Define Ventures Welcomes Frank Williams as Venture Partner

We’re excited to announce healthcare veteran Frank Williams is joining Define Ventures as a venture partner. Frank has an unmatched track record in this industry, both as an incredible leader and extraordinary operator. During his tenure at Evolent as co-founder, CEO, and later chairman, the company completed an IPO, grew to more than $1 billion in annualized revenue, and served over 15 million patients.

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Outside of his impressive resume, he shares the same mindset in our commitment to be more than investors with our partner companies. He has coached, mentored, and advised so many entrepreneurs throughout his career and know they deserve true partnership.

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We sat down with Frank to unpack what attracted him to Define Ventures and why he’s excited to work closely with our partner companies:

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You’ve seen healthcare through several lenses — founder, CEO, board member, advisor, now venture partner. How has that shaped your overall perspective on the industry?

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Having been in healthcare for such a long time, I understand how physicians, health systems and payers work, including what motivates them and what kind of opportunities appeal to them. As someone who has sat on multiple sides of the table, I can serve as an effective bridge in understanding what operators are going through, as well as how investors will view that same challenge or opportunity. My goal is to help translate, bring people together, and identify solutions that work for everyone.

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Having worked in a number of high-growth companies, I also understand the few elements that can really unlock momentum and value. Being able to understand what those are to founders and investors can be very helpful, especially in a world that is highly complex and moving rapidly.

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What drew you to joining Define Ventures at this point in your journey?

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I enjoy spending time with exceptionally bright, values-driven people that are focused on making a positive impact in healthcare. I’ve been really impressed with the Define team and who they’ve chosen to partner with. These companies have strong founders with compelling visions, along with tremendous potential to drive innovation in healthcare. There are so many things you need to get right when building a company and Define Ventures is in the unique position of truly being able to help founders build extraordinary companies.

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What does our value “Defining Healthcare” mean to you?

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There are countless examples of what we can do better in healthcare. Whether it’s engaging patients more effectively to manage their health, addressing long standing health equity challenges, or ensuring providers are getting the support they need to manage increasing administrative and clinical complexity. It’s clear we need to deliver better outcomes. The idea that we can collectively identify innovations that are addressing current gaps is incredibly exciting and motivating. What bigger impact could you possibly have?

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Of course, healthcare is incredibly complex, which makes disrupting the industry incredibly challenging. Those that cultivate the relationships they need while diving deep into the problem they’re trying to solve are ultimately going to be the ones that win..

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There are so many things you need to get right when building a company and Define Ventures is in a unique position to truly help founders get there — thanks to their vision and experience, and just as importantly their drive.

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What does our value “Defining Partnership” mean to you?

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Partnership is about the notion of shared responsibility and really working collaboratively for the best outcome for the company, as well as the constituents they serve. Partnering is very easy when things are going well, but what about when things get tough? Is your partner still as collaborative, and working to solve problems or do they have one foot in and one foot out? A great partner is just as committed and aligned in the difficult times as they are in the good times.

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What does our value “Defining Leadership” mean to you?

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At the core of every great leader is a compelling vision with strong values. It’s a willingness to leap forward and create strong environments for their team to not only perform but to thrive, all the while balancing the needs of multiple constituencies. Leaders who want to build a truly great organization need to be committed and relentless in bringing their vision to life.

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What types of digital health companies are currently standing out to you?

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Looking back over the last decade, including at the start of Evolent, there was a lot of conversation around value based care. Ten years later, there’s still a lot of noise, which is why I’m drawn towards companies that are truly adding value in this environment. There’s a significant opportunity to address better outcomes at lower costs. One clear example is Centivo, which is driving 30 percent lower costs for employers while ensuring 95 percent of their members have a designated primary care provider.

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I’m also interested in companies that significantly help with navigation across the healthcare system. If you or someone in your family is experiencing a serious medical issue, you know first-hand how challenging the process can be when you don’t have someone truly quarterbacking your care. Tia and Blackbird are two examples where they provide a holistic diagnostic process up front so you can get a 360 degree view of your condition as well as the appropriate level of support in navigating the appropriate treatment pathway..

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Frank has been a trusted partner to the Define team as well as our community for quite some time, and we’re thrilled to officially welcome to the team.