Valtruis is a venture and growth-stage investment platform backed by Welsh, Carson, Anderson & Stowe (WCAS) that invests in, builds, and partners with healthcare companies focused on value-based care. The firm supports companies from early-stage development through industry-leading enterprises.
76% of their portfolio is in Healthcare. Deal activity increased 400% year-over-year (5 deals in the last 12 months). Average disclosed round size is $54.6M (across 15 rounds with reported amounts).
Portfolio
13
Fund Size
$300M
Top Stage
Series B
Last 12 Mo
4
Team
MS
Mike Spadafore
Managing Director
TB
Tracy Bahl
Managing Director
EM
Erin Murphy
Executive Assistant
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
17 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 InStride Health | Series C | $30M | Jun 2026 |
 InStride | Series C | $30M | Jun 2026 |
 Nadia Care | Unknown | $12M | Mar 2026 |
 Sevaro Health | Series B | $39M | Sep 2025 |
 Arbital Health | Series B | $31M | Jul 2025 |
 Harmonycares | Series D | $200M | Jul 2024 |
| AAtropos | Series B | $33M | May 2024 |
 Wayspring | Unknown | — | May 2024 |
| InStride Health | Series B | $30M | Jan 2024 |
| InStride | Series B | $30M | Jan 2024 |
| WWellvana Health | Growth | — | Mar 2023 |
 Wellvana | Unknown | $84M | Jan 2023 |
| Wayspring | Growth | $75M | Sep 2021 |
 Cricket Health | Series B | $83.5M | Aug 2021 |
| Wellvana | Unknown | $84M | Jan 2020 |
 Autonomize | Series A | $28M | — |
 InStride Health | Series C | $30M | — |
Top Co-Investors
.406 Ventures7 shared
General Catalyst7 shared
Mass General Brigham Ventures5 shared
HLM Investment Partners3 shared
Oak HC/FT3 shared
First Trust Capital Partners3 shared
FMZ Ventures3 shared
K2 HealthVentures2 shared
The Cigna Group Ventures2 shared
McKesson Ventures2 shared
Heritage Group2 shared
Memorial Hermann Health System2 shared
Martin Ventures2 shared
TPG Rise2 shared
The Blue Venture Fund1 shared
Scale Venture Partners1 shared
Centene Corporation1 shared
Blue Shield of California1 shared
Transformation Capital1 shared
W Health Ventures1 shared
Last updated: 8 September 2026