Waterline Ventures

Waterline Ventures is a prominent venture capital firm based in Cambridge, Massachusetts, specializing in early-stage investments within the healthcare sector. Founded in 2011 by Robert Mittendorff, the firm has established itself as a dedicated partner to innovative companies leveraging technology to transform healthcare delivery and patient outcomes. Their core focus areas include healthcare IT, digital health, and tech-enabled healthcare services, reflecting a strategic commitment to the modernization and efficiency of the healthcare industry.

Waterline Ventures primarily targets companies across Seed, Series A, and Series B stages, indicating a preference for businesses that are past the conceptual phase but still in their formative growth period. The firm is known for its disciplined investment approach, seeking out companies with strong management teams, clear market opportunities, and scalable business models. According to their stated investment criteria, Waterline Ventures typically deploys initial investment sizes ranging from $1 million to $10 million. This range allows them to support promising startups from their foundational seed rounds through significant early-growth Series A and B financing. The firm has demonstrated consistent growth in its capital base, successfully raising Waterline Ventures Fund IV, which closed at $200 million in 2023, following prior funds such as the $150 million Fund III in 2019.

Beyond capital, Waterline Ventures aims to be a value-add investor, leveraging its deep industry expertise and extensive network within the healthcare ecosystem. The team provides strategic guidance, operational support, and access to key relationships, helping portfolio companies navigate complex regulatory landscapes and accelerate market penetration. Their portfolio showcases a diverse range of companies addressing critical needs in healthcare, from patient engagement platforms to chronic disease management solutions. The firm's long-term perspective and focus on impactful innovation underscore its commitment to fostering sustainable growth and creating significant value in the evolving healthcare landscape.