Revere Partners Launches First Independent Venture Fund Focused on Oral Health
Revere Partners today announced the launch of the first and only independent venture capital fund focused exclusively on oral health, identifying opportunities for investors and providing capital for cutting-edge innovations in the oral and systemic health sectors. The fund has been operational for over two years and works with oral tech companies, startups, investors, and DSOs, fostering strategic partnerships that improve care delivery and patient and provider experiences, driving maximum returns for investors.
With annual spending on dental care in the U.S. projected to surpass $230 billion by 2023, the dental industry - specifically early-stage dental technology startups - is positioned to experience strong growth in coming years. As an AngelList RollingFund, Revere Partners offers a unique, flexible structure with continuously open fundraising, operating as a quarterly subscription service and providing adaptable payment terms to accommodate all accredited investors. Revere Partners brings best-in-class oral health deal sourcing, diligence, and post-investment support to the oral and systemic health industry.
"The ecosystem that Revere Partners is creating for investors in oral-health, as well as dental-technology innovators requiring capital, is creating massive growth opportunities for the industry," said Dai Feng, Partner at CareCapital. "Revere Partners' leadership team also has unmatched global dental credibility, which instills trust and confidence in top-tier investors as well as entrepreneurs looking to succeed."
In launching Revere Partners, co-founders Dr. Jeremy Krell and David Arena - a leadership duo with more than three decades of combined investor, entrepreneur, and dental industry experience, identified an untapped industry positioned for investment and improved care delivery. Krell's background includes multiple startup exits followed by dental professional development at quip, the subscription eletronic toothbrush company, and also strategic provider innovation and development at Oscar Health, which underwent an IPO in March 2021. Arena's burgeoning career as an investor, technologist and financial professional includes nearly a decade of advising institutional clients on investment strategy and developing systematic trading strategies at Bridgewater Associates, while also spending nearly ten years as a Chief Financial Officer across startups.
Today, Revere Partners offers investors a unique platform to diversify investments into startups and provide capital to an innovative, recession resistant, patient and practice-centered industry. Revere Partners already has significant Assets Under Management (AUM), grown its portfolio to 24 high-performing investments, has had one successful exit, and is continuing to raise funds targeting $200 million AUM. Since its inception in 2021, Revere Partners has achieved a gross IRR of 31.7%*. Comparing that to all Series A companies in the first half of 2022, the fund outperformed the market by +52.01%.
"The oral health and dental tech industry remains ripe for disruption - though up to this point, has not seen the influx of investment capital that many other industries have experienced," said Revere Partners' Managing Partner, Dr. Jeremy Krell. "We're on a mission to change the landscape of dental and systemic health ventures - bringing market awareness, business acumen and the top minds in this field together to help elevate innovations and optimize both patient and provider experiences."
In addition to Krell and Arena, Revere Partners is backed by a world-renowned venture team, including former 13-year American Dental Association Executive Director Dr. Kathy O'Loughlin and dental technology pioneer Dr. Edward Zuckerberg. From its clinical merits, channel partnerships and growth strategy, Revere Partners is bringing the best oral and systemic health start-ups and the brightest founders to market by matching them with exceptional investors and industry experts.
Revere Partners utilizes a rigorous research process that enables the fund to deliver unique insights to investors. The firm recently compiled data from over 700 transactions, comprising the largest database of its kind, and found a 33-35%* internal rate of return (IRR) and 5.2X returns in 4.8 years on average across oral health-startups broadly.
*IRR is calculated internally using company fundamentals and accepted valuation techniques.
About Revere Partners
Revere Partners is the first venture capital fund exclusively focused on oral health, identifying opportunities for investors and providing capital for cutting-edge technology innovations in the oral and systemic health sectors. Revere Partners' inaugural fund has a flexible and unique structure with continuously open fundraising that also enables startups to connect with unrivaled industry resources and growth opportunities. Founded by Dr. Jeremy Krell and David Arena, Revere Partners fosters strategic partnerships that improve care delivery as well as patient and provider experiences - maximizing value for investors. Revere Partners is committed to inclusive partnerships with underserved businesses in the healthcare sector, including but not limited to, women-, minority and LBGTQ+-owned enterprises. To learn more visit www.reverepartnersvc.com or on LinkedIn.
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