For decades, women's health startups have struggled to attract venture capital. Founders working on everything from menopause and fertility to endometriosis and maternal health have been told their markets are too small, too complicated, or too risky.
But a growing group of investors has bet on the opposite. They see women's health not as a niche category, but as an enormous, underserved market with opportunities to build consequential businesses.
Some have launched funds dedicated entirely to women's health. Others are bringing their conviction to larger venture firms, investing across diagnostics, therapeutics, medical devices, and new models of care. What they share is a willingness to invest in problems that much of the venture industry has historically overlooked.
Here are ten investors and investing teams putting real capital behind the future of women's health (in no particular order):
1. Assia Grazioli-Venier and Rachel Springate, Muse Capital
Assia Grazioli-Venier and Rachel Springate founded Muse Capital in 2016, long before women's health became a mainstream venture capital investment thesis. Neither came from traditional healthcare investing. Assia's background spans entertainment, technology, and sports, including Spotify and Juventus Football Club, while Rachel built her career in brand partnerships and business development, previously serving as Global Head of Corporate Sales at Quintessentially.
Their interest in women's health is personal. Assia's experience with breast cancer helped inspire the firm's focus on underserved healthcare markets. Together, they've developed a strong track record backing consumer-oriented women's health companies.
Notable investments: BeSound, Cofertility, Collective X, Eli Health, Evvy, Future Family, Mahmee, Midi Health.
Muse looks for large markets that traditional investors have underestimated, particularly where consumer demand is already evident, but existing solutions fall short. The partners place considerable emphasis on founders' commercial instincts, compelling consumer experiences, and the ability to build distribution partnerships. They've also demonstrated a willingness to invest early, including leading Midi Health's pre-seed round in 2021.
2. Maryann Selfe, Calabar Capital
Maryann Selfe is approaching women's health investing from a different direction: institutional capital allocation. After roughly 25 years in private banking and investment management, including senior roles at Credit Suisse and BIL Suisse, she's building Calabar Capital to connect institutional investors and family offices with opportunities in women's health and precision healthcare.
Maryann is also the author of The Billion Dollar Blindspot, a book arguing that women's health represents a major structural mispricing in healthcare investing. While Calabar is still being developed, she has already been putting her own capital to work.
Personal investments: Calla Lily Clinical Care, Dama Health and MOMM Diagnostics.
Maryann is particularly interested in AI-powered diagnostics and prediction, sex-specific therapeutics, and innovations that support women's long-term health. But she's clear that an important mission alone doesn't make a good investment. She looks for strong clinical evidence, capable teams, credible commercialization strategies, sound economics, and a realistic path to generating returns.
3. Tatum Getty, THENA Capital
Tatum Getty spent much of her career helping consumer health and wellness businesses grow, working with brands including SoulCycle, Barry's Bootcamp, and Tonal. She brought that commercialization experience into venture capital as a founding general partner of London-based THENA Capital.
THENA invests in early-stage UK medical technology companies, particularly digital health platforms and medical devices, with an emphasis on helping them expand into the US market. Although women's health isn't its exclusive focus, the firm incorporates a gender-smart investing strategy and specifically targets healthcare gaps affecting women.
Notable investments: Béa Fertility, Daye, Plexāā, Samphire Neuroscience.
Tatum looks for clinically validated technologies addressing meaningful unmet needs, backed by founders who understand how to commercialize their innovations. The investment in Plexāā illustrates her approach: a product that could improve patient outcomes while also reducing costly complications for healthcare providers. She's particularly interested in helping promising UK innovations become globally scalable businesses.
4. Brit Morin, Offline Ventures
Brit Morin is best known for founding Brit + Co, the media and lifestyle company she built to serve a generation of women. Before becoming an entrepreneur, she worked in product roles at Apple and Google. Today, she's a co-founder and general partner of Offline Ventures, an early-stage venture firm that invests in and helps build companies across healthcare, consumer technology, and other sectors.
