OTV, a digital health-centered VC firm based in Israel, announced it has closed a new global fund with a total value of US$170 million.
OTV’s head of Asia Pacific Jose Antonio Urrutia Rivas / Photo credit: Linkedin
It also announced the appointment of Jose Antonio Urrutia Rivas as the head of its new Asia Pacific office that’s based in China. The new office will complement the firm’s existing branches in New York, Tel Aviv, and Montreal, and will offer portfolio companies the opportunity to expand in the region.
Formerly known as Olive Tree Venture, OTV looks for mid-growth stage opportunities in the healthcare, tech, private equity, and financial services markets across Israel, the US, and Asia.
It has been guiding digital health startups since 2015, helping them with their go-to-market strategies and investing in late-stage funding rounds. OTV also helps facilitate startups’ global expansion through mergers and acquisitions as well as initial public offerings.
Some of its portfolio companies in the digital health space include TytoCare, Lemonaid Health, Emedgene, Scopio, and Donisi Health.
“The Covid-19 pandemic elucidated the importance of digital products to the global healthcare ecosystem, but industry pain points predate the current crisis and clear solutions will be needed in the years to come,” said Alejandro Weinstein, general partner at OTV.
According to data from Statista, the global digital health market is expected to reach nearly US$640 billion by 2026, with a compound annual growth rate of 28.5% from 2020 to 2026.
Editing by Miguel Cordon
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