VC firm Lux Capital is rolling out an exchange-traded fund focused on digital health in partnership with First Trust Advisors, the firms announced yesterday.
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This isn’t Lux’s first foray in the world of public market investing. It’s launched index funds in the past, including the Nasdaq Lux Health Tech Index. And as Axios noted today, the initial investments will come from Lux partners rather than Lux funds.
It is, however, an interesting spin on the trend of public market investors also investing in the private markets. Given how many stocks have been down this year, investors are able to invest at a discounted rate in the public markets.
Some of Lux’s most recent investments include fertility startup Alife, finance automation platform Ramp, and peer-to-peer sports betting exchange Novig. Lux Capital also has invested in a number of health care-related companies, including Maven Clinic, along with digital fitness companies such as Balanced.
In terms of recent exits, Lux portfolio companies including Rigetti Computing, Matterport and Latch have all gone public within the past year.
In general, digital health has been a hot area the past few years, particularly since the onset of the COVID-19 pandemic. Several digital health startups have gone public in recent years, including One Medical, Hims & Hers, Clover Health and GoodRx.
Illustration: Dom Guzman
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