Launchpad Digital Health Raises New Capital, Closes First 4 Investments via Second Venture Fund, LDH Ventures II
SAN FRANCISCO, Jan. 14, 2020 /PRNewswire/ -- Launchpad Digital Health, a leading U.S. early stage investor in digital health, is pleased to announce the first closing of LDH Ventures II, its second venture fund. Additionally, the firm has closed its first four investments from the new LDH Ventures II, investing in Smileyscope, Patch, Limelight Health, and Hint Health, and it expects others to close near term. Participating investors in LDH Ventures II include the venture arm of a leading global insurance company, Spectra Management Advisors, Wilson Sonsini Goodrich & Rosati and other institutional investors.
"We are delighted to start the new decade on such a high note, extending our leadership in digital health early stage investing," said General Partner & Co-Founder, Fred Toney. LDH Ventures II is focused on venture investing, funding companies from Series Seed to Series B as its entry point, and then supporting those companies in follow on rounds. "The future health of the population will include many new technologies and SaaS platforms that enable an easier, faster and a more streamlined patient, provider, or payor experience in a continuously monitored environment. To fund and build these technologies requires a great team and strong operating experience. We are grateful for our team and partners who help our companies in this process immensely."
Omar Sillah, CEO of Spectra Management Advisors, represents the business interests of professional athletes and coaches, entertainers, and others. In the NFL, Dontari Poe of the Carolina Panthers, Jalen Mills of the Philadelphia Eagles and Deion Jones of the Atlanta Falcons are among its key clients. Concurrently, each of their venture arms—Poe Mans Ventures, Forty5 Ventures, Money Mills Ventures—are new investors for LDH. Omar stated, "investing in health technologies of the future impacts directly the health and wellbeing of the communities we care deeply about. LDH and its team are the best in this business, and we want to be associated with winners in professional sports and in technology investing." Spectra is building a platform of athletes, coaches and clients that are interested in technology investing.
We are excited that LDH Ventures II is now a key investor in its first four companies as we build out a suite of leading early stage digital health companies in the portfolio.
Evelyn Chan, CEO of Smileyscope, said, "well before they invested, LDH already walked the extra mile to help us succeed. This included supporting grant applications and connecting us to strategic partners. We're really excited to have LDH not only as investors, but also as a key part of our team." Smileyscope is a comprehensive virtual reality (VR) digital therapeutic suite of products that helps keep children calm and still for needles and anesthesia, making it safer and easier for clinicians to perform procedures. Ted Ridgway, General Partner at LDH, has joined the board of directors.
Jason Andrew, CEO of Limelight Health said, "these are serious operators building serious leading companies in this vertical at the crossroads of early stage digital health and insurtech. We want them in our corner every day." Limelight Health's vision is to deliver the most efficient and compelling quoting and underwriting platform for the employee benefits industry. Fred Toney, General Partner at LDH, is a member of the board of directors.
Jeremy Blovol, CEO of Patch, added, "the LDH team continues to be some of the most entrepreneurially friendly and supportive investors in healthcare. We're incredibly grateful for their continuous financial and operational support." Patch's mission is to automate health insurance and finance so that providers can focus on delivering quality care. Ted Ridgway, General Partner at LDH, has joined as an observer to the board of directors.
Zak Holdsworth, CEO of Hint Health, stated, "we are excited to have LDH continually in our corner, which is integral to our company. LDH supports our rapid growth via funding, mentoring, scaling at each step." Hint is the Direct Primary Care solutions company with an enterprise management platform that powers the best DPC organizations. Fred Toney, General Partner at LDH, is a member of the board of directors.
About Launchpad Digital Health
Launchpad Digital Health is the leading U.S. Seed to B round fund in digital health. Historically, the firm has led more than 30 investments in the sector, and generally leads the Seed and A rounds that it participates in, and the firm has provided significant liquidity to its Limited Partner investors. The founders of Launchpad Digital Health have funded and operated companies for the past two decades. Successful LDH investments have included companies such as Medable, Limelight Health, Hint Health, Tueo Health, Stop Breathe & Think, Breezometer, InsightRx, Patch, Smileyscope and many others.
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SOURCE Launchpad Digital Health
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