading healthcare institutions, the fund has garnered investment from top-tier financial institutions, including Bank of America, JPMorgan Chase and Motley Fool Ventures. The fund's advisors include Carter McClelland, former Chairman of Bank of America Securities and Chief Administrative Officer of Morgan Stanley; Rick Mazjun, COO of Stanford Children's Hospital; Hurley Doddy, CEO of Emerging Capital Partners and Kim Meredith, CEO of the San Francisco General Hospital Foundation.

SteelSky Ventures was founded by Maria Toler Velissaris, a serial entrepreneur, investor, and prolific advocate for female founders and women's healthcare. Maria uncovered a gap in funding for women, and more specifically, women's health, as an angel investor and launched the fund to capitalize on this nascent but growing opportunity. To date, Maria has invested in over 20 female-led companies, sits on numerous healthcare boards and has been featured as a top VC to watch by Forbes. In 2020, she was honored with the NYU Stern Alumni Changemaker Award and named to Business Insiders' List of Rising Stars in Venture Capital.

"Women's health is an area of tremendous growth potential, and SteelSky is building a pipeline of the next billion-dollar healthcare giants. We are proud to invest in entrepreneurs who are significantly progressing healthcare for women around the world," Maria said.

Rounding out the partnership are Managing Partners Buffy Alegria, who brings 16 years of banking expertise coupled with a deep understanding of healthcare and medicine, and Casey Albert, a healthcare entrepreneur with 20 years of experience building, scaling, and investing in healthcare companies.

"The closing of our first fund is a signal that investors see the enormous untapped potential in women's health," Buffy said. "The groundswell of support we've received confirms the importance of our thesis and the bright future ahead for companies that are innovating in this space."

Despite the fact that women account for 80% of healthcare spending in the U.S., women's health has historically been underfunded and overlooked. This lack of investment has been particularly harmful to women who are on Medicaid, uninsured, or underinsured. SteelSky is building an ecosystem of portfolio companies across a wide range of women's health indications that can work together to amplify their impact.

One hundred percent of the firm's portfolio companies impact underrepresented communities. Collectively, SteelSky's portfolio companies have provided more than 40 million people with access to essential healthcare services. Highlights from SteelSky's portfolio companies include Cayaba Care, which provides home-based maternal health services for underserved communities; Origin, a digital first physical therapy platform specializing in pelvic floor health, pregnancy, and post-partum care; Lark, an AI platform for chronic care management; Raydiant Oximetry, creator of a more accurate fetal distress monitor; ConcertoCare, which offers integrated care to seniors in the home and alleviates the burden of caregivers; Twentyeight Health, an inclusive women's health telemedicine platform; and Zipline, a drone delivery platform expanding access to prescription medicine and lifesaving medical products to rural communities.

"SteelSky is paving the way in women's health and investing in companies that are making a significant impact on the world," Casey said. "Investing in women's health means better outcomes for women, and we're just getting started."

About SteelSky Ventures

SteelSky Ventures is a female-led venture capital fund investing in companies that improve access, care, and outcomes in women's healthcare. The fund invests across the spectrum of women's health indications and in technology infrastructure that supports new and innovative care delivery models. For more information about SteelSky Ventures, visit https://steelskyventures.com

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SteelSky Ventures PR
contact@steelskyventures.com

Source: SteelSky Ventures

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SteelSky Ventures is a black female-led venture fund investing in companies that improve access, care and outcomes in women's health.

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