Q1’21 continued to see strong investor interest following 2020’s record highs, boosted by notable $100M+ healthcare investments and exits. Key themes that emerged over the quarter included the increasing role of data analytics, consumer-centric healthcare, and Medicare & Medicaid solutions in driving efficient care delivery.

• Global healthcare funding hit a new quarterly record in Q1’21. A total of $31.6B in equity funding was raised, boosted by a record number of 96 mega-rounds ($100M+). Deal count grew by 9% to 1.5K+ deals, the second-highest in the last 12 quarters.

• Funding in Asia declined in Q1’21. In the meanwhile, North America and Europe saw increases in funding QoQ, with North America’s total boosted by over 2x growth in the number of mega-rounds.

• Global digital health funding jumped by 9% QoQ in Q1’21. Equity funding to digital health companies reached an all-time high of $9B+ in Q1’21, while deal count increased by nearly 13%.

• Digital health companies went public via traditional IPOs and SPACs. Tech-enabled Medicare Advantage companies Oscar Health and Alignment Healthcare went public in Q1’21. A range of digital health companies, from consumer health to omics, announced plans to go public via SPACs.

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