LRVHealth Raises $200M to Provide “Care Everywhere”

Venture capital firm LRVHealth launched its fifth fund at $200 million focused on healthcare startups that provide “care anywhere.”

The Boston-based firm said it will concentrate investments on companies that deliver care where, when and how patients want it, using technologies such as artificial intelligence, machine learning, sensors, optics and robotics. Health systems such as Arlington-based Texas Health Resources are backing the fund.

The firm, which rebranded from Long River Ventures in 2018, has already tapped the new fund for investments in value-based care company Greater Good Health and virtual care platform KeyCare.

Founded in 2000, LRVHealth said the latest was comprised exclusively of strategic limited partners, with 29 US healthcare providers, payers and vendors invested.

The firm added that 90% of its strategic LPs are actively engaged with at least one of the firm’s portfolio companies, while 75% of its portfolio companies have a customer that is part of LRVHealth’s strategic network.

The firm also created an executive advisory board including current and former health system leaders: Lawrence Cho, Winjie Tang Miao, Dave Mazurkiewicz, Rich Statuto, Glenn Steele and Lisa Stump.