How many investments has Excel Venture Management made?

Excel Venture Management has 36 tracked investments, 6 of which have exited.

What stage does Excel Venture Management invest at?

Excel Venture Management invests at the Seed, Series A, Series B, Series C, Late Stage stages.

What is Excel Venture Management's typical check size?

Excel Venture Management typically writes checks of $1M – $5M.

What sectors does Excel Venture Management focus on?

Excel Venture Management focuses on Biotech, Digital Health, Healthtech, Medical Devices.

Where is Excel Venture Management located?

Excel Venture Management is headquartered in Boston, US.

Who does Excel Venture Management co-invest with?

Excel Venture Management most often shares deals with Merck Global Health Innovation Fund, MSD Global Health Innovation Fund, New Enterprise Associates (NEA), among 51 tracked co-investors.

Excel Venture Management

Venture capitaloperating company · company profile

Boston · Seed–Late Stage · 7 people tracked

Also known as EXCEL VENTURE MANAGEMENT, LLC

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Investment thesis

Excel Venture Management focuses on building companies that leverage transformative life science technologies to address challenges in healthcare and beyond. Its investment portfolio is diversified across several categories, including healthcare IT and services, diagnostics, medical devices, and life science platforms.

Invests inBiotech Digital Health Healthtech Medical Devices Boston United States

Source: firm website, verified Sep 29, 2026.

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Stage

Seed–Late Stage

Check

$1M – $5M

Boston, Massachusetts, US

Instruments

Equity

Founded

2008

AUM

$125M

VC funds

Tracked investments

IPOs

Acquisitions

Team · 7 people

from the firm's website & public directories

Caleb Winder· Managing Director· Suffolk County, Massachusetts, United Statesin

Brings nearly 25 years of operating, startup, and financing experience in life science and healthcare, sourcing and structuring investments and supporting portfolio companies. Previously a Principal at Biotechonomy Ventures and also serves as Managing Director of the MemorialCare Innovation Fund.

cwinder@excelvm.com

Juan Enriquez· Managing Director· Boston, Massachusetts, United Statesin

An authority on the economic impact of life sciences, author, and speaker who has led numerous Excel investments. He was founding director of Harvard Business School's Life Sciences Project and co-founded Synthetic Genomics.

jenriquez@excelvm.com

Steve Gullans· Co-Founder and Special Advisor

Co-founded Excel Venture Management in 2008 and served as Managing Director for 10 years, focusing on disruptive life science platforms. A former Harvard Medical School faculty member, he has served on many company boards and co-founded Thynk, Inc.

Govinda Sumberg· Executive Coordinator· Waltham, Massachusetts, United Statesin

Brings over 25 years of financial services experience and was previously a Regional Business Administrator at Credit Suisse Private Banking, N.A.

Jeanne Henry· CFO· Waltham, Massachusetts, United Statesin

Joined Excel in 2009 with over 18 years of venture capital financial management experience. She was previously CFO at Atlas Venture and an Audit Manager at Coopers & Lybrand, and is a Certified Public Accountant.

Tricia Brock· Vice President of Finance and Administration· Suffolk County, Massachusetts, United Statesin

Oversees operational, financial, and administrative functions at Excel, bringing 27 years of private equity experience. She previously served as Director of Finance and Administration at CB Health Ventures.

Chris Seitz· Venture Fellow

cseitz@excelvm.com

What they invest in

from 21 of 36 portfolio companies

Healthtech ×14Biotech ×8Digital Health ×7AI & Machine Learning ×4Medical Devices ×4Enterprise Software ×3Consumer ×2Cybersecurity ×2

HQs:United States×24Canada×1Netherlands×1

Investments · 36 tracked

founders shown can be your intro path

By year:2023 · 2 2021 · 1 2020 · 1 2018 · 2 2017 · 2 2016 · 2 2015 · 2 2014 · 214 dated

Aileron Therapeuticsreintx.com inNASDAQ: RNTXDec 2016

Aileron Therapeutics is a clinical-stage biopharmaceutical company developing peptide and protein-based therapies for rare lung and fibrosis diseases.

