The only inclusion-driven venture fund focused on oral health.

Investment with impact. Rise Health Venture Capital (RISE) delivers on that promise by investing in the untapped talent among founders and owners with minimal access to an equitable distribution of healthcare startup funding and resources, specifically in the oral health space.

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Our Mission

Real inclusion, strength and empowerment for untapped talent and underserved businesses in the oral health space, including, but not limited to, women-, LBGTQ+- and minority-owned businesses.

01

Global

As the only inclusion-driven venture fund for oral health globally, we invest in founders solving difficult health and oral health problems, requiring the inclusion of ideas from diverse perspectives.

Specialized

We support healthcare companies directly and indirectly, including general health, with a focus on oral health. 

02

Empowering

We empower groups which have been historically oppressed in roles such as Owner, Founder, Chairperson, President and CEO, and/or leadership roles (C-suite, Board, senior level).

03

Open-Minded

We have a broad focus on inclusion of thought, not just represented by people, but by the way in which they do business.

04
Vision

Proven Foundation

Rise Health is built on decades of experience and a track record of backing high performing founders. We leverage medical and business breakthroughs as well as emerging technologies to improve the oral health and overall healthcare systems.

By leveling the playing field of access to startup capital at competitive terms, RISE can bring many quality products and companies to the next level, most of which may otherwise not be given the opportunity to fully benefit our healthcare systems.

Vision

Our Competitive Advantage

As dentists and well-connected business professionals, specifically in the DSO industry, we have unique access to modern ideas with a complete understanding of the market and how to implement products within it. We know where service and product gaps lie and how new ideas and products will be received. Further, Revere Partners, our partner and first VC fund on oral health, has a longstanding track record of successful investments and exits.

Since before the pandemic, RISE’s founding team has been hard at work on this platform, assembling the key pieces to build a sustainable fund approach. As such, we have access to:

  • One-of-a-kind published database of 600-700 oral health startups and their 1200-1400 transactions
  • 75+ person team consisting of world renowned dental leaders and experts
  • Proprietary tech stack with built-in management, matching and scoring infrastructure
  • State-of-the art fund administrative services from AngelList
  • 300+ startups in the pipeline, meeting 2-3+ new startups per day globally
  • Ecosystem of 15+ services to support startups (executive recruitment, executive coaching, DSO partnerships, VC co-investors, integrations, clinical evaluation and KOL marketing platform, regulatory infrastructure and counsel, IP counsel, industrial design, LMS and more)
Bottom line

In 2018, 32% of dentists were women and 28% were racial/ethnic minorities. In 2008, 23% were women and 22% were minorities. 

  • Of Seed and Series A stage oraltech startups, male leaders outweigh female leaders by 85.1% and 81.8%, respectively
  • Of rounds $500k-1m and $1m+, male oraltech founders outweigh female oraltech founders by 85.1% and 84.7%, respectively
  • Of rounds $2-10m and $10m+, male oraltech founders outweigh female founders by 85.2% and 87.5%, respectively


RISE fills a gap for groups that lack funding and lack of proper valuation for their business in the oral health space.

OUR SOLUTION

Modern Problems — Novel Solution

Offer investors a platform to diversify their startup portfolios and provide much needed capital to health and oral health founders with limited access and untapped potential.

Investors

Investor exposure is heavily concentrated in male dominated tech and consumer products.

Startups

Management and ownership are homogenous, lacking thought inclusion.

The Industry

Innovation in the dental industry is hindered by less-than-ideal capital flow.

Patients and Practices

Providers focused on the clinical aspects of their practices lack time or resources to maximize business opportunities.

research

What the data says

Our data is acquired from over 600 real companies and combined with conservative assumptions from experts in investing, acquiring, and operating companies across all facets of the oral care industry.

What it all means

The combination of strong returns and historical under-investment make for a profitable opportunity investing in dental startups.

Seed Round

Male % vs. Female %

Series A

Male % vs. Female %

Round Size

Male % vs. Female % Ownership
X

Valuation

Male Founded Companies vs. Female Founded Companies

Oral Health vs. Healthcare

Dental remains a small piece of the pie and is under-invested in, relative to its market size.

Risk Adjusted

Our research shows early stage companies offer a higher risk to return ratio relative to other common dental industry investment strategies.

Annual Return

While early stage companies are often seen as riskier investments, our research shows they offer a higher risk to return ratio relative to other common dental industry investment strategies.

process

Our Methodology

Real inclusion, strength and empowerment for untapped talent and underserved businesses in the oral health space, including, but not limited to, women-, LBGTQ+- and minority-owned businesses.

Partner

Partner with founders early and add value even before investing and help them unlock untapped potential.

Invest

Invest with a founder-friendly term sheet and dilute with the founder.

Enrich

Leverage our robust networks, advisory board, and marketing expertise to drive innovation and growth.

