Define Ventures
Healthcare venture firm focused on companies redefining how care is accessed, delivered, and paid for.
Define Ventures has quietly become the healthcare VC kingmaker you didn't know you needed to know about. With $800M AUM, they're now one of the largest early-stage health tech funds, but what makes them special isn't size—it's their operator-heavy bench. They just landed Bruce Broussard (12-year Humana CEO) and Frank Williams (Evolent founder) as venture partners, giving founders direct access to Fortune 50 healthcare executives who've actually run the systems they're trying to disrupt. The proof is in the pudding: 72% of their portfolio companies have customers within their coalition of leading healthcare organizations—that's not luck, that's systematic customer development. Founders rave about their hands-on approach, with testimonials mentioning they "drive shareholder value in a step function manner" and provide "strategic connections throughout the industry." The downside? They're getting picky as they scale, and their growing brand means more competition for their attention.
- —Best for: Health tech founders who need Fortune 50 healthcare connections and systematic customer development
- —Watch out for: Increasingly selective as they scale - harder to get their attention than 2-3 years ago
- —Known for: Operator-heavy team with actual healthcare C-suite executives, not just ex-consultants
Define Ventures believes the seismic shifts from the convergence of healthcare and technology will define healthcare for generations to come. The fund was founded on a simple belief: the future of healthcare will be defined by those who bring together a deep understanding of the healthcare ecosystem paired with a technology-driven mindset.
Define Ventures invests in health tech companies at various stages, including incubation, seed, Series A, and Series B. The firm focuses exclusively on early-stage digital-health startups and now has approximately $800 million in assets under management, making it one of the largest early-stage venture firms focused on investing in digital health.
Former Partner at Kleiner Perkins focused on digital health and connected devices. Previously worked for eight years at Abbott Vascular and Guidant, leading the global launch of Absorb, the world's first bioresorbable vascular scaffold. Also has experience at Goldman Sachs M&A and Apax Partners venture capital.
Seasoned healthcare executive and multi-time CEO who was president and CEO of Humana for over a dozen years. Led a strategic shift towards expanding the company into an integrated model with a growing care delivery focus.
Co-founder and former CEO of Evolent Health (NYSE: EVH), joining Define as venture partner in 2024. Brings deep expertise in the provider space that offers key lessons for entrepreneurs.
Most recently a vice president with Imagine Health, a Utah-based company that builds custom teams of healthcare providers for employers. Also worked as a senior manager at publicly traded Castlight Health and as an associate with The Carlyle Group.
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