Investor profile
TEXO Ventures
Micro-fund
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TEXO Ventures invests in the 'business' of healthcare rather than the 'science,' targeting companies at the convergence of Health IT and Health Services that use recurring-revenue models, require less capital to commercialize, are highly scalable, and face fewer regulatory hurdles. The firm focuses on four sectors: Health IT and technology-enabled health services; managed care and benefit design; medical devices and diagnostics (only when uniquely differentiated with a clear 510(k)-style regulatory path); and personalized-medicine technology. TEXO explicitly avoids consumer health services, pharmaceutical development, oncology, therapeutics, biotechnology, and pre-revenue concepts, and typically targets opportunities with pre-money valuations between $3M and $10M, taking an active, non-passive approach drawing on more than 60 years of combined operating experience.
Notable quotes
“Many healthcare startups fail because they don't understand the regulatory process or they lack the network of industry professionals who will not only validate their product or service, but also drive market traction.”
“We only invest in the 'business' of healthcare with a specific focus on innovative companies that operate at the convergence of Health IT and Health Services. These Technology-Enabled Health Services typically implement recurring revenue models, require less capital to commercialize, are more highly scalable and have fewer regulatory hurdles.”
“We view entrepreneurial tenacity as a driving force in positively shaping the new healthcare landscape. Thus, we take a collaborative approach with our investments. TEXO Ventures works side-by-side with entrepreneurs, providing the foundation of capital and expert guidance needed to launch successful healthcare companies.”
Team
Recent investments
| Company | Round | Size | Date |
|---|---|---|---|
| BetterDoctor | Series B | $11m | 2017-06-20 |
| CareDox | Series A | $3m | 2017-04-13 |
| Ortho Kinematics | Series D | $9m | 2017-02-03 |
| Ortho Kinematics | Series C | $10m | 2015-07-15 |
| Wenzel Spine | Seed | — | — |
| Employer Direct Healthcare | Seed | — | — |
| Alafair Biosciences | Seed | — | — |
| Televero Health | Seed | — | — |
| OpenMarkets Health | Seed | — | — |
| Precedent Health | Seed | — | — |
Frequent co-investors
| VC firm | Deals together |
|---|---|
| Digitalis Ventures | 2 |
| Prolog Ventures | 2 |
| Health Catalyst Capital | 1 |
| MB Venture Partners | 1 |
| 7wire Ventures | 1 |
| StartUp Health | 1 |
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