This originally appeared on NVCA’s website on March 8, 2017
MENLO PARK, CA – The National Venture Capital Association (NVCA) today honored leaders of the venture capital industry at the annual NVCA Leadership Gala for their significant contributions to advance innovation, strengthen the industry and promote entrepreneurship. In addition to the Lifetime Achievement in Venture Capital Award, Outstanding Service Award and American Spirit Award, NVCA added three new categories to the lineup this year, including the Rising Star Award, the Excellence in Healthcare Innovation Award and the Venture Firm of the Year Award.
The 2017 award recipients and winners include:
Lifetime Achievement in Venture Capital – Bill Draper, General Partner at Draper Richards
Outstanding Service Award – Ross Jaffe MD, Managing Director at Versant Ventures
American Spirit Award – Ray Leach, CEO at JumpStart Inc.
Rising Star Award – Kristina Shen, Vice President at Bessemer Venture Partners
Excellence in Healthcare Innovation – Annie Lamont, Managing Partner at Oak HC/FT
Venture Firm of the Year – Emergence Capital
About the Awards
Lifetime Achievement in Venture Capital Award
The Lifetime Achievement in Venture Capital Award was created to recognize venture professionals who have dedicated their professional lives to creating and building successful and highly competitive venture firms as well as portfolio companies that have made a significant contribution to the growth and success of the U.S. economy. Recipients of the Lifetime Achievement Award were instrumental in the formation and growth of the venture capital industry and have consistently set high performance standards for the entire industry.
Previous recipients: Chuck Newhall, Mike Moritz, Mark Heesen, Arthur Rock, Sam Colella, Felda Hardymon, James Blair, Brook Byers, Jean Deleage, Anthony Evnin, Grant Heidrich, Jim Swartz, Bill Hambrecht, Sandy Robertson, Thomas Weisel, Edward Glassmeyer, Peter Crisp, Henry McCance, Paul Wythes, Lionel Pincus, Pitch Johnson, Richard Kramlich, Stanley Golder, Burton McMurtry, Reid Dennis, Peter Brooke, Thomas Perkins, Stanley Golder and David Morgenthaler.
Outstanding Service Award
The Outstanding Service Award was created to recognize the exceptional service of an NVCA Director or NVCA member who has committed an extraordinary amount of time, resources and dedication to Association efforts that in turn benefits the entire venture industry. The dedication has raised the visibility of the industry to key legislators and regulators and helped to educate them regarding the pivotal role of venture capital to this economy.
Previous recipients: Diana Frazier, Josh Green, Kate Mitchell, Steve Frederick, Ted Schlein, Warburg Pincus, Jack Lasersohn, Sarah Reed, John Martinson, Robert Pavey, Rodney Goldstein, E. Roe Stamps, M. Kathleen Behrens, Steven Lazarus, Harry T. Rein, Patricia Cloherty, John Doerr and Christopher Brody.
American Spirit Award
The American Spirit Award was created to recognize NVCA members who have shown philanthropic leadership by applying business skills, knowledge, expertise and resources to make an outstanding contribution to society.
Previous recipients: Jeff Fagnan, Robin Richards Donohoe, William Sahlman, Peter Bancroft, Chuck Newhall, Joe Aragona, Ewing Marion Kauffman Foundation, John Doerr, Alan Patricof, William Bowes, Peter Wendell, Floyd Kvamme, William Draper III, Martin Koldyke and Gib Myers.
Rising Star Award
The Rising Star Award was created to recognize the next generation of venture capital professionals who are rising through ranks and establishing themselves as future standard bearers of the industry. Recipients of the award have demonstrated a mastery of venture capital investing gleaned through a relatively short amount of time in the industry and are widely recognized by their peers and others as emerging leaders of the venture capital industry.
Previous Recipients: NA
Excellence in Healthcare Innovation Award
For over three decades, venture capital has been at the forefront of some of the greatest advancements in medicine, pushing the boundaries of medical innovation and spurring the creation of the biotechnology and medical device industries. The Excellence in Healthcare Innovation Award was created to recognize those who have demonstrated a clear commitment to the advancement of healthcare innovation through their investment in and support of groundbreaking medical companies that are working on treatments and cures for the most deadly and costly diseases.
