In our work advising 600+ startups, the most-active healthcare VCs in 2026 are New Enterprise Associates (NEA), OrbiMed Advisors, Atlas Venture, Andreessen Horowitz Bio + Health, Versant Ventures. Healthcare VC came back hard in 2025. The cards on this page sync live from our Waveup Copilot database.
Every week we get a healthcare founder asking us: "Should I pitch a digital health VC, a biotech specialist, or a generalist with a healthcare practice?" The answer almost always changes the next 6 months. Healthcare VC came back hard in 2025. Rock Health reports digital health funding hit $25B — the biggest year since 2021. Biotech IPOs reopened (Tempus AI's $410M IPO at $6B valuation), HealthAI rounds commanded premium multiples (Hippocratic AI $141M Series B at $1.6B post), and consumer health continued to scale (Hims & Hers passed $1.7B in 2024 revenue).
We track active healthcare VCs in our Waveup Copilot database — the cards on this page sync from there weekly, so you're always pitching active funds, not last year's roster. Below is the working shortlist with focus, stage, check size, and live investment activity.
Best 5 healthcare VCs at a glance
- New Enterprise Associates (NEA) — multi-stage healthcare leader; 2,225 investments across digital health, biotech, medtech; Bessemer-tier seed-to-IPO coverage.
- OrbiMed Advisors — pure-play healthcare specialist; biotech and medtech focus; $20B+ AUM across public, private, and royalty strategies.
- Atlas Venture — biotech-focused early-stage VC; 25+ years building therapeutics companies; seed and Series A leads.
- Andreessen Horowitz Bio + Health — tech-meets-bio thesis; HealthAI, digital therapeutics, computational biology; $1.5B+ healthcare fund.
- Versant Ventures — biotech specialist; 382 investments; San Francisco/Boston/Basel; Series A through C with strong follow-on.
Most active healthcare venture capital funds
New Enterprise Associates (NEA), OrbiMed Advisors, Atlas Venture, Andreessen Horowitz Bio + Health, Versant Ventures, plus the multi-stage giants writing follow-on checks in healthcare (Sequoia, Andreessen Horowitz, Lightspeed, Accel) and corporate strategics. The cards below sync with our database — focus areas, stage focus, and check sizes reflect each fund's current profile.
The widget below shows active healthcare funds with focus areas, stage breakdown, and average check sizes. Click View VC firm on any card to see the fund's full investment profile. We refresh this list weekly so you're never pitching a fund that stopped writing checks 18 months ago.
- AI & Deep Tech
- Advertising & Marketing
- +33
- Seed
- Series A
- +2
- $500K-$1M
- $1M-$3M
- +2
- AI & Deep Tech
- B2B
- +15
- Series A
- Series B
- +1
- $500K-$1M
- $1M-$3M
- +2
- AI & Deep Tech
- Advertising & Marketing
- +24
- Seed
- Series A
- +2
- $100K-$500K
- $500K-$1M
- AI & Deep Tech
- Advertising & Marketing
- +26
- Pre-Seed
- Seed
- +3
- $0-$100K
- $100K-$500K
- AI & Deep Tech
- Advertising & Marketing
- +31
- Seed
- Series A
- +2
- $1M-$3M
- $3M-$10M
- Biotech
- Consumer Goods & Electronics
- +6
- Series A
- Series B
- +1
- $0-$100K
- $100K-$500K
- +3
- AI & Deep Tech
- Advertising & Marketing
- +25
- Seed
- Series A
- +2
- $3M-$10M
- Over $50M
- +1
- AI & Deep Tech
- Advertising & Marketing
- +28
- Seed
- Series A
- +3
Methodology — how we keep this list current
We pulled this list from our Waveup Copilot fund database — VCs cross-checked against Crunchbase, PitchBook, TechCrunch, and the funds' own sites. To make the cut, a fund had to be actively writing healthcare leads in 2024–2025.
Healthcare sub-niches: which one matches your raise?
Healthcare VC splits into four flavors, and pitching the wrong one is the #1 reason healthcare raises stall: Digital health (Rock Health, GV, Andreessen Horowitz Bio) for app/SaaS plays — $25B in 2025. Biotech (OrbiMed, Atlas, ARCH, Versant, Flagship Pioneering) for therapeutics — longer cycles, deeper science. Medtech (NEA, Sofinnova, F-Prime, KKR) for devices — FDA pathway-aware. HealthAI (a16z Bio, Founders Fund, Khosla, Lux) for AI-native plays — newest and most-active in 2026.
Where the money is going in 2025–2026
Recent named healthcare rounds tell the bar: Hippocratic AI raised $141M Series B at a $1.6B valuation in May 2025, Tempus AI IPO'd in June 2024 at a $6B valuation raising $410M, Hims & Hers' revenue hit $1.7B in 2024 (NYSE: HIMS), and OpenEvidence raised $210M Series B led by Sequoia, Kleiner Perkins, and Google Ventures in July 2025.
Why healthcare founders need specialist VCs
Healthcare specialist VCs do three things generalists can't: validate market signal (their decision is itself a credibility unlock for follow-on), unlock domain-specific intros (operators, strategics, customers), and price your round correctly against actual healthcare comparables. We've watched generalist-led rounds underprice healthcare startups by 30%+ because the lead simply didn't know the comp set.
Here's what most healthtech founders we coach miss: the lead investor's reputation does the heavy lifting on follow-on access, executive recruiting, and enterprise buyer credibility — not the dollars. A strong healthcare lead can compress your time-to-Series-B from 24 months to 12, and dramatically improve the terms when later rounds open. We've watched it happen on 600+ raises across our portfolio.
How to raise healthcare venture capital in 2026
We've seen healthcare founders close 70% faster when they target specialist VCs whose check size, stage, and sub-niche actually match — not by mass-DMing 200 partners. Build a tight 12–14-slide pitch deck, benchmark numbers against actual 2025–2026 healthcare comparables, and route the first intro through a portfolio founder, accelerator alum, or operator angel. Cold reply rates run 1–3%; warm intros run 30%+.
Three steps that actually work for healthtech founders we coach: (1) build a list of 15–25 healthcare-active funds whose check size, stage, and sub-niche match your raise — the cards above tell you exactly that; (2) work warm-intro paths through portfolio founders, healthcare accelerators, and operator angels; (3) tighten your deck to survive a partner's 60-second pattern-match. We've seen this approach compress raise time from 9 months to 4 across our 600+ portfolio.
If you're not sure how to position your healthcare numbers — or whether your deck reads as institutional-ready against the 2025–2026 comp set — our team has helped 600+ startups raise across pre-seed, seed, Series A, and growth. We'll tell you straight whether you're ready or what to fix first.
Related read:
- Top early-stage VC firms
- Top Series A venture capital firms
- Top seed-stage investors and VC firms
- Top deep-tech and hard-science VCs
- Top venture studios for startups
- Top venture capital firms in NYC
Are healthcare VCs the right fit for your raise?
Yes — pitch healthcare VCs
- You have clinical or revenue traction (digital health: $1M+ ARR signed pilots; biotech: clinical/preclinical proof-of-concept; medtech: FDA pathway clarity)
- Your sector matches an active healthcare thesis (digital health, biotech, medtech, HealthAI, mental health, women's health)
- You can articulate FDA/regulatory pathway and reimbursement strategy
- You have at least one warm-intro path through scientific advisors, KOLs, or portfolio founders
- You're raising $1M–$50M in healthcare-specific capital
Not the right fit yet
- Pre-clinical biotech with no scientific founder credibility — start with academic incubators (Y Combinator Bio, IndieBio)
- Wellness/consumer with no clinical anchor — better positioned for consumer VCs, not healthcare specialists
- FDA pathway unclear or reimbursement unsolved — capital wastes on unfundable risk
- Generic SaaS without healthcare-specific wedge — pitch B2B SaaS VCs instead
- First-time founder, no scientific co-founder, no clinical advisor — need to build advisor bench first