Healthcare technology VC firm Flare Capital Partners closed 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.
“Our relationship with Flare Capital has been highly productive and there are numerous examples of our collaborating and co-investing with them across many of our business areas. In particular, we value the team’s depth of investment experience and their proven ability to finance and build leading healthcare technology companies,” Bruce Broussard, President and CEO of Humana, said in a statement. “We’re committed to bringing to market innovative healthcare solutions and services for our members and we see Flare Capital playing an important role in that mission.”
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 a 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.
Flare Capital has made seventeen investments out of the prior fund — including Aetion, Bright Health, Circulation, HealthVerity, Iora Health, Somatus and VisitPay. 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.