Today we announce both a new brand and a new fund. While we liked our prior name – Foundation Medical Partners – it was time to refresh our presence in the market. A few other venture firms use the word “Foundation” in their names and there was chronic confusion with Foundation Medicine, a very exciting diagnostics company. Additionally, we don’t do “Medical” but rather invest in healthcare technology companies, both software and service business models. But we do very much like “Partners” thus the new brand – drum roll, please – Flare Capital Partners.
The word “flare” evokes important associations with energy, momentum – up and to the right. Flares light the way, are bursts of intense flame, they light up what is dark. We love the imagery and think it is powerful.
Separately but related, we are also announcing our new fund – Flare Capital Partners I. This $200 million fund is considered to be the largest dedicated healthcare technology venture fund raised. The transformation of the healthcare industry landscape has given rise to tremendous new market opportunities for the fund to pursue. In fact, we have already made four investments out of this fund. And we think the best way to service entrepreneurs in this large and important sector is to do so on a dedicated basis.
One of the hallmarks of Flare Capital Partners I is the composition of the Limited Partner base, which we think is highly differentiated. Many of our investors are directly engaged in the transformation of healthcare, running some of the most important companies from across the entire healthcare ecosystem. Additionally, we are privileged to partner with leading pension funds, sovereign wealth funds and family offices – all excited about the ability to build important and valuable new companies in the business of healthcare. We are honored to have them all as partners and expect that many will be tremendous assets for our entrepreneurs.
This next decade will be very exciting. Let the games begin – and let Flare light the way…