The firm currently has $550m in assets under management across three venture capital funds. Its LPs include Ascension, Catholic Health East, Catholic Health Initiatives, Decatur Memorial Hospital, Dignity Health, Intermountain Healthcare and Mercy.
Ascension senior managing director Matthew Hermann said, “We are excited about the investment opportunities we are seeing that can help our limited partners achieve their strategic goals.
“Given the changes ahead, our partners are more willing to pilot and adopt solutions earlier than ever before. At the same time, our private equity co-investors recognize the value of having the voice of the customer in the boardroom.
“Our name is changing, but our strategy is a continuation of the same one we have deployed since we started our first venture fund more than 12 years ago.”
Ascention Ventures’ portfolio companies include business intelligence technology provider Quantros and PathoGenetix, which develops an automated system for rapid bacterial identification.
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