Transformation Capital
SEC exempt reporting adviser (venture capital exemption).
- Website
- https://www.transformcap.com
- HQ
- MA
Transformation Capital is a venture firm focused on digital health, based on the view that digital health is the future of health. Its team includes investment, partner acceleration, and operations professionals. Portfolio companies include Groups Recover Together, which offers opiate addiction treatment focused on rural communities, Grow Therapy, an online therapy platform for insurance-covered care, and Sword Health, which offers virtual physical therapy.
01 · Says / Does
| Tag | Says | Does | Historically (to 2020) |
|---|---|---|---|
| Stages | Not stated | Not enough dated deals | Growth |
| Sectors | Healthtech, Digital health | Not enough dated deals | Digital health, Healthtech |
| Regions | Not stated | Not enough dated deals | None |
Says: what the firm's funds state. Does: from 0 dated deals in the last 24 months.
Historical focus (through 2020), derived from historical deal data.
| Year | Deals | Top sectors |
|---|---|---|
| 2020 | 4 | Digital health, Healthtech, Biotech |
02 · Fund history
| Fund | Year | Size | Status |
|---|---|---|---|
| Transformation Capital Partners III-CPRX, L.P. | approx. 2025 | Not reported | Raising |
| Transformation Capital Fund IV-A, L.P. | approx. 2025 | Not reported | Raising |
| Transformation Capital Fund IV, L.P. | approx. 2025 | Not reported | Raising |
| Transformation Capital Partners I-DV, L.P. | approx. 2023 | Not reported | Open, writing first checks |
| Transformation Capital Partners I-A, L.P. Transformation Capital backs digital health and healthcare companies that make healthcare more efficient, accessible, and accountable. Its partner companies include virtual physical therapy, online therapy, and rural addiction treatment providers. Inferred from the firm's website and portfolio companies | 2022 | $19.2M (Form D) | Late investment period |
| Transformation Capital Fund III-A, L.P. Transformation Capital backs digital health and healthcare companies that make healthcare more efficient, accessible, and accountable. Its partner companies include virtual physical therapy, online therapy, and rural addiction treatment providers. Inferred from the firm's website and portfolio companies | approx. 2022 | $800M (Form D) | Late investment period |
| Transformation Capital Fund III, L.P. Transformation Capital backs digital health and healthcare companies that make healthcare more efficient, accessible, and accountable. Its partner companies include virtual physical therapy, online therapy, and rural addiction treatment providers. Inferred from the firm's website and portfolio companies | approx. 2022 | $800M (Form D) | Late investment period |
| Transformation Capital Fund II, L.P. | 2019 | $500M to $667.7M (Form D and SEC adviser filing) | Follow-ons only |
03 · People across funds
- Jared Kesselheim, Manager of the GP LLC.
Transformation Capital Partners III-CPRX, L.P. (Named on Form D); Transformation Capital Fund IV-A, L.P. (Named on Form D); Transformation Capital Fund IV, L.P. (Named on Form D); Transformation Capital Partners I-A, L.P. (Named on Form D); Transformation Capital Fund III-A, L.P. (Named on Form D); Transformation Capital Fund III, L.P. (Named on Form D); Transformation Capital Fund II, L.P. (Named on Form D)
- Michael Dixon, Manager of the GP LLC.
Transformation Capital Partners III-CPRX, L.P. (Named on Form D); Transformation Capital Fund IV-A, L.P. (Named on Form D); Transformation Capital Fund IV, L.P. (Named on Form D); Transformation Capital Partners I-A, L.P. (Named on Form D); Transformation Capital Fund III-A, L.P. (Named on Form D); Transformation Capital Fund III, L.P. (Named on Form D); Transformation Capital Fund II, L.P. (Named on Form D)
- Todd Cozzens, Manager of the GP LLC.
Transformation Capital Partners III-CPRX, L.P. (Named on Form D); Transformation Capital Fund IV-A, L.P. (Named on Form D); Transformation Capital Fund IV, L.P. (Named on Form D); Transformation Capital Partners I-A, L.P. (Named on Form D); Transformation Capital Fund III-A, L.P. (Named on Form D); Transformation Capital Fund III, L.P. (Named on Form D); Transformation Capital Fund II, L.P. (Named on Form D)
- Akanksha Mehta
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Akhi Samant
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Amy Slizofski
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Ashley Kurpinsky
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Bhooshi de Silva
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Brendan Kish
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Briana Blake
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Christine Murphy
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Jared Kesselheim, M.D.
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Jenna Ciotti
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Jessica Pellegrini
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Julie Murchinson
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Karen Saldana
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Kevin Brown
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Laurel Smith
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Layla Behrouzian
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Mike Dixon
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Nick Briguglio
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Nicole Bleecker
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Raphael Cervantez
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Robin Borg
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Robin Mercer
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Scott Rosen
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Tanya Wesley
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
- Vinay Shah
Transformation Capital Partners I-A, L.P. (Team); Transformation Capital Fund III-A, L.P. (Team); Transformation Capital Fund III, L.P. (Team); Transformation Capital Fund II, L.P. (Team)
04 · Recent deals
No dated deals found yet.
05 · Latest from the firm
No news from the firm's website yet.
06 · Sources
- https://www.transformcap.com
- https://transformcap.com/connect
- https://transformcap.com/people
- https://transformcap.com/
- https://transformcap.com/partner-companies/sword-health
- https://transformcap.com/partner-companies/groups
- https://transformcap.com/partner-companies/grow-therapy
Fund dates and sizes are from SEC Form D filings.
Last verified: Oct 28, 2026