Flare Capital Partners has raised $200 million for its first healthcare tech-focused fund. The fund has already made investments in such companies as Iora Health, Predilytics and Valence Health. It also has invested in Rock Health‘s most recent seed fund. In addition to the fund, the firm has named Kristen Laguerre as partner and chief financial officer. Previously, Laguerre was a partner and CFO at Atlas Venture and vice president of finance at SoftBank Capital. Also, Flare has appointed Dr. Dan Gebremedhin as a senior associate.
BOSTON — April 29, 2015 — Flare Capital Partners, a healthcare technology venture capital firm, today unveiled its first fund under the new Flare Capital brand. This new fund is one of the largest dedicated healthcare technology venture capital investment funds raised to date. Flare Capital, previously known as Foundation Medical Partners, will continue to manage three Foundation Medical Partners’ funds.
In addition, Flare Capital has announced the appointment of Kristen Laguerre as Partner and Chief Financial Officer. Kristen joins the Flare team with more than 15 years of financial leadership and management experience in the investment industry, most recently as Partner and CFO at Atlas Venture and previously VP Finance at SoftBank Capital. Additionally, Dr. Dan Gebremedhin joins the team as a Senior Associate from Harvard Pilgrim Health Plan where he was the Associate Medical Director focusing on population health and medical informatics solutions.
“It has been incredibly gratifying to see the firm scale and successfully invest in a number of innovative healthcare companies over the last dozen years, as evidenced by the recent sale of Explorys to IBM, which was a company originally spun-out of the Cleveland Clinic and backed by the firm. Flare Capital is well-positioned for the upcoming decade of profound transformation in the business of healthcare,” observed Steve Glass, Chief Financial Officer of the Cleveland Clinic.
The healthcare delivery system continues to rapidly evolve as providers seek better clinical outcomes at lower costs, payers develop novel payment and wellness engagement solutions, and patients become proactive healthcare consumers. This shift is driving the demand for innovative delivery models incorporating mobility and advanced analytics. Flare Capital’s investment team is focused on transformational technologies and services that enable value-based healthcare and leverage mobile-based 24/7 solutions, big data and analytics technologies.
Led by General Partners Bill Geary, Michael Greeley and Lee Wrubel, Flare Capital draws extensively on its wide, differentiated and unparalleled network of specialized resources at the country’s leading healthcare industry organizations and academic institutions. The team brings deep venture capital and proven healthcare technology domain expertise to its investing activities.
“We were attracted to the Flare Capital opportunity given the team’s depth of successful investment experience and the proven ability to finance and build leading healthcare technology companies. There is a real opportunity for venture-backed technology solutions to take charge of this industry, solve real healthcare business problems, and generate superior investment returns,” stated Phil Rotner, Chief Investment Officer of Boston Children’s Hospital.
Flare Capital has made three investments out of the new fund, including Iora Health, Predilytics and Valence Health. Additionally, the firm has made an investment in Rock Health’s most recent seed fund, extending its reach and forming an important partnership to further focus on the launch of the industry’s most innovative early-stage companies and entrepreneurs.
“Iora is building the next generation of primary care models. We were excited to partner with the Flare team and have been impressed by their depth of industry expertise and relevant networks that will be helpful as we rapidly scale the company. As a healthcare technology entrepreneur I have been impressed with the firm’s total commitment to help us succeed,” commented Dr. Rushika Fernandopulle, CEO and founder of Iora Health.
About Flare Capital
Flare Capital is a team of proven healthcare technology venture capital investors known for their unparalleled strategic industry resources, insight and total commitment to the success of the entrepreneurs. Flare Capital specializes in early stage and growth equity investments in healthcare technology innovation providing leadership, support, and strategic resources at every phase of a company’s development. The firm manages approximately $400 million and is based in Boston. www.flarecapital.com
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