IMPACTASSETS 50™

An Annual Showcase of Impact Investment Fund Managers

IA-50-2025-logo

An Annual Showcase of Impact Investment Fund Managers

ImpactAssets 50 Help Topics
Filtering:
Use the filter categories on the left to narrow down your results. You can switch years via the dropdown menu. The numbers next to each filter represent the number of results available given your current selection. If you'd like to start over, simply click the 'Reset All Filters'� link.
Sorting:
Use the dropdown menu found in the top right to arrange your current set of results. Select your preferred sorting option and wait for the results to refresh.
Printing:
Use the print button to print the current page contents. This works for both the summary view and the full Fund Manager detail view.
ImpactAssets 50: A Global Landscape of Impact Investment Fund Managers
The ImpactAssets 50 (IA 50) is the first open-source, publicly published database of experienced private debt and equity impact investment fund managers.
https://www.impactassets.org/impactassets-50

ImpactAssets 50

An Annual Showcase of Impact Investment Fund Managers

IA 50 2025 PROFILE

SteelSky Ventures

Total Assets Under Management: $50 – 99M
Asset Class: Private Equity
Primary UN Sustainable Development Goal: 3 – Good Health & Well-Being
Health and Wellbeing
Demographic-based Impact
Gender Equality

Firm Overview

Category: Venture Capital - Late Stage (Series A/B) - Developed Markets

SteelSky Ventures is a catalyst for equity and change. We invest with a higher-order purpose, which is aligned with both creating positive shareholder return, and progressing the state of women's healthcare by improving access, care, and health outcomes. We are changemakers, pioneering a new frontier in women's health, funding the overlooked, elevating the stigmatized, and investing in a better and healthier future for women around the world.

Firm Headquarters: United States
Years of Operation: 5 – 9 years
Total Assets Under Management:
$50 – 99M
Total Number of Investors: Between 5 – 25
% of Capital from Top 3 Investors: Less than 25%
Investment Thesis:

SteelSky Ventures invests in companies that improve access, care, and outcomes in women's health.

Investment Overview:

SteelSky Ventures invests in companies that create better access, care, and outcomes in women's healthcare. Our innovative approach allows investment across the spectrum of women's health indications and in technology infrastructure that supports new and innovative care delivery models impacting and improving women's health, preventing unnecessary surgeries and procedures, lowering medical costs for patients, providers, and payors, and significantly improving health outcomes in historically underserved populations.

Company Differentiator:

At SteelSky Ventures, we don’t just invest in women’s health—we are working at the highest levels to reshape the system itself. Our deep expertise in the space and strong relationships with key ecosystem players have led us to collaborate with the White House on crafting women's health strategy. We’ve championed policies to expand access and ensure equitable care for women, recognizing that policy gaps often hinder progress in this vital area. Through our advocacy, we’ve helped bring $12B of investment into women’s health and continue to drive meaningful change for overlooked populations. Our mission is not only to deliver great returns but also to catalyze systemic change.

Investment Example

SteelSky Ventures was proud to make the first investment in Midi Health, a virtual menopause clinic, during its pre-seed round. Since then, Midi has grown exponentially, now serving over 7,000 women every week and becoming the leading virtual menopause clinic in America. Menopause care is critical, as many women age out of the traditional healthcare system and find their needs overlooked. Midi Health is addressing this gap, providing much-needed care for a largely underserved population. In just three years, Midi’s tremendous increase in valuation has proven there is significant pent-up demand for women's health innovations. This success reinforces SteelSky's thesis: women’s healthcare is a vast and underinvested space ripe for transformation. We are excited to continue supporting Midi Health on its mission to revolutionize care for women in this crucial stage of life.

