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Evidenced Closes $24 Million Health-Tech Fund Focused on Policy-Driven Opportunities
On July 14, 2026, venture firm Evidenced announced the closing of its inaugural fund at $24 million, a modest sum that belies a distinctive strategy: treating regulation as a source of market creation rather than risk.
Evidenced’s limited partners include the Rockefeller Foundation, RockCreek Group, Colibri Equity Ventures, and a coalition of professionals from government, healthcare delivery, technology and payer sectors. The firm was co‑founded in 2022 by Sean Glass and Bryan Sivak. Glass, who founded Higher One—publicly listed in 2010—and later co‑founded women’s‑health company Advantia Health, which reached roughly $100 million in revenue, brings deep experience in scaling health‑tech. Sivak, a former chief technology officer for the U.S. Department of Health and Human Services and a senior executive at Kaiser Permanente Ventures and Centene, supplies a government‑policy perspective.
Evidenced’s thesis is that many investors view regulation as a hedging risk, but policy decisions can accelerate growth or spawn new markets. The firm cites the Centers for Medicare & Medicaid Services’ ACCESS model and the Rural Health Transformation Fund as recent policy openings that could drive revenue for startups aligned with these initiatives.
The fund’s portfolio reflects this focus. It includes companies that serve community health infrastructure, behavioral health, aging‑in‑place, advance care planning, and neurodiverse therapeutics. Current investments are:
- Ilant Health – a value‑based obesity‑care platform that raised a $15 million Series A in the same funding cycle. - Parento – a paid parental‑leave insurance provider that offers leave management and parent coaching for employers. - Accompany Health, Fabric Health, Floreo, Here Now Health, IMPaCT Care, Journey Clinical, Jukebox Health, Koda Health, Photon Health, and Truentity.
These firms operate across a spectrum of delivery models—from digital therapeutics and care coordination to workforce solutions. Evidenced seeks startups that can capitalize on emerging policy frameworks, such as CMS initiatives incentivizing value‑based care or rural health funding that expands service capacity.
The partnership structure underscores the firm’s differentiating edge. Glass’s track record in scaling a public‑listed health‑tech company and his focus on women’s health give Evidenced insight into market dynamics often overlooked by traditional venture capital. Sivak’s government experience and tenure at large health‑tech firms provide a practical understanding of how policy shapes industry trajectories.
Although $24 million places Evidenced among the smaller early‑stage health‑tech funds, its policy‑centric strategy sets it apart. By aligning capital with regulatory developments, the firm aims to support companies that can benefit from new reimbursement models, quality‑based payment reforms, and expanded access to care.
The Rockefeller Foundation’s participation signals a broader interest from philanthropic entities in health‑tech ventures that address systemic gaps. RockCreek Group’s involvement reflects its focus on sustainable investment, while Colibri Equity Ventures adds expertise in early‑stage technology funding.
Evidenced has not yet disclosed a detailed investment plan or a target number of companies for the fund. However, the current portfolio demonstrates a breadth of health‑care areas that align with its thesis. The firm’s strategy is to identify startups that can thrive under policy changes, thereby reducing risk and accelerating growth.
In the coming months, Evidenced is expected to continue adding companies that fit its policy‑driven framework. The firm’s focus on CMS initiatives and rural health funding suggests that future investments may target digital health platforms, care‑coordination services and workforce‑support solutions that can leverage new reimbursement streams.
The fund’s closing and its stated investment philosophy highlight a growing trend among venture capitalists to view regulation as an opportunity rather than a barrier. As health‑care policy evolves, investors that can align capital with these changes may be better positioned to support companies delivering innovative solutions to patients and providers.
At present, Evidenced’s Fund I remains closed at $24 million, with a portfolio of 12 companies across various health‑care sectors. The founders and limited partners continue to focus on identifying and supporting startups that can benefit from policy‑driven market openings. No additional funding rounds or regulatory actions have been announced at this time.
Evidenced’s limited partners include the Rockefeller Foundation, RockCreek Group, Colibri Equity Ventures, and a coalition of professionals from government, healthcare delivery, technology and payer sectors. The firm was co‑founded in 2022 by Sean Glass and Bryan Sivak. Glass, who founded Higher One—publicly listed in 2010—and later co‑founded women’s‑health company Advantia Health, which reached roughly $100 million in revenue, brings deep experience in scaling health‑tech. Sivak, a former chief technology officer for the U.S. Department of Health and Human Services and a senior executive at Kaiser Permanente Ventures and Centene, supplies a government‑policy perspective.
Evidenced’s thesis is that many investors view regulation as a hedging risk, but policy decisions can accelerate growth or spawn new markets. The firm cites the Centers for Medicare & Medicaid Services’ ACCESS model and the Rural Health Transformation Fund as recent policy openings that could drive revenue for startups aligned with these initiatives.
The fund’s portfolio reflects this focus. It includes companies that serve community health infrastructure, behavioral health, aging‑in‑place, advance care planning, and neurodiverse therapeutics. Current investments are:
- Ilant Health – a value‑based obesity‑care platform that raised a $15 million Series A in the same funding cycle. - Parento – a paid parental‑leave insurance provider that offers leave management and parent coaching for employers. - Accompany Health, Fabric Health, Floreo, Here Now Health, IMPaCT Care, Journey Clinical, Jukebox Health, Koda Health, Photon Health, and Truentity.
These firms operate across a spectrum of delivery models—from digital therapeutics and care coordination to workforce solutions. Evidenced seeks startups that can capitalize on emerging policy frameworks, such as CMS initiatives incentivizing value‑based care or rural health funding that expands service capacity.
The partnership structure underscores the firm’s differentiating edge. Glass’s track record in scaling a public‑listed health‑tech company and his focus on women’s health give Evidenced insight into market dynamics often overlooked by traditional venture capital. Sivak’s government experience and tenure at large health‑tech firms provide a practical understanding of how policy shapes industry trajectories.
Although $24 million places Evidenced among the smaller early‑stage health‑tech funds, its policy‑centric strategy sets it apart. By aligning capital with regulatory developments, the firm aims to support companies that can benefit from new reimbursement models, quality‑based payment reforms, and expanded access to care.
The Rockefeller Foundation’s participation signals a broader interest from philanthropic entities in health‑tech ventures that address systemic gaps. RockCreek Group’s involvement reflects its focus on sustainable investment, while Colibri Equity Ventures adds expertise in early‑stage technology funding.
Evidenced has not yet disclosed a detailed investment plan or a target number of companies for the fund. However, the current portfolio demonstrates a breadth of health‑care areas that align with its thesis. The firm’s strategy is to identify startups that can thrive under policy changes, thereby reducing risk and accelerating growth.
In the coming months, Evidenced is expected to continue adding companies that fit its policy‑driven framework. The firm’s focus on CMS initiatives and rural health funding suggests that future investments may target digital health platforms, care‑coordination services and workforce‑support solutions that can leverage new reimbursement streams.
The fund’s closing and its stated investment philosophy highlight a growing trend among venture capitalists to view regulation as an opportunity rather than a barrier. As health‑care policy evolves, investors that can align capital with these changes may be better positioned to support companies delivering innovative solutions to patients and providers.
At present, Evidenced’s Fund I remains closed at $24 million, with a portfolio of 12 companies across various health‑care sectors. The founders and limited partners continue to focus on identifying and supporting startups that can benefit from policy‑driven market openings. No additional funding rounds or regulatory actions have been announced at this time.
