Capita3 H1 2026: A lot of quiet compounding, and a few loud wins.
H1 2026PORTFOLIO UPDATE
TRENDSBUILT TO LAST
As summer comes to an end, we took a look back at the first half of 2026 and wanted to share what stood out.
Two storylines defined H1 2026 in health tech.
TREND 1 · BIG TECH GOES ALL IN ON CLINICAL AI
Microsoft launched Copilot Health. OpenAI rolled out ChatGPT Health with longitudinal medical memory, and Anthropic unveiled Claude for Healthcare the same week. Google relaunched Fitbit as Google Health with a Gemini-powered AI coach, and Amazon expanded its health chatbot beyond One Medical customers. Five of the biggest names in AI entered clinical health within months of each other.
TREND 2 · WOMEN'S HEALTH GOES MAINSTREAM
AI-personalized women's health startups are now valued at roughly 3x their non-AI peers, and the category is expanding beyond reproductive care into a broader lens on women's health.
CAPITA3 FUND II BY THE NUMBERS
FINANCING & GRADUATION
94%
Portfolio Graduation Rate
$80M+
New Capital Raised, H1
5
Companies Raised in H1
OUTCOMES
92%
Blended Q2 Revenue Growth (YoY)
40+
New Customer & Partnership Wins
27 States
+ D.C. Reimbursing Doula Care
Both storylines showed up directly in our portfolio. FlyteHealth's own care model reflects Trend 1 directly: AI-enabled clinical infrastructure built specifically around cardiometabolic care. b.well didn't get disrupted by the AI wave, it became the infrastructure OpenAI and Humana built on top of. MDisrupt became the layer keeping AI health claims honest with real clinical experts, not just model output. And Joylux and Gabbi sit squarely in the women's health category the broader market is now catching up to.
A related thread worth naming: Carallel, Backpack, Marani, Persephone, Zerigo, and NextSense all sit in family and personal health: caregiving, pediatric and maternal care and other household health decisions that women disproportionately manage and drive. It's the same force driving women's health going mainstream, just a layer beyond the clinic.
We didn't chase either trend this half. We were already there. That's the kind of fund performance we care about most: not being early to a headline, but early enough that the headline eventually catches up to what we'd already backed.
As one example, earlier this year OpenAI's VP of health products, Ashley Alexander, said: "By working with trusted brands like b.well, we're able to make the user experience even more useful and personalized." b.well earned that trust before anyone was calling Health AI a trend.
If these trends hold, H2 should bring more attention and more capital aimed at what our portfolio has already built.
$55M Series B, closed July. Led by Treehouse Family Capital, with Daikin America, Veralto, Bush Foundation, Nord Asset Management, and Saint Paul & Minnesota Foundation.
Two field wins set it up: 99.99% PFAS destruction with Daikin America (Dec 2025), then a groundwater remediation demo processing ~1M gallons (Apr 2026). The World Economic Forum named PFAS destruction a Top 10 Emerging Technologies of 2026, citing Claros by name.
Claros is done proving the tech works. Now it's building at scale.
FlyteHealth · Cardiometabolic Care & GLP-1 Support
Reached Medicare, five years after we first called the thesis.
The results so far: 16.6% average weight loss at 12 months, 88%/76% GLP-1 adherence at 12/18 months, ~$100 PMPM in medical cost savings, and an NPS of 75. FlyteHealth's partnership with the State of Connecticut has now been independently evaluated three separate times by Milliman.
Watch for a full spotlight on Flyte Health coming shortly.
Persephone Biosciences · Infant Microbiome Health
Launched on Amazon in June. Published the largest U.S. clinical trial of its kind in August.
The trial, in Pediatric Research (a Nature-affiliated journal), confirmed the formulation is safe and successfully colonizes the gut with beneficial Bifidobacterium strains.
As CEO Stephanie Culler puts it: "We didn't start with a product and look for proof. We started with the largest trial of its kind, and the product followed."
Joylux · Intimate Wellness & Menopause Care
New product launch: reliefHER (April).
Also published a real-world data report on 23,000+ women, reframing menopause as a network condition rather than one symptom at a time. vFit PLUS keeps racking up press, including Oprah Daily.
Marani Health · Maternal Health & Remote Monitoring
The first half included significant work on Marani's proprietary wearable for maternal monitoring, and the Company will share exciting news on capabilities for expanding their footprint into home based prenatal care.
The team also submitted numerous submissions to the $50B Rural Health Transformation Program with key partners across the US. Results from these submissions will be rolling in over the coming months.
UViiVE · New to Fund II
UViiVE joined the Fund II portfolio in the first half of 2026. The Company is moving at record pace with their AI drug discovery and development platform and recently published some of their key findings. Please look for updates on the company in an upcoming newsletter.
These stories ran previously — worth a look if you missed them:
