A Tel Aviv-based venture capital firm focused on digital health has closed a new fund totaling $170 million, and plans to invest in startups across the globe with a new focus on the Asia Pacific region.
Olive Tree Ventures—which also renamed itself OTV—is opening a new office in China to complement its additional branches in New York and Montreal. The firm’s Asia Pacific operations will be headed up by Jose Antonio Urrutia Rivas, who previously helped cover the region for the Chilean financial services company LarrainVial.
"Digital health technology is increasingly important for strained healthcare systems seeking to provide accessible and affordable treatment, especially to traditionally under-served populations,” said OTV co-founder and general partner Alejandro Weinstein.
“The COVID-19 pandemic elucidated the importance of digital products to the global healthcare ecosystem, but industry pain points predated the current crisis and clear solutions will be needed in the years to come,” Weinstein said.
OTV's investment portfolio includes digital health companies such as former Fierce 15 winner TytoCare, with its digital stethoscopes and remote exam equipment, and Lemonaid Health, which has helped launch home-based diagnostic tests and telemedicine solutions through a partnership with Scanwell Health.
Other previously backed companies include the genomics analysis developer Emedgene, the digital microscopy startup Scopio, and the home health monitoring-focused Donisi Health.
"OTV's goal for the upcoming period is to harness our expertise in facilitating the growth of digital health companies, and, with laser-sharp focus, identify the market leaders of tomorrow," Weinstein said.