Jumpstart Nova’s Kathryne Cooper on Funding More Diverse Health Care Startups

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
Jumpstart Nova Partner Kathryne Cooper
Photo courtesy of Kathryne Cooper

On this episode of the LA Venture podcast, Kathryne Cooper introduces Jumpstart Nova, a new $55 million fund investing in seed and Series A companies led by Black founders who are focused on health care innovation.

Cooper, an L.A.-native, previously managed an accelerator that made over 150 investments into medical technology companies. She’s a graduate of Stanford and went to medical school at USC. Later, she would return to the school to get her MBA while working at health tech startups.

Jumpstart’s other partner, Marcus Whutney, works out of Nashville and created the fund in the aftermath of the George Floyd protests and the discussions about racial inequities they prompted. Cooper said the events made Whutney think about health inequities “and specifically his position of power as the only Black VC in Nashville.”

The pandemic was another wakeup call about the disparities in the health care system, especially for people of color, said Cooper.

“There are disparities in our health care system, in terms of health care outcomes affecting communities of color,” Cooper said. “And data has emerged as the disparities in health care outcomes for those who had COVID-19, adversely affecting Black and brown patients—even independent of comorbidities.”

Cooper said research has found that the health care industry, like many others, chronically under-invests in Black and brown leaders.

“Because health care is here to impact and improve patient lives, [...] sometimes it can get a pass for other things—like not being particularly diverse, or having a lack of executives who are women and people of color at certain levels in health care organizations,” she said.

But Jumpstart doesn’t limit its focus to companies working on health care disparities. It also invests in founders focused on a range of health issues.

“Just because you are a founder of color, or woman, or in this case, let's say Black founders, that doesn't mean that your solution needs to solve a health equity issue. It can also solve issues for all patients,” Cooper said.

Jumpstart Nova looks at a wide range of opportunities within health care—everything from tech enabled services, biotech, health IT to diagnostic devices.

If she comes across a promising startup, Cooper said she will often reach out to their strategic limited partners, which are made up of some of the nation’s leading health care companies, including Cardinal Health, the American Hospital Association, Atrium Health and Eli Lilly, among others.

“When we're looking at companies to invest in, we also want to see if there's some way that they may also fit into an ecosystem related to our strategic limited partners,” she said.

Cooper hopes that Jumpstart Nova’s focus on under-invested founders can also help spur other investors and VCs to look at the type of founders they’re investing in.

“If they all kind of over-index in one area, [then they might] ask themselves why that is. Is it a network issue? Is it that you are tending to overlook these founders? You know, I don't know what the answer is. But I encourage people to kind of look at the data and see what it says to you,” said Cooper.

Hear the full episode by clicking on the playhead above, and listen to LA Venture on Apple Podcasts, Stitcher, Spotify or wherever you get your podcasts.

dot.LA Engagement Fellow Joshua Letona contributed to this post.

Subscribe to our newsletter to catch every headline.

College Grads Are Turning Their Backs on the Tech Industry

Lon Harris
Lon Harris is a contributor to dot.LA. His work has also appeared on ScreenJunkies, RottenTomatoes and Inside Streaming.
College Grads Are Turning Their Backs on the Tech Industry
Evan Xie

A new report in Bloomberg suggests that younger workers and college graduates are moving away from tech as the preferred industry in which to embark on their careers. While big tech companies and startups once promised skilled young workers not just the opportunity to develop cutting-edge, exciting products, but also perks and – for the most talented and ambitious newcomers – a relatively reliable path to wealth. (Who could forget the tales of overnight Facebook millionaires that fueled the previous dot com explosion? There were even movies about it!)

Read moreShow less

Are a Vehicle’s Features More Important Than It Being Electric?

David Shultz

David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.

Are a Vehicle’s Features More Important Than It Being Electric?
Photo by Jannes Glas on Unsplash

The state of California wants 100% of new passenger vehicles sales to be fully electric by 2035. Last year, the state hit a nation-leading 16%. That’s pretty good, but 84% is still a long way to go.

A new study, published Monday in Proceedings of the National Academy of Sciences, investigates which factors have been responsible for the rise in new EV sales nationally. The findings indicate that consumers are increasingly likely to choose an electric vehicle, and nearly all of the gains can be explained simply by improving technologies.

Read moreShow less

Colleen Wachob On Navigating Her Wellness Journey As An Entrepreneur

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

Colleen Wachob On Navigating Her Wellness Journey As An Entrepreneur
Courtesy of Behind Her Empire

On this episode of Behind Her Empire, mindbodygreen co-founder and co-CEO Colleen Wachob shares her perspective on managing stress and navigating self-worth as an entrepreneur and the importance of celebrating the wins in your business.

Read moreShow less