Venture Firm of the Year Award
The Venture Firm of the Year Award was created to recognize venture capital firms for their significant contributions to advance the entrepreneurial ecosystem and generate returns for their investors. Firms receiving the award are recognized for strong fund performance and high exit multiples for recent exits.
WALTHAM, Mass. & BRANFORD, Conn.–(BUSINESS WIRE)–Thermo Fisher Scientific Inc., the world leader in serving science, today announced that it has acquired Core Informatics, which provides a leading cloud-based platform supporting scientific data management. Core’s offerings will significantly enhance Thermo Fisher’s existing informatics solutions and complement its cloud platform, which supports the company’s genetic analysis, qPCR and proteomics systems.
Core’s capabilities include laboratory information management systems (LIMS), electronic laboratory notebook (ELN) technologies and scientific data management solutions (SDMS). The business also offers an Application Marketplace to speed deployment and increase value for customers across a broad range of industries and scientific workflows. Core Informatics’ state-of-the-art laboratory data-management solutions are used by leading biopharma, genomics and other scientific and industrial organizations.
“The scientific community is rapidly adopting cloud-based laboratory and scientific data management capabilities,” said Thomas Loewald, senior vice president and chief commercial officer, Thermo Fisher Scientific. “Integrating the leading technologies of Core Informatics is part of our strategy to set the standard for digital science solutions, from life sciences discovery to applied markets and manufacturing.”
“We are thrilled to join the Thermo Fisher Scientific team to help accelerate the future of the digital lab,” said Josh Geballe, chief executive officer, Core Informatics. “We are excited to become part of the world leader in serving science and look forward to the additional benefits this will bring to our innovative clients and amazing team.”
About Core Informatics
Core Informatics partners with customers in biopharma, genomics, and other industries to deliver lab informatics solutions to derive more value and insight from their scientific data. Core Informatics provides the scalable and extensible Platform for Science that enables customers to quickly and easily build workflows to meet their specific needs and add capabilities as they grow. Based in Branford, Connecticut, Core Informatics has been recognized numerous times as one of the fastest growing private companies in the United States and as one of Connecticut’s best places to work. For more information, please visit http://www.coreinformatics.com
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. is the world leader in serving science, with revenues of $18 billion and more than 55,000 employees globally. Our mission is to enable our customers to make the world healthier, cleaner and safer. We help our customers accelerate life sciences research, solve complex analytical challenges, improve patient diagnostics and increase laboratory productivity. Through our premier brands – Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific and Unity Lab Services – we offer an unmatched combination of innovative technologies, purchasing convenience and comprehensive support. For more information, please visit www.thermofisher.com.
Oak HC/FT investment to drive international expansion and launch of new data applications for financial services organizations
Urjanet, the world-wide leader for utility data, today announced $20 million of new funding in a Series C round led by Oak HC/FT. Urjanet offers a data-as-a-service (DaaS) solution that provides line-item detail of cost and usage information from approximately 4,000 utilities in 30 countries. The data that Urjanet accesses from electric, gas, telco, water, and waste providers enables SMEs and multinational companies to automate their accounting and bill processing, manage energy costs, comply with energy reporting regulations, and monitor sustainability.
The round of funding comes as government agencies, such as the CFPB, as well as private financial institutions have recently made steps to explore programs to incorporate alternative sources of consumer payment data, such as utilities and rent, to make credit and lending decisions. The funding will enable Urjanet to expand its global network of utility providers as well as launch new data applications in the financial services industry that focus on alternative credit scoring and identity verification.
“We are excited to advance our mission to equip companies with the data they need to manage billing and payments, energy consumption and utility costs, and achieve sustainability goals,” said Sanjoy Malik, CEO of Urjanet, commenting on the investment round. “Oak HC/FT’s financing will enable us to broaden our reach to the world’s largest corporations and utility providers, as well as accelerate our launch of new applications using utility data as an alternative source for credit scoring and identity verification.”
