Frazier Fund II
- Frazier VC
- Feb 13
- 3 min read
Updated: Feb 25
Lehi, Utah — Frazier Venture Capital is pleased to announce the performance of Frazier Fund II, a $20.2 million fund launched in 2017, which has delivered a 41% net internal rate of return (IRR) and a 2.3x net multiple to limited partners. With 84% of capital realized as of Feb 13, 2026, the fund reflects Frazier VC’s continued ability to identify and scale high-growth companies.
Building on the foundation established in Fund I, Frazier Fund II focused on backing early-stage companies with proven traction, strong leadership teams, and scalable platforms. The fund targeted opportunities in SaaS, healthcare technology, fintech infrastructure, and enterprise solutions—areas where Frazier VC’s network and experience provide a meaningful advantage.
Despite evolving market conditions, Fund II has delivered exceptional returns, driven by a portfolio of companies that have achieved meaningful scale, strategic acquisitions, and market leadership positions. The fund’s performance reinforces Frazier VC’s position as a leading seed and early-stage venture capital firm in Utah, known for backing companies early and supporting them through growth and liquidity.
With a significant portion of the fund already realized, Frazier VC continues to actively support remaining portfolio companies while deploying capital from subsequent funds into the next generation of high-potential businesses.
Portfolio Highlights
Below is an overview of companies backed by Frazier Fund II, each representing Frazier VC’s strategy of investing in scalable platforms with strong growth potential.
Banyan
Banyan provides data-driven payment and item-level transaction intelligence solutions that power loyalty, receipt capture, and financial insights. Its platform helps financial institutions and fintech companies unlock deeper value from transaction data.
Blip is a digital out-of-home advertising platform that allows businesses to purchase billboard space programmatically and in real time. The company has modernized the billboard industry by making advertising more accessible, flexible, and measurable.
Central Logic delivers healthcare access and orchestration solutions that improve patient flow and care coordination across health systems. Its platform helps hospitals optimize capacity, reduce transfer times, and improve patient outcomes.
Ephesoft offers AI-powered document processing and data extraction solutions that automate workflows for enterprises. The platform enables organizations to convert unstructured data into actionable insights at scale.
Galileo provides API-based banking infrastructure that enables companies to build and scale digital financial products. As a foundational fintech platform, Galileo supports some of the fastest-growing digital banks and financial services companies.
HireVue offers a comprehensive hiring platform that combines video interviewing, assessments, and AI-driven insights. Its technology helps organizations identify top talent more efficiently while enhancing the candidate experience.
InMoment delivers customer experience (CX) and employee experience (EX) solutions that help organizations understand and improve engagement across their business. Its platform combines analytics, feedback, and AI to drive better decision-making.
Lendio is a leading small business lending marketplace that connects entrepreneurs with a wide network of lenders. The platform simplifies the loan application process, helping businesses secure funding quickly and efficiently.
Marketware provides software that helps hospitals and health systems manage physician relationships, recruitment, onboarding, and analytics. The company positions its Physician Strategy Suite as an integrated set of tools used by provider relations and business development teams to track outreach, support recruitment workflows, and measure results across markets.
One Medical is a membership-based primary care provider that combines technology with a patient-centered approach to healthcare. The company has reimagined the primary care experience through convenience, accessibility, and modern design.
Simplus is a Salesforce consulting and implementation partner that helps organizations optimize their CRM and digital transformation initiatives. The company has grown into a leading global consultancy supporting enterprise cloud solutions.
TaskEasy connects property owners and managers with a nationwide network of contractors for exterior maintenance services. Its platform streamlines scheduling, service delivery, and payments for commercial and residential properties.
TechStyle Fashion Group is a global fashion company that leverages a membership-based model and data-driven design to deliver personalized apparel experiences. Its portfolio includes several well-known brands operating at the intersection of fashion and technology.
Venafi provides machine identity management solutions that secure and manage digital certificates and cryptographic keys. Its platform is critical for protecting enterprise infrastructure in an increasingly automated and cloud-driven world.
Weave offers an all-in-one communication platform designed for small and medium-sized businesses, particularly in healthcare. The software integrates phones, messaging, payments, and scheduling to improve customer experience and operational efficiency.
Workfront delivers enterprise work management software that helps teams plan, collaborate, and execute projects more effectively. The platform enhances productivity across organizations and was ultimately acquired by Adobe.
