Life sciences investor HLM adds healthcare vet Tolle as partner

HLM Venture Partners, which is in registration to raise its fifth fund, announced in late September that it has named Steve Tolle as its newest partner.

The firm invests in healthcare tech, tech-enabled healthcare services and medical device and diagnostic companies. Portfolio companies include Phreesia, AbleTo, Teladoc and RubiconMD.

Tolle joined the Boston-based firm in the summer and had served as an advisor to HLM since April 2018, according to his LinkedIn profile.

Prior to HLM, Tolle was with the medical imaging company Merge Healthcare, where he was chief strategy officer. IBM acquired Merge in 2015; after managing that sale, Tolle was named vice president of global strategy and business development at Watson Health Imaging within IBM.

Demographic, technological and policy-driven changes are transforming healthcare, and investors are backing more AI-driven healthcare companies. HLM Partner Peter Grua noted that Tolle has a background in artificial intelligence, medical imaging and molecular diagnostics.

Tolle becomes the fifth partner at HLM, joining Grua, Ed Cahill, Vin Fabiani and Enrico Picozza.

Tolle joins the firm as it is seeking to raise $125 million for its fifth fund, according to a regulatory filing. The Boston-based venture firm invests in healthcare.