Patricia Kemp, general partner at Oak HC/FT, added, “Urjanet is tackling a critical concern for many companies: managing their complex utility expenses and billing data. We look forward to working with Sanjoy and the Urjanet team, as they roll out their data service to new customers, and expand their reach into adjacent markets and financial services.”
Oak HC/FT is the premier venture growth-equity fund investing in Healthcare Information & Services (“HC”) and Financial Services Technology (“FT”). Urjanet is the 16th investment by Oak HC/FT since launching the inaugural $500 million fund in June 2014. The fund and its investors contain deep domain experience and are uniquely positioned to provide entrepreneurs and companies with strategic counsel, board-level participation, and access to an extensive network of industry leaders. Ms. Kemp will join the board of Urjanet.
Urjanet is based in Atlanta and was founded at ATDC (Advanced Technology Development Center). The technology was developed at the Georgia Institute of Technology through a research and funding partnership with the National Science Foundation and the Georgia Research Alliance (GRA). Investors include Grotech Ventures, and Correlation Ventures, Imlay Investments, and the GRA.
Urjanet’s mission is to provide the world with easy access to automated utility data. Our cloud-based platform connects directly to utilities to seamlessly acquire and normalize disparate utility bill and interval data. The process data is delivered directly to industry-leading business applications.
Public and private organizations across the world use Urjanet data to achieve sustainability goals and reduce energy consumption and cost. Urjanet is rapidly becoming the global standard for utility data and powers applications from the leading energy and sustainability providers.
Urjanet is a privately-held company headquartered in Atlanta, Georgia. For more information, visit www.urjanet.com
ABOUT OAK HC/FT
Oak HC/FT (http://oakhcft.com) is the premier venture growth-equity fund investing in Healthcare Information & Services (“HC”) and Financial Services Technology (“FT”). We are focused on driving transformation in these industries by providing entrepreneurs and companies with strategic counsel, board-level participation, business plan execution and access to our extensive network of industry leaders.
Oak HC/FT leads funding to enhance well-being of patients in chronic pain and drive value for client partners
Nashville, Tennessee (October 12, 2016) – Axial Healthcare, Inc., the nation’s leading pain care solutions company, announced today it has closed a $16.5 million Series B round of financing. Oak HC/FT, a venture growth-equity fund investing in healthcare services, led the funding round, which will be used to further drive expansion of axial’s suite of pain management capabilities, including a cloud-based, provider decision-support platform for pain treatment. Previous investors, .406 Ventures, BlueCross BlueShield Venture Partners, and Sandbox Advantage Fund, also participated in this latest round of financing.
“Over the last four years, axial has curated the country’s most comprehensive database of evidence-based best practices for pain treatment,” said Nancy Brown, Venture Partner at Oak HC/FT. “The rate of opioid misuse, abuse or overdose underscores the need for a smarter, information-driven approach to pain treatment that payers, providers and patients can use. axialHealthcare has pioneered evidence-based pain management solutions and is leading the way in addressing barriers to safe and effective pain treatment. I am excited to join their Board of Directors to continue to solve these issues.”
John Donahue, chairman and CEO of axialHealthcare, said, “We are excited to welcome Oak HC/FT into the axial family and look forward to leveraging their extensive healthcare expertise. Oak HC/FT’s funding comes as we build out our operational and clinical teams, continue to innovate and enhance our capabilities, and move to operationalize on our substantial pipeline of clients. We look forward to continuing our mission to mitigate opioid misuse and improve the care and well-being for patients in chronic pain.”
