Revelation Capital Management

The firm runs a paired strategy: first it buys existing shares from early investors or funds seeking liquidity, then it often leads or participates in the company's next primary funding round. This gives Revelation both secondary exposure at a discount to the latest round and growth exposure to the new capital, aligning its returns with the company's inflection point.

The firm does not publicly disclose its SEC or state regulatory status. Its website suggests it operates as a private investment partnership, with no visible marketing of advisory services to outside clients.

The firm does not publicly disclose check sizes. Its deal profile suggests flexibility spanning small early-employee liquidity purchases up to a $30 million Series F lead, implying a wide band calibrated to the secondary block being traded and the company's next funding need.

No. The firm's public materials—including its website, portfolio, and stated focus—are exclusively healthcare. It targets companies and funds across healthcare services, therapeutics, diagnostics, and digital health.

The firm's model suggests flow comes from venture GPs who need to manage limited partner or portfolio company liquidity events. It frames itself as a partner to GPs for restructuring and tender offers, and as a direct counterparty to founders, employees, and corporate venture arms holding illiquid healthcare positions.

The firm does not disclose its fee structure. In the secondary market, firms typically structure deals without traditional management fees, but Revelation's website does not provide enough detail to confirm its specific economics on either secondary transactions or growth equity commitments.

The firm's website lists Fred Lee and Doug Fisher as partners. No chief investment officer or investment committee structure is disclosed, though the two partners are the only named investment leads and appear to operate as the key decision-makers.