VC News | Ballad Ventures seeking its next Managing Director
T.Rx Capital, a venture capital firm focused on early-stage healthcare innovation, has announced the close of its inaugural fund at $77.5 million.
Ballad Ventures:
Ballad Ventures, the venture capital arm of Ballad Health, headquartered in Johnson City, has announced a search for its next Managing Director.
In a LinkedIn post from Bo Wilkes, President of Ballad Ventures, he wrote, “The position will be responsible for managing our current investment portfolio while preparing for the launch of Fund II in 2026. The Managing Director will also have the opportunity to rebuild the Ballad Ventures team and deepen the strategic value we deliver to Ballad Health through innovative partnerships and collaborative investments.
“We are seeking an experienced leader with a background in healthcare venture capital and entrepreneurial leadership in the healthcare sector. This individual will guide the full investment process, foster new opportunities aligned with our investment thesis and organizational strategic plan, and work alongside leaders at Ballad Health and the Ballad Health Innovation Center to bring innovation into the health system.”
Wilkes said the position can be onsite, hybrid, or remote.
T.Rx Capital:
T.Rx Capital, a new venture capital firm focused on early-stage healthcare innovation, has announced the close of its inaugural fund, T.Rx Capital Fund I, at $77.5 million. The fund is dedicated to backing visionary founders building at the intersection of technology and biology, including biotechnology, techbio, and tech-enabled services.
Fund I attracted strong backing from a global base of investors, including institutional allocators, family offices, and high-net-worth individuals across North America, Europe, the Middle East, and Asia. In addition, the firm had backers that include individual founders from Polaris Partners, Lux Capital, Third Rock Ventures, ARCH Venture Partners, and Dr. Robert Langer, who also serves as Executive Chairman of T.Rx Capital.
Co-founded by Michael Langer, Dr. Corey McCann, and Dr. Kwesi Frimpong-Boateng, T.Rx Capital has a team of seasoned healthcare investors and operators with backgrounds creating, funding, scaling, and transacting healthcare companies.
“We launched T.Rx Capital to identify and back the next generation of category-defining healthcare companies,” said Michael Langer. “As biology and technology converge, we see a historic opportunity to build scalable platforms that can fundamentally reshape disease treatment. We partner early with scientifically rigorous, execution-focused teams and provide the capital, network, and strategic support to help them build durable value from day one.”
T.Rx Capital is supported by seasoned Venture Partners Dr. Debbie Lin, Vice President of Strategic Partnerships in Precision Oncology at Caris Life Sciences, and Dr. Liz Kwo, Chief Commercial Officer at Everly Health.
Volo Earth Ventures:
ESG Today reports that VoLo Earth Ventures, an early-stage climate tech-focused venture capital firm, announced that it has closed its second fund at $135 million. The firm said that the closing of Fund II marks an increase of 50 percent over its predecessor fund’s $88 million, despite a challenging environment for venture fundraising, and for climate tech in particular.
VoLo Earth targets investments in capital-efficient solutions across the energy, mobility, building, and industrial sectors, representing major opportunities for resilient, decarbonized systems and repeatable financial performance. Its strategy combines techno-economic analysis with portfolio engagement to accelerate decarbonization, while generating superior returns.
AZ-VC:
AZ-VC, a U.S. venture capital firm fueling innovation outside traditional coastal markets, has announced the launch of its second fund, AZ-VC II, managing an undisclosed amount in an effort to foster innovation and momentum outside of traditional U.S. tech hubs.
The firm began its franchise in 2022, anchored by Pinnacle West Corporation, in addition to mostly Arizona-based limited partners, including Western Alliance Bancorp, Trinity Capital, and Salt River Project. AZ-VC is led by Jack Selby, Managing Partner, an original employee and former executive at PayPal, and currently a Managing Director at Thiel Capital, the family office of Peter Thiel.
The new fund builds on the success of AZ-VC’s $115 million Fund I.
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