What Foreground Capital does

Foreground Capital is a San Francisco-based venture capital firm that invests in early-stage companies addressing conditions that affect women directly, differently, or disproportionately. The firm invests primarily at Seed and Series A, with opportunistic Series B and later participation, leading or co-leading rounds and accepting inbound pitches via [email protected]. Portfolio activity spans biopharma, medical devices, diagnostics, digital health, tech-enabled services, and consumer health, with named investments including SimpliFed (virtual maternal health), Seven Starling (perinatal behavioral health), Millie (midwife-led maternity care), AOA Dx (ovarian cancer diagnostics), and Raydiant Oximetry (non-invasive fetal monitoring).

The firm traces its roots to RH Capital, founded in 2019 as a wholly-owned subsidiary of a non-profit, and was spun out in 2024 to operate as a fully independent venture capital firm. It continues to manage legacy RH Capital Funds I and II while deploying Foreground Capital Fund III. The 5-person core team is led by Co-founders and Managing Partners Elizabeth Bailey and Stasia Obremskey, with Partner Alice Zheng, MD, Associate Yvanka de Soysa, PhD, and Chief of Staff Molly Ward. An Investment Advisory Committee includes Janice Bourque (Hercules Capital), Stacy Feld (Johnson & Johnson Innovation), Amy Pollack, MD (formerly Bill & Melinda Gates Foundation), and Erika Seth Davies (Rhia Ventures).

Economically, Foreground Capital generates revenue through traditional venture fund economics: management fees on committed capital across its active funds and carried interest on realizations. The firm takes board director or observer seats with the majority of portfolio companies, operates from offices in San Francisco and Boston, and reports that 90% of portfolio companies are led by women or people of color, with 95% having a woman on the board.

Name

Foreground Capital

Legal name

Foreground Capital Management LLC

Website

https://foreground.vc

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

Foreground Capital is a San Francisco-based early-stage venture capital firm investing at Seed and Series A in companies addressing conditions that affect women directly, differently, or disproportionately, managing legacy RH Capital funds and its own Fund III.

Ownership category

akta.pro rank

Product category

Healthcare Venture Capital

NAICS

All Other Financial Investment Activities (52399), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

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

Keywords

• Venture capital investing
• Women's health startups
• Early-stage funding
• Healthcare venture capital
• Seed series A

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices2 records

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 Fund Management: Foreground Capital generates returns through management fees and carried interest from their venture funds. They manage legacy funds RH Capital Fund I and II and are currently deploying Foreground Capital Fund III. Returns come from equity investments in early-stage women's health companies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Foreground Capital is a venture capital firm that invests equity capital in early-stage women's health startups at the Seed and Series A stages, with opportunistic Series B and later participation. The firm also provides strategic guidance, sector expertise, network introductions, and board director or observer support to portfolio companies. Capital is deployed through legacy RH Capital Funds I and II and the active Foreground Capital Fund III.

Product overview

Foreground Capital is a venture capital firm that does not offer products or services in the traditional sense. The company provides investment capital and advisory services to early-stage women's health companies. Their offering consists of funding (Seed and Series A investments, with opportunistic Series B and later), strategic guidance, sector expertise in women's health, and network connections for portfolio companies. The firm manages multiple funds including legacy RH Capital Funds I and II and Foreground Capital Fund III, and takes board director or observer seats with the majority of their portfolio companies.

Differentiator

Problem solved

Functional benefit

Products and services

• Foreground Capital Fund III
• RH Capital Fund I (legacy)
• RH Capital Fund II (legacy)

Quantifiable outcome

• Over 500,000 women served across portfolio companies
• +2 more outcomes

Named customers5 records

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

Three partnerships are on record, tiered core and minor.

• Investment Advisory Committee MemberscoreStrategic or Co-development PartnerAdvisory committee includes Janice Bourque (Hercules Capital), Stacy Feld (Johnson & Johnson Innovation), Amy Pollack MD (former Bill & Melinda Gates Foundation), and Erika Seth Davies (Rhia Ventures). They support investment strategy, due diligence, and portfolio management.
• HITLABminorStrategic or Co-development PartnerForeground Capital participated in the HITLAB March 2026 Symposium, sharing insights on women's health innovation.
• SVB (Silicon Valley Bank)minorStrategic or Co-development PartnerForeground Capital team contributed content to SVB's Women's Health Innovation reports and industry insights.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Portfolia: Portfolia operates thematic investment funds including the FemTech Fund focused on women's health and longevity ventures. It is directly comparable to Foreground Capital as both firms offer specialized women's health exposure with similar early-stage deal sourcing and female-founder emphasis.
• Seae Ventures: Seae Ventures is an early-stage venture capital firm investing in women- and minority-led healthcare companies, with a portfolio spanning maternal health, behavioral health, and women's health broadly. It is directly comparable to Foreground Capital as both firms specialize in early-stage women's health investing with similar portfolio composition and check sizes.
• SteelSky Ventures: SteelSky Ventures is a venture capital firm that invests in early-stage women's health and wellness companies across consumer health, digital health, and care delivery. It is directly comparable to Foreground Capital due to overlapping early-stage women's health investment thesis and similar founder-focused operating approach.
• Avestria Ventures: Avestria Ventures is a pre-seed and seed venture capital firm investing in women's health and female-founded companies. It is directly comparable to Foreground Capital as both target early-stage women's health startups with similar thesis around underinvested conditions affecting women.
• Rhia Ventures: Rhia Ventures is an impact investment firm focused on women's health and reproductive health innovation. It is comparable to Foreground Capital as both firms invest in women's health with similar sector focus; Erika Seth Davies of Rhia Ventures sits on Foreground's Investment Advisory Committee.

Broad incumbents

• Wavemaker 360 Health: Wavemaker 360 Health is a healthcare-focused venture capital firm investing across health technology, services, and devices. It is comparable to Foreground Capital as a broader healthcare investor with significant overlap in digital health and care delivery portfolio companies.
• General Catalyst: General Catalyst is a major venture capital firm with a substantial healthcare practice including Health Assurance initiatives spanning digital health and care delivery. It is comparable to Foreground Capital as a broad incumbent increasingly active in women's health and digital health investments.
• Andreessen Horowitz (a16z Bio + Health): Andreessen Horowitz operates the a16z Bio + Health fund, one of the largest dedicated biotech and digital health venture franchises, with increasing activity in women's health and femtech. It is comparable to Foreground Capital as a broad incumbent that competes for both deals and LP attention in the women's health theme.
• New Enterprise Associates (NEA): New Enterprise Associates is a major venture capital firm with a long-standing healthcare and life sciences practice spanning biopharma, devices, and digital health. It is comparable to Foreground Capital as a broad incumbent with overlapping healthcare investment areas and follow-on capacity that affects portfolio outcomes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/foregroundcapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

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

M&A

Investments5 records

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

Frequently asked questions about Foreground Capital