We are thrilled to announce that we have completed our 9th investment into MediCircle. MediCircle is a licensed Class A pharmacy dedicated to revolutionizing the medical supply chain by reclaiming and redistributing unused medications, primarily focusing on cancer care medications to start.
Leveraging a patented process, MediCircle provides massive savings of up to 70% for payors, including PBMs, self-insured employers, and insurance companies, while also offering goodwill incentives for those with surplus medications. By addressing issues like medical waste and rising medical costs, MediCircle is well-positioned to make a significant impact. This investment aligns well with our strategy to focus on innovative technologies and services that drive meaningful change in the healthcare sector.
You can view the full Investment Memo - Link Here
This month we launched our first Meet the Athlete event with Matt Barnes, in partnership with Hartbeat Ventures and with J.P.Morgan as our sponsor.
We received over 50 applications, and selected 8 companies to join us for dinner with Matt. Although our intention was to have Matt work with one company, he ultimately selected TWO companies to work with in a short-term advisory capacity. We consider this a testament to a great deal flow pipeline and curation process managed by OVC.
Since the launch of Meet the Athlete, and our feature in Sports Business Journal, we have received quite a bit of outreach from other athletes, and potential sponsors and partners. We believe we’ve identified a unique and differentiated approach to advance early stage company growth and build meaningful partnerships that build brand eminence for both OVC and our portfolio companies. Open Venture Capital will diligence both companies for potential to invest.
Moving Forward - we are preparing for our second Meet the Athlete activation with Allyson and Wes Felix. For Allyson, we will be building a pipeline of consumer brands and maternal health companies (further bolstered by the grant awarded to Allyson by the Melinda French Gates Foundation - link here).
We’re headed into a busy Q4 focused on the following: