Springbank Collective Research
Investment Thesis
Springbank Collective is a women-led venture capital firm based in New York that invests in mission-critical infrastructure powering how we work, live, and care. The firm explicitly addresses long-overlooked needs of women and working families, framing this as a $1 trillion opportunity and a generational economic growth driver. Springbank was founded by three operating partners with deep experience in finance, public policy, consumer/retail sectors, and operations—bringing a unique blend of operational expertise to early-stage companies.
The firm believes that many of the economy's most essential systems have been dismissed as too complex or too human to solve. However, advances in technology and AI, combined with urgent societal needs, have created a transformational opportunity to rebuild this infrastructure. Springbank positions this as key to U.S. prosperity and growth for the next generation.
Core Investment Focus Areas
Springbank invests across three interconnected pillar themes:
1. Work (Future of Work & Career)
Reimagining productivity, worker support, and economic empowerment:
- AI-powered workplace tools and automation
- Training and job readiness platforms (especially for underrepresented groups)
- Career development and professional networks
- Employee benefits and workplace wellbeing
- Neurodiversity and inclusive hiring solutions
2. Live (Housing, Finance & Community)
Transforming consumer experiences and underlying infrastructure:
- Housing affordability and property technology
- Consumer financial tools and fintech
- Community engagement and civic technology
- Food security and nutrition systems
- Gender-affirming healthcare and sexual wellness
3. Care (Healthcare & Family Support)
Building platforms treating care as essential infrastructure:
- Digital health and telehealth platforms
- Senior care and aging-in-place solutions
- Parental support and family caregiving
- Fertility, maternal, and pediatric health
- Mental health and wellness services
- Addiction recovery platforms
Stage Focus & Check Sizes
Springbank is a pre-seed and seed-stage investor:
- Pre-Seed: Typically $250K-$500K for early-stage validation and prototype development
- Seed: $500K-$2M for teams with early traction and initial customer validation
- Occasional Series A: Follow-on investments in existing portfolio companies demonstrating strong product-market fit
Typical Check Size Range: $500K-$1.5M across the fund's portfolio
The firm leads and co-leads rounds in their focus areas, providing not just capital but also operational support, network access, and strategic guidance.
Fund Details
Fund History:
- Original Springbank syndicate established in 2019 as a community investor collective
- Fund I (announced June 2023): $35-40M raised
- Current AUM: Estimated $40-75M across all vehicles
- Status: Actively deploying capital with selective new investments
Investors: Backed by Union Square Ventures, impact investors, family offices, and the original Springbank Collective member network. Over 25 limited partners with diverse backgrounds in policy, operations, and social entrepreneurship.
Team & Operating Partners
The firm's leadership combines deep operating experience with investment expertise:
Courtney Leimkuhler (Co-Founder, Managing Partner)
- Former CFO of Marsh & McLennan (35,000+ employees globally)
- 10+ years at New York Stock Exchange (pre-IPO through sale), led M&A and Corporate Strategy
- Goldman Sachs background in finance
- Harvard College and Harvard Business School graduate
- Deep expertise in financial services, corporate strategy, and scaling operations
Elana Berkowitz (Founding Partner)
- Obama Administration technology policy official (FCC, State Department)
- Worked on Obama-Biden Transition Team
- Innovator-in-residence at CARE (humanitarian organization)
- McKinsey consultant (technology, media, telecom across 10 countries)
- Strategic advisor to Etsy, Kickstarter, Google, Code for America
- Expertise in policy, social innovation, and scaling impact
Jen Lee Koss (Founding Partner)
- Founded BRIKA (experiential retail agency, acquired 2021)
- 15+ years in consumer and retail sectors
- Management consulting at Parthenon Group and Bridgespan Group
- Investment banking and private equity (Ontario Teachers' Pension Plan)
- Harvard Business School MBA, Oxford MPhil, Harvard A.B. (magna cum laude)
- Deep consumer market expertise and operational scaling
Brian Nguyễn (Investor)
- Led product at Unite Us (social care coordination platform)
- Worked with Kaiser Permanente and CVS Health on statewide initiatives
- Genetics and healthcare product experience (Helix, collaborations with Mayo Clinic and Mount Sinai)
- UC Berkeley degree (cognitive science and computer science)
- Domain expertise in healthcare operations and care coordination
Recent Investment Activity
2024-2025 Notable Investments:
- Shotsy (Feb 2025): $2.25M seed for GLP-1 medication tracking platform
- Brisk Teaching: Series A investment for AI-powered teaching platform
- Chief (Series A): Leadership network for women executives
- Mathison (Series A): Career development and job marketplace platform
- Guaranteed (Seed): Digital banking for teens
