FCA Venture Partners Closes Oversubscribed Fund VII at $90 Million

Nashville, TN, April 12, 2023 – FCA Venture Partners (“FCA”), a leading healthcare technology venture capital firm, is pleased to announce the final close of FCA Venture Partners VII (“FCA VII”), with $90 million in capital commitments, well over the fund’s initial target of $75 million. FCA VII invests in Series A and Series B stage digital health and technology-enabled healthcare services companies that improve patient care, reduce costs, or increase efficiency.

FCA VII commitments come from several leading health systems; healthcare executives, providers, and entrepreneurs; and other individual investors and family offices.

“FCA VII is the largest fund we have raised in the history of our firm. We are very appreciative of the continued support from our existing investor base and the vote of confidence from our many new investors,” said Matt King, Managing Partner at FCA. “In the current financial environment, we believe our investment vehicle is an attractive alternative for investors. Early-stage healthcare venture capital remains a compelling investment thesis, and the size of our fund makes us well positioned to be able to lead investments and offer continued follow-on support to promising companies within this segment of the market.”

The fundraise for FCA VII comes during a period of tremendous momentum for FCA. Over the last few years, FCA portfolio companies have raised more than $285 million in follow-on capital, and FCA has realized nine successful exits generating roughly $115 million in proceeds for the funds. FCA has helped scale some of the top companies within the digital health and tech enabled services healthcare industry, including ProviderTrust, Lumere, Clinical Ink, SonderMind, Javara, Ideon, and Enable Dental.

Additionally, FCA has strategically invested in the next generation of its leadership team with the 2021 promotion of Andrew Bouldin and Whitney Kalb to Partner. Additional investments in the team include the promotion of George Curran to Senior Associate in 2021, as well as the hiring of John Orr as an Associate in 2022 and a Director of Finance starting in 2023. FCA will continue to bolster its roster as the firm makes additional investments and prepares to raise additional funds in the next few years.

FCA is actively investing out of FCA VII, having made seven investments to date: Virgo, Azra AI, PrecisionGx, Casechek, Aidin, Intrinsic, and evolvedMD. “We continue to be optimistic about the investment opportunities within the early-stage healthcare technology and tech-enabled healthcare services sector,” said John Burch, Managing Partner at FCA. “We remain committed to partnering with high quality and experienced leadership teams, and we look forward to investing in the next generation of healthcare leaders in the coming years.”

FCA VII will invest $3-6 million in an additional 5-6 innovative healthcare companies across the Series A and Series B stages. FCA is also actively investing out of FCA Health Innovations II, the firm’s $71 million seed stage fund, having made nine investments to date.

About FCA Venture Partners

FCA Venture Partners is a venture capital firm investing in early-stage healthcare technology and technology-enabled healthcare services companies that improve patient care, reduce costs, or increase efficiency. FCA brings portfolio companies valuable healthcare insights, connections, and board-level experience to accelerate growth and build disruptive and sustainable businesses. Based in Nashville, the epicenter of healthcare innovation, our team has a decades-long track record including more than 60 investments in the rapidly changing healthcare industry. FCA has offices in Nashville, TN and Winston-Salem, NC. For more information, visit fcavp.com.

For questions, contact Whitney Kalb, Partner and General Counsel, at whitney@fcavp.com.