FemHealth Ventures has closed its second venture capital fund at $65 million, marking an oversubscribed raise and bringing the firm’s total assets under management to $100 million across two funds.
The New Jersey-based firm, which focuses exclusively on women’s health, announced the close on Tuesday. Fund II more than doubles the size of FemHealth Ventures’ inaugural fund and follows strong performance from Fund I, which launched in 2021 and is ranked as a top-decile performer across both DPI and IRR, according to data from Carta and Pitchbook.
The latest fund attracted backing from existing limited partners as well as new investors aligned with the firm’s focus on women’s health innovation and long-term financial returns. FemHealth Ventures said the raise reflects increasing investor interest in the sector as both a commercial opportunity and an area of unmet medical need.
“We are thrilled to announce the successful close of Fund II, more than doubling the size of our inaugural fund,” said Maneesha Ghiya, Managing Partner of FemHealth Ventures. “This raise reflects growing recognition that women’s health innovation offers both substantial societal impact and compelling investment potential. We are grateful for the trust our limited partners continue to place in us.”
FemHealth Ventures is known for introducing a structured approach to defining women’s health investment opportunities. In 2019, the firm launched the FemHealth Framework, which categorises women’s health conditions as those that occur only in women, mostly in women, or differently in women. The framework has since been widely adopted across the industry and is used to inform research priorities, corporate strategy and investment decisions.
Fund II will continue the firm’s strategy of investing across drugs, medical devices, diagnostics, and digital and AI-enabled technologies. The focus remains on addressing areas where women’s health needs have historically been overlooked or underfunded, while partnering with founders developing scalable solutions.
“The next generation of transformative women’s health companies will be led by visionary founders, and we are honored to support them,” said Sara Crown Star, Venture Partner at FemHealth Ventures.
The firm said the new fund will build on the momentum of its first portfolio, as interest in women’s health continues to grow among founders, healthcare systems and investors. FemHealth Ventures positions itself as a specialist investor in the space, aiming to combine sector expertise with disciplined venture capital investing.
With Fund II now closed, the firm plans to deploy capital across early and growth-stage companies that are working to improve health outcomes for women while generating competitive returns for investors.
About FemHealth Ventures
FemHealth Ventures is a women’s health–focused venture capital firm investing in breakthrough innovations that deliver meaningful health advances and strong investor returns. The firm has been featured in Forbes, The Wall Street Journal, Insider, and CNBC and manages $100 million in assets.
