Rhia Ventures

What Rhia Ventures does

Rhia Ventures is a 501(c)(3) nonprofit organization founded in 2018 and headquartered in San Francisco, CA, that advances reproductive and maternal health equity by leveraging capital markets. The organization operates through three interlocking activity areas: systems change (proprietary equity frameworks such as the HEART Framework and The REAL Framework), capital strategies (historically through RH Capital, an early-stage women's health venture fund that reached $43.5M in AUM across two funds before the investment team spun out as Foreground Capital in October 2024), and advising services to institutional investors, asset owners, and corporate employers on integrating health equity and racial equity into investment and benefits decisions.

Its core proprietary technology consists of frameworks rather than software: the HEART Framework (Health Equity Assessment and Rating Tool) for organizational positioning on health equity, Due Diligence 2.0 (a nine-shift framework for allocators to address systemic racial barriers in diligence, transferred from Adasina in November 2024), and The REAL Framework. Rhia also maintains narrative-change and accountability products including the P.S. Blossom podcast, the #WhatAreYourReproBenefits corporate-responses database, and a coordinated shareholder-advocacy program that has driven shareholder proposals receiving 30-47% average vote support.

The business model combines tax-deductible donations, paid advisory services, and, since 2025, priced cohort programs (the Impact Measurement & Management for Health Equity 2025 Cohort at $15,000 per organization, partnered with Impact Frontiers and Duke CASE). Customer segments are enterprise in nature: institutional investors and asset owners (foundations, endowments, family offices), corporate employers seeking post-Dobbs reproductive-health benefits guidance, and — historically via RH Capital — early-stage women's health startups. The 11-50 employee organization reported approximately $43.5M in cumulative capital deployed across its two funds prior to the Foreground Capital spin-out, with 20+ portfolio companies, and currently operates with no disclosed revenue figures.

Name

Rhia Ventures

Legal name

Rhia Ventures

Website

https://rhiaventures.org

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Rhia Ventures is a 501(c)(3) nonprofit founded in 2018 that advances reproductive and maternal health equity by equipping institutional investors, corporate employers, and women's health startups with proprietary equity-assessment frameworks (HEART, REAL, Due Diligence 2.0), shareholder advocacy, and venture capital deployment.

Ownership category

akta.pro rank

Product category

Reproductive Health Advocacy and Impact Investing

NAICS

Other Financial Vehicles (525990)

SIC

Investment Advice (6282)

akta.pro primary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

akta.pro secondary industry

Philanthropy & Foundations Advisory (Donor-Advised Funds, Endowments) (FSAAABAH)

Keywords

• Impact venture capital
• Reproductive health equity
• Health equity frameworks
• Shareholder advocacy services
• Women's health investing

Headquarters

HQ city

Bellerose

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others, Technology or R&D

Revenue model

1. Donations and Charitable Contributions: As a 501(c)(3) tax-exempt organization, Rhia Ventures receives donations from individuals, foundations, and organizations. Donations are tax-deductible as allowed by law. Tax ID number: 83-0828013.
2. Investment Returns (RH Capital): RH Capital, a Rhia Ventures fund, is an impact-first venture capital fund that invests in early-stage startups in women's health. Returns from RH Capital fund investments support Rhia Ventures' operations.
3. Advisory Services: Rhia Ventures provides advising services to organizations, investors, and entrepreneurs on incorporating health equity and racial equity into their capital strategy.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Rhia Ventures is a 501(c)(3) nonprofit that advances reproductive and maternal health equity through three activity pillars: systems change (proprietary equity frameworks such as HEART and The REAL), capital strategies (the RH Capital early-stage women's health venture fund), and advisory services for institutional investors, corporations, and entrepreneurs. The organization coordinates shareholder advocacy, operates educational learning cohorts, and accepts tax-deductible donations to support its mission.

