What you should know:
– Jumpstart Health Investors, announced this week the launch of Jumpstart Nova, the first venture capital fund to invest in healthcare innovation founded and led by Black. companies.
– The $ 55 million fund will invest exclusively in healthcare companies run by the founder of Black IT health, digital health, technological services, diagnostic devices, biotechnology, medical device manufacturing and consumer health and welfare.
Why it matters
Marcus Whitney, a leader in healthcare innovation and a pioneer of the first black-led health investment fund, was inspired to create Jumpstart Nova as a solution to a central vacuum he saw in the marketplace. Jumpstart Nova is the newest of a family of funds managed by Jumpstart Health Investors (JHI), which he co-founded with Vic Gatto in 2015 in Nashville. In 2020, JHI successfully supported the launch of four companies, half of which were led by black founders, Whitney quickly realized the opportunity to expand these innovations and Jumpstart Nova was born from its efforts to support historically underfunded innovators. with few resources and unknowns.
“The healthcare venture capital industry has been lost for decades in investing in the brilliant black innovators of the United States, and this has been a loss for all of us. they validate the need to capitalize on and support the vital solutions of this unexploited talent base, “said Jumpstart Nova founder and managing partner Marcus Whitney.
Strategic partners
Supported by the credibility of healthcare industry leaders, Jumpstart Nova investors and strategic health partners include: Eli Lilly and Company, HCA Healthcare, Cardinal greetings, Atrium Health, Henry Ford Health System, LHC Group, Meharry Medical College i American Hospital Association. In addition, the Fund was set up with partners bank of america, Pinnacle Financial Partners, FirstBank, Ingram Industries, Truxton Trust i Vanderbilt University.
New Jumpstart Holding Companies
Portfolio companies to date include:
– Drug is a virtual platform where patients with autoimmune disease can consolidate their entire health history, participate in clinical research and unlock personalized suggestions to better control their health, empowering them to live the life they deserve.
– Cell evolution is a new development and commercialization biotechnology focused on transforming the innovations of cell therapy into treatments.
– Teamwork is a provider of affordable, technologically advanced, staffed, and community-based Applied Behavior Analysis (ABA) services in New York for children with autism.
– Allergy is a Detroit-based food allergy management startup that is committed to increasing the quality of life of millions of people with life-threatening food allergies. Its technology simplifies the management of food allergies, reducing the stress of caregivers as they strive to prevent potentially fatal anaphylaxis incidents.
