Felicis Ventures

Felicis Ventures is a multi-stage Bay Area venture firm with a long track record of high-profile early-stage bets across consumer, enterprise, and frontier technology, including selective healthcare AI exposure through portfolio companies in clinical AI, life sciences tools, and digital health. The firm operates across seed through growth, with fund sizes large enough to lead at Series A and B and follow on through later rounds. For healthcare AI founders, Felicis is a credible generalist with healthcare comfort, not a healthcare specialist; access is high-bar but not gated by sub-vertical thesis. Plausible check sizes range from 500K to 5M at seed, 5M to 20M at Series A, and larger growth checks selectively. The firm leads or co-leads at all stages and has the brand to attract co-investors. Founders building defensible AI products with clear technical edge, large markets, and category-defining ambition should approach: clinical decision support, foundation models for biology, drug discovery platforms, or healthcare data infrastructure with software economics are all in scope. Founders building me-too telehealth, lifestyle wellness apps, or services-heavy businesses without strong technology defensibility will struggle to clear the bar. Entry path is warm introduction through portfolio founders or coastal operator networks; the firm reads cold inbound but the signal-to-noise ratio is brutal. The diligence will be sharp on team, market structure, and technical defensibility. Expect Felicis to push hard on whether AI is actually the moat or just a feature; if you cannot defend that, do not take the meeting yet.