PACE Healthcare Capital’s Julia Monfrini Peev

From our Women's PE Briefs - week commencing May 3, 2021

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PACE Healthcare Capital, which was formed last year by Julia Monfrini Peev, does its first deal, backing a company seeking to improve clinical training for doctors – a sector she tells Women’s PE Briefs “is begging for innovative solutions.” PACE took part in AMOpportunities’ $5.4 million Series A round that also included OCA Ventures, HealthX Ventures, Chicago Early Growth Ventures, Dreamit Ventures, Wildcat, LLC and the University of Chicago, which was led into AMO by Joanna Rupp, assistant vice president, managing director of private equity with the school’s investment office. The school is represented on AMO’s board by Waverly Deutsch, a clinical professor and academic director of university-wide entrepreneurship content.

Based in Chicago, AMO has developed a platform that delivers clinical education sustainably for students, schools and clinical sites such as hospitals. All future doctors need clinical training to graduate and enter the health care workforce. However due to staffing issues and overburdened administrators, hospitals are often unable to easily support hands-on clinical training. AMO seeks to solve this problem by connecting hospitals, medical students and medical boards on an easy-to-use platform. The company is now expanding its training for nursing students.

Julia said she came to know of AMO last year through MATTER, a Chicago-based hub for health care tech innovation, and was “immediately impressed by the management team and the business model, both from professional and personal experience.” Julia said her husband, a cardiac surgery fellow, had previously gone through “the nuts and bolts” of clinical training and it made both of them realize that “the sector is begging for innovative solutions.” She said that she and the PACE team provided the company with operational and financial advice before ultimately deciding to invest. “With education moving online, and hospitals more and more constrained to organize their staffing solutions, the overall industry is excited about AMO’s service offering, and the company is poised for strong growth,” she said.

With $1 billion of capital deployed, Julia has spent more than a dozen years investing in health care companies. Prior to forming PACE, she spent time as a managing director with Blue Hill Capital Ventures, was a director in private equity investments and co-head of health care for Caisse de dépôt et placement du Québec and was a vice president with Monitor Clipper Partners. Julia said she started PACE to focus on digital health and health care tech companies between the coasts. Among the people she has worked with in developing the firm are Ellen Rudnick, adjunct professor of entrepreneurship at the University of Chicago’s Booth Business School who has spent more than 20 years in health care, and Maria Siambekos, a health care tech executive with more than 25 years of experience. The firm will look to raise a fund later this year, but for now is forming special purpose vehicles to do deals.

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