Ventureast, a domestic venture capital firm, is expected to make angel and seed investments in domestic digital health startups through its new $4 million fund which is expected to be commercialized by mid-2017. The firm has put in 50% of the fund capital while the rest is expected to be contributed by selected net worth individuals. Ventureast had recently co-invested in a seed round for Celes Care, a virtual clinic for women, and that was one of the factors that prompted the firm to start a fund
dedicated to angel and seed investments.
Bobba Venkatadri, general partner at Ventureast, said that “the company is primarily looking to co-invest in six to eight digital health startups, and that the first deal could be finalised in the second quarter. Our premise is that digital health is going to be a dominant factor in healthcare, just like biotechnology was several years ago. It’s a new space and seed fund is the kind of bet it requires”. With the firm’s past experience in healthcare space, the new fund will significantly help the early-stage digital health startups they invest in.