Atlanta has a new $72 million fund dedicated to addressing women’s HealthTech.
SteelSky Ventures, led by Maria Velissaris, closed its fund last week and is now the largest women’s healthcare VC fund in the country.
Named after the New York City skyline, SteelSky was initially launched in the Tri-State area before Velissaris moved down to Atlanta in 2020. The team is now run out of Atlanta with two in the city and others in New York and Seattle.
“Women’s health is a space that deserves increased focus and investment, and true innovation requires seeking out the expertise of founders with diverse experiences and perspectives,” she told Hypepotamus.
The fund will focus on late-seed and Series A investments and is particularly focused on tackling health conditions that disproportionately impact women, integrated care solutions, and using AI and machine learning to make healthcare more accessible. “We also are excited to look at high opportunity verticals in women’s health that have been overlooked such as menopause, culturally competent care options, and access for Medicaid, underinsured and uninsured,” Velissaris added.
So far the fund has invested in Atlanta-based Motivo, a video platform connecting clinical supervisors to mental health professionals, and 18 other investments from across the country.
HealthTech in Atlanta
Like many VCs, Velissaris was drawn to Atlanta for its “diverse talent pool and expansive healthcare networks.” That includes large medical institutions like Emory Healthcare, Morehouse School of Medicine, and the growing healthcare-focused startups.
Velissaris believes Atlanta can lead the women’s healthcare technology, a space that brought in just under $2 billion in investments last year.
“Innovation in healthtech is happening nationwide, not solely within the traditional healthcare VC hubs of New York, the Bay Area, and Boston. When investors fail to look beyond the coastal cities, they may overlook founders who are uniquely equipped to address some of the biggest challenges in healthcare today, such as strengthening access to care in rural areas, diverse communities, and providing culturally competent care,” she told Hypepotamus. “Our proximity to these emerging leaders and established innovators continue to grow our pipeline of potential investments. It also provides our existing portfolio companies with access to potential new talent, as well as organizations through which to test, refine, and launch their products and services.”