Ascension Ventures
Description
Ascension Ventures operates as the strategic corporate venture arm of Ascension, one of the largest non-profit health systems in the United States. Based in St. Louis, Missouri, the firm is dedicated to identifying and investing in early to growth-stage companies that are developing innovative healthcare solutions. Its investment focus spans digital health, medical devices, diagnostics, and tech-enabled services, all aimed at enhancing patient care, improving operational efficiencies, and expanding access to healthcare services across Ascension's extensive network.
The firm's investment strategy is deeply integrated with Ascension's mission, seeking to validate and scale technologies that can directly benefit the health system's patients and clinicians. Beyond capital, Ascension Ventures provides portfolio companies with invaluable strategic guidance, clinical validation opportunities, and direct access to a vast healthcare ecosystem for piloting and deployment. This unique approach allows portfolio companies to accelerate their growth and achieve significant market penetration within a real-world healthcare environment.
Ascension Ventures has demonstrated substantial financial commitment to healthcare innovation, having raised over $550 million across its first three funds. Their typical initial investment for early to growth-stage companies ranges from $1 million to $5 million, though they are capable of participating in larger follow-on rounds as their portfolio companies mature. This strategic investor plays a critical role in shaping the future of healthcare by fostering advancements that align with the evolving needs of patients and providers.
Investor Profile
Ascension Ventures has backed more than 94 startups, with 2 new investments in the last 12 months alone. The firm has led 26 rounds, about 28% of its total and boasts 31 exits across its portfolio.
Investment Focus Highlights
- Concentrates on Series B, Series C, Series D rounds (top funding stages).
- Majority of deals are located in United States, United Kingdom.
- Strong thematic focus on Health Care, Medical, Medical Device.
- Typical check size: $1M – $5M.
Stage Focus
- Series B (19%)
- Series C (17%)
- Series D (16%)
- Series Unknown (16%)
- Series A (16%)
- Seed (6%)
- Series E (3%)
- Private Equity (2%)
- Series F (1%)
- Debt Financing (1%)
Country Focus
- United States (87%)
- United Kingdom (13%)
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Industry Focus
- Health Care
- Medical
- Medical Device
- Biotechnology
- Information Technology
- Health Diagnostics
- Software
- Hospital
- Mhealth
- Information Services
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