Leadership and Team

Cumulative Leadership Experience in Impact Investing:
30 years or more
Cumulative Impact Experience of Top Three Firm Leaders:
10 – 19 years
Maria Toler – Founding and Managing Partner More Info

Maria Toler is a serial entrepreneur and venture capitalist. She is the Founding Partner of SteelSky Ventures LLC, the leading women’s health VC fund. Under Maria’s leadership, SteelSky has grown its portfolio to 16 companies, built an ecosystem of strategic LPs and advisors across the healthcare landscape, and championed innovation in markets that have previously been overlooked and underserved. Maria speaks regularly on investing and entrepreneurship panels for organizations including the Milken Institute, the Aspen Institute, and the American Hospital Association. Maria has been named a 2022 USA Justice Fellow by Eisenhower Fellowships and the Blazer winner in the Firemakers category of the Atlanta Inno Fire Awards.

Casey Albert – Managing Partner More Info

SteelSky Ventures invests in early stage healthcare companies that improve care, access and outcomes.

Amy Lambert – Chief Financial Officer More Info

Amy is currently Chief Financial Officer for SteelSky Ventures, an emerging venture capital fund investing across women's healthcare. She has extensive experience working with companies from very early-stage to public company with a specific expertise in the middle market. Before joining SteelSky Ventures, Amy was the CFO for a PE-backed telecom infrastructure company and had her own consulting practice where she provided financial services to boutique investment banking firms, family offices, RIAs and directly to growth-stage companies in conjunction with capital rising activities Amy began her career with J.C. Bradford & Co.

Percentage of Investment Professionals who identify as women:
50% or more
Percentage of Investment Professionals who identify as people of color:*
50% or more
Percentage of Senior Management Team who identify as women:
50% or more
Percentage of Senior Management Team who identify as people of color:*
50% or more
*People of color include: Black/African American, Hispanic, Asian, Native People/Indigenous People, Native Hawaiian/Pacific Islander, Middle Eastern/North African and multiracial Americans.

Financial Performance

Target Financial Returns Relative to Benchmark:
Above Market Rates
Actual Performance of Impact Products/Funds Relative to Target Financial Returns in the Past Three Years:
Over-delivered compared to initial target returns
Financial Reporting Frequency to Investors or Donors
Quarterly

Impact Performance

Percentage of Total Assets Under
Management that are Impact Investments:
100%
Primary Impact Outcomes:
Increasing access to healthcare services and improving health
Secondary Impact Outcomes:
Increasing access to workforce development services, job skilling and retraining
Creating jobs
Increasing access to financial services
Addressing racial inequities
Addressing gender inequities
Value-added Services Offered:
Access to markets
Financial literacy training

Investments systematically target companies where social and/or environmental impact is integral to the product/service being created:

We systematically target companies that improve access, care, or health outcomes in women, addressing both impacts to health equity and gender equality.

Investments systematically include social and environmental sustainability practices in the due diligence process:

We seek to invest in diverse founders and teams that have a lens toward protecting the environment and not contributing to more medical waste. For example, billions of menstrual products are thrown in landfills each year and we invested in a sustainable reusable period underwear to cut down on waste. We also invested in Zipline, which seeks to reduce the carbon footprint for last-mile healthcare delivery services.

Impact Tracking and Monitoring

Impact is Tracked:
Yes
Impact Verified by an Independent Third-Party:
No
Social and/or Environmental Impact is Reported to Investors and Donors:
Yes – to investors and donors
Third Party Validations:
Member of Impact Capital Managers
Impact Frontiers Cohort Participant
Implement recommendations from Task Force on Climate Related-Financial Disclosure
Net Zero Assets Managers Initiative
Utilizes standardized impact metrics (e.g. IRIS+, GIIRS, etc.)
Participant on steering committees or leadership roles within impact industry associations
Publisher or contributor to industry white paper or other research in impact investing

Learn More

Key Contact Name: Maria Toler
Phone: 310-422-7032
Mailing Address:

3344 Peachtree Rd. NE, Suite 800, Atlanta, GA 30326 USA

Apply for the IA 50 2022

The application period to become an ImpactAssets 50 2022 Fund Manager will open in September 2021!
To stay informed on the application process, sign up here.

IA 50 2026: Apply for Consideration

The application period for the IA 50 2026 will open in September 2025. To stay informed on the application process, sign up here.