In a press release, Jumpstart Nova has announced that it has closed a $55 million oversubscribed fund to invest exclusively in Black founded and led healthcare companies nationwide.

Jumpstart Health Investors (JHI) were joined by global institutions such as Eli Lilly and Company, HCA Healthcare, Cardinal Health, Atrium Health, Henry Ford Health System, LHC Group, Meharry Medical College, and American Hospital Association. The fund was launched alongside partners Bank of America, Pinnacle Financial Partners, FirstBank, Ingram Industries, Truxton Trust, and Vanderbilt University.

“We’re excited about the potential of Jumpstart Nova and to serve as one of its strategic health care partners,” said Dr. James E.K. Hildreth, President, and CEO of Meharry Medical College, according to a press release. “Particularly, in the world of health care, the small percentage of minority-founded and led businesses—5 percent—is almost reflective of the percentage of Black physicians practicing in America. Correcting this inequity requires bold approaches and ventures, and Jumpstart Nova’s support of Black founded and led companies in the health care sector is just that kind of innovative thinking.”

Oversubscribing its initial goal of $30 million, the round will propel the advancement of technological innovation. Jumpstart Nova’s newly raised funding will be used to steward Black-founded healthcare companies across health IT, digital health, tech-enabled services, diagnostic devices, biotech, medical device manufacturing, and consumer health and wellness, a press release states.

”The healthcare venture capital industry has missed out for decades on investing in America’s brilliant Black innovators, and this has been a loss for us all,” said Founder and Managing Partner of Jumpstart Nova, Marcus Whitney, in a statement. “Jumpstart Nova’s strong start and incredible group of limited partners validate the need to capitalize and support the vital solutions from this untapped talent base.”

Jumpstart Health Investors

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