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Town Hall Ventures' Slavitt tackles health equity problem by spreading innovation – Axios

When Andy Slavitt launched Town Hall Ventures four years ago to transform care delivery in underserved communities, he didn't know if such companies were out there — or if the capital would follow. Now he does.
Why it matters: Town Hall Ventures just raked in $350 million for its third vehicle, validating what Slavitt believes is growing investor recognition of the needs of marginalized populations — whether that's maternal health in the Medicaid community or "deaths of despair" from the lack of mental health access.
What he's saying: "People no longer think we are nuts," after seeing the successes of locally driven Town Hall portfolio companies that have scaled, like Cityblock Health, Equality Health and Landmark Health, Slavitt tells Axios.
Between the lines: "Our goal isn’t just to put our 350 million dollars [to work]," Slavitt says. "Our goal is to attract billions and billions of dollars by nature of these companies."
Zoom in: Slavitt, who was the acting administrator of CMS under President Obama and spent a decade at Optum, says health care incumbents "like to create new creative competitive things and then the innovation doesn't travel well."
Context: With a fresh pool of funds available for investment, Town Hall Ventures is focused on issues in need of major progress, like…
Slavitt's big picture: "The closer you get to these communities, the more you see the desperate need for problems to be solved."
Details: Town Hall Ventures' new $350 million fund is its largest to date, with Fund I and Fund II collecting $115 million and $270 million, respectively.

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