- Promise (Series A): Fintech payments platform
- Soona (Series B): On-demand content creation platform
- Recover (Seed): Addiction recovery telemedicine
- Carefull (Seed): Financial tools for family caregivers
Portfolio Size: 45+ companies invested across all stages
Fund Status: Actively deploying, with steady new investments (5+ new investments in last 12 months)
Portfolio Company Sectors
The portfolio spans:
- Healthtech (25%): Mental health, telehealth, aging care, fertility, pediatric care
- Care Infrastructure (20%): Family caregiving, senior support, hospice, food-as-medicine
- Future of Work (20%): Job platforms, training, employee benefits, neurodiversity support
- Fintech & Consumer (25%): Financial tools, consumer apps, digital banking
- Career & Skills (10%): Training, professional development, career navigation
Investment Approach & Decision Process
Decision Process: Partnership-based with consensus among founding partners
- Decision Timeline: 2-4 weeks from initial conversation to term sheet
- Lead vs. Follow: Leads rounds in focus areas; follows in adjacent sectors
- Warm Introductions: Not required but preferred
- Board Involvement: Observer seats and active advising in early-stage companies
Founder Preferences:
- Founders solving real problems affecting women and working families
- Mission-driven founders with deep domain expertise
- Technical co-founders (especially for healthcare and fintech)
- Diverse founding teams reflecting communities they serve
- Willingness to leverage Springbank's policy and operations network
Geographic Focus
Primary: United States, with heavy concentration in:
- New York/Northeast (headquarters advantage)
- San Francisco Bay Area (tech ecosystem)
- Secondary cities (Austin, Los Angeles, Chicago)
International: Selective investments in Canada and UK for adjacent sectors
Key Characteristics
Lead Tendency: Leads in core focus areas (Care, Work, Live); willing to co-lead or follow in adjacent spaces
Typical Involvement:
- Board observer seats in seed investments
- Active advisory role leveraging partner expertise
- Direct introductions to corporate partners (Kaiser, CVS, etc.)
- Policy and regulatory guidance (unique to Elana's background)
- Operations scaling support (Courtney's Fortune 500 experience)
- Consumer and retail expertise (Jen's background)
Anti-Thesis:
- Pure software/SaaS without mission relevance
- Consumer apps not addressing systemic needs
- Hardware-heavy businesses without care applications
- For-profit companies extracting value from vulnerable populations
- Cryptocurrency or pure financial speculation
Notable Exits & Portfolio Success
While the fund is young (raised Fund I in 2023), early portfolio companies are gaining significant traction:
- Multiple companies in Series B/C funding (Wellthy, Soona, Chief)
- Strong acquisition interest from large healthcare players (Kaiser, CVS network)
- Policy partnerships enabling regulatory pathways
- Notable co-investors: Insight Partners, Bessemer Venture Partners, Owl Ventures, South Park Commons
Founder Access & Engagement
Contact: hello@springbank.vc Application Process: Direct outreach or warm introduction preferred Response Time: 1-2 weeks for review, 2-4 weeks to decision Document Requirements: Pitch deck, traction metrics, team background
Industry Recognition
- Ranked among "15 Best Healthcare VC Firms" (Rho, 2025)
- ImpactAssets 50 list for impact-driven investing
- Featured in Women in VC and female founder ecosystems
- Advisory roles in policy and healthcare innovation (team members advise government agencies)
Key Insights for Founders
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Mission Alignment Is Critical: Springbank invests in founders solving real problems for underserved populations. Founders must demonstrate genuine commitment to impact alongside financial returns.
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Operational Expertise Matters: The founding team brings Fortune 500 operations, policy expertise, and consumer market knowledge. Companies that leverage this are most successful.
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Regulatory Tailwinds: With Elana's policy background, the fund is uniquely positioned to help navigate regulatory challenges (especially in healthcare, fintech, and workforce).
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Network Access: Investors get access to the 100+ member Springbank Collective network plus corporate partnerships (Kaiser, CVS, etc.).
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Patient Capital: The fund takes a long-term view on companies addressing systemic problems. Quick exits are not the priority.
Summary
Springbank Collective represents a new generation of VC focused on solving real societal challenges affecting women and working families. With deep operating expertise, policy connections, and a values-driven approach, the firm is uniquely positioned to support ambitious founders building infrastructure in healthcare, work, housing, and family support. The $35-40M fund is actively deploying with a focus on pre-seed and seed investments, typical checks of $500K-$1.5M, and a preference for founders with operational track records and genuine commitment to their mission.