IN

Innovate Health Fund

VC
Toronto, CanadaWebsite
How to approach: warm intro preferred
Stage

Pre-Seed, Seed

Check Size

$500K – $2.5M

Portfolio

6+ companies

Team

3 partners

Investor activity
Investments in last 12 months: 0

Investment Thesis

Invests in cutting-edge biotechnology and healthcare enterprises that are addressing significant medical and scientific challenges.

Meet the Team

MT

Michael Tran

Investment Partner

HealthTech
Biotechnologies
JE

Jonathan Ellis

Managing Partner

B2B tech
Seed-stage investments
Healthcare
Insurtech
Fintech
Regtech

Founder & Managing Partner of Sandalphon Capital, focused on seed-stage B2B tech investments since 2016. Previously Senior Vice President at Macquarie, investing in private equity and private credit across sectors including B2B SaaS, healthcare, specialty finance, real estate and infrastructure. Has experience across 50 prior fund portfolio companies, 10 startup board roles, and 30 angel investments. Holds a Masters in Finance from INSEAD and a BSc from the University of Manchester.

NR

Nevin Ramanujan

General Partner

Healthcare
Healthcare venture investing
Health equity
Corporate development
M&A

Has been venture investing in healthcare as an investor at Sandalphon Capital since 2022 and co-founded and managed the Health Equity investment strategy at the Tarrson Impact Fund. Previously managed and led M&A and investing at Elevance Health as part of the Corporate Development team, contributing to growth of its government insurance business and Carelon through acquisitions including Aspire Health and Beacon Health Options. Earlier career in private credit investing. Has managed and led over $5 billion in aggregate transactions. Holds an MBA from the University of Chicago Booth School of Business and a BA from the University of Washington.

Industry Focus

Invests In

Other
Healthcare
Enterprise
SaaS

Does Not Invest In

Consumer Electronics

Portfolio Companies (6)

Other

HE

HealthBridge Systems

HealthTech
CE

Century Health

"Discovered via firm_website (high confidence)"

Accelerating medical breakthroughs with real-world data

SW

Switchboard Health

InnovateHealth Ventures

"Discovered via firm_website (high confidence)"

A hybrid virtual and brick-and-mortar specialty network and software platform

AR

Array Behavioral Care

"Discovered via firm_website (high confidence)"

The leading and largest telepsychiatry service provider in the United States

ME

Metopio

"Discovered via firm_website (high confidence)"

Ridiculously easy data tools to help understand places & populations for healthcare

IT

Itiliti Health

"Discovered via firm_website (high confidence)"

A touchless prior authorization process that is fast and efficient for payors and providers.

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Frequently Asked Questions

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