BOSTON, Nov. 15, 2023 (GLOBE NEWSWIRE) -- .406 Ventures, the 18 year-old Boston-based, early-stage venture capital firm focused on healthcare and enterprise technology, added Trip Hofer to its team as a Venture Partner in October. Hofer, who concurrently took on the role of CEO of Redox, a .406 portfolio company, will work closely with .406’s healthcare investment team to advise portfolio companies and identify/evaluate new investment opportunities.
Hofer brings unparalleled healthcare industry experience to .406. Prior to joining the firm, Hofer served as CEO of Optum Behavioral Health Solutions, a division of Optum and the largest provider of mental health services in the United States. He joined Optum after leading the successful sale of mental health pioneer AbleTo (a .406 portfolio company) to Optum in 2020. Before AbleTo, Hofer held leadership roles at CVS Health, UnitedHealth Group, and Health Dialog (also a .406 portfolio company).
.406 has been investing in disruptive healthcare companies for nearly two decades, backing category-defining companies in primary care, behavioral health, eldercare, and AI-driven healthcare data management. Some notable .406 healthcare investment successes include Iora Health (acquired by One Medical/Amazon), AbleTo (acquired by Optum), Bend Financial (acquired by Webster Bank), and Health Dialog (acquired by BUPA). .406 is also a lead investor in high-performing private healthcare companies such as Abacus Insights, Cortica, Equip, InStride, Redox, Wayspring, and WelbeHealth.
“Working with Trip as an executive leader in our portfolio over the past 20 years has been both fun and successful” said Liam Donohue, Co-founder and Managing Partner of .406 Ventures. “He is one of the most admired executives in US healthcare and will add enormous domain and operating expertise to our investment work. We are beyond excited to have him on our team.”
“I first met Liam when he invested in Health Dialog over 20 years ago. We immediately formed a connection and a fluency of communication that has led to many successes,” said Hofer. “We share a common vision and urgency for improving US healthcare. I look forward to working closely with .406 directly and through my new role as CEO of Redox.”
About .406 Ventures
.406 Ventures is a Boston-based venture capital firm with over $1.4B under management and nearly two decades of experience leading or co-leading early-stage investments in pioneering healthcare, data + AI, and cybersecurity companies founded by visionary entrepreneurs. Notable lead investments include AbleTo (acquired by Optum), Carbon Black (acquired by VMWare), Cloud Health (acquired by VMware), Health Dialog (acquired by BUPA), Iora Health (acquired by One Medical/Amazon), Mineral Tree (acquired by Global Payments), and Veracode (acquired by CA Technologies). Learn more at 406ventures.com and follow us on LinkedIn and X.