Health tech venture firm OTV closes new $170 million fund and expands into Asia – WhatsTele

OTV (previously referred to as Olive Tree Ventures), an Israeli project capital company that makes a speciality of virtual well being tech, introduced it has closed a brand new fund totaling $170 million. The company additionally introduced a brand new administrative center in Shanghai, China to spearhead its expansion within the Asia Pacific area.

OTV recently has a complete of eleven corporations in its portfolio. This yr, it led rounds in telehealth platforms TytoCare and Lemonaid Well being, and its different investments come with genomic system studying platform Emedgene; microscopy imaging startup Scopio; and at-home cardiac and pulmonary observe Donisi Well being. OTV has begun making an investment in additional B and C rounds, with the objective of serving to corporations that experience already validated merchandise maintain laws and different problems as they make bigger.

OTV makes a speciality of virtual well being merchandise that experience the possible to paintings in numerous nations, make healthcare extra reasonably priced, and fill gaps in beaten healthcare methods.

Jose Antonio Urrutia Rivas will function OTV’s Head of Asia Pacific, managing its Shanghai administrative center and serving to the company’s portfolio corporations make bigger in China and different Asian nations. This brings OTV’s workplaces to a complete of 4, with different places in New York, Tel Aviv and Montreal. Sooner than becoming a member of OTV, Rivas labored at monetary company LarrainVial as its Asian marketplace director.

OTV was once based in 2015 via normal companions Mayer Gniwisch, Amir Lahat and Alejandro Weinstein. OTV spouse Manor Zemer, who has labored in Asian markets for over 15 years and spent the closing 5 residing in Beijing, informed WhatsTele that the company made up our minds it was once the suitable time to make bigger into Asia as a result of “virtual well being is already extremely well-developed in lots of Asia-Pacific nations, the place virtual well being merchandise supplement in-person healthcare suppliers, making that area a herbal are compatible for a project capital company that specialize in the sphere.”

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He added that OTV “sought after to capitalize on how the COVID-19 pandemic has thrust the internationalized and interconnected nature of the arena’s healthcare infrastructures into the limelight, even supposing virtual well being was once a expansion space lengthy sooner than the pandemic.”