Hedge fund manager Steve Cohen’s Point72 Private Investments has led a $65m Series B funding round in Australian AI health startup Heidi, valuing the company at $465m, according to a report by Bloomberg, citing unnamed sources.
Existing investors, including Blackbird Ventures and Headline, also participated in the round.
Heidi uses artificial intelligence to automate administrative tasks for doctors, such as summarising patient consultations and processing medical documentation. The startup has been deployed in over 73 million patient consultations globally and supports more than two million consultations per week across 110 languages.
The investment underscores growing hedge fund interest in AI-driven healthcare solutions. Point72’s backing reflects a wider trend of alternative managers targeting early-stage technology ventures where AI and automation can unlock scale and operational efficiency, offering differentiated return opportunities outside traditional markets.
Founded in 2019, Heidi initially focused on gathering patient histories but has expanded capabilities with generative AI tools such as GPT-4, enabling broader adoption in clinical workflows. Co-founder and CEO Thomas Kelly said the platform reduces the administrative burden on doctors, allowing them to focus on patient care.
Heidi plans to expand into Singapore, Hong Kong, and strengthen teams in the US, UK, and Canada, aiming to double its headcount to 400 over the next year.