Recent Activity

Envista
IPO
$
620.0
Million
Vuno
IPO
$
270.0
Million
Tend
Series C
$
125.0
Million
Beam
Series E
$
80.0
Million
Neosis
Series D
$
72.0
Million
Membersy
PE Round
$
66.0
Million
uLab
Series E
$
54.5
Million
Brighter
Acquisition
$
49.0
Million
Dental Med
Acquisition
$
34.0
Million
Level
Series A
$
27.0
Million
CareStack
Series B
$
22.5
Million
Toothsi
Series B
$
20.0
Million
NexHealth
Series A
$
15.0
Million
Grin
Series A
$
14.0
Million
Smile MD
Series A
$
5.0
Million
Vision

Investment Targets

Tech - Diagnostics

  • Artificial Intelligence (AI)
  • Digital supply chain / online marketplaces
  • Telehealth (niche applications)
  • Electronic Health Records, charting data 
  • Reputation management / patient engagement

Consumer - Brands

  • Aesthetics / experience driven / IoT
  • Membership / subscription services
  • In-a-box dental solutions 
  • Upmarket premium product alternatives to the big brands 

Dental Services - Biotech

  • Mobile dentistry / community health 
  • Ortho / aligners 
  • Infection control
  • Implants, 3D printing, robotics 
  • Salivary / biomarker platforms

Payments - Reimbursement

  • Discount dental plans / memberships 
  • Retail healthcare 
  • Financing: revolving lines of credit, payment plans, loans, merchant fees
  • Revenue Cycle Management (RCM)
Strategy

Investment Strategy

The combination of strong returns and historical under-investment make for a compelling opportunity.

The combination of strong returns and historical under-investment make for a compelling opportunity.

  • Underlying thesis: An interconnected portfolio brings like-minded founders, compatible products, and services together to decrease fragmentation in the market and maximize investor value.
  • Target allocation: The greatest opportunity exists in early stage investments, such as Seed and Series A rounds. We will seek Board seats or observer rights, where possible. 
  • Maximizing value for investors: Our strategy enables flexibility to invest in follow-on rounds and special opportunities outside of Seed and Series A rounds.
Fund
Fund Structure

AngelList Rolling Fund

  • Cutting-edge subscription model for investing.
  • Series of consecutive, open-ended investment vehicles. 
  • Investors contribute assets on a quarterly subscription basis.

Administration

  • AngelList will handle all fund administration, valuation, legal, tax, and compliance.
  • Partners remain focused on investor relations and start-up deal flow and diligence. 

Cost Structure

  • Partners earn carried interest only after returning 100% of investor contributions over the subscription period.
  • Backing subscribers participate only in distributions from the quarterly funds to which they contributed. 
  • Subscription may be increased, decreased, or canceled at any time after the initial term.

Fund Details - Angels

Minimums

  • Partners invest $250k-1.5m in 2-3 deals per quarter.
  • Fund minimum target size: Y1 $10-12m; Y2: $30m; Y3 $50m.
  • Committed capital not deployed in a given quarter will roll forward into the next quarter.

Fees

  • 2% management fee and 20% carried interest.
  • Administrative fee 0.15%* per quarter charged to the fund by AngelList

Terms

  • Subscriptions commit an LP to contribute to at least 4 quarterly funds. Limited LP seats.
  • Average commitment of $25k per quarter and we prefer you stick around indefinitely!
  • Accommodate LP’s should they wish to invest more in a particular deal for reduced fees.
* Admin fee charged upfront, based on 0.15% of committed capital per quarter for 10 years.
team

Our Leadership

Real inclusion, strength and empowerment for untapped talent and underserved businesses in the oral health space, including, but not limited to, women, LBGTQ+- and minority-owned businesses.

Dr. Jeremy Krell

Managing Partner

Dr. Aman Kaur

General Partner

David Arena

General Partner

Dr. Clement Kairouz

Director of Marketing
Vision
Investment Thesis

Private healthcare companies with a focus on those in oral care with inclusion represented in their ownership structure and/or management team.

RISE is the first-ever inclusion-driven venture fund with a focus on oral health, bringing the best oral and systemic health startups and the brightest founders to market by matching them with exceptional investors and industry experts. With an intimate knowledge of the industry, RISE can help foster unrivaled strategic partnerships that will improve care delivery, as well as patients’ and providers’ experiences — thereby maximizing value for investors.

Dental Spending
  • 126M patients visit 200k dentists/year, 42% of Americans want to go more. 2.2m ER visits/year, costing $2.4bn.
  • $180bn ($390/person) and 3.7% of total health spending.
Insurance Usage
  • 45% of procedures funded by private insurance (vs. 34% for medical procedures).
  • 41% are out-of-pocket (vs. 10% for medical procedures).
Decline in Solo Practice
  • Dentists in solo practices decreased 11% in the past decade. Avg. net income $230k for general, $400k for specialists.
  • Dentists in Dental Service Organizations increased 8.3%.
Demographics
  • In 2018, 32% of dentists were women and 28% were racial/ethnic minorities. 
  • In 2008, 23% were women and 22% were minorities. 
*Source: American Dental Association and Health Policy Institute Annual Report
Spotlight

Choice

Female founded and owned!
$2m loans in 2020
$25m loans in 2021
$250m+ loans in 2022
Raising a Series A $5-10m with a valuation of $20-25m.
Visit Choice
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