Town Hall Ventures

In May 2018, Andy Slavitt, a former group executive vice president of Optum, co-founded Town Hall Ventures with Trevor Price, founder of Oxeon Holdings, and David Whelan, managing general partner of Oxeon Ventures, and the firm officially launched during the HLTH health conference in Las Vegas. Whelan had previously been a general partner and CFO of the investment firm Accretive LLC. The firm’s own account of its founders lists only Slavitt and Whelan.⁠[1][1][1][1][2][3]

The firm’s name came from a series of visits Slavitt had made to town halls across the country to answer questions about the Affordable Care Act (ACA), at a time when the Trump administration and congressional Republicans were seeking to repeal and replace the law.⁠[2]

At its founding, the firm was based in New York and Minneapolis and planned to invest in companies improving Medicare, Medicaid, risk-based care, and care for complex conditions, and addressing the social determinants of health, areas that affect almost 120 million Americans and about $1.2 trillion in annual healthcare spending. Slavitt said the United States had significant healthcare infrastructure serving healthy populations, while lower-income communities were underserved and had far poorer health outcomes.⁠[1][1][1]

In September 2018, Town Hall Ventures’ first fund reached a $115 million first close, with backing from four of the five largest non-profit health systems and non-profit health payors in the United States, which together serve 23 million people in 42 states. A Form D filed with the US Securities and Exchange Commission that month showed that Town Hall Ventures, L.P. had sold $115 million in interests, with a date of first sale of September 14, 2018. By then, the firm had invested in eight companies, including home-care provider Landmark Health, health insurer Bright Health, and kidney care company Strive Health.⁠[4][4][5][5][4]

In February 2020, a Form D filed by Town Hall Ventures II, L.P. with the US Securities and Exchange Commission showed that the second fund had sold $260 million in interests, with a date of first sale of February 6, 2020. A 2022 ImpactAlpha report put the size of the second fund at $275 million.⁠[6][6][7][8]

In October 2022, Town Hall Ventures’ third fund raised $350 million, bringing the firm’s total assets under management to over $1 billion. Its investors included institutional investors, family offices, health systems, and individual investors, among them John Doerr, who had backed the firm since its first fund. At the time, the firm had invested in or partnered to build 30 companies, which delivered healthcare services to more than 3 million Americans in all 50 states; half of its portfolio companies were led by founders and CEOs who are people of color or women; portfolio companies included Cityblock Health, which provides value-based care to low-income patients, Unite Us, which connects health and social services, and health insurer Bright Health.⁠[8][8][8][8][8][8]

On October 15, 2025, Town Hall Ventures announced that it was beginning the investment program for its fourth fund with approximately $440 million of capital commitments, focusing on healthcare companies that use AI as a core capability to lower costs and expand access to care for underserved populations. The firm said that since its founding in 2018 it had invested in 42 companies across launch, venture, and growth stages, with a portfolio reaching about one in five Americans, and that it had $1.4 billion in assets under management. Limited partner John Doerr said he had joined all four of Town Hall’s funds.⁠[9][9][9][9][9][9]

The fourth fund was announced alongside an expansion of the team: Catherine Olexa-Meadors, who had worked at Aledade and Remedy Partners, joined as Head of Partnerships and Growth, and Will Stokes, co-founder of Strive Health, rejoined Town Hall to lead Hatch, the firm’s company-creation studio. The partners at the time were Andy Slavitt, David Whelan, Meera Mani, and Anna Fagin.⁠[9][9][9]

On September 18, 2026, Angle Health, a US health benefits platform for small businesses, announced a $600 million equity financing at a $2.7 billion valuation, consisting of a $200 million Series C financing and a $400 million tender offer for existing shares, led by Vitruvian PartnersVitruvian PartnersVitruvian Partners is an international private equity firm headquartered in London, United Kingdom. Founded in 2006, it focuses on growth buyouts and growth capital investments in “Dynamic Situations,” investing mainly in asset-light, high-growth middle-market companies, and between 2008 and 2024 it raised five funds in its Vitruvian Investment Partnership series.Open the full entry; Town Hall Ventures joined as a new investor, with participation from existing investors Blumberg Capital, Portage VenturesPortage VenturesPortage Ventures (now branded as Portage) is a fintech investment firm headquartered in Toronto, Canada. Founded in 2016 as Portag3 Ventures, it is now the fintech investment platform within the alternative asset manager Sagard.Open the full entry, PruVen CapitalPruVen CapitalPruVen Capital is an independent venture capital firm headquartered in Palo Alto, California, United States. It was founded in 2020 by Ramneek Gupta with funding from the US insurance group Prudential Financial, and it invests in technology startups in financial services, insurance, and other industries.Open the full entry, and Y Combinator, and the round was expected to close later that month.⁠[10][10][10][11]

In an investment post, Town Hall general partner David Whelan and vice president Andie Steinberg argued that small businesses are the most exposed to rising healthcare costs, and that level-funded health plans, which let small businesses get unused funds back much as large self-funded employers keep their savings, were being adopted quickly; Angle Health runs the entire process, from quote through enrollment, claims, and renewal, on a single AI-native technology platform. The two noted that Angle co-founders Ty Wang and Anirban Gangopadhyay had both worked at Palantir and launched Angle in 2021.⁠[12][3][3][12][12][12][12][12][12][12][12]

Town Hall Ventures’ mission is “using innovation to fix health inequities,” and it holds that innovations aimed at improving care have been slow to reach the areas that need them most, including primary care, mental health, addiction treatment, end-of-life care, kidney care, and maternity and newborn health. The firm invests in healthcare technology and services companies that address critical patient needs, favoring those with the ambition to scale nationally, across all stages; its initial checks typically range from $3 million to $30 million, with additional capital as companies develop, and it invests across the United States. Its strategic limited partners and advisors include many of the largest national payors and health systems.⁠[13][13][14][14][14][14][14][14]

As of October 2026, Town Hall Ventures’ general partners were Andy Slavitt, David Whelan, and Meera Mani, and its partner was Anna Fagin; its venture advisors included Mike Pykosz, Tim Gronniger, Adam Boehler, and Mandy Cohen. The firm says it has started or invested in 42 companies to date, with 8 of its first 16 investments valued at over $1 billion; its portfolio companies include Curana Health, Cityblock Health, Thyme Care, and Empassion Health.⁠[3][3][3][3][3][15][15][15][15]

Town Hall Ventures: Official website: https://www.townhallventures.com/ (opens in a new window).⁠[15]

LinkedInLinkedInLinkedIn is a social networking platform for professionals. It was founded in 2002 by Reid Hoffman and others, launched in 2003, and listed on the New York Stock Exchange in 2011; after Microsoft acquired it for approximately $26.2 billion in 2016, it became a wholly owned Microsoft subsidiary. Its revenue comes from membership subscriptions, advertising, and recruitment solutions.Open the full entry: Public profile: https://www.linkedin.com/company/townhallventures/ (opens in a new window)⁠[15]