Established within Ascension Health in 2001, AHV is a strategic healthcare venture fund focused on the medical device, technology and service sectors with $325 million under management. Ascension Health is the nation's largest Catholic and largest nonprofit health system serving patients through a network of hospitals and health facilities in 20 states and the District of Columbia. The fund has a commitment of $125 million to invest in expansion to late-stage healthcare companies. The firm invests approximately $5 million per round and up to $10 million per company. In 2007, AHV closed a second fund, CHV II, LP with $200 million in commitments from Ascension Health, Catholic Health Initiatives and Catholic Health East. CHV II will continue the investment strategy that AHV employed in its first fund, targeting expansion to later stage medical device, healthcare technology, and healthcare service companies in areas of interest to the limited partners. A portion of the fund will also be committed to other healthcare venture funds.