BiotechCambridge, US

Manuel Aivado(Executive Officer)inBrian Windsor(President and Chief Executive Officer; Director)in

BoardSeth L. Harrison(Director)Reinhard J. Ambros(Director)Joseph A. Yanchik III(Executive Officer, Director)in

Board seatCaleb Winder· per SEC Form D

Co-investorsNovartis Venture Fund

NeuroBo Pharmaceuticalsmetaviatx.comNASDAQ: MTVAMar 2017SEC filingmedium confidence

MetaVia is a clinical-stage biotechnology company developing therapeutics for cardiometabolic diseases, including DA-1726 for obesity and vanoglipel (DA-1241) for Metabolic Dysfunction-Associated Steatohepatitis (MASH).

BiotechHealthtechCambridge, US

Mina Sooch(Executive Officer)Hyung Heon Kim(Executive Officer, Director)Margaret McShane(Executive Officer)David Lowenschuss(Executive Officer)Marshall Woodworth(Chief Financial Officer)Charles Bisgaier(Executive Officer)

Board seatSteve Gullans· per SEC Form D · $12.5M raise · filed Mar 2017

Co-investorsGREAT LAKES BAY VENTURE

Agilentagilent.com inNYSE: A

Agilent manufactures laboratory instruments, software, reagents, and consumables for pharmaceutical, diagnostics, clinical research, and applied markets including chemicals, food, and environmental sectors.

William Redington HewlettPadraig McDonnell(President and Chief Executive Officer)in

Co-investorsCalifornia Technology Ventures Catalyst Health Ventures LAV

ClearDATAcleardata.com in 𝕏✓ verified

ClearDATA is a cloud security and compliance platform purpose-built for healthcare organizations.

Cloud ComputingCybersecurityDigital HealthHealthtech

Rick Froehlich(President & Chief Executive Officer)in Jim Ducharme(Chief Technology Officer)in Gregg Bjork(Chief Revenue Officer)in Drew Schaal(Chief Financial Officer)in Carol Boone(Vice President of People)in

Co-investorsFlare Capital Partners Merck Global Health Innovation Fund Norwest Venture Partners Heritage Group HLM Investment Partners MSD Global Health Innovation Fund

Qstreamqstream.com in 𝕏✓ verified

Qstream offers a microlearning platform with AI tools that turn existing content into short, scenario-based training courses.

AI & Machine LearningEdTechSaaSBurlington, US

Duncan Lennox(Executive Officer, Director, Promoter)inBranch Price Kerfoot(Director)

BoardHambleton Lord(Director)in Shay Garvey(Director)inGaye Bok(Director)Harold Copperman(Director)

Co-investorsDelta Partners Launchpad Venture Group Enterprise Ireland Bantam Group Frontline Ventures Polaris Partners

Censinetcensinet.com inJan 2023SEC filingmedium confidence

Censinet provides risk management solutions for healthcare organizations, built by former healthcare operators and security experts who understand the integrated risks healthcare systems face.

CybersecurityEnterprise SoftwareHealthtechSaaSBoston, US

Ed Gaudet(Founder)in Cambrey Ware in

Board seatCaleb Winder· per SEC Form D · $9M raise · filed Jan 2023

Co-investorsBallad Ventures Excelerate Health Ventures HLM Investment Partners MemorialCare Innovation Fund Schooner Capital LRVHealth +1 more

Infobionicinfobionic.comOct 2023

InfoBionic.Ai develops a remote cardiac monitoring platform called MoMe ARC that combines AI-powered ECG analysis, interchangeable biosensors, and clinical analytics to enable hospital-grade cardiac telemetry outside traditional hospital settings.

AI & Machine LearningHealthtechMedical DevicesLowell, US

Steven Wasserman(Executive Officer)Nancy Briefs(Executive Officer, Director)

BoardCarl Berke(Director)Al Wiegman(Director)Hamid Tabatabaie(Director)

Board seatCaleb Winder· per SEC Form D

Co-investorsBroadview Ventures Healthtech Capital Keiretsu Forum

Neosensoryneosensory.comDec 2018

Houston, US

David Eagleman(Executive Officer, Director)Scott Novich(Executive Officer, Director)

Board Jon Callaghan(Director)in

Board seat Juan Enriquez· per SEC Form D

Co-investorsHCVC Joyance Partners Western Technology Investment DigiTx Partners LLC True Ventures

WellDocwelldoc.com in 𝕏Dec 2015

Welldoc develops an AI-driven digital health platform focused on cardiometabolic disease management, providing personalized treatment solutions for patients with diabetes and related conditions.

