Tech

Health tech venture firm OTV closes new $170 million fund and expands into Asia – TechCrunch

OTV (formerly Olive Tree Ventures), an Israeli venture capital firm focused on digital health technology, has announced that it has closed a new fund totaling $ 170 million. The company has also opened a new office in Shanghai, China, to lead growth in the Asia Pacific region.

OTV Currently, there are a total of 11 companies in the portfolio. This year, it will lead the round on telemedicine platforms TytoCare and Lemonaid Health, with other investments including the genomic machine learning platform Emedgene. Microscopic Imaging Startup Scopio; Home Heart and Lung Monitor Donisi Health. OTV has begun investing in more B and C rounds with the goal of helping companies that are already testing their products address regulatory and other issues as they grow.

OTV focuses on digital health products that work in different countries, making healthcare more affordable and potentially bridging the gap in overwhelming healthcare systems.

Jose Antonio Urrutia Rivas will head OTV’s Asia Pacific region, manage the Shanghai office and help portfolio companies expand in China and other Asian countries. This brings the total number of OTV offices to four, with other locations in New York, Tel Aviv and Montreal. Prior to joining OTV, Rivas worked as director of the Asian market at the financial company Larrain Vial.

OTV was founded in 2015 by general partners Mayer Gniwisch, Amir Lahat and Alejandro Weinstein. OTV partner Manor Zemer, who has worked in the Asian market for over 15 years and spent the last five years in Beijing, told TechCrunch: “Digital health is already highly developed in many Asia-Pacific countries. The region is naturally suited to venture capital firms specializing in this area, as health products complement face-to-face healthcare providers. “

He said OTV, “While digital health was a growth area long before the pandemic, how the COVID-19 pandemic is in the limelight for the internationalized and interconnected nature of the global healthcare infrastructure. I wanted to use it. “

Health tech venture firm OTV closes new $170 million fund and expands into Asia – TechCrunch Source link Health tech venture firm OTV closes new $170 million fund and expands into Asia – TechCrunch

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