Ascension Ventures has closed its latest venture capital fund at $255 million.
The fund is the fourth for Ascension Ventures, which is a wholly owned subsidiary of the Ascension health system. Thirteen health care systems, including St. Louis-based Mercy, invested in the new fund, which brings Acension Ventures total assets under management to more than $800 million.
Joining Ascension as limited partners in fund, known as CHV IV, are: Adventist Health System, Carle Foundation, Catholic Health Initiatives, CentraCare Health, Children’s Medical Center of Dallas, Dignity Health, Inova Health System, Intermountain Healthcare, Mercy, Novant Health, OhioHealth and OSF HealthCare.
“Ascension has been an early adopter of innovation investing, having done this for more than 15 years, and we are proud of the professional and experienced AV team, its accomplishments, and the new partners who have chosen to collaborate with us,” Tony Tersigni, president and CEO of Ascension, said in a statement.
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Ascension launched AV in 2001, and the venture firm has since raised three successive funds that have invested in more than 55 companies. The firm invests in companies that provide IT, services and medical devices to the health care industry.
Date: December 09, 2016