Chicago-based venture-capital firm 7WireVentures has raised a $100 million fund that will invest in health startups developing consumer-focused technology. The firm, founded in 2011 by former Allscripts Healthcare Solutions Inc. executives Glen Tullman and Lee Shapiro, prefers to make early-stage investments as the lead investor at around $3 million to $5 million each deal. 7WireVentures...
Venture capital firm 7WireVentures has raised $100m to back consumer-focused health technology start-ups. The company is backed by venture capitalists including Andreessen Horowitz, Kleiner Perkins Caufield & Byers, and Accel Partners. It has also teamed up with eight health organisations including Bon Secours Health System, Cigna and some BlueCross BlueShield branches. Managing partner Lee Shapiro said the company's strategy comes amid increasing investment in digital health but many firms struggle with growth. Investing early can serve as a "living laboratory" to boost growth, Shapiro said.