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Missouri-based Ascension closes on $285M venture capital fund

Strategic healthcare venture Ascension Ventures fund announced the closing of a $285 million strategic venture capital fund, raising its total assets under management to over $1 billion. This is the fifth fund managed by Ascension Ventures.

Ascension Ventures, a Clayton-based venture capital firm that’s part of the Ascension hospital system, said Friday that it has raised $285 million for a new fund.

The fund is the fifth managed by Ascension Ventures, which began in 2001 as a way for the nation’s largest Catholic hospital chain to get an early look at innovative health care technologies. The firm said it now manages more than $1 billion in assets.

Twelve other health care institutions, including Florida-based AdventHealth and Children’s Medical Center of Dallas, are limited partners in the new fund.