Having recently raised a $30 million venture capital fund, Wiggers Venturebeat is looking to continue its series of investments in emerging technology companies. While health care technology is a particular focus, the fund will also invest in consumer and enterprise technology companies.
Health care sector will be a focus
Founded by Shawn Menlo and Greg Dawson, Menlo Ventures has been investing in many sectors, including health care. Menlo Ventures recently announced the launch of a new program that targets 15-20 future founders. It is designed to help them build the next generation of health tech companies. The firm aims to invest in teams that are developing technologies that solve significant problems in the life sciences and health care.
The firm’s investment portfolio includes companies such as Epiodyne, Pliant Therapeutics, and Clear Labs. They are also interested in startups that are developing novel therapeutic platforms and transformative technologies. The company sees a number of vertical SaaS opportunities in the health care sector.
The future of care delivery is moving from a fee-for-service model to one that is based on data and analytics. This will create opportunities for patients and challenge incumbents. The future of care will become value-based, patient-centric, and virtual, and will be enabled by new medical technologies and patient data. There are also many patient segments that are underserved by the current system. This creates the opportunity for a disruption to happen quickly.
Menlo Ventures also sees a number of consumer trends in the health care sector. These include the emergence of patient-centric and value-based health care, the growing use of technology to make health information more accessible, and a shift toward healthcare as a service.
Exits in portfolio
Founded in 1976, Menlo Ventures has a wide range of investments in the technology space, including software, hardware, mobile, and consumer. It is located in Menlo Park, California, and has an additional office in San Francisco. Its investment strategy is to identify innovative technology markets, make strategic investments in emerging technologies, and provide capital to seed-through-growth technology companies. Generally, Menlo Ventures participates in between 25 and 48 deals a year. Its typical startup valuation is over $1 billion.
Menlo Ventures recently closed its fifteenth early-stage fund with $500 million in capital commitments. Its meaningful sponsors include Kleiner Perkins, Inventus Capital Partners, e.ventures, and the State of New Mexico Investment Council. The fund’s largest investment was the Roku, a digital media player for video streaming. The company closed a round of funding last month. Today, Roku’s shares are trading at $233 each.
The firm has also recently resurrected its life sciences practice. It has invested in startups in the tech-driven life sciences space, including pharma and biotech. As of January, Menlo had nine active portfolio companies. In addition to Menlo’s traditional seed and growth stage investments, the firm has made 150 acquisitions and mergers in its 44 years of existence. Its portfolio includes some of the largest technology companies in the world, including Apple, Google, Facebook, and Microsoft.