Healthcare Investor Valspring Capital Closes Debut Fund at $255M

Healthcare-focused growth equity firm Valspring Capital secured $255M in capital commitments at the closing of its debut fund, Valspring Capital Fund I.

The fund surpassed its target, according to the Bain Capital Ventures spinoff, thanks to support from a diverse group of LPs, including endowments and foundations, pensions, financial institutions, funds of funds and private wealth firms. The New York State Common Retirement Fund invested $15.7M in the fund, according to Dakota data.

An amended filing with the SEC showed that the sale of the fund started on September 19, 2023. As of November 26, 2024, it had raised $254.3M from 55 investors. Valspring Capital tapped Monument Group for the marketing of the fund across the US and Ropes & Gray as its general counsel.

Valspring Capital targets growth-stage healthcare companies, particularly those involved in technology, technology-enabled services and services sectors in North America. The firm said the fund has so far made investments in technology-first healthcare benefits navigation platform HealthJoy and pharmaceuticals home delivery company Phoenix.

Written By: Dakota

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