AI & Machine LearningDigital HealthHealthtechBaltimore, US

Ryan Sysko(Executive Officer, Director)in Suzanne Clough(Executive Officer)in Kevin McRaith(President and CEO)in Anand Iyer(Chief AI Officer)in Chris Bergstrom(Executive Officer)in

BoardTerry Lierman(Director)

Board seat Juan Enriquez· per SEC Form D

Co-investorsMerck Global Health Innovation Fund Samsung Ventures Asset Management Company DigiTx Partners LLC MSD Global Health Innovation Fund TCP Venture Capital +2 more

Aileronrxaileronrx.com in

Awarixmckesson.com in 𝕏

McKesson distributes pharmaceuticals and medical supplies to pharmacies, hospitals, doctors' offices and clinics across North America, and provides technology and services covering specialty and cancer care, medication access and affordability, and pharmacy financial support.

Digital HealthHealthtechLogistics & Supply Chain

Co-investorsNew Capital Partners

Cleveland HeartLabclevelandheartlab.com 𝕏Jun 2014

Cleveland HeartLab provides diagnostic blood tests that use a multimarker approach, including inflammatory biomarkers such as hsCRP and MPO, to assess and stratify an individual's cardiovascular disease risk.

BiotechDigital HealthHealthtechCleveland, US

Rebecca Holland(Executive Officer)Pamela Gornall(Executive Officer)Jacob Orville(Executive Officer, Director)

BoardSteve Gullans(Director)William Cadogan(Director)Gus Lawlor(Director)

Co-investorsMutual Capital Partners Advantage Capital Partners HealthCare Ventures, LLC

Decisionresourcesgroupdecisionresourcesgroup.com in 𝕏

Decision Resources Group (now Clarivate) provides data and solutions spanning the healthcare ecosystem to help clients make informed decisions.

Data & InfrastructureDigital HealthEnterprise SoftwareHealthtech

IlluminOssilluminoss.comAcquired

IlluminOss Medical makes a light-curable, patient-conforming intramedullary implant for minimally invasive fracture repair.

Co-investorsLongwood Fund Pappas Capital Slater Technology Fund

Intact Vascularphilips.com in 𝕏

Philips develops health technology and consumer products for patients, healthcare providers, and households, with an emphasis on durable, recyclable products.

Circular EconomyConsumerHealthtechMedical DevicesAmsterdam, NL

Co-investorsNew Enterprise Associates (NEA)Sanderling Ventures H.I.G. BioHealth Partners H.I.G. Capital

Meetzipongomeetzipongo.com in

Molecular Templates in

Focused on Engineered Toxin Bodies immunotoxins for cancer treatment.

BiotechAustin, US

Eric E. Poma(Executive Officer, Director)Jason S. Kim(Executive Officer)David R. Hoffmann(Director)David Hirsch(Director)David Valacer(Executive Officer)Harold Selick(Director)

Co-investorsLongitude Capital Sante Health Ventures

Open Wateropenwater.health in 𝕏

Openwater develops an imaging platform using two optical modalities designed to diagnose and monitor diseases at the size and cost of a smartphone.

AI & Machine LearningDeep TechHardwareHealthtechMedical DevicesSan Francisco, US

Dr. Mary Lou Jepsen(Executive Chairman & Founder)in

Co-investorsAIR Capital Bold Capital Partners Cleveland Avenue Collaborative Fund Colter Lauder Partners +5 more

Orionis Biosciencesorionisbio.com in 𝕏

Orionis Biosciences discovers and engineers molecules that connect proteins on or within cells to reprogram disease-driving processes or activate immune responses.

BiotechDeep TechNewton, US

Nikolai Kley(Founder)inNikolai Kley, Ph.D.(Executive Officer, Director)

BoardGriet Vanpoucke, Ph.D.(Director)Steven R. Gullans, Ph.D.(Director)

Co-investorsEmpire Angels Solari Capital Solasta Ventures V-Bio Ventures Wessel Management

Saladax Biomedicalsaladax.com in

Saladax Biomedical develops blood-level tests that help psychiatrists and oncologists determine correct individual drug dosages based on patient metabolism, supporting treatment decisions and reducing toxicity risk.

