Women’s Health Fund IV:
Now Open to New Investors
Invest with a Community that is Changing the Future
At Portfolia, we believe investing is more impactful—and more rewarding—when you do it together. Our members are entrepreneurs, executives, innovators, and changemakers, united by a shared vision: to invest in breakthrough innovations that deliver both strong returns and lasting impact.
What Makes Our Approach Different:
Our members bring unmatched
insight, strategic value, and
community strength.
Each fund is led by seasoned investors with deep domain expertise and expansive networks.
We invest across the U.S. and across stages—from early seed rounds
to pre-IPO.
We co-invest alongside top names in venture capital, giving members access to premier deal flow.
Already Backing the Breakthroughs
Gameto — engineering ovarian cells outside the body to transform IVF, cutting weeks of hormone injections down to just days. Already leading to healthy births.
YourChoice Therapeutics — the first non-hormonal male birth control pill, creating real partnership in contraception.
Backing Fund IV today means these companies — and others like them — are already in your portfolio.
Quick Facts:
Fertilo, Gameto’s lead program, is set to revolutionize IVF and egg-freezing by making the process faster, safer, and more effective.
Fertilo has received FDA tentative approval for Phase 3 trials, a major step toward U.S. commercialization. Fertilo is already being used clinically in Australia and Latin America, with 9 babies born to date.
Gameto is making significant strides in women's health technology, particularly in fertility treatments.
WHY INVEST IN WOMEN’S HEALTH FUND IV NOW?
$600B+ Market: Women’s health is one of the largest and fastest-growing opportunities in healthcare
Proven Model: 100+ investments across 46 women’s health companies — including 2 unicorns.
Exclusive Access: Invest alongside top VCs and scientific leaders in the earliest stages of women’s health innovation.
The Member Experience:
When you join Portfolia, you get more than access to investments—you gain a front-row seat to innovation. Members are invited to virtual pitch calls and receive regular updates from our portfolio companies. They gain insight into fund strategy and market trends directly from experienced Fund Partners. They also have the chance to connect with fellow investors across the country and engage directly with the founders shaping the future of their industries.
The Portfolia Advantage
Diversified Portfolio: From early seed to pre-IPO.
Best-in-Class Fund Partners: Experts with decades of investing and operating experience.
Investor Experience: Join live pitch calls, hear diligence in real time, and get direct updates from founders.
As the most active investor in women’s health globally, with 105 investments in 46 companies, we’ve backed category leaders like Maven Clinic, Everly Health, Gameto, and YourChoice Therapeutics.
Women’s Health Fund IV builds on five successful prior funds, giving investors access to category-defining companies and Fund Partners with decades of experience. Early investments already include Gameto and YourChoice Therapeutics—both poised to transform their fields.
Ready to Learn More About Women’s Health Fund IV?
Join us for one of our upcoming Overview Events featuring the Fund Partners and Portfolia’s Investor Relations team. We’ll review the fund’s investment thesis, explore the landscape of opportunities in women’s health, and answer your questions live.
📅 Upcoming Fund Overview Event Dates: Every Wednesday at 11:30 AM PST
These sessions are the perfect opportunity to understand how Women’s Health Fund IV is positioned to lead in this high-growth, high-impact sector—and how you can be part of it.
THE PARTNERS
Led by Experts in Women’s Health and Venture Capital. Backed by decades of experience, our fund advisors source and vet opportunities with scientific rigor and strategic vision. Portfolia Partners are selected to join a fund because of their expertise and investment history in the relevant space, deep networks of co-investors and entrepreneurs, and their ability to add value to portfolio companies over the life of the investment. Fund Partners are best-in-class investors, with an average of 15+ years of investing experience.
TRISH COSTELLO
Founder and CEO of Portfolia, Trish Costello is a trailblazing Silicon Valley investor and entrepreneur. She previously led the Kauffman Fellows Program and founded CVE Capital Corp., with over $1.7B under management. Recognized globally for her leadership in venture education and women’s investing, she was named Springboard Investor of the Year, Business Insiders Top Ten Early Stage Investors in 2024 and 2025, and Entrepreneur Magazine’s Top 100 Innovative Women Leaders.
NOLA MASTERSON
A biotech pioneer with 45+ years of experience, Nola was the first biotech analyst on Wall Street and co-founded Sequenom, Inc. She has launched and advised numerous life sciences companies and served on multiple public and private boards. A long-time Portfolia leader, she brings deep venture expertise, board governance, and a global leadership perspective to Women’s Health investing.
FAZ K. BASHI, MD
Dr. Faz Bashi is a leader in life sciences investing with a background in immunology and virology. He has chaired multiple angel screening committees, led investments for Portfolia’s FemTech funds, and supports women entrepreneurs through Springboard Enterprises. He is a passionate advocate for innovation in diagnostics, digital health, and inclusive venture funding.
SONIA ARRISON
Sonia Arrison is a longevity investor, author of 100 Plus, and founder of 100 Plus Capital. She serves on boards like the Foresight Institute and Alliance for Longevity Initiatives, and advises Felicis Ventures. A leader at the intersection of tech and aging, Sonia brings deep expertise in life extension, societal innovation, and investing in transformative aging solutions.
