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BFD Expert Voices - Health Tech Deals

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VC firm Rethink Impact raised $250 million for its newest fund, Jenny Abramson, founder of Rethink tells Axios.

Why it matters: The firm invests in female-led tech companies in health, education, climate, and financial services.

Between the lines: Rethink's health tech portfolio companies cover a wide array of services, including Spring Health, the employer-based mental health care company that raised a Series E at a $3.3 billion valuation in July.

Clarity, a virtual platform treating pediatric chronic conditions like ADHD and covered by major insurance plans .

Wellthy, a caregiving and support company for employers to help employees deal with caregiving needs, 

Bold, a primary care-focused tech developer.

It invests in companies early as late seed round and as late as a Series C.

By the numbers: VC raised $84.4 billion in the first half of the year, the lowest total since 2015, per PitchBook.

What's next: Rethink will deploy the capital four to fives times a year.

"We are excited about digital health and invest in companies that don't have physical devices... we look for companies that don't necessarily need to go through FDA approval and are very focused on B2B businesses." Abramson says.

Pipeline companies include startups in menopause, pediatrics space and mental health. 

What they're saying: "CHOP is very much aligned with the focus of Rethink Impact," says Jenny Chan, SVP of Children's Hospital of Philadelphia. 

The bottom line: "Some may have thought that investing in women was only a passing trend in the wake of the #MeToo movement," says Abramson. "But this moment makes clear that investing in women and impact is good business, good for the economy, and certainly here to stay."

Rethink Impact raises $250 million for third fund

The firm backs female-led tech companies.

Illustration of a woman with a laptop and backpack walking up a giant briefcase with a staircase along the side

Health tech deals

VC firm Rethink Impact raised $250 million for its newest fund, Jenny Abramson, founder of Rethink tells Axios.Why it matters: The firm invests in female-led tech companies in health, education, climate, and financial services.

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Rethink Impact raises $250 million for third fund

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