RH Capital

What RH Capital does

RH Capital is a private, impact-first venture capital firm founded in 2020 and headquartered in San Francisco that invests exclusively in early-stage women’s health companies at Seed to Series A stages. Typical first checks range from $500K to $1.5M, with reserved capital for follow-on participation, and the firm generally seeks board involvement (director or observer) when possible. The firm structures Fund I and Fund II as funds of Rhia Ventures, a non-profit social impact organization, with day-to-day fund administration outsourced to Foreground Capital, allowing a lean internal team of 1–10 employees to operate institutional-scale vehicles.

The firm’s portfolio spans approximately 26 companies across devices, diagnostics, therapeutics, digital health, health services, and consumer health, with sub-vertical coverage including maternal health (Nadia Care, Mamae, Millie, Novocuff, Raydiant), fertility (Cofertility, Ovian, Vitra Labs), contraception (COTC, Contraline, CIRQLE, YCT), diagnostics (Evvy, Testmate Health, AOA), and reproductive telehealth. Nearly 90% of portfolio companies are founded or led by women or people of color. Differentiated support infrastructure includes an Investment Advisory Committee of healthcare leaders and the Women’s Health Innovation Council (WHIC), created with support from the Bill & Melinda Gates Foundation to provide clinical and technical expertise for due diligence and portfolio company support.

RH Capital’s revenue model is transaction-fee based: the firm generates returns through equity investments in portfolio companies, with management fees on committed/invested capital providing baseline operating revenue and traditional venture capital returns (exits) providing upside. Fund II closed at $38.5M in November 2022, with separate reporting indicating over $40M in total capital raised for reproductive and maternal health equity. The firm has co-invested in follow-on rounds alongside strategic capital partners (Valtruis, First Trust Capital Partners, major national payers), indicating syndication capability beyond initial seed checks.

Name

RH Capital

Legal name

RH Capital

Website

https://rhcapital.vc

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

RH Capital is a San Francisco-based, impact-first venture capital firm founded in 2020 that invests Seed-to-Series A capital in early-stage women’s health startups, operating Fund I and II as part of Rhia Ventures with fund management by Foreground Capital.

Ownership category

akta.pro rank

Product category

Impact Venture Capital

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Early-Stage Venture Capital (Series A/B) (FSANAAAB)

akta.pro secondary industry

Gender Lens / Diversity, Equity & Inclusion (DEI) Funds (FSANAJAM)

Keywords

• Venture capital investing
• Women's health funding
• Early-stage investments
• Impact venture capital
• Seed stage capital

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Venture Capital Returns: RH Capital generates returns through equity investments in early-stage women's health companies. The firm seeks outsized returns through traditional venture capital returns from portfolio company exits.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

RH Capital is an impact-first venture capital firm that invests in early-stage women's health startups in the United States, primarily at Seed to Series A. The firm provides $500K to $1.5M initial checks with reserved capital for follow-on investments, often leads deals or participates in syndicates, and seeks board involvement (director or observer). The funds (Fund I and Fund II, managed by Foreground Capital) deploy limited-partner capital across devices, diagnostics, therapeutics, digital health, health services, and consumer health within women's health.

Product overview

RH Capital operates as a for-profit venture capital fund (RH Capital Funds I and II) managed by Foreground Capital, focused exclusively on investing in women's health innovation. The firm does not offer a single unified product but rather provides investment capital and advisory services to a portfolio of approximately 26 women's health companies. The portfolio spans across life sciences (devices, diagnostics, therapeutics), digital health, health services, and consumer health. The investment funds (Fund I and II) serve as the core offering, supplemented by an Investment Advisory Committee and Women's Health Innovation Council (supported by the Bill & Melinda Gates Foundation) that provide clinical and technical expertise for due diligence and portfolio support. Portfolio companies include maternal health platforms (Nadia Care, Mamae, Millie), fertility services (Cofertility, Ovian, Vitra Labs), contraception innovators (COTC, Contraline, CIRQLE, YCT), diagnostics (Evvy, Testmate Health, AOA), telehealth platforms (Thirty, Gesynta Pharma), medical devices (Neuspera, Novocuff, Raydiant), and reproductive health services across the continuum of care.

Differentiator

Problem solved

Functional benefit

Products and services

• RH Capital Fund I and II Venture capital funds managed by Foreground Capital that invest in early-stage women's health companies, typically providing $500K to $1.5M initial equity checks with reserves for follow-on investments.
• Investment Advisory Committee Team of healthcare trailblazers who work alongside RH Capital on investment strategy, due diligence efforts, investment decisions, and portfolio management.
• Women's Health Innovation Council (WHIC) Council created with support from the Bill & Melinda Gates Foundation to provide clinical and technical expertise to inform investment decisions and to support portfolio companies.

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Rhia VenturescoreStrategic or Co-development PartnerRH Capital is a fund of Rhia Ventures, a non-profit social impact organization leveraging the private sector to advance reproductive and maternal health equity. The organizations operate independently but collaborate to spur innovation and address disparities.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• SteelSky Ventures: A women-led venture capital fund focused on women's health and digital health. Most directly comparable to RH Capital in fund thesis (women's health focus), stage (early-stage), and impact-first orientation.
• Portfolia: Activates capital from women investors into women-led and women's health companies via funds and syndicates. Directly comparable in women's health thesis and inclusive founder focus.
• Avestria Ventures: Early-stage venture fund exclusively focused on women's health and female-led healthcare companies. Closely comparable in niche thesis, stage, and impact orientation.
• Metrodora Ventures: Early-stage VC focused on women's health and wellness. Directly comparable in fund thesis, stage, and category focus.
• Female Founders Fund: Early-stage fund investing in women-led companies, with a portion of investments in women's health and femtech. Comparable in mission, founder focus, and stage.
• Foreground Capital: External fund manager of RH Capital Funds I and II. Directly comparable as a small, mission-aligned fund manager with overlap in operational and investment support.
• Seae Ventures: Early-stage healthcare VC focused on women and BIPOC-led companies addressing health equity. Highly comparable in mission, founder focus, and stage.
• Rhia Ventures: Nonprofit parent of RH Capital focused on reproductive and maternal health equity. Comparable as a mission-aligned capital allocator in the same subsector, though structured as a nonprofit.

Broad incumbents

• Khosla Ventures: Large established VC with significant women's health and femtech investments. Comparable as a competitor for deals in the women's health subsector, though broader in thesis and much larger in fund size.
• GV (Google Ventures): Large generalist VC active in women's health, digital health, and life sciences. Competes for the same later-stage women's health deals but operates across all sectors.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/RH_CapitalVC
• LinkedInlinkedin.com/company/rh-capitalvc/?viewAsMember=true

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A

Investments16 records

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

Frequently asked questions about RH Capital