JENNIFER FRIED
Jennifer Fried is CEO and co-founder of Flow Medical and a veteran venture-backed founder with an exit under her belt. She served as CEO of Explorer Surgical and teaches entrepreneurship at Booth School of Business. An early-stage investor and Portfolia fund partner since 2018, Jennifer brings operational expertise, VC insight, and a mission-driven focus on healthcare innovation.
DELPHINE O’ROURKE
Delphine O’Rourke is a healthcare lawyer, strategist, and investor focused on women’s health innovation. With 20+ years of experience across legal, regulatory, and executive roles, she advises startups and boards globally. She brings critical expertise in healthcare policy, investment diligence, and advancing equitable solutions for women’s health.
Watch the Women’s Health Overview Event Replay:
Get an inside look at Portfolia’s latest fund launch with this recorded overview session featuring our Fund Partners and leadership team. Ready to invest in the most underfunded, high-growth market in healthcare? Watch the video and see how Portfolia is putting capital—and care—into action.
PROVEN TRACK RECORD
Fund IV builds on our global leadership, optimizing returns and driving meaningful impact in women’s health. We identify top talent that deliver breakthrough value and exceptional growth. This remarkable success stems not from a single company but reflects the strength and execution of a well-founded thesis. The Women’s Health Fund IV will invest in top early to growth-stage companies across all sectors.
Our Focus Areas
Women-specific Conditions: Contraception, Fertility, Maternal Health, Menopause, Gynecology & Women’s Oncology
Conditions that Affect Women Differently: Cardiovascular Disease, Diabetes, Alzheimer’s Disease
Conditions that Affect Women Disproportionally: Autoimmune Disease, Osteoporosis, Anxiety and Depression, Lung Cancer, Eating Disorders
FAQs
-
Active Aging & Longevity Fund I is currently at 1.2x TVPI (Multiple) with a Projected TVPI of 2.8x
FemTech Fund I is currently at 1.02X TVPI with a projectedTVPI of 3.10x
Active Aging & Longevity Fund II is currently at 1.18x TVPI with a projected TVPI of 2.7x.
FemTech Fund II is currently at a 0.79x with a Projected TVPI of 2.8x
-
Portfolia is the recognized leader in the women's health sector and the most active investor globally in women’s health with 44 women’s health companies in its portfolio and has invested in 66 healthcare companies across all Portfolia funds.
The current portfolio of women’s health companies is strong, innovative, and scaling. Building on history, reputation and momentum, Portfolia commands a robust pipeline with unique deal flow and singular expertise in the marketplace, translating into growing opportunities in women's health and longevity, across all stages.
Portfolia investments include:
Maven Clinic – $1.7B global virtual clinic for women
Everly Health – $3B+ diagnostics-driven care through at-home lab tests
Mirvie – RNA platform for early detection of preeclampsia
Lighthouse Pharma – Breakthrough solutions for Dementia/Alzheimers
Frontier Bio – Developing lab-grown human tissue
Mercy Bioanalytics – Blood test for early detection of ovarian cancer
Bone Health – The first FDA approved solution for osteopenia
YourChoice – First non-hormonal male birth control pill
Hera Biotech – Non-invasive diagnostic for endometriosis and cervical cancer
Gameto – Breakthrough cell engineering targeting infertility and menopause
-
Women’s Health Fund Portfolia Partners are selected to join a fund because of their expertise and investment history in the relevant space, deep networks of co-investors and entrepreneurs, and their ability to add value to portfolio companies over the life of the investment. Fund Partners are best-in-class investors, with an average of 15+ years of investing experience.
Women’s Health IV Fund Partners:
Trish Costello - Managing Director
Nola Elizabeth Masterson, MSc. (FemTech I, II & III)
Faz K. Bashi, MD (FemTech I, II & III)
Jennifer Fried, M.B.A (FemTech I, II & III)
Sonia Arrison (Active Aging II)
Delphine O’Rourke, JD (FemTech III)
Fund Partners are geographically located in every major innovation hub in the US.
-
Portfolia Women’s Health Fund IV is the next evolution in its proven, category-defining investment strategy backing high-growth, high-impact innovations that are transforming the health and wellness of women across every stage of life.
Building on five successful prior funds in FemTech and Active Aging, Fund IV will invest in the most promising early to growth-stage companies at the intersection of science, technology, and female biology.
Women make up half the population, control 80% of healthcare decisions, and account for over $15 trillion in global spending power, yet only 2% of venture funding in healthcare goes toward solutions built for their unique needs. Portfolia is here to change that.
-
Portfolia provides the back office, structure and limited partner support so the world's top VCs can focus on investing.
Portfolia's 46 partners across 14 funds lead the industry's best practice, and provide an expert investing network across industry
Portfolia's 2,000 limited partner executive, across all 50 states and 20 countries, provide unparalleled knowledge, networks, and expertise.