Bambu Ventures Establishes SPV to Acquire Lemonaid Health

September 16, 2025 at 15:12 PM EDT

Acquisition positions Lemonaid Health to accelerate growth as an independent telemedicine and pharmacy platform, reigniting its mission to make healthcare more accessible and affordable.

Chrome Holding Co. (formerly operating as “23andMe Holding Co.”) today announced it has entered into a Stock Purchase Agreement with Bambu Ventures (“Bambu”). Through the creation of a Special Purpose Vehicle (SPV) formed in partnership with Innova Capital Partners (“Innova”) the SPV will acquire 100% of the equity of Lemonaid Health, Inc. and Lemonaid Pharmacy Holdings, Inc., pending approval by the United States Bankruptcy Court for the Eastern District of Missouri.

Bambu Ventures and Innova began collaborating nearly four months ago on the pursuit of Lemonaid Health. Together, the partners plan to expand the company’s on-demand telemedicine and online pharmacy services, building on its original mission of empowering patients with easier, faster access to care.

“This acquisition is an incredible outcome for our portfolio, and we are thrilled to support Lemonaid Health’s next phase of growth,” said Kyle Pretsch, General Partner at Bambu Ventures. “We are committed to advancing Lemonaid’s vision and expanding its reach to create an exceptional consumer healthcare experience.”

Lawrence Jacobs, Co-Managing Partner of Innova, added: “We look forward to working alongside Bambu Ventures to enhance Lemonaid’s offerings, improve patient care, and accelerate telehealth adoption in the U.S. and beyond.”

Bambu Ventures will provide executive leadership to the new entity through General Partners Richard Hearn and Kyle Pretsch, with Dylan Runne joining Innova principals on the Board of Directors.

“We are excited to pair vision with operational excellence, bringing Lemonaid back to an aggressive growth mindset,” said Richard Hearn, General Partner at Bambu Ventures, who will also serve in an operational leadership role.

Founded in 2013, Lemonaid Health has been a pioneer in telehealth, offering affordable, direct access to care for a wide range of common conditions. Its platform provides both medical consultations and same-day prescription delivery, making healthcare more convenient, efficient, and accessible for patients nationwide.

About BambuMeta Ventures

BambuMeta Ventures (bambuventures.com) acted as lead sponsor and guarantor of the transaction. Bambu specializes in overlooked and undervalued B2B SaaS, AI, and tech-enabled services at the Pre-Seed and Seed stages. Applying a private equity lens to early-stage investing, Bambu’s partners take an active, hands-on role in operational execution, compounding learnings across the portfolio through the firm’s “Contribution Effect,” and driving momentum toward profitability.

About Innova Capital Partners

Innova Capital Partners (innovacapitalpartners.com) is a global private investment firm focused on disruptive innovators. With more than a decade of experience, Innova develops unique opportunities across sectors where its investment expertise and operational capabilities create value. The firm invests at multiple stages of growth, building and supporting talented teams while scaling promising businesses worldwide.

Partners

Goldenberg Heller & Antognoli P.C. served as legal counsel to the SPV. Collins Law Offices advised BambuMeta Ventures.

Investors

eGateway Capital (Cincinnati, Ohio) acted as a lead sponsors for the SPV, supported by Broadview Capital, Auctus Holding Ltd., Day Break Partners and others.

About Lemonaid Health

Lemonaid Health is a leading telemedicine and prescription delivery provider. By combining advanced clinical algorithms with the expertise of licensed medical professionals, the platform allows patients to quickly, safely, and affordably access care and prescriptions for a variety of conditions. Lemonaid’s mail-order pharmacy ships most medications the same day, ensuring speed, convenience, and accessibility. Learn more at lemonaidhealth.com.