OTV, previously recognized as Olive Tree Ventures, a venture capital company based in Israel specializing in digital health technologies, has announced the successful completion of a new investment fund worth $170 million. Simultaneously, the company has established a new operational hub in Shanghai, China, to drive expansion throughout the Asia Pacific area.

Currently, OTV’s investment portfolio comprises 11 distinct companies. In the past year, the firm took the lead in funding rounds for telehealth services TytoCare and Lemonaid Health. Additional investments include Emedgene, a platform utilizing machine learning in genomics; Scopio, a company developing advanced microscopy imaging; and Donisi Health, which produces at-home cardiac and pulmonary monitoring devices. OTV is increasingly focusing on Series B and C funding rounds, aiming to assist companies with established products in navigating regulatory challenges and other complexities associated with growth.

OTV’s investment strategy centers on digital health solutions with the capability to function across multiple nations, reduce healthcare costs, and address deficiencies within strained healthcare systems.

Jose Antonio Urrutia Rivas will assume the role of OTV’s Asia Pacific regional director, overseeing the Shanghai office and supporting the firm’s portfolio companies as they broaden their reach into China and other nations in Asia. This expansion increases OTV’s global presence to four offices, joining existing locations in New York, Tel Aviv, and Montreal. Prior to his appointment with OTV, Rivas served as the Asian market director at the financial institution LarrainVial.

Founded in 2015 by general partners Mayer Gniwisch, Amir Lahat, and Alejandro Weinstein, OTV benefits from the expertise of partner Manor Zemer. Zemer, with over 15 years of experience in Asian markets – including the last five years residing in Beijing – explained to TechCrunch that the firm determined the timing was optimal for Asian expansion because “digital health is already significantly advanced in numerous Asia-Pacific countries, where these technologies work alongside traditional healthcare providers, making the region ideally suited for a venture capital firm focused on this sector.”

He further stated that OTV “aims to leverage the increased awareness of the interconnectedness of global healthcare infrastructures brought about by the COVID-19 pandemic, although digital health was already experiencing substantial growth prior to the pandemic.”