Diōko Ventures Closes with $17M in Initial Fund

Winston-Salem, North Carolina. (May 15, 2018) – Diōko Ventures (“Diōko”) announced the completion of fundraising for its first fund, Diōko Health Ventures I, L.P. (“the “Fund”), on April 27, 2018. The Fund closed with $17M of committed capital and has already made investments in six portfolio companies.

The fund is led by partners Matthew King, Todd Johnson and Tom Hearn. Diōko Ventures is co-managed by Nashville, TN-based FCA Venture Partners. King, along with FCA partners John Burch, Nancy Allen, and Principal Andrew Bouldin, provide management and administrative services to Diōko. The combined leadership group has more than 100 years of early stage healthcare IT and services investment and operational leadership experience.

Diōko’s investing focus is in the healthcare services and healthcare IT space. The Fund anticipates making 10-14 investments ranging from $500K to $1.5 million in early stage healthcare companies. "The healthcare IT sector continues to grow at three times the rate of the overall economy. When combined with the fund’s investment thesis, this provides the opportunity for above market returns with an acceptable risk profile," said Matthew King.

Diōko Ventures has a focus on investing in companies that are headquartered in, or can influence healthcare in, Western North Carolina. “We believe Dioko is well positioned to fund companies emerging from the infrastructure investment that has been made in the Wake Forest Innovation Quarter, the Triad and other parts of Western North Carolina," said Tom Hearn.

The fund’s investor base includes two major medical systems along with family offices and high net worth individuals. From that investor base, Diōko has recruited a strong advisory board to provide guidance to the fund including:

  • Jennifer Byrne - Former CEO of PMG Research Don Flow - CEO of Flow Automotive
  • Dr. John McConnell - Former CEO of Wake Forest Baptist Medical Center
  • Anne McGeorge - Former National Healthcare Practice Leader of Grant Thornton LLP
  • Kim Westmoreland - CEO of KeraNetics, LLC
  • Matt Lindberg - Managing Partner, Plumb Line Capital

About Diōko Ventures

Dioko Ventures is an investment fund located in North Carolina. The fund invests in early stage healthcare services and IT companies. While Dioko has a bias towards Western North Carolina companies, the fund can invest anywhere. Diōko is co-managed by FCA Venture Partners.

About FCA Venture Partners

Founded in 1996, FCA Venture Partners has a long history of investing in successful healthcare entrepreneurs. The firm is passionate about building sustainable businesses and providing strategic value to their portfolio companies. FCA invests $3-6M in fast growing healthcare companies making processes in the industry faster, better, and cheaper while improving the quality of care and the patient experience. With its location in Nashville, roots with Clayton Associates and the McWhorter Family, and deep involvement in the growth of the U.S. healthcare community, FCA Venture Partners is poised to take advantage of disruptive opportunities that help move healthcare forward.