- The $150 million fundraising represents 300 percent growth from Concord’s inaugural fund, which closed in November 2019
- The fund’s limited partners include American Hospital Association
- Concord also added Erik Larsen and Derek Schmidt as managing directors based in Nashville
Concord Health Partners has closed its second innovation fund at $150 million.
Innovation Fund II invests in innovative growth-stage healthcare companies with innovative technologies and solutions.
The $150 million raise represents 300 percent growth from Concord’s inaugural fund, which closed in November 2019. To-date, more than 50 percent of the committed capital for Innovation Fund II has been deployed across six portfolio companies, including Clarify Health, Loyal, Iris, Accelus and Mindmaze.
The fund’s limited partners include American Hospital Association.
“We are honored by the support we have received from both existing and new LPs as we work with our partners to identify and accelerate the growth of innovative companies that advance healthcare,” said James Olsen, a founder and managing partner at Concord, in a statement. “The substantial increase in capital raised and LP participation in Fund II is a testament to our strategy and follows the recent growth of our senior team and the establishment of a Nashville office, better positioning the firm to identify and diligence new platform opportunities. The pipeline of innovation within the healthcare ecosystem remains robust, and we are excited to put this capital to work for the benefit of our investor base.”
Concord also added Erik Larsen and Derek Schmidt as managing directors based in Nashville, and announced on July 11 that Brian Gragnolati, who currently serves as president and CEO of Atlantic Health System and is former chairman of the board of trustees of the American Hospital Association, joined the firm as executive partner.
Concord Health Partners is a healthcare focused investment firm.