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January 16, 2025 | Tom Ballard

VC News | Veteran Ventures Capital approaching oversubscribed round

Andreessen Horowitz (a16z) Bio + Health has announced a newly formed, first-of-its-kind venture capital fund to fuel broader innovation in human health, in partnership with Eli Lilly and Company.

From McLean, VA:

Veteran Ventures Capital (VVC), which launched in Knoxville before relocating to Tysons, VA and now McLean, announced that it was well on its way to an oversubscribed Veterans Fund II. VVC announced its first close of $25 million in May, 2024, exceeding Fund I and also reaching 50 percent of the target before mid-year. “Our second close this Fall was $40 million at 80 percent of (the) target, and we are on track to oversubscribe in 2025. We’ve earned strong institutional backing adding both State investors and University endowments, and we’re now vetted on Goldman Sachs’ platform,” VVC wrote in an email..

From Menlo Park, CA:

Andreessen Horowitz (a16z) Bio + Health has announced a newly formed, first-of-its-kind venture capital fund to fuel broader innovation in human health, in partnership with Eli Lilly and Company.

The Biotech Ecosystem Venture Fund seeks to drive transformative progress in healthcare by investing in therapeutic platforms and cutting-edge technology companies that can bring new medicines and disease treatments to improve patients’ lives. Managed by a16z Bio + Health, the Fund will deploy up to $500 million to invest in companies at all stages – from company creation to growth. The Fund will focus on advancing the development of new medicines, enabling novel modality platforms, and scaling emerging health technologies.

As a complementary source of capital to traditional venture funding, the Fund will take a long-term view to enable disruptive companies to realize the full potential of new biological science, engineering technologies, and artificial intelligence capabilities. The Fund aims to foster a technology ecosystem of ambitious bio + health entrepreneurs and innovators.

From Boston, MA:

Valspring Capital, a healthcare-focused growth equity firm, has announced the close of the firm’s debut fund, Valspring Capital Fund I, above its target, at $255 million.

Founded in 2022 by a team spun off from Bain Capital Ventures to pursue healthcare investments with the firm’s support, the Valspring team will seek to invest primarily in growth stage companies in the healthcare industry, focusing on the information technology, technology-enabled services, and services sectors within North America. The Fund received strong institutional investor interest from a diverse Limited Partner base which includes endowments and foundations, pensions, financial institutions, funds of funds, and private wealth firms.

“We are thrilled to announce the close of our debut fund and proud to close above target amid a challenging environment for growth equity,” said Yumin Choi, Managing Partner, Valspring Capital. “We see a great deal of opportunity in the healthcare sector, a continually growing and fragmented industry ripe for innovation. With our strong team, supplemented by a network of operating partners with significant industry and operating experience, we are confident we can excel in this competitive market and drive value for our portfolio companies and investors.”

From Minneapolis, MN:

Vensana Capital has announced the closing of Vensana Capital III with $425 million in committed capital. The fund was oversubscribed at its hard cap with the support of the firm’s existing limited partners alongside select new institutional investors, and it brings Vensana’s total capital under management to approximately $1 billion.

Founded in 2019, Vensana Capital is a venture capital and growth equity investment firm dedicated to partnering with innovative medical technology companies in their development and commercial stages. The firm invests across all areas of medtech, with a particular focus on medical device and data science-oriented companies that have the potential to create new clinical standards of care while also helping to make healthcare more efficient, accessible, and cost-effective.



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