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Rev1, Ohio State, Nationwide Children’s Hospital Launch $30M Fund for Healthcare Innovation

Rev1, Ohio State, Nationwide Children’s Hospital Launch $30M Fund for Healthcare Innovation

Rev1 Ventures, the Columbus-based venture studio that helps entrepreneurs and corporations accelerate innovation, has partnered with Nationwide Children’s Hospital and The Ohio State University to launch a $30 million fund focused on innovation in the healthcare space. 

The Rev1 Catalyst Fund III will deliver capital and strategic services for pre-seed, seed stage, and early-stage healthcare innovators.

As with the $15 million Catalyst Fund II, this latest fund will focus on life sciences spinouts, including gene and cell therapy, neuroscience, biofilms, ocular health, cardiovascular health, and other therapeutics technologies.

"Building on our collective experience, and proven track record supporting life sciences companies, Rev1 Catalyst Fund III represents another unique opportunity to help commercialize breakthrough technologies and transform many critical aspects of health care," said Tom Walker, President and CEO of Rev1 Ventures. "Between Rev1, Ohio State, and Nationwide Children's Hospital, our team has led nearly 100 spinouts from over 20 research institutions and corporations and brings the expertise and financing to help life sciences companies build the right team and infrastructure that allows them to scale and grow."

Catalyst Fund III will be invested across nearly a dozen companies over the next five years. It will also support follow-on funding for successful predecessor fund portfolio company rounds.

"Ohio State values the collaborative approach to accelerate innovation and support life science innovators in our community," said Peter Mohler, Acting President and Executive Vice President for Research, Innovation and Knowledge at Ohio State. "This fund will support groundbreaking advancements and help build successful companies that are working to positively impact people's lives."

Since the predecessor Catalyst Fund II launched in 2019, more than $10 million has been invested across eight companies Separately, the Rev1 Catalyst Fund and Rev1 NCH Fund have generated more than $450 million in exits, including the acquisitions of Celenex, Myonexus, and Deep Lens.

"By bringing together research institutions, investors, and strategic advisors, we're elevating Central Ohio's position in the industry and helping to bring more life-saving solutions to the world,” said Tim Robinson, Chief Executive Officer at Nationwide Children's Hospital. 

Rev1 last year launched two programs to bridge the gap for underserved founders in the Columbus area: The Rev1 Ventures Diversity, Equity & Inclusion Grant Fund and the Grow to Scale Mentor Program.