Capital Raised
$111.2M
$111,205,811 closed
Total Units
27,773,395
Fully diluted basis
Investments & Investors
7 share classes
FTS counted as 1 consolidated investment — member breakdown provided as a courtesy
Avg. Investment
$767K
Per investment
New Investments This Month
April 2026 vs. March 2026
investments
new capital
prior month
6-Month Investment Activity
Capital Inflows ($M)
Year-to-Date
2026
investments
capital raised
2025 (thru Apr 9)
investments
capital raised
FHI Equity Conversion
Dec 2023Fountain Health Insurance equity was converted into Series A-1 Preferred units for 31 investors, representing $13,989,321 of the total Series A-1 capital.
Ownership by Class
| Share Class | Holders | Units | Ownership % (fully diluted) | Capital |
|---|---|---|---|---|
Class A | 1 | 3,491,135 | 12.6% | — |
Series A-1 Preferred | 69 | 4,561,120 | 16.4% | $34.9M |
Series A-2 Preferred | 18 | 5,938,920 | 21.4% | $45.4M |
Series B-1 | 27 | 2,621,720 | 9.4% | $28.0M |
Series B-2 | 5 | 1,123,598 | 4.0% | $12.0M |
Class A (Physician Founders) | 5 | 5,000,000 | 18.0% | $935K |
Class A (FTS) | 1 | 5,036,902 | 18.1% | $5.8M |
| Fully Diluted Total | 121 | 27,773,395 | 100.0% | $127.1M |
Note: Total capital includes $15,864,710 in Series B-1 units not yet sold. Closed capital to date: $111,205,811.
Note: Series A-1 includes $13,989,321 from FHI equity conversion (31 investors, Dec 2023). Direct A-1 investment: $20,903,154.
Unit Distribution
Capital Sources Waterfall
$104.5M closed · $120.3M fully subscribedTop Investors
Series B-1 / B-2 Progress
Milestones
Capital Deployment Timeline
Class A (Founders) + Initial Series A
Series A-1 + A-2 Preferred Growth
Series B-1 + B-2 Fundraising
Quick Actions
Common tasks at your fingertips
Missing Agreements
1 investors need documentation
Action Plan
Prioritized items for Jeff Norton / Stradley
Exit Waterfall
$1B scenario modeling & payout analysis
Open Requests
No open requests
