Questa Capital Administration, a healthcare-focused enterprise agency, introduced it closed a $397 million enterprise progress fairness fund dubbed Questa Capital III, bringing its whole elevate to over $1 billion.
Commitments got here from blue-chip traders, together with endowments, foundations, household workplaces, pension plans, fund-of-funds and consultants.
WHAT IT DOES
The corporate’s present portfolio contains:
- in-home care supplier DispatchHealth.
- hybrid care supplier Cortica, which develops care applications for people with autism.
- sensible stethoscope firm Eko.
- digital opioid use dysfunction therapy startup Bicycle Well being.
The agency will use the capital to put money into 10 to 14 early-stage firms within the healthcare providers, medical machine and expertise sectors. It would proceed to mix parts of progress fairness with enterprise capital, and stated it’s going to fund firms working in lots of the identical focus areas as its prior investments.
“We’re extraordinarily happy to shut on Fund III regardless of a difficult fundraising surroundings. We’re each grateful for the robust curiosity and ongoing help from our current traders and happy to be beginning long-term relationships with a small group of outstanding new restricted companions,” Questa founder and managing companion Ryan Drant stated in a press release.
“We’re additionally energized by the chance set we see available in the market and look ahead to persevering with to construct differentiated and high-growth healthcare firms in shut collaboration with robust administration groups.”
MARKET SNAPSHOT
Different enterprise companies have garnered a considerable amount of commitments these days.
Outline Ventures, whose portfolio consists of well-known early-stage startups in Silicon Valley, acquired $460 million in Fund III and Alternatives Funds in April.
In July, early-stage enterprise capital agency Distributed Ventures, born out of NFP Ventures, closed $100 million in whole commitments. The Chicago-based agency deliberate to make use of the funds to put money into fintech, insurtech and digital well being.