Product overview

Rhia Ventures is a social impact nonprofit organization (501(c)(3)) that advances reproductive and maternal health equity by leveraging capital markets. The organization operates through three main activity areas: systems change (HEART Framework, The REAL), capital strategies (RH Capital venture fund), and advising services. Key products include RH Capital (early-stage women's health VC fund), the HEART Framework (health equity assessment tool), The REAL (racial equity in investment framework), P.S. Blossom podcast (narrative change), the #WhatAreYourReproBenefits database, and shareholder advocacy/coordinated proposals. The organization also runs educational programs like the Impact Measurement & Management for Health Equity cohort.

Differentiator

Problem solved

Functional benefit

Brands

• P.S. Blossom: A podcast that connects the lived experiences of Black, Indigenous and other women of color to the innovations, policies, and narratives being created in the health and wellness market.
• HEART Framework
• #WhatAreYourReproBenefits

Products and services

• RH Capital Impact-first venture capital fund that invests in early-stage startups promising to revolutionize women's health and improve health equity in the US; managed $43.5 million AUM across two funds with 20+ portfolio companies.
• HEART Framework Health Equity Assessment and Rating Tool adapted from the REAL Framework, providing a standardized approach for organizations to assess their health equity positioning; includes Investor Framework, Diligence Tool, and Rating Tools.
• The REAL (Racial Equity Asset Lab) Program that works with asset owners seeking to bring racial and gender equity to their investment decision-making; provides advising services and field-building activities including The REAL Framework, Due Diligence 2.0, Innovative Investors Toolkit, and Transparency Dashboard.
• Due Diligence 2.0 (DD2.0) Inclusive due diligence process designed to expand the aperture for investment opportunities and remove systemic barriers to underrepresented asset managers of color; includes nine shifts allocators can make in the due diligence process; has attracted 100+ signers.
• P.S. Blossom Podcast Podcast that connects lived experiences of Black, Indigenous and other women of color to innovations, policies, and narratives in the health and wellness market; accompanied by SHIFT guides for narrative change.
• #WhatAreYourReproBenefits Database Online database tracking corporate responses to abortion bans, covering communications affirming abortion access, policies covering abortion-related travel, paid time off for abortion travel, and support for reproductive health organizations.
• Impact Measurement & Management for Health Equity Cohort 6-month paid learning cohort ($15,000 per organization, up to 5 participants) designed to help health-focused investors develop comprehensive impact management approaches; includes monthly sessions, guided DIY implementation, and individual consulting sessions.
• Charitable Donations Program 501(c)(3) tax-exempt donation program accepting contributions from individuals, foundations, and organizations to advance reproductive and maternal health equity through capital deployment.
• Shareholder Advocacy Services Coordinated shareholder advocacy services addressing reproductive health care access, data privacy, political spending alignment, and risk mitigation at corporations; engages institutional investors to file shareholder proposals.

Quantifiable outcome

• Shareholder proposals on reproductive health filed by coordinated investors
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered minor and core.

