Converge Capital Partners Research
Investment Thesis
Converge Capital Partners is a provider-backed healthcare venture fund, described by its own team as created by hospitals, for hospitals, alongside state hospital associations. The fund invests in healthcare IT and services companies at the early and early-growth stage. Its stated mission is to fund innovations that improve patient outcomes, system efficiency and health equity while delivering strong financial returns. The site frames four investment lenses: patient outcomes, patient experience, cost efficiency, and provider well-being. In a 2026 announcement the team named specific focus areas: revenue cycle, workforce, value-based care, data infrastructure, and supply chain. The team also says it sees a strong opportunity in innovation for small and rural communities, and it has appeared at state hospital association events such as the Illinois Health and Hospital Association Small and Rural Annual Meeting.
Differentiated Edge
The central pitch is a proprietary provider network. The LP base is made up of hospital associations, health systems and institutional capital, which the firm says gives it first-look deal flow, diligence conducted with actual healthcare users, faster contracting and sales cycles for portfolio companies, and direct access to strategic acquirers when it is time to exit. The firm also says this network lets it negotiate advantaged terms, including lower valuations, discounted product use and investor-friendly structures. It positions itself as a syndicate partner for other investors who want provider access. The Illinois Health and Hospital Association is a named strategic partner and investor in the Converge Health Fund.
Stage Focus
General partner Katelyn Johnson describes the target as early to early growth, roughly $1M in revenue or more, and fairly stage agnostic except for pre-commercial companies. Seed, Series A and growth rounds fit, but the fund wants commercial traction and companies selling into hospitals. This is not a pre-product investor.
Check Size
The firm does not publish check sizes. Its one tracked deal is a participation in a roughly $14.2M round led by someone else, which says little about its own check. Check size is left unset rather than guessed.
Lead Tendency
Only one transaction is publicly recorded and Converge participated rather than led it. The site says it joins syndicates and invites other investors to co-invest. Lead tendency is unknown, with a lean toward follower or co-investor on current evidence.
Recent Activity and Fund Status
The fund launched in 2026. In a LinkedIn post around September 2026 the team said that eight months after launch it had welcomed multiple institutional LPs and made three investments, and described itself as actively deploying. The only publicly named investment found is Precise Behavioral, a Westlake Village, California behavioral health staffing and operations company, in a roughly $14.2M round in July 2026 led by A1 Health Ventures, with Ziegler Link-Age Fund, Granite Financial Holdings and Converge participating. The other two investments are not named in public sources, so they are not listed.
Team
- Brian Stevens, Managing Partner. More than 25 years in healthcare with deep ties to hospital associations, provider groups and pharmacy associations. CEO and founder of Affiliated Enterprise Solutions, a consultancy building non-dues revenue programs for hospital associations.
- Katelyn Johnson, partner. More than 12 years in healthcare and insurance venture capital, an HBS MBA, 4.5 years of medical device engineering, more than 25 venture deals structured and over $50M deployed. Previously at American Family Ventures and later Cohen Circle. Advises several health system innovation programs.
- Jeff Rollins, partner. More than 25 years of investment and board experience in regulated industries, a Duke Fuqua MBA, grew Bally's revenue from about $100M to $4.5B+, and took part in more than $4B of financings and over 35 M&A transactions.
The three founders cite more than 40 years of combined healthcare operations experience and more than 30 years of collaboration.
Decision Process
A three-partner founding team, so decisions are likely made by partnership. Provider LPs are used as diligence resources.
Founder Preferences
Experienced healthcare leaders and teams who understand hospital procurement, workflow and reimbursement, and who sell to or want to sell to hospitals and health systems. A hospital-validated product is the strongest signal. Warm access through the provider network is a feature of the model, though the firm also invites direct inbound.
Geographic Focus
United States, with attention to rural and small community hospitals. Katelyn Johnson is based in the New York metro area; the firm does not publish a headquarters, so New York is an inference from a partner location.
Gaps
No portfolio page, no fund size or AUM, no check size and no named office are published. Only one portfolio company could be verified from independent sources. The fund is brand new, so activity data is thin.