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Klick Ventures
Leerom Segal and Aaron Goldstein founded Klick Health in Toronto in 1997, building it into the largest independent commercialization partner for life...
Klick Ventures
Leerom Segal and Aaron Goldstein founded Klick Health in Toronto in 1997, building it into the largest independent commercialization partner for life sciences without any external funding. By 2014, the firm began formalizing its investment activity under Klick Ventures, using the parent company's balance sheet to back startups at the intersection of health, data, and behavioral science. The founding team still owns 100% of Klick Health and runs both the agency and the venture arm from Toronto. Klick Ventures targets early-stage companies developing AI/ML applications for drug commercialization, clinical decision support, and patient engagement. The firm invests directly from Klick Health's operating cash flow, writing equity checks into pre-seed and seed rounds where the parent company's domain expertise and data sets give the portfolio an edge. Its geographic focus is concentrated in North American innovation hubs, including Toronto-Waterloo, New York, and San Francisco. Portfolio companies gain access to Klick Health's proprietary data platforms and its relationships across the top 30 global pharma companies. Klick Health operates offices in Toronto, New York, Philadelphia, and Chicago, with a global headcount exceeding 2,000 as of 2024 (per the firm's official communications). The venture arm functions as a lean team embedded within Klick Health's innovation lab — Klick Labs — which also houses the firm's applied AI research group. There is no separate vehicle, fund structure, or co-investor club; allocation is discretionary from the parent's own treasury. In September 2023, Klick Labs published peer-reviewed research in Mayo Clinic Proceedings demonstrating an AI model that detected Type 2 diabetes from short voice recordings, signaling the firm's deepening scientific ambitions. Klick Ventures operates with no external LPs, no fundraising cycle, and no mandated deployment pace — a structural advantage derived from the parent company's profitability. The investment cadence follows the conviction cycle of the founders and the alignment between a startup's technology and Klick Health's commercial engines, creating a capital vehicle that behaves more like a founder-led holding company than a conventional venture fund.
General information
Firm type
Venture Capital
Year founded
2014
AUM
Undisclosed
Location
Region
North America
Country
Canada
City
Toronto
Corporate office
Toronto, ON, Canada
Principals
Leerom Segal
Co-Founder & CEO, Klick Health
Aaron Goldstein
Co-Founder & COO, Klick Health
Sector focus
Frequently asked questions
How does Klick Ventures relate to Klick Health, and who owns the venture arm?
Klick Ventures is the strategic venture investment function of Klick Health, a private life sciences commercialization agency. Leerom Segal and Aaron Goldstein, who co-founded Klick Health in 1997, retain 100% ownership of the parent company and oversee the venture arm. There is no separate legal entity or external investor.
What types of startups does Klick Ventures invest in?
Klick Ventures invests in early-stage companies applying AI, machine learning, and behavioral science to drug commercialization, patient engagement, and clinical decision support. The firm has a particular focus on technologies that can leverage Klick Health's own data sets and commercial relationships with large pharma.
Does Klick Ventures raise external capital or operate a fund structure?
No. Klick Ventures deploys capital directly from Klick Health's balance sheet. There is no separate fund, limited partner base, or fundraising cycle — investments are discretionary allocations from the parent company's operating cash flow.
What is Klick Ventures' geographic focus?
Klick Ventures primarily invests in startups based in North American innovation hubs, with a home-market advantage in the Toronto-Waterloo corridor. The firm also sources deals in New York and San Francisco, leveraging Klick Health's broader office presence.
How does Klick Ventures provide value beyond capital to its portfolio companies?
Portfolio companies gain access to Klick Health's proprietary data platforms, applied AI research group (Klick Labs), and commercial relationships with over 30 global pharmaceutical companies. The parent agency's expertise in drug commercialization and patient behavior can serve as a strategic distribution advantage for health-tech startups.
Who makes investment decisions at Klick Ventures?
Investment decisions are driven by Klick Health's co-founders, Leerom Segal and Aaron Goldstein, in close coordination with the Klick Labs innovation team. The venture arm does not employ a standalone investment committee structure separate from the parent company's executive leadership.
Does Klick Ventures participate in later-stage rounds or only seed investments?
The firm's primary mandate is pre-seed and seed-stage investments where domain expertise provides the clearest advantage. Klick Ventures may follow on in select subsequent rounds when the parent company has a deepening commercial relationship with the portfolio company, but it does not operate a dedicated follow-on reserve.
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