• Impact FrontiersminorStrategic or Co-development Partner · 5 May 2025Impact Frontiers partnered with Rhia Ventures and Duke University's CASE to offer the Impact Measurement and Management for Health Equity 2025 Cohort program for health-focused investors.
• Duke University CASEminorStrategic or Co-development Partner · 5 May 2025Duke University's CASE (Fuqua School of Business) partners with Rhia Ventures and Impact Frontiers to offer the Impact Measurement and Management for Health Equity 2025 Cohort.
• Adasina Social CapitalcoreStrategic or Co-development Partner · 13 November 2024Adasina Social Capital launched Due Diligence 2.0 Commitment in 2020 and is transferring ownership to Rhia Ventures' Racial Equity Asset Lab (The REAL). Partnership aims to bring innovation to asset management industry standards for risk assessment.
• FSGminorStrategic or Co-development Partner · 21 January 2020FSG is a social impact consulting firm that partnered with Rhia Ventures to publish Hidden Value: The Business Case for Reproductive Health, conducting research with PerryUndem surveying attitudes of 1,377 college-educated employed Americans.
• New Markets Support Company (NMSC)minorStrategic or Co-development PartnerNMSC and Rhia Ventures co-hosted a program discussing NMSC's white paper on narrowing the Black-White health gap and opportunities for private investment to drive progress.
• PropelevateminorStrategic or Co-development PartnerRhia Ventures partnered with Propelevate and Catalyst Global on a two-part virtual Masterclass for reproductive and maternal health companies looking to enter diverse global markets.
• Catalyst GlobalminorStrategic or Co-development PartnerRhia Ventures partnered with Propelevate and Catalyst Global on masterclasses for reproductive and maternal health companies on scaling in diverse global contexts and navigating regulatory pathways.
• HealthTech4Medicaid (HT4M)minorStrategic or Co-development PartnerRhia Ventures partnered with HealthTech4Medicaid and Manatt Health to equip early and growth-stage companies to expand participation in the Medicaid market for reproductive and maternal health equity.
• Manatt HealthminorStrategic or Co-development PartnerPartnered with Rhia Ventures and HealthTech4Medicaid to provide learning collaborative for reproductive and maternal health innovators on Medicaid market entry and expansion.
• Center for Democracy and Technology (CDT)minorStrategic or Co-development PartnerRhia Ventures hosted a virtual masterclass on Data Privacy for Reproductive Health with panelists from CDT, Euki, and aboboTech, providing practical strategies for funders and organizational leaders.
• PerryUndemminorStrategic or Co-development PartnerResearch partner conducting surveys on attitudes and opinions of Americans regarding reproductive health care. Research undergirds Hidden Value report published by Rhia Ventures.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• FSG: Social impact consulting firm that partnered with Rhia Ventures on the Hidden Value report. Operates at the intersection of impact strategy, foundation advising, and field-building in health equity.
• Portfolia: Venture investing platform with a dedicated Femtech and women's health fund. Directly comparable as a women's health VC with similar stage and mission focus.
• Tara Health Foundation: Co-founder and financial anchor of Rhia Ventures; a health-focused foundation that invests in reproductive and maternal health. Operates as a strategic philanthropic partner with overlapping program areas.
• Foreground Capital: Independent venture firm spun out of RH Capital in September 2024, continuing to manage RH Capital Funds I and II and investing in early-stage women's health startups. Direct continuation of Rhia's VC investing activity.
• SteelSky Ventures: Venture capital firm investing in women's health innovation, similar to RH Capital's strategy. Comparable early-stage investor targeting the same underserved women's health category.
• Adasina Social Capital: Social justice investment advisor that originated the Due Diligence 2.0 Commitment and transferred ownership to Rhia Ventures in 2024. Operates in the adjacent racial and gender equity investing space and shares frameworks for inclusive due diligence.
• Impact Frontiers: Collaborative of investors advancing impact management practice; co-delivers the Impact Measurement & Management for Health Equity cohort with Rhia Ventures and Duke CASE. Strongly overlapping audience of health-focused institutional investors.

Others

• PerryUndem: Research partner that conducted the polling underpinning Rhia's Hidden Value report. Comparable as a reproductive health research and communications consultancy serving similar advocacy audiences.

Broad incumbents

• Ms. Foundation for Women: Large women's rights foundation supporting reproductive justice and women's health movements. Operates broader than Rhia but is a comparable philanthropic and field-building player with overlapping grantee networks.

Emerging players

• Avestria Ventures: Mission-driven fund focused on women's health and wellness startups. Smaller and earlier-stage than Rhia's VC operations, but addresses the same thesis.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/rhiaventures
• Facebookfacebook.com/profile.php?id=100069351320127
• LinkedInlinkedin.com/company/rhiaventures
• Instagraminstagram.com/rhiaventures

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments15 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rhia Ventures