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November 9, 2023

Black Opal Ventures Raises $58M for Health-Tech Fund, Pioneering in Healthcare

Led by Managing Directors Dr. Tara Bishop and venture capitalist Eileen Tanghal, Black Opal has unveiled its maiden health-tech fund

In an exciting leap forward in the world of health technology, Black Opal Ventures (BOV), led by Managing Directors Dr. Tara Bishop and venture capitalist Eileen Tanghal, has made waves by announcing its groundbreaking health-tech fund, which has already raised $58 million. Since its initial closing in February 2022, BOV has continued to attract investments from a range of prestigious institutions, including Eli Lilly and Company, Bank of America, Atlantic Health System Venture Studio, J.P. Morgan Asset Management’s Project Spark, New Summit Investments, Illumen Capital, Henry Ford Health, Women of the World Endowment, and Global Corporate Venturing. This substantial capital injection aims to bolster innovative early-stage companies at the crossroads of healthcare and technology, ushering in a new era of transformation in the healthcare industry.

Brad Robling, VP Global Head of Lilly Ventures – Investing, noted, “As investors, we see Black Opal Ventures as a trailblazing force in the health-tech sector. As a female-led venture capital firm, Black Opal Ventures not only adds diversity and inclusivity to the industry but also brings a fresh perspective and an innovative approach to healthcare technology.”

In a world where global healthcare spending nears $9 trillion annually, Black Opal Ventures is dedicated to addressing challenges such as uncured diseases, medical errors, limited access to care, health disparities, and soaring costs. Eileen Tanghal emphasizes the need to enhance healthcare accessibility and affordability, leveraging her two decades of experience in startups and cutting-edge technologies.

Tanghal and Bishop see data and artificial intelligence as pivotal components of the future of healthcare. Thus, BOV invests in companies that will establish the essential infrastructure to unlock the full potential of these transformative technologies.

BOV has already made strategic investments in nine companies pioneering innovations in fields such as oncology, neurology, obesity, and infertility. These investments include Intellihealth, Conceivable Life Sciences, Optellum, Hyro, Empatica, TigerGraph, and Alongside providing capital, Black Opal Ventures offers a network of industry experts, strategic partners, and resources to support these startups. The ultimate goal is to revolutionize the healthcare industry, improving access, quality, and cost-effectiveness through cutting-edge technology.

Black Opal Ventures, led by MIT alumnae Dr. Tara Bishop and Eileen Tanghal, brings a wealth of experience to the table. Dr. Bishop, with two decades in the healthcare industry, combines medical expertise with leadership roles in digital health, clinical practice, and startups. Tanghal, with 20 years of venture capital experience, has invested in over forty early-to-late-stage companies globally.

By combining their unique expertise, BOV is set to make a profound impact on healthcare technology entrepreneurs and the startup community, redefining the landscape of healthcare innovation.

Executive Advisor Simon Segars, former Arm CEO, further enriches the team by underscoring the role of innovative technology in shaping the future of healthcare. Black Opal Ventures embodies the spirit of innovation and inclusivity, leading the way toward a healthier, technologically advanced world.

Josefina Dipaolo
Josefina Dipaolo
Content writer at TechNews180
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