Brit has been a particularly visible supporter of startups improving fertility, reproductive healthcare, and motherhood. Her experience building consumer brands gives her a perspective on how women discover, choose, and engage with healthcare products and services.
Notable investments: Almond, Cofertility, Gaia Health (the biotech one, not the fertility financing one), and KindBody.
Offline Ventures' broader philosophy emphasizes companies that connect technology with real-world human needs. The firm also takes a hands-on approach to company creation, providing product, design, and engineering support alongside capital. Brit's women's health investments reflect an interest in founders who can rethink longstanding consumer experiences, build trusted brands, and create better alternatives to the status quo.
5. Stasia Obremskey and Elizabeth Bailey, Foreground Capital
Elizabeth Bailey and Stasia Obremskey are among the most experienced dedicated investors in women's health. They began building their portfolio through RH Capital in 2019 and launched Foreground Capital in 2024, continuing to manage the RH Capital funds.
Elizabeth has more than two decades of healthcare venture investing experience, including as a partner at impact investment firm Commons Capital. Stasia brings a background in finance, investment banking, consulting, and healthcare operations, including roles at Morgan Stanley, Bain & Company, and several healthcare organizations.
Notable investments: AOA Dx, Bloomlife, Cadence, Cirqle Biomedical, Cofertility, Eli Health, Evvy, Gesynta Pharma, Mae, Millie, Nadia, Neuspera, Novocuff, Nurx, OCON Healthcare, Ovia Health, Planera, Raydiant Oximetry, Seven Starling, TestMate Health, Twentyeight Health, Vitra Labs, YourChoice Therapeutics.
Foreground has one of the deepest portfolios in women's health, spanning biopharma, diagnostics, medical devices, digital health, and care delivery. Unlike investors who focus primarily on consumer applications, Elizabeth and Stasia actively embrace the scientific and regulatory complexity of healthcare innovation.
Their investment thesis is built around four priorities: transformative innovation, access, affordability, and systemic change. They look for businesses capable of improving the standard of care while delivering competitive financial returns, including technologies that address longstanding disparities in how women are diagnosed and treated.
6. Trish Costello, Portfolia
Trish Costello isn't just investing in women's health startups. She's working to change who gets to make investment decisions in the first place.
Before founding Portfolia, Trish helped develop the Kauffman Fellows Program and served as founding president of CVE Capital Corp., a venture capital fund-of-funds platform. She launched Portfolia to make venture investing more accessible to women and direct more capital toward innovations that address their needs.
Portfolia launched its first dedicated women's health venture fund in 2018 and has since built a portfolio spanning fertility, diagnostics, oncology, sexual health, and longevity.
Notable investments: Attn: Grace, FemDx Medsystems, Future Family, Gameto, Gennev, Hera Biotech, Hey Jane, Joylux, Lōvu Health, Madorra, Maven Clinic, Mirvie, Nest Collaborative, Proov, Veana Therapeutics, Willow.
Portfolia's model brings together a community of investors who participate in professionally managed venture funds. Its women's health strategy looks across multiple stages and technologies, from early diagnostics to medical devices and therapeutics. The firm places particular emphasis on solutions addressing significant unmet needs, supported by scientific expertise, commercial potential, and experienced investment partners.
Trish's larger ambition is to make women not just the beneficiaries of healthcare innovation, but the people financing it.
7. Maria Toler, SteelSky Ventures
Maria Toler founded SteelSky Ventures in 2017 after recognizing how often women and underserved populations were left out of healthcare innovation. A serial entrepreneur with an MBA from NYU Stern, she previously worked in healthcare operations and saw firsthand how access to care varied across patient populations.
SteelSky became an early specialist investor in women's healthcare, backing companies across maternal health, reproductive medicine, digital health, and healthcare delivery. Its investment strategy has since expanded into broader healthcare technology and AI, but women's health remains a significant part of its portfolio.
