Venture capital fund Oncology Ventures announced the close of an oversubscribed $30 million Fund I to invest in data-driven startups improving cancer care and research.
New York-based Oncology Ventures is led by Ben Freeberg, a healthcare investor who previously served as vice president at Optum Ventures and was the first hire at Alpha Partners. Freeberg said his operational experience at cancer startup Thyme Care and his personal experience as a cancer survivor position him well to invest in and empower the next generation of cancer startups.
“Cancer care today is prohibitively expensive and overly complex. We will invest in cutting-edge data and AI solutions to tackle the most pressing challenges in oncology, from early detection to treatment optimization,” said Freeberg, founder and managing partner of Oncology Ventures, in a statement. “We are excited by the overwhelming support for our first fund to accelerate cancer innovation.”
Oncology Ventures’ advisory board features a distinguished group of healthcare, venture and oncology experts, including the former Chief Medical Officer of UnitedHealth Group (Dr. Lee Newcomer), the co-founder of Threshold Ventures (Emily Melton), CEO of Flatiron Health (Carolyn Starrett) and CEO of OneOncology (Dr. Jeff Patton).
Additionally, the fund is backed by several institutions, including Cardinal Health, City of Hope, and Moffitt Cancer Center.
Oncology Ventures has made seven investments ranging from early detection for cancer (Gabbi and mPATH) to care navigation during treatment (Reimagine Care) through to survivorship care (OncoveryCare). The fund also is investing in companies focused on cancer clinical trials (IgniteData), precision oncology (Concr) and healthcare AI enablement ( Health Univers).
