Town Hall Ventures raises $440M for AI healthcare in underserved communities

New York-based Town Hall Ventures has closed its fourth fund at $440 million, marking a significant expansion of the venture capital firm’s mission to bring AI and healthcare innovations to underserved communities across America. The fund positions Town Hall to accelerate investments in healthcare technology companies that prioritize serving the 1 in 5 Americans currently reached by the firm’s portfolio, with a particular focus on AI-driven solutions that can lower costs and improve care access.

What you should know: Town Hall Ventures has built a track record of investing in healthcare companies that specifically target underserved populations since its founding in 2018.

• The firm has invested in 42 companies across various stages, including notable portfolio companies like Thyme Care, Strive Health, Qualified Health, and Ambience Healthcare.
• Fund IV will specifically target companies using AI as a core capability to transform healthcare delivery for under-resourced communities.

The big picture: This fundraise reflects growing investor confidence in the intersection of healthcare equity and profitable business models, particularly as AI technologies mature.

• The fund’s focus on underserved communities addresses a significant market gap where population need and business opportunities traditionally haven’t aligned.
• Town Hall’s approach demonstrates that serving marginalized populations can generate both social impact and financial returns.

Leadership expansion: The firm is strengthening its team alongside the capital injection with two key hires.

• Catherine Olexa-Meadors joins as head of partnerships and growth to advance portfolio company success across the VC’s network.
• Will Stokes, co-founder of portfolio company Strive Health, will rejoin Town Hall to lead the firm’s company-creation studio named Hatch.
• These additions will work alongside current partners Andy Slavitt, David Whelan, Meera Mani, and Anna Fagin.

What they’re saying: Leadership emphasized the fund’s mission-driven approach to healthcare innovation.

• “With Fund IV, we will accelerate our mission by backing founders and technologists who are using AI as a core capability to lower costs, improve outcomes, and expand access to high-quality care for tens of millions of people underserved by the healthcare system,” said Meera Mani, general partner at Town Hall Ventures.
• Limited partner John Doerr, a prominent Silicon Valley investor, highlighted the firm’s unique approach: “The obsession that the Town Hall team has with turning mission into business alpha has made it easy for me to join them in all four of their funds. Population need and big business opportunities aren’t the same thing. It takes a special group of people to see that intersection and turn it into reality.”

Why this matters: The successful fundraise signals growing recognition that healthcare equity can drive both social impact and strong returns, particularly as AI tools become more sophisticated at addressing complex care delivery challenges in underserved markets.