UMich student-led Social Venture Fund invests in Conversa Health
The University of Michigan's Social Venture Fund said it participated in the Series Seed B convertible-note round of financing for Conversa Health. Conversa, San Rafael, California, provides services to enable physicians to manage their relationships with patients. The student-led fund said in a statement that it was part of a syndicate of early-stage healthcare investors. A team of seven students did a due-diligence review of Conversa, the fund said. The Social Venture Fund, managed by about 40 students who are on track to bachelor’s and master’s degrees in business administration, said it backs “for-profit companies that place social and environmental impact at the heart of their business models.” The fund has seven active investments. It focuses on healthcare, education, food systems and environment and urban revitalization.
