NEXT VENTURES

NEXT VENTURES is an early-stage venture capital firm founded in 2019 by seven-time Tour de France winner Lance Armstrong, with offices in Austin, Texas and San Francisco. The firm invests exclusively in companies addressing 'whole person health' — a portfolio spanning sports and fitness, outdoor and endurance, nutrition and wellness, preventive care, and diagnostics. Co-founder Armstrong is joined by General Partner Lionel Conacher, an experienced operator and investor, and Founding Partner Melanie Strong, who focuses on innovative technology investments across health, wellness, and sports. NEXT currently manages roughly $60 million in AUM and has launched a $100 million Fund II to double down on whole-person health, preventive care, and diagnostics. Typical initial checks range from $1 million to $3 million at seed and Series A into revenue-producing, market-validated companies. The portfolio includes 18 companies and has produced 1 unicorn, 3 acquisitions, and several notable portfolio companies. The standout holding is Oura, the smart-ring health-wearable leader that reached unicorn status. Other portfolio names include Humane, an AI wearable company; Genopets, a move-to-earn game; Amp Human, which makes PR Lotion and merged with Momentous; PowerDot, a muscle-recovery technology; Pair Team, a preventive-care platform; Vital BioSciences; and Trial Library. Recent acquisitions include SteadyMD, acquired by DocGo in October 2025, and Hammerhead, acquired by SRAM in January 2022. NEXT VENTURES' sector focus is genuinely differentiated: by concentrating on the intersection of health span, athletic performance, and consumer wellness, the firm accesses a market that most traditional healthcare or consumer VCs approach only partially. The founders' operational networks in endurance sport and fitness provide a sourcing advantage that few funds can replicate.