Welsh, Carson, Anderson & Stowe
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Team · 3 people
from curated & public directoriesWhat they invest in
from 14 of 15 portfolio companiesHealthtech ×10Digital Health ×5Enterprise Software ×4AI & Machine Learning ×3Medical Devices ×3SaaS ×3Biotech ×2Longevity ×2
HQs:United States×10Canada×1United Kingdom×1
Investments · 15 tracked
founders shown can be your intro pathBy year:2026 · 12023 · 12021 · 22018 · 32014 · 18 dated
Sonendo is a medical technology company that develops and manufactures the GentleWave System, a technology platform for treating tooth decay by cleaning and disinfecting the interior spaces of teeth without removing tooth structure.
HardwareHealthtechMedical DevicesLaguna Hills, US
Bjarne Bergheim(Executive Officer, Director)inJohn McGaugh(Executive Officer)inJohn Bostjancic(Executive Officer)Hugh Neuharth(Executive Officer)Roy T. Chen(Chief Talent Officer)Chris Guo(Interim Chief Financial Officer)in
Board seatDavid Caluori· per SEC Form D · $25M raise · filed Nov 2018
Co-investorsEssex Woodlands Healthcare PartnersFjord VenturesGeneral AtlanticMeritech Capital PartnersNeomed ManagementOrbiMed+1 more
InnovAge operates a Program of All-Inclusive Care for the Elderly (PACE), providing integrated healthcare and social services to seniors.
Digital HealthHealthtechLongevity
Patrick Blair(Chief Executive Officer)inBenjamin C. Adams(Chief Financial Officer)Nicole D'Amato(Chief Legal Officer and Corporate Secretary)inMeredith Delk(Chief Administrative Officer)in
Co-investorsClaritas CapitalWCAS
Paymentus provides a billing and payment solution platform for digital payments, supporting customers in adopting cost-efficient payment methods and channels through the company's Client Adoption Success Team (CAST).
Enterprise SoftwareFintechSaaS
Dushyant Sharma(Founder and CEO)in
Co-investorsAccel-KKR
Kiniciti is a platform company that operates cell and gene therapy-focused life science businesses, including Cellistic for iPSC-based manufacturing technologies and Ncardia for human iPSC products and drug discovery services.
BiotechDeep TechHealthtechMedical Devices
Geoffrey Glass(Founding CEO)in
Co-investorsBIOSPRING PARTNERSWCAS
Oak Street Health operates a network of primary care centers focused on preventive and comprehensive care for older adults, offering personalized wellness plans, integrated health services, and care coordination with specialists.
Digital HealthHealthtechLongevityChicago, US
Griffin Myers(Director)inMichael Pykosz(Executive Officer, Director)Geoffrey Price(Director)
BoardKevin Roche(Director)Edward Bergmark(Director)
Board seatDavid Caluori· per SEC Form D · $43.9M raise · filed Oct 2018
Co-investorsTau VenturesGeneral Atlantic
Absorb Software provides a learning management system platform for organizations to manage training and education programs.
AI & Machine LearningEdTechEnterprise SoftwareSaaS
Co-investorsSilversmith Capital PartnersWCAS
Abzena is an integrated CDMO and CRO providing end-to-end development and cGMP manufacturing services for complex biologics and bioconjugates, including ADCs, AOCs, bispecifics, and HPAPIs.
Advanced ManufacturingBiotechHealthtechMedical DevicesCambridge, US
William John Edward Burt(Executive Officer, Director)Nigel Pitchford(Director)Leigh Pierce(Executive Officer)Kenneth Cunningham(Director)Julian Smith(Executive Officer, Director)Anthony Brampton(Director)
Co-investorsBeringeaBIOSPRING PARTNERSWCAS
EnableComp provides revenue cycle management solutions to hospitals, using adaptive intelligence to accelerate claims recovery and improve financial performance.
AI & Machine LearningEnterprise SoftwareHealthtechInsurTechSaaS
Co-investorsNaviMed CapitalWCASPrimus Capital
Hims offers personalised healthcare through online consultations with licensed medical providers, creating individual treatment plans and delivering prescription and generic treatments direct to customers.
Digital HealthDirect to ConsumerHealthtech
Co-investorsFounders FactoryFounders Factory NYDurable Capital PartnersK2 HealthVenturesOak HC/FT
ImageTrend Elite provides fire investigation software for fire departments and marshals to document post-incident investigations, manage evidence and witness statements, and generate NFPA 921-compliant reports.
AI & Machine LearningEnterprise SoftwareGovTech
Co-investorsGolub GrowthWCAS
An Italian-language affiliate guide that reviews and ranks non-AAMS online casinos (foreign-licensed gambling sites) accessible to Italian players, comparing bonuses, game catalogs, payment methods, and licensing.