Pain treatment is a $330 billion annual spend category for payers and has escalated into an epidemic as opioid use has increased 400 percent in the last 10 years. In response to this situation, axialHealthcare was founded in 2012 to identify and address the drivers of poor clinical outcomes and escalating costs of pain management. The company has since assembled the nation’s largest data repository of patient pain claims and outcomes, as well as created the only evidence-based criteria for pain clinics.
axialHealthcare’s suite of pain management capabilities includes: predictive analytics; a decision-support platform that delivers pain population analytics, provider dashboard and content, network performance monitoring, and PharmD consultation for providers; and the nation’s only mobile patient app for patients experiencing chronic pain. axialHealthcare’s team of physicians, pharmacists, scientists, technologists and healthcare operators are uniquely positioned to ensure that patients in pain are provided with personalized, evidence-based care from informed practitioners. The company began deploying its pain care offerings with industry-leading client partners last year.
axialHealthcare is the leading pain medication and pain care management company and partners with health insurers nationwide. axial’s pain management solutions engage physicians, pain clinics and patients with coordinated care by applying advanced analytical insight, unmatched proven clinical evidence and highly effective consumer support. axialHealthcare’s solutions optimize pain care outcomes, reduce opioid misuse and materially improve financial performance for those who insure care. For more information, please visit www.axialhealthcare.com.
About Oak HC/FT
Oak HC/FT (http://oakhcft.com/) is the premier venture growth-equity fund investing in Healthcare Information & Services (“HC”) and Financial Services Technology (“FT”). Oak HC/FT is focused on driving transformation in these industries by providing entrepreneurs and companies with strategic counsel, board-level participation, business plan execution and access to an extensive network of industry leaders.
Oak HC/FT led funding, joining Polaris Partners and F-Prime Capital, with focus on driving expansion of projects and coverage
New York, New York (June 30, 2016) – US HealthVest (USHV), a developer and operator of behavioral health facilities, today announced it has secured $50 million in a Series B funding round. Oak HC/FT, a leading venture-growth equity fund investing in healthcare services technology companies, joins founding investors Polaris Partners, F-Prime Capital Partners and Richard A. Kresch, M.D. in this funding round to directly enable the company to further expand its coverage.
Bringing psychiatric and substance abuse care to underserved communities, USHV hospitals develop an array of specialized programs in response to community need and partner with existing medical providers to expand services and improve access to care.
“US HealthVest strives to be the most innovative behavioral healthcare company and has redefined the psychiatric hospital space,” says Richard A. Kresch, M.D., President & CEO of US HealthVest. “De novo strategies and acquisitions of operating facilities with unrealized potential are the core of the US HealthVest business model. Each hospital is structured to offer multiple service lines in order to serve the needs of specific patient population groups.”
The funding comes as USHV continues to actively work to evaluate acquisitions and de-novo opportunities and to assist with optimal debt structuring for on-going construction projects. USHV operates in a $16 billion sub-segment of behavioral health with meaningful supply-demand imbalance due to a 42% decline in psychiatric hospital beds over the last two decades.
“Expanded mental health coverage due to the ACA and CMS’ recent decision to lift the IMD exclusion are increasing demands,” according to Andrew Adams, General Partner at Oak HC/FT. “US HealthVest is led by a proven management team that has worked together for over 20 years, operating 14 successful hospitals including 5 de-novos across three companies. We are confident in USHV’s ability to continue providing high quality care to its patients as the company grows.”
USHV identifies communities with unmet demand and/or Certificate of Need (“CON”) processes and seeks to acquire undermanaged, or build de-novo, inpatient psychiatric hospitals. Across its facilities, USHV provides inpatient, partial hospitalization, intensive outpatient, medication management, residential treatment and academic programs for adults and adolescents. The Company was founded in 2013 by Dr. Kresch, formerly Founder & CEO of Ascend Health Corporation and Heartland Health Developments.
About US HealthVest:
US HealthVest is a leading provider of behavioral healthcare services. US HealthVest operates Chicago Behavioral Hospital and is developing hospitals near Atlanta and Seattle. Accredited by The Joint Commission, US HealthVest’s hospitals provide specialized psychiatric care to patients with a full range of inpatient and day hospital services for children, adolescents, adults and seniors. For more information, please visit www.ushealthvest.com.
About Oak HC/FT
Oak HC/FT (http://oakhcft.com/) is the premier venture growth-equity fund investing in Healthcare Information & Services (“HC”) and Financial Services Technology (“FT”). We are focused on driving transformation in these industries by providing entrepreneurs and companies with strategic counsel, board-level participation, business plan execution and access to our extensive network of industry leaders.