Santé Ventures Closes $330 Million Fund to Fuel Next Wave of Healthcare Innovation

AUSTIN, Texas – February 02, 2026 – In a powerful demonstration of investor confidence, early-stage healthcare investment firm Santé Ventures today announced the successful closing of its fifth and largest fund, securing $330 million in committed capital. The fund, known as Fund V, surpassed its initial target of $300 million, signaling robust appetite for deep science and technology ventures poised to solve critical medical challenges.

The achievement arrives amidst a complex venture capital landscape where fundraising has become increasingly selective. While overall healthcare investment has shown resilience, growing from $20 billion in 2023 to $23 billion in 2024, capital is concentrating with firms that possess a proven track record. Santé’s oversubscribed fund underscores its established position as a premier partner for entrepreneurs at the forefront of medical advancement.

"Fund V represents a continuation of our mission to partner with exceptional entrepreneurs driving breakthrough science and transformative healthcare solutions," said Kevin Lalande, Founding Managing Director and Chief Investment Officer at Santé. "We are deeply grateful for the support of our limited partners, who share our conviction that innovation at the intersection of science, medicine, and technology can fundamentally improve patient outcomes."

The fund closing was accompanied by the promotion of two key leaders, Dennis McWilliams and Omar Khalil, to the role of Managing Director, reinforcing the firm's strategic depth as it prepares to deploy the new capital.

A Strategy Focused on High-Impact Innovation

With Fund V, Santé Ventures will continue its disciplined strategy of thematic investing, rigorous scientific diligence, and hands-on company creation. The firm plans to lead or co-lead Seed and Series A investments in biotechnology, medical technology, and digitally enabled healthcare companies. Its focus remains on addressing significant unmet needs, particularly in areas marked by clinical complexity, capital inefficiency, or outdated models of care delivery.

This approach is particularly relevant as the market pivots. Recent industry data shows a trend toward smaller, early-stage deals, especially in digital health, and a surge in technologies leveraging artificial intelligence. In 2025, AI-driven diagnostics and care platforms attracted nearly 70% of all dollars raised in the sector. Santé is well-positioned to capitalize on this shift, with existing portfolio companies like OutcomesAI, which develops AI-assisted clinical support tools, and Graici, an AI data company automating Medicaid processes.

The firm's investment thesis also targets tangible advancements in biopharma and medical devices. The biopharma sector has seen its share of venture capital more than double since 2018, and Santé’s leadership has indicated a focus on backing biotech companies that are moving closer to clinical trials. This strategy aims to de-risk investments while accelerating the path of novel therapies to patients.

A Legacy of Success and Strengthened Leadership

Santé's ability to attract significant capital is built on a foundation of consistent success since its inception in 2006. The firm, which now manages over $1 billion, has been the lead venture investor in numerous high-profile acquisitions by industry giants. Its portfolio of successful exits includes heart implant maker Laminar (acquired by Johnson & Johnson), electrophysiology innovator Farapulse (Boston Scientific), healthcare data pioneer Explorys (IBM Corp), and genomics company AbVitro (Bristol Myers Squibb).

This track record is now bolstered by the expanded leadership team. The promotions of Dennis McWilliams and Omar Khalil to Managing Director signal a deepening of the firm's internal expertise. McWilliams is a serial life science entrepreneur with a history of commercializing medical technologies globally. Before joining Santé, he founded Apollo Endosurgery, a medical device company he took public. His deep experience in engineering and hands-on company building is a significant asset to Santé's portfolio companies.

Khalil has been instrumental in shaping the firm’s investment strategy, particularly in navigating the post-pandemic market. His insights have helped steer the firm toward opportunities with clear clinical pathways and robust data.

"Dennis and Omar have been instrumental to our success and embody the collaborative, science-driven approach that defines Santé," Lalande stated. "Their leadership meaningfully strengthens our ability to partner with world-class founders and build companies that make a lasting impact on healthcare."

Positioning in a Competitive Healthcare Arena

The successful fundraise places Santé Ventures in a strong competitive position within a dynamic and increasingly crowded field. Major players like Andreessen Horowitz, with its dedicated Bio and Health fund, and specialized firms like Healthier Capital are also deploying significant capital into the sector. However, Santé's focused, early-stage strategy and its hands-on, company-creation approach serve as key differentiators.

By securing $330 million, the firm has armed itself with the necessary resources to not only identify but also actively build the next generation of transformative healthcare companies. The expansion of its limited partner base, which includes a growing number of international investors, further validates its long-term strategy and global reputation. As capital continues to flow toward proven managers, Santé's combination of fresh funding, a stellar track record, and fortified leadership positions it to continue shaping the future of medicine for years to come.