Venture investing firm Health Velocity Capital has added a former DaVita and Castlight Health executive to its team as a partner.
Kristin Torres Mowat comes to Health Velocity, which is based in Maryland Farms and San Francisco, about a year and a half after leaving health care navigation venture Castlight, where she had been senior vice president of corporate development. She spent more than six years at the company and before that worked at DaVita, where she rose to VP of corporate strategy and also oversaw the launch of an electronic health record, among other things.
At Health Velocity, Torres Mowat will focus her work on creating connections between the firm’s limited partners, who comprise traditional institutional investors as well as health plans covering more than 150 million people, health systems that run 600-plus hospitals and a range of health IT companies. Combined, those investors generate nearly $2 trillion in annual revenues.
“Health care represents the largest sector of the U.S. economy with per capita costs continually outpacing those of other industrialized nations and clinical outcomes that do not reflect this incremental spending,” Bruce Crosby, another Health Velocity partner, said in a statement. “We are committed to helping our strategic limited partners identify the right innovative themes and companies at the right time as they address a national imperative and further believe Kristin brings an extraordinary background and set of experiences to help us in this pursuit.”
Health Velocity is investing from a $185 million fund that closed in late 2018. Among the companies its partners have invested in over their careers are Change Healthcare, Aspire Health, Compassus, Spero Health and Contessa Health, which recently agreed to sell to Amedisys.
“There has never been a better time to build more successful health care innovators and to build them bigger and faster,” Torres Mowat said. “This is of critical importance to our country as we push toward a high-quality, lower-cost, and consumer-friendly health care system. I am excited to continue to support entrepreneurs in their efforts to scale impactful innovation as quickly as possible.”