BOSTON–Flare Capital Partners, a healthcare technology venture capital firm, announced the promotion of Parth Desai to Principal.
“Parth has been a tremendous asset to our firm and our portfolio companies, while demonstrating a deep understanding of the healthcare industry and where it is heading. We are thrilled to promote him to Principal,” said Bill Geary, co-founder and general partner, Flare Capital.
Desai joined Flare Capital in March of 2019. In addition to identifying new investment opportunities and working closely with existing Flare Capital portfolio companies, he helps manage the Flare Capital Scholar program as well as the firm’s recently formed Flare Scholar Ventures.
Prior to joining Flare Capital, Desai was on the investment team at New York-Presbyterian Ventures, where he worked to identify and invest in innovations with the potential to improve the quality and experience of care. He also spent time at Deloitte Consulting advising hospital and health plan executives to invest in capabilities to succeed in risk-bearing arrangements. Earlier in his career, he served as a health policy analyst in the Massachusetts Legislature, where he led the development of legislation reforming oversight of the pharmaceutical compounding industry.
Desai holds a Master of Arts in Clinical Medicine from Boston University School of Medicine, a Master of Public Health in Health Policy and Management from Boston University School of Public Health and a BS in Biology from Boston College.
Flare Capital Partners also announced the launch of Flare Scholar Ventures, an initiative designed to support innovative technologies, developed by or supported by its Flare Capital Scholars. Flare Capital Scholars is a growing community of 150 promising young healthcare executives who engage with the Flare Capital investment team to supplement their professional development and gain exposure to venture capital and healthcare technology start-ups.
Since 2015, the Flare Capital Scholars program has been a catalyst for healthcare innovation. Alumni of the program have gone on to found companies, take on leadership positions at high-growth startups and leading global and national healthcare organizations, as well as join healthcare investment firms.
“We continue to be impressed by the remarkable accomplishments of our Flare Scholars. As they progress in their careers as future healthcare leaders and innovators, we are excited to support their endeavors with this significant capital commitment,” said Michael Greeley, co-founder and general partner, Flare Capital.
Flare Capital plans to selectively make investments out of this new initiative during the investment phase of its recently launched second fund.