BiotechDigital HealthHealthtechMedical Devices

Co-investorsDelaware Crossing Investor Group Life Sciences Greenhouse Investments Golden Seeds

Shapeshape.com

Shape is a digital wellness media publication offering science-backed articles, product reviews, and expert advice on fitness, health, and wellness.

ConsumerMedia & EntertainmentWellness & FitnessNew York, US

Co-investorsBeechwood Capital C5 Capital Cue Ball EPIC VENTURES HPE Growth Kleiner Perkins +1 more

Syntheticgenomicssyntheticgenomics.com in

Synthetic Genomics provides independent reviews and research on online casinos in Canada, focusing on payment methods, licensing, payout speed, and responsible gambling protections rather than promotional bonuses.

Marketplaces

Tetraphase Pharmaceuticals inJan 2020acquired by La Jolla Pharmaceutical Company · Jul 2020 · $43M

Tetraphase Pharmaceuticals was a Watertown, MA biopharmaceutical company developing novel tetracycline antibiotics, including its lead drug Xerava (eravacycline) for multidrug-resistant bacterial infections.

BiotechWatertown, US

Guy Macdonald(Director)inLarry Edwards(Executive Officer, Director)inMaria Stahl(Executive Officer)inChristopher Watt(Executive Officer)

BoardL. Patrick Gage(Director)Keith Maher(Director)

Co-investorsBay City Capital F-Prime Capital Flagship Ventures Mediphase Venture Partners

Thermo Fisher Scientificthermofisher.com in 𝕏Feb 2014Acquired

Thermo Fisher provides life science products and laboratory equipment, including antibodies, consumables, biobanking resources, and Cryo-EM imaging systems for research labs and scientists.

BiotechEnterprise SoftwareHardwareHealthtechWaltham, US

Anthony Uzzo(Executive Officer, Director)inJoshua Geballe(Executive Officer, Director)James Gregory(Executive Officer, Director)Marc N. Casper(Executive Officer, Director)inAndrew J. Thomson(Executive Officer)Peter M. Wilver(Executive Officer)

Co-investorsARCH Venture Partners BayMed Venture Partners Cross Creek Advisors Heran Partners Highsage Ventures Oak HC/FT +6 more

Wellboxwellbox.care in 𝕏Jan 2017

Wellbox provides nurse-delivered chronic care management (CCM) services, offering monthly patient interactions and preventative care support for individuals with multiple chronic conditions.

Digital HealthHealthtechJacksonville, US

Nathaniel B. Findlay(Executive Officer)

BoardMatthew Downs(Director)Vincent Chiara(Director)Nashaat Daniel(Director)Ian Ihnatowycz(Director)Leonard B.C. Schlemm(Director)

Co-investorsBeresford Ventures Excelerate Health Ventures LRVHealth Tamiami Angel VentureSouth

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

1EQ Farmer Willie's ShapeUp Zipongo Aventura HQ, Inc.ClearData NetworksDnaeGemphireLantos TechnologiesTphaseVirgin Pulse

Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.

Exits · 6

3 IPOs · 3 acquisitions · showing 4

Aileron TherapeuticsNASDAQ: RNTXNeuroBo PharmaceuticalsNASDAQ: MTVAAgilentNYSE: ATetraphase Pharmaceuticalsacq. by La Jolla Pharmaceutical Company

Frequently asked questions

How many investments has Excel Venture Management made?: Excel Venture Management has 36 tracked investments, 6 of which have exited.
What stage does Excel Venture Management invest at?: Excel Venture Management invests at the Seed, Series A, Series B, Series C, Late Stage stages.
What is Excel Venture Management's typical check size?: Excel Venture Management typically writes checks of $1M – $5M.
What sectors does Excel Venture Management focus on?: Excel Venture Management focuses on Biotech, Digital Health, Healthtech, Medical Devices.
Where is Excel Venture Management located?: Excel Venture Management is headquartered in Boston, US.
Who does Excel Venture Management co-invest with?: Excel Venture Management most often shares deals with Merck Global Health Innovation Fund, MSD Global Health Innovation Fund, New Enterprise Associates (NEA), among 51 tracked co-investors.

Media · Podcasts & interviews

featuring the team

Juan Enriquez, Managing Director of Excel Venture Management, LLC, advises all #innovators

The INNOVATORS · Juan Enriquez

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