Founded in 2000 in Cambridge, Massachusetts by entrepreneurs Joel Cutler and David Fialkow. Under CEO Hemant Taneja it transformed from a classic venture firm into a self-described "global investment and transformation company" spanning venture, growth, and even healthcare system ownership.
Multi-stage and thesis-driven, from seed to very large growth rounds; unusually willing to do unconventional structures (company creation, healthcare system acquisition, wealth management arm).
Healthcare, AI, fintech, defense/resilience, enterprise software
Stripe, Airbnb, Snap, HubSpot, Anduril, Ramp, Mistral AI, Samsara
HubSpot IPO, Snap IPO, Airbnb IPO, Livongo IPO
It is the only major VC firm that owns a hospital system: in 2024-25 it acquired Summa Health in Ohio to test its healthcare transformation thesis.
| Company | Rounds | Invested |
|---|---|---|
| Anthropic AI | 2 rounds | $43B |
| Stripe Fintech | 2 rounds | $13B |
| Helsing DeepTech | 4 rounds, 3 led | $1.6B |
| Anduril deeptech | 1 round | $1.5B |
| Lacework Cybersecurity | 1 round | $1.3B |
| Legora LegalTech | 2 rounds | $750M |
| Kavak Marketplace | 1 round, 1 led | $700M |
| Slate Auto Mobility | 1 round | $650M |
| Mistral AI AI | 1 round | $502M |
| Beacon Software SaaS B2B | 2 rounds, 2 led | $475M |
| Spinny Marketplace | 3 rounds, 1 led | $473M |
| PhysicsX AI | 3 rounds, 1 led | $467M |
| Hopin SaaS B2B | 1 round, 1 led | $400M |
| SonarSource DevTools | 1 round, 1 led | $388M |
| Cloaked Cybersecurity | 1 round, 1 led | $375M |
| Musely Healthtech | 1 round, 1 led | $360M |
| Parloa AI | 1 round, 1 led | $350M |
| Zepto E-Commerce | 1 round, 1 led | $340M |
| Black Forest Labs AI | 2 rounds | $331M |
| Black Forest Labs AI | 2 rounds | $331M |
| Cazoo E-Commerce | 1 round, 1 led | $311M |
| inDrive mobility | 2 rounds, 2 led | $300M |
| Deel HR Tech | 1 round | $300M |
| Rapyd Fintech | 1 round | $300M |
| Kalshi Fintech | 1 round | $300M |
| Remote HR Tech | 1 round | $300M |
| Ramp Fintech | 1 round | $300M |
| Vercel DevTools | 1 round | $300M |
| Applied Intuition ai_ml | 1 round | $250M |
| Factorial HR Tech | 2 rounds, 2 led | $230M |
| Beacon SaaS B2B | 1 round, 1 led | $225M |
| Shift Logistics | 1 round | $220M |
| Maven Clinic Healthtech | 2 rounds, 1 led | $215M |
| Nord Security Cybersecurity | 2 rounds | $200M |
| Standard Bots Robotics | 1 round, 1 led | $200M |
| Bilt Rewards Fintech | 1 round, 1 led | $200M |
| ICEYE SpaceTech | 1 round, 1 led | $174M |
| Render DevTools | 3 rounds | $170M |
| Stori Fintech | 1 round | $150M |
| Aidoc Healthtech | 1 round | $150M |
| Zego InsurTech | 1 round | $150M |
| General Intuition AI | 1 round, 1 led | $133.7M |
| FINOM Fintech | 1 round | $133.4M |
| Chai Discovery Biotech | 1 round | $130M |
| Superpedestrian Mobility | 1 round | $125M |
| Eightfold AI HR Tech | 1 round, 1 led | $125M |
| Multiverse EdTech | 2 rounds, 1 led | $114M |
| Hippocratic AI healthtech | 2 rounds, 2 led | $103M |
| Bugcrowd Cybersecurity | 1 round, 1 led | $102M |
| TravelPerk SaaS B2B | 1 round, 1 led | $101.2M |
| Nirvana Insurance InsurTech | 1 round | $100M |
| Step Fintech | 1 round, 1 led | $100M |
| Bloom & Wild E-Commerce | 1 round | $100M |
| CoinTracker Fintech | 1 round | $100M |
| Collaborative Robotics Robotics | 1 round, 1 led | $100M |
| Varda Space SpaceTech | 1 round | $90M |
| Moonvalley AI | 1 round, 1 led | $84M |
| Beauty Pie Consumer | 1 round | $83.8M |
| Nominal SaaS B2B | 1 round | $80M |
| Empathy Healthtech | 2 rounds | $77M |