Madison, WI – September 10th 2025 – 9am CT – Clarevia (also known as “VI”) today announced the successful close of its seventh fund, raising $80 million to drive breakthrough healthcare innovations that aim to fundamentally change the standard of care. Based in the Midwest—home to world-class research universities and a thriving healthcare ecosystem—VI will continue to support early-stage companies that harness cutting-edge discoveries to deliver more precise, personalized care while improving access and reducing costs. VI is one of the Midwest’s longest-tenured healthcare-focused venture capital firms, with a 40-year track record under its belt.
“Our seventh fund reinforces our commitment to backing visionary entrepreneurs whose innovations have the potential to shift paradigms in healthcare,” said Jim Adox, Managing Partner at VI. “By focusing on technology that truly transforms how patients receive care, we aim to accelerate the translation of decades of research into real-world impact for patients and their physicians.”
Transforming the Standard of Care
Unlike broad-based venture capital firms, Clarevia invests exclusively in innovations that have the capacity to redefine—not just refine—care pathways. From EarliTec, which has developed a novel, objective eye-tracking method to diagnose autism faster than the current standard of care, to HistoSonics, which uses sound energy to noninvasively destroy tumors, VI targets companies that are on track to radically alter patient care.
VI also plans to continue nurturing emerging university ecosystem spinouts. The firm has a longstanding record of success in commercializing groundbreaking research, having invested in over 40 university ecosystem spinouts from institutions such as the University of Wisconsin–Madison and the University of Michigan—both of which rank in the top tier of U.S. research universities.
Deep Roots in the Midwest’s Healthcare Ecosystem
While most venture capital activity remains concentrated on the coasts, Clarevia intentionally calls the Midwest home. Local proximity to leading academic centers and major healthcare corporations—such as Epic, GE, and Exact Sciences—provides an ecosystem rich in collaboration potential.
“We’re thrilled to see VI continuing to champion university research that can significantly improve human health,” said Kelly Sexton, Associate Vice President for Research – Innovation Partnerships and Economic Impact at The University of Michigan. “By partnering early on with academic innovators, Jim Adox and VI have consistently helped accelerate lab discoveries into tangible patient outcomes, which in turn strengthens our regional biotech ecosystem.”
With the new fund, VI will deepen its partnerships across core Midwest markets, from Minneapolis to Madison to Milwaukee to Ann Arbor. The firm’s healthcare-only focus leverages decades of specialized experience across medical devices, diagnostics, digital health, and pharma, ensuring each portfolio company benefits from a robust advisory network and the highest level of diligence.
About Clarevia
Founded in the 1980s, Clarevia (VI) has spent decades investing in transformational healthcare startups, fueling the growth of more than 80 companies—11 of which have exited with valuations between $250 million and $2.25 billion. Investments include: ThirdWave Technologies, TomoTherapy, IntraLase, Neurovance, NeuWave Medical, and LenSx Lasers. Leveraging a proven approach to sourcing, shaping, and stewarding new ventures, VI combines deep operational expertise with strong syndicate partnerships to help founders bring groundbreaking technologies to market. For more information, visit www.clarevia.com.
Press Contact:
Kayla Liederbach (TFL Marketing) on behalf of Clarevia
kayla@tfl-marketing.com
