Foreground Capital has built one of the largest dedicated women’s health portfolios in the world.
“When we started our work as RH Capital in 2019, “women’s health” was a nascent category. Over the past several years, as we built one of the largest dedicated portfolios in women’s health, we have seen the field blossom.
Today, the ecosystem has grown exponentially and women’s health is starting to be recognized as a significant investment opportunity. Our new firm—Foreground Capital—reflects that change.
Launched in 2024, the Foreground team continues to manage legacy funds RH Capital Fund I and II. We’re the same dedicated team, now positioned to lead in a new era.”
Our Investment Strategy
We invest in companies addressing conditions that affect women directly, such as reproductive, maternal, and hormonal health; as well as conditions that disproportionately and differently impact women.
We invest broadly across health segments, including biopharma, devices, diagnostics, digital health, tech-enabled services, and consumer health. We don’t shy away from regulated areas of women’s health—we embrace complexity because we have the expertise to do so and because meaningful innovation isn’t easy.
We know it’s possible to make care more equitable and also deliver meaningful financial returns.
Curious how we drive innovation?
We prioritize companies creating groundbreaking innovations in women’s health. Whether through drug discovery, novel diagnostics, precision medicine or AI, we seek investments that have the potential to redefine the standard of care in treatments and diagnostics, often with first-in-class solutions.
Care must be accessible in order to be effective. We seek to expand access—particularly for historically marginalized populations— to critical components of care such as medications, testing, treatment, and monitoring.
Addressing cost barriers is central to our mission. We support companies developing solutions that enhance affordability (e.g. insurance reimbursement, low-cost offerings, significant cost reductions in care) without sacrificing quality, empowering more women to obtain the healthcare they need.
Our investments are geared toward creating lasting changes in healthcare delivery, with particular emphasis on gender and racial biases. We focus on companies whose innovations can shift paradigms or create structural improvements to reduce these biases (e.g. culturally intentional care, diverse clinical trial populations).
Ready to Make an Impact?
Foreground Capital has built one of the world’s largest dedicated women’s health portfolio investing in early-stage companies that make care more accessible, affordable, and equitable.
Copyright© 2024 FOREGROUND CAPITAL, All rights reserved | Privacy Policy
Alice Zheng, MD
Partner
Alice Zheng has been a women’s health enthusiast throughout her career spanning global health, clinical medicine, and the private sector. She is currently a Co-founder and Partner at Foreground Capital. Previously, she was a Principal at Foreground’s precursor funds at RH Capital. At Foreground Capital, she continues to manage RH Capital funds and serves as a board director for Seven Starling and Millie and as a board observer for AOA and Eli Health.
Previously, Alice was a women’s health practice leader and management consultant at McKinsey & Company, where she published foundational research on women’s health. Earlier in her career, she trained as a physician with a focus on women’s health and worked in global public health in East Africa and Asia. She has also been a patient in many women’s health areas including infertility, abortion, and difficult pregnancies.
Alice holds an MBA from Harvard Business School and MD/MPH from the University of Michigan, where she was a Dean’s Merit Scholar. Her profile has been featured in Business Insider, 30 under 40 Healthcare, Michigan Medicine and more. She holds advising and mentoring roles with multiple women’s health accelerators and forums, including co-chair of the NYSE Women’s Health Summit, which was headlined by First Lady Dr. Jill Biden in 2024.
Why women’s health?
“I’ve always been drawn to underserved women’s issues, from performing in the Vagina Monologues three times in college to working in rural African villages without running water or electricity to prevent and treat obstetric fistulas. I am now a mother of two and have been a patient myself in many women’s health areas I once aspired to specialize in. It is a long-standing personal and professional passion of mine to improve lives of women around the world.”
Stasia Obremskey
Managing Partner
Stasia Obremskey has been investing in women for her entire career, believing that the two most impactful things you can do for the world are to educate women and give them tools to manage their fertility. She is currently a Co-founder and Managing Partner at Foreground Capital. Stasia co-founded and led Foreground’s precursor funds at RH Capital. At Foreground Capital, she continues to manage RH Capital funds and serves as a board director for Cadence OTC and as a board observer for Vitra Labs, Contraline, Eli Health and YourChoice Therapeutics.
Previously, Stasia worked with healthcare organizations in the US and Asia, where she joined management teams as the Chief Financial Officer to provide finance, accounting, and strategic planning expertise to startups, fast-growing companies, and non-profit organizations. She began her career in management consulting with Bain & Company and investment banking with Morgan Stanley & Co.
She holds an MBA from Harvard Business School and holds a bachelor’s degree in Business Administration with a concentration in finance from the University of Notre Dame. In addition to her consulting work, she has extensive experience as a member of several nonprofit boards.
Why women’s health?
“While women make up 50% of the population, they birth 100% of the population and yet their unique healthcare needs have been historically overlooked. I’m passionate about finding innovations to reverse this trend and address the many areas in women’s health still looking for improved and new solutions.”
Elizabeth Bailey
Managing Partner
Elizabeth Bailey has over 20 years of experience in venture capital and supporting early-stage healthcare companies. She is currently a Co-founder and Managing Partner at Foreground Capital. Elizabeth co-founded and led Foreground’s precursor funds at RH Capital. At Foreground Capital, she continues to manage RH Capital funds and serves as a board director for Raydiant Oximetry and Testmate Health, and as a board observer for Bloomlife, Cayaba, Mae and Twentyeight Health.
Elizabeth was previously a Partner at Commons Capital, one of the first impact investment funds, where she managed the healthcare portfolio, including Claros Diagnostics (acquired by OPKO), CodeRyte (acquired by 3M), HistoRx (acquired by Genoptix), Medical Metrx Solutions (acquired by AIG) and TelaDoc (IPO: TDOC).
She holds a Masters in Public Policy from Harvard Kennedy School and a BA from Brown University. Throughout her career, Elizabeth has been a strong advocate of the power of business to drive social change. In 2023, she was named a Trailblazing Leader in Women’s Health, and in 2024 Elizabeth received the inaugural FemForce Vanguard Award for her leadership in women’s health.
Why women’s health?
I think Maya Angelou said it best, “I’m interested in women’s health because I’m a woman. I’d be a darn fool not to be on my own side.”
