July 2, 2014
Dr. Jessica Grossman is thinking about joining the first VC fund focused on women’s health startups, she announced at Tech Cocktail Week Sessions in downtown Vegas in June.
The fund, called EXXclaim Capital, will invest in companies focused on areas like pediatrics, health and wellness, and digital health. According to MedCity News, the fund was started by Dr. Anula Jayasuriya and Karen Drexler and has already invested in Wildflower Health and Medable.
“Women’s health has been extremely overlooked by today’s VCs because, guess what? Less than 5% of VCs are women and people invest in what they know,” Grossman said.
EXXclaim Capital, which is still looking for limited partners to provide more capital, is willing to invest up to a few million dollars in companies who are expecting to exit for just $30 million or $60 million, Grossman said – a smaller return than most VCs are looking for. In the process, she hopes to see more women board members at the companies they fund.
Grossman is a serial entrepreneur who has always been passionate about women’s health. She founded Gynesonics, which built a minimally invasive device to help treat fibroid tumors and be an alternative to major surgery. She was also CEO of Sense4Baby, which made sensors to monitor a baby’s heart rate during high-risk pregnancies.
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