DFX Intelligence
Venture Capital Intelligence
Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.
Firms / Excelerate Health Ventures LLC
Excelerate Health Ventures LLC
A seed and early-stage venture firm partnering with entrepreneurs on B2B healthcare software and tech-enabled services.
venture manager, reported GAV $58M across 3 vehicles
Importance
20
moderate
Active deployment
29
moderate
Emerging
0
low
Completeness
81
high
Freshness
100
high
Research priority
9
low
Identity and regulatory footprint
- Headquarters
- Durham, NCadviserinfo.sec.gov
- Office address
- 600 PARK OFFICES DRIVE SUITE 300-326, Durham, NC, 27713-2890adviserinfo.sec.gov
- Business phone
- 919-960-1540adviserinfo.sec.gov
- SEC adviser type
- exempt reporting adviseradviserinfo.sec.gov
- SEC exemption claimed
- venture capital fund adviseradviserinfo.sec.govItem 2.B(1): advises solely venture capital funds
- Latest Form ADV
- Mar 5, 2026
- Private funds reported
- 2 (2 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $66.1Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- business email
- info@exceleratehealth.comexceleratehealth.compublished by the subject
- business phone
- 919-960-1540adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
1 observed deals
Stated (the firm’s website)
- Sectors
- ai, enterprise software, healthcare, b2b
- Stages
- seed, series a
- Geography
- not stated
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- venture capital
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors
Other 100%
lead rate n/afollow-on rate n/anew logos, 12 months 1
Funds and vehicles
3 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Excelerate Health Ventures III LP | Fund | 2026 form d first sale | Fundraising | unknown | unknown | $21.9M | Apr 14, 2026 |
| Excelerate Health Ventures II LP | Fund | 2021 form d first sale | Mature | $39.6M Mar 1, 2024 | 94 | $35.0M | Jan 5, 2023 |
| Physician Fund LP | Fund | 2013 form d first sale | Harvest | $18.3M Mar 1, 2024 | 78 | $11.2M of $11.2M | Jul 14, 2016 |
GAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.
Investment team
20 current, 0 departed
Fred Goldwater
AssociateSerial Entrepreneur & Public Health Executive, Investor
Seth Glickman
AssociatePayer & Operational Executive, Investor
John Potthoff
Board or advisoryAdvisor to VC Funds
Andrew Jay Schwab
Managing partnerManaging Partner · since Jan 1, 2020
B. Bobby Bahram
Managing partnerManaging Partner
Babak Bobby Bahram
Managing partnerManaging Partner · since Jan 1, 2013
Maulik Mehta
Managing partnerManaging Partner
Adrienne Kirby
OtherHealth System Executive & Healthcare Investment Banking
Dhiren Patel
OtherClinical Trials Executive
Don Holzworth
OtherHealth System Executive
Jai Parekh
OtherHealth System Executive
Mark Friedman
OtherPayer & Physician Executive, Executive Coach
Martin Gouldstone
OtherGenerative AI & Digital Innovation Strategist
Shwen Gwee
OtherPharma Services & Clinical Research Innovator
Sue Schade
PartnerHealthcare CIO
Andrew Bier
PrincipalFormer Merck Oncology President & Biopharma Board Director
Andrew Schwab
Venture partnerVenture Partner
Gary Abrahams
Venture partnerVenture Partner
Laura Hilty
Venture partnerVenture Partner
Phillip Johnston
Venture partnerVenture Partner
Investments on record
1 edges, 1 companies, 1 partner-attributed
| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| S2N Health Inc. | board seat | unknown · board | Andrew Schwab (strongly supported) | unknown | unknown | Jun 2, 2026 | Inference SEC EDGAR Form D data sets (quarterly) |
“This investor” is the amount disclosed for this investor alone; it is unknown unless a source said it. The round size is the whole round.
Co-investors
1 relationships from shared deals, counted for the whole firm
Limited partners
0 disclosed
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Timeline
3 dated events
- Feb 22, 2021Excelerate Health Ventures LLC first filed Form ADV (ERA, venture capital fund adviser exemption)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Feb 22, 2021Physician Fund LP first reported on Form ADV by Excelerate Health Ventures LLC (Venture Capital Fund), GAV $16,231,382Fund first reported on Form ADVFundsFactPhysician Fund LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Feb 22, 2021Excelerate Health Ventures II LP first reported on Form ADV by Excelerate Health Ventures LLC (Venture Capital Fund), GAV $23,250,000Fund first reported on Form ADVFundsFactExcelerate Health Ventures II LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $58M across 3 vehicles
Evidence
45 observations from 3 sources