Define Ventures, the largest firm focused on early-stage digital health companies, today announced veteran healthcare leader Frank Williams has joined its team as venture partner. Williams, who is the co-founder of Evolent Health and served as the company’s CEO and chairman, will play a pivotal role in partnering with category-defining digital health companies and their exceptional entrepreneurs to grow and scale their businesses. This announcement follows the firm raising $460 million in 2023 across two new funds.
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Williams is a highly-seasoned entrepreneur and executive. During his tenure at Evolent, the company completed an IPO, grew to more than $1 billion in annualized revenue, and served over 15 million patients. Prior to Evolent, Frank served as Chairman and CEO at The Advisory Board Company, during which the company completed an IPO, grew to more than $450 million in annual revenue and $2 billion in market capitalization. Frank currently serves on the boards of Helix, Nayya, Foodsmart, Trusted Health, and Wellth. He also serves on the Executive Committee of UCSF and is a senior advisor to ICER, Blackbird Health, and the President’s Advisory Council for the School of Public Health at Brown University.
“I’m looking forward to spending my time with extremely bright, values-driven executives that are focused on making a positive impact in healthcare,” said Williams. “I’ve been really impressed with the Define team and who they’ve chosen to partner with. These companies have strong founders with compelling visions, along with tremendous potential to drive innovation in healthcare. There are so many things you need to get right when building a company and Define Ventures is uniquely positioned to help founders build extraordinary businesses.
“Frank has an unmatched track record in this industry, both as an incredible leader and extraordinary operator,” said Lynne Chou O’Keefe, founder and managing partner at Define Ventures. “Just as importantly, Frank shares the same mindset in our commitment to be more than investors. He has coached, mentored, and advised so many entrepreneurs throughout his career and knows they deserve true partnership. Frank has been a trusted partner to Define and the Define community and we’re thrilled to officially welcome to the team”
Define Ventures has $800 million assets under management and partners with companies at the incubation, seed, series A and series B stages The firm attracts leading digital health entrepreneurs with its high conviction, hands on approach. Whether it’s shaping commercial strategies and securing their first customers or building high-performing teams with key leadership hires, the Define Ventures team pulls the full weight of their network and expertise to drive tangible value for its partner companies. The firm has partnered with over 20 companies building at the intersection of tech, consumer, and enterprise including Hims & Hers and Unite Us.
Williams is joining a team with deep operational and investment experience across the healthcare industry and Silicon Valley, including successfully scaling and partnering with digital health companies at the intersection of tech, consumer, and enterprise. Define Ventures also has a deep bench of strategic advisors across healthcare, consumer, and tech to provide guidance in creating and scaling industry-leading companies.
About Define Ventures
Define Ventures is the largest firm focused on early-stage digital health companies. We bring a high-conviction, hands-on approach to building category-defining companies, thanks to our Silicon Valley roots, relentless drive, and deep healthcare operating experience. We’ve incubated or partnered with many of the leading digital-health companies, including Hims & Hers, Unite Us, and Cohere Health. Define Ventures invests in digital-health startups at the incubation, seed, series A, and series B stages. For more information, visit www.definevc.com.