Notable investments: Cayaba Care, Commons Clinic, Mae, Midi, Origin, Proov, Raydiant Oximetry, Ruby Love, Twentyeight Health.
Maria looks for companies solving important problems in healthcare markets that have historically been overlooked. She places particular emphasis on the fit between founders and the problems they're solving, the commercial viability of a product, and its potential to improve access and outcomes. Her investments reflect a belief that underserved patient populations can represent attractive commercial opportunities, not simply social-impact priorities.
8. Carli Sapir, Amboy Street Ventures
Carli Sapir founded Amboy Street Ventures with a clear mission: increase venture capital investment in women's health and sexual health, two categories that have historically struggled to attract institutional funding.
Carli has a background in engineering and private equity. Before launching Amboy Street, she founded the Female Founded Club, a platform connecting women-led startups with venture investors. Her own healthcare experiences also helped shape her conviction that the industry needed more dedicated capital.
Notable investments: Alloy, Aunt Flow, Béa Fertility, Dame, Defiant Health, Evvy, Gennev, Gesynta, Granata Bio, Hey Jane, Juniper Genomics, Milkwise, Millie, Nest Health, Origin, Playground, TestMate.
Amboy Street invests across reproductive health, contraception, menopause, pelvic health, sexual wellness, and related categories. Its portfolio includes both consumer businesses and more clinically complex innovations, including therapeutics and diagnostics.
The firm looks for founders addressing meaningful gaps in existing healthcare and wellness markets, particularly where stigma or investor discomfort has historically limited innovation. Its approach also recognizes that improving women's reproductive and sexual health can involve investing in men's health, including male contraception.
9. Frédérique Dame, GV
Frédérique Dame brings a product and technology background to women's health investing. Before joining GV, Alphabet's venture capital arm, she helped scale Uber during its early years, leading major product and engineering initiatives as the company expanded globally. Earlier in her career, she worked on consumer products at Yahoo!, Photobucket, and SmugMug.
At GV, Frédérique helped establish the firm's women's health investing team and now leads its cross-functional group of investors and advisors focused on the category.
Notable investments: Allara Health, Kindbody, Midi Health, Oula Health, TMRW Life Sciences.
Frédérique has backed companies addressing menopause, hormonal conditions, maternity care, fertility, and reproductive healthcare infrastructure. Her investment in Midi Health, where GV led the company's Series A, is one example of her conviction that women's health can support large, scalable businesses.
Her investing philosophy emphasizes long-term founder relationships, trust, and product advancement. She brings particular expertise in building technology products that can scale, making her a relevant investor for founders rethinking healthcare delivery and the patient experience.
10. Jen Lee, Koss, Courtney Leimkuhler and Elana Berkowitz, Springbank
Courtney Leimkuhler and Elana Berkowitz co-founded Springbank to invest in an enormous economic opportunity that traditional venture capital has largely overlooked: the needs of women and working families. Courtney previously served as CFO of Marsh and held senior leadership roles at the New York Stock Exchange, while Elana worked in technology policy in the Obama administration and as an innovator-in-residence at CARE.
While Springbank's investment thesis extends beyond healthcare to include work, caregiving, and household finances, women's health has been an important part of its portfolio.
Notable investments: Alife Health, Origin, Aunt Flow, Level Zero Health, and Petal.
Springbank invests at the pre-seed and seed stages, looking for founders building the infrastructure needed to support changing household and societal needs. The partners believe that markets historically dismissed as "women's issues" are actually major economic opportunities. Their women's health investments range from AI-powered fertility technology and pelvic floor care to menstrual health and hormone monitoring.
If you're thinking about starting a company in this space, I've written a more detailed guide: Your Guide to Starting a Women's Health Company From Someone Who Has Done It (Twice).
Disclosure: I am a co-founder of Cofertility, which has received investment from Muse Capital, Foreground, and Offline Ventures. I know many of these others investors personally, and highly recommend all of them!
