IMPACTASSETS 50™
An Annual Showcase of Impact Investment Fund Managers
ImpactAssets 50
An Annual Showcase of Impact Investment Fund Managers
Foreground Capital
Diversity, Equity and Inclusion
Gender Equality
Health and WellbeingFirm Overview
Foreground Capital is an impact venture capital firm investing in early-stage women's health innovations. The Foreground team spun out of RH Capital in 2024 and will continue to manage the legacy funds, RH Capital Fund I and II. Foreground Capital will launch a new fund in late 2024.
Years of Operation: 5 – 9 years
% of Capital from Top 3 Investors: 25% – 49%
Foreground Capital invests in early-stage, transformative women's health innovations that promise to improve access, affordability, and equity of care.
Foreground Capital invests in Seed, Series A, and early-stage medical devices, diagnostics, therapeutics, digital health, health services and consumer health startups in the women's health space. Priority focus areas include: maternal health, contraception, fertility, menopause, gynecology, pelvic health, women's oncology, chronic conditions, and other high-impact areas that address the overall health of women. Utilizing an impact lens, we assess all prospective investments through our 4 impact pillars: 1. transformative innovation - technology that is dramatically improving health outcomes, 2. access of care for marginalized and underserved communities, 3. affordability of products and services for all women, and 4. systemic change - companies addressing inequities for historically underserved populations.
Foreground Capital (and our managed RH Capital funds) has become the venture firm of choice in women's health. Over the past 5 years, we have built the largest portfolio in the sector with 22+ high-impact companies representing a diverse cohort of founders (85% are women and/or BIPOC) across life sciences, digital health and tech-enabled services. Our team has deep venture investing, healthcare and clinical expertise, offering a unique value-add to our portfolio companies. We conduct rigorous and in-depth diligence from both a scientific/technical perspective as well as impact. In addition, we help to catalyze further investment into the sector by regularly sharing our diligence with other generalist funds in the space. We also take a board role with the majority of our companies and have increasingly started to lead deals.
Investment Example
Mae is a digital health platform supporting Black mothers through pregnancy and postpartum. Mae addresses disparities in maternal health outcomes by providing value-based services, including culturally-competent doula services, personalized birth plans, and pregnancy tracking. Mae's platform enables immediate detections of warning signs driving earlier inventions, improving outcomes and reducing cost of care. Mae's services are insurance-covered, and the company is committed to Medicaid-focused contracting with partners.
Leadership and Team
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Elizabeth Bailey – https://foreground.vc/team/ More Info
Elizabeth Bailey has over 20 years of experience in venture capital and supporting early-stage healthcare companies. She is currently a Co-founder and Managing Partner at Foreground Capital, a venture capital firm investing in early-stage women’s health start-ups. Elizabeth co-founded and led Foreground’s precursor funds at RH Capital, where she and her team built one of the largest dedicated venture capital portfolios in women’s health. At Foreground Capital, she continues to manage RH Capital funds and serves as a board director for Raydiant Oximetry and Testmate Health, and as a board observer for Bloomlife, Cayaba, Mae and Twentyeight Health. |
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Stasia Obremskey – Managing Partner More Info
Stasia Obremskey has been investing in women for her entire career, believing that the two most impactful things you can do for the world are to educate women and give them tools to manage their fertility. She is currently a Co-founder and Managing Partner at Foreground Capital, a venture capital firm investing in early-stage women’s health start-ups. Stasia co-founded and led Foreground’s precursor funds at RH Capital, where she and her team built one of the largest dedicated portfolios of venture-backed women’s health companies. |
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Dr. Alice Zheng – Partner More Info
Alice Zheng has been a women’s health enthusiast throughout her career spanning global health, clinical medicine, and the private sector. She is currently a Co-founder and Partner at Foreground Capital, a venture capital firm investing in early-stage women’s health start-ups. Previously, she was a Principal at Foreground’s precursor funds at RH Capital, where she and the team built one of the largest dedicated venture capital portfolios in women’s health. At Foreground Capital, she continues to manage RH Capital funds and serves as a board director for Seven Starling and Millie and as a board observer for AOA and Cofertility. |
Financial Performance
Impact Performance
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Percentage of Total Assets Under
Management that are Impact Investments: |
100%
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We have developed an impact assessment tool (rubric) to screen companies initially and, if we invest, we measure impact annually. The tool assesses companies across our four impact pillars: 1. Transformative Innovation: companies/technologies that are dramatically improving treatment or diagnostic protocols, or otherwise transforming health outcomes. 2. Access: the product or service is broadly accessible to all women, particularly for marginalized and underserved communities. 3. Affordability: the product or service dramatically reduces cost to the healthcare system or patient, and/or is insurance covered/reimbursed by private insurance and Medicaid 4. Systemic Change: the company's product or service addresses inequities for historically marginalized or underserved populations and the company has a demonstrated commitment to health equity
We intentionally evaluate the diversity and representation of the leadership team and board when assessing a prospective investment. Our evaluation also considers internal company policies, including a commitment to health equity.
Impact Tracking and Monitoring
Learn More
47 Kearny Street, Suite 600, San Francisco, CA 94108 USA
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