CEO Reggie Holt MS BBA

MEHARRY Medical College for-profit subsidiary MMCV Inc. is assessing the market for a potential $100MM Fund I, according to MMCV CEO Reginald "Reggie" Holt MS BBA.

Responding to a VNC query today, MMCV's Holt confirmed that MMCV filed in Delaware a year ago to register MMC Ventures Fund I LP and MMC Venture Fund I GP, as well MMC Ventures Management Company LLC.

Asked in another recent VNC interview about MMCV investment theses, Holt first emphasized Fund I would not be a "social fund."

That said, he explained MMCV has been "purpose-built" to focus on attractive investments in businesses helping to improve "health equity."

VNC notes that a recent Aspen Ideas post unpacks the equity issue, and happens to mention Nashville VC Jumpstart Nova.

MMCV Fund I will prioritize late Seed-stage and early Series A-stage opportunities. Most other healthcare-oriented VCs focus on later Series A through C-round opportunities, Holt said.

He explained his modeling suggests that a $100MM Fund I could provide capital to at least 35 companies over a four-year period, assuming 20% of Fund I would be set aside for follow-on portfolio investments.

Asked about economic and financial headwinds in the marketplace, Holt emphasized that he shares the view of many others that Nashville is a "unique" geographic market for early-stage healthcare investments, by reason of its numerous healthcare investors, entrepreneurs and incumbent healthcare enterprises, which altogether represent a large and very addressable market of the sort conducive to scaling-up ventures.

Holt speaks from considerable experience: As revealed on his LinkedIn profile, his career spans roles with Cigna, Cigna-HealthSpring, Aberrant Medical Supplies, Everest Systems, Great Health Pharmaceutical Company, and more.

An MMCV fact sheet explains MMCV "is positioned to leverage healthcare innovation to address disparities in health, including lifestyle, primary care, prevention, diagnostics, genomics, health IT, and AI, MMCV, Inc.'s strategic vision enables the organization to play a significant role in commercializing innovation, nurturing it to reach its full revenue-generating potential."

In the same literature, MMCV asserts that MMCV's "strategy to raise a $100M VC Fund to invest in ingenious founders with awesome businesses [and] large addressable markets is transformative for HBCUs; in fact, it's revolutionary. The investment approach will focus on healthcare innovation and addressing disparities, as well as fostering environments that amplify the training of healthcare professionals who are focused on improving the health and wellbeing of underserved communities."

MMCV also explains, "Private Equity funds routinely invest in for-profit ventures of colleges and universities, capitalizing on their systematic opportunity development and access to innovation. Such investment in HBCU innovation has been lacking because it generally requires earlier access to capital. This reality presents untapped potential for entities like MMCV, Inc. to partner with and invest in the development of HBCU innovation, offering significant benefits to HBCUs and promising high ROI prospects for venture capitalists."

The CEO also pointed-out that MMCV Inc. has access to non-VC resources it can use to help grow small businesses that emerge within the Meharry Medical ecosystem, or beyond. Two MMCV vintage-2021 small-business partnerships were previously reported by VNC, and have since run their course, but others will follow.

Anthony Holt

Kevin Billups MD

More recently, for example, MMCV Inc. committed to providing up to $1MM over time to support development and sales growth of Nashville-based Heal90 Inc., in exchange for a minority equity interest in that company.

Heal90 was co-founded by its majority owner, CEO and native Nashvillian Anthony "Tony" Holt, alongside Co-founder Kevin Billups MD, who is director of Meharry Medical College's Men's Health program and a Meharry professor of internal medicine and urology.

Heal90 Co-founder Holt, who is a sibling of MMCV's Reggie Holt, was trained by Billups to qualify as a lifestyle strategist and evidence-based lifestyle coach.

Heal90 operates in the context of restorative health, variables of which include education for decision making, blood pressure management, whole-foods foods dietary regimen, weight management, physical exercise, and other non-medicinal actions.

Its website today declares, in part, "Heal90 is a nutrition and lifestyle program that combines expert-led Zoom-based sessions, online accountability-focused support groups, and tailored whole food plant-based meal strategies to help participants combat chronic conditions."

During an interview for this story, Tony Holt said, in part, "There's a pandemic in our country," which he said is driven by four chronic metabolic health conditions: hypertension and high blood pressure; diabetes or pre-diabetes; obesity; and, serum cholesterol issues.

He said those four factors contribute to seven of the nation's top 10 causes of death, a trend well documented by federal agencies.

Holt, 59, and Billups, 66, recently explained the Heal90 approach to these issues during a NewsChannel5 OpenLine program (in two parts, here).

The Heal90 co-founders told VNC they met during a community gathering in 2017 and learned they had confronted similar health challenges and were pursuing similar goals in the context of Men's Health.

Heal90's Holt was also engaged in health- and wellness-related services at various junctures throughout his career. His LinkedIn profile is here.

James E.K. Hildreth MD, PhD President-CEO MMC

Billups had been recruited to Nashville in 2016 by Meharry Medical College President James E.K. Hildreth Jr. PhD MD, with major impetus being their shared interest in Men's Health issues.

Asked by VNC about assistance Heal90 receives on technology issues, including potential dashboard development, the MMCV team explained that experts within Meharry's School of Applied Computational Sciences and within the Meharry Enterprise Data & Analytics Division are among supporting resources.

Heal90 said its legal counsel is provided by The Advisory PLLC's Jimmie Bizet Strong II JD. Strong is also currently listed in association with The Family Law Firm PLLC. The firms share Memphis offices.

In preparation for this story, MMCV Inc. relied on Perri Dugard Owens and her Dugard Communications to support media relations for itself and for Heal90.

Resources: Health Equity. Social Fund (AHA). VNC Meharry coverage. Bloomberg MMC donation. VNC

.last edited 1040 21 August 2024