ConsumerGamingMedia & EntertainmentBridgewater, US
William Duke(Executive Officer)inKristine Peterson(Executive Officer, Director)
BoardDaniel Pelak(Director)Sean Traynor(Director)Ittai Harel(Director)inPaul Queally(Director)
Co-investorsAgate Medical Investments LPHLM Investment PartnersKaiser Permanente VenturesAbingworthMPM BioImpactPitango
Wellvana is a value-based care enablement company that operates ACOs across MSSP tracks and Medicare Advantage contracts and provides onboarding, clinical support, and the Clarity analytics platform to turn clinical, financial, and social data into care insights.
Data & InfrastructureDigital HealthHealthtechNashville, US
SCOTT LENZ(Executive Officer)IAN KYLE WAILES(Executive Officer, Director)Adam Holland(Executive Officer)in
BoardCharlie Martin(Director)Devin Carty(Director)KAREY WITTY(Director)
Co-investorsCorewell Health VenturesFirst Trust Capital PartnersHeritage GroupMartin VenturesOptum VenturesWhistler Capital Partners
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
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 · 3
3 IPOsFund performance · per public LP disclosures · 16
as of Dec 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Welsh, Carson, Anderson & Stowe XIVLPs: Minnesota State Board of Investment, New York City Employees' Retirement System, New York City Police Pension Fund +1 more | 2022 | — | 4.2% | 1.07x | 0.04x |
| Welsh, Carson, Anderson & Stowe XIV N Co-InvestLPs: New York City Employees' Retirement System, New York City Police Pension Fund | 2022 | — | — | 1.47x | 1.47x |
| Welsh, Carson, Anderson & Stowe XIV, L.P. Side CarLPs: New York City Fire Department Pension Fund, New York City Employees' Retirement System | 2022 | — | — | 1.14x | — |
| Welsh, Carson, Anderson & Stowe XIV, L.P. Side Car N/ALPs: New York City Fire Department Pension Fund | 2022 | — | — | 1.18x | 1.18x |
| Welsh, Carson, Anderson & Stowe XIIILPs: Minnesota State Board of Investment, New York City Employees' Retirement System, New York City Fire Department Pension Fund | 2019 | — | 17.8% | 1.64x | 0.63x |
| Welsh, Carson, Anderson & Stowe XIILPs: California Public Employees' Retirement System, California State Teachers' Retirement System, Minnesota State Board of Investment +6 more | 2015 | — | 23.9% | 2.47x | 1.99x |
| Welsh, Carson, Anderson & Stowe XILPs: California State Teachers' Retirement System, California Public Employees' Retirement System, Connecticut Retirement Plans and Trust Funds +6 more | 2009 | — | 11.5% | 1.66x | 1.66x |
| Welsh, Carson, Anderson & Stowe X, L.P.LPs: California Public Employees' Retirement System, Connecticut Retirement Plans and Trust Funds, Hawaii Employees' Retirement System +1 more | 2005 | — | 8.3% | 1.70x | 1.70x |
| Welsh, Carson, Anderson & Stowe IXLPs: Washington State Investment Board, Hawaii Employees' Retirement System, Los Angeles City Employees' Retirement System | 2000 | — | 11.2% | 1.70x | 1.66x |
| Welsh, Carson, Anderson & Stowe VIIILPs: Washington State Investment Board, Los Angeles City Employees' Retirement System, Hawaii Employees' Retirement System | 1998 | — | 3.1% | 1.30x | 1.29x |
| Welsh, Carson, Anderson & Stowe IIILPs: The Regents of the University of California | 1997 | — | 13.0% | 1.72x | 1.72x |
| Welsh, Carson, Anderson & Stowe VII, LPLPs: The Regents of the University of California, Washington State Investment Board, Los Angeles City Employees' Retirement System | 1995 | — | 17.7% | 2.20x | 2.18x |
| Welsh, Carson, Anderson & Stowe VILPs: The Regents of the University of California | 1993 | — | 13.9% | 2.07x | 2.07x |
| Welsh, Carson, Anderson & Stowe IILPs: The Regents of the University of California | 1990 | — | 11.9% | 2.26x | 2.26x |
| Welsh, Carson, Anderson & Stowe VLPs: The Regents of the University of California | 1989 | — | 33.1% | 3.51x | 3.51x |
| Welsh, Carson, Anderson & StoweLPs: The Regents of the University of California | 1987 | — | 18.2% | 2.62x | 2.62x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has Welsh, Carson, Anderson & Stowe made?
- Welsh, Carson, Anderson & Stowe has 15 tracked investments, 3 of which have exited, including 1 dated in the last 24 months.
Co-investors · 2
OrbiMed is a healthcare-focused investment firm providing tailored financing solutions and global resources to build world-class healthcare companies across biopharmaceuticals, medical devices, digital health, diagnostics, and healthcare services.
Firms observed investing alongside Welsh, Carson, Anderson & Stowe, from public investor directories. Shared companies are the overlap with Welsh, Carson, Anderson & Stowe's recorded portfolio.










































