Investment underscores Invidia’s strategy of partnering with clinically differentiated
healthcare platforms that improve patient outcomes in a cost effective manner
Invidia Capital Management to Make Growth Capital Investment in WIN, a Leading Fertility and Family-Building Benefits Platform Investment underscores Invidia’s strategy of partnering with clinically differentiated healthcare platforms that improve patient outcomes in a cost effective manner NEW YORK, April 24, 2026 — Invidia Capital Management today announced the signing of a definitive agreement under which Invidia will make a growth investment in WIN Holding Corporation, a leading provider of fertility and family support benefit services. The closing of Invidia’s investment in WIN remains subject to regulatory approval.
WIN is a women’s health company offering services across fertility treatment and preservation, surrogacy and adoption, maternity, menopause, and return-to-work programs. Led by a unique clinical support model, WIN has optimized patient experience and has helped over 900,000 families on their family-building and fertility journeys. As healthcare costs continue to rise, WIN’s differentiated, clinical-first approach and flexible contracting model have supported a 29-year track record of delivering strong clinical outcomes in a cost-effective manner. WIN’s Founder and CEO, Dr. Roger Shedlin, will continue to lead the business. Since founding WIN in 1998, Dr. Shedlin has built the Company into a category leader. He brings more than two decades of experience, including chief executive roles at OrthoNet and Optum Medical Benefit Management.
“WIN has spent nearly three decades building the most clinically rigorous fertility and familybuilding platform and we are gratified by the results: over 900,000 families supported and outcomes that consistently outperform national averages. Partnering with Invidia gives us the strategic expertise and support to bring that proven model to significantly more organizations and families. This is WIN’s next chapter of growth, and we look forward to building it together with Invidia.” said Dr. Shedlin.
Invidia identified WIN as a compelling platform given its clinical outperformance, strong employer and payer relationships, and positioning at the intersection of several durable healthcare trends, including rising demand for fertility services and increasing adoption of carve-out benefit solutions. The investment reflects Invidia’s focus on partnering with healthcare services and technology enabled platforms that improve clinical outcomes while reducing system costs. The firm was particularly drawn to WIN’s clinical advocacy model, data-driven approach to care navigation, and ability to align incentives across employers, payers, and providers.
“WIN represents everything we look for in a platform investment – proven clinical outcomes, deep customer relationships, and a significant runway for growth. Invidia plans to support WIN through continued investment in technology, expansion of its benefit offerings, and scaling of commercial partnerships. We are proud to partner with Roger and the WIN team, and we believe growing demand for fertility and family-building benefits creates an opportunity for WIN to scale meaningfully,” said Jo Natauri, Founder and Managing Partner of Invidia.
About Invidia
Invidia Capital Management is an investment firm headquartered in New York focused on the healthcare sector. The firm brings a differentiated approach to building high-quality businesses by delivering strategic and operational expertise to drive growth and innovation. Invidia’s investment team and advisors bring extensive relationships and decades of domain experience to partner with exceptional leaders and companies, building upon their success to drive outperformance. Invidia’s mission is to create durable, long-term value across the healthcare ecosystem for patients, providers, and payors.
For more information, please visit https://invidiacap.com.
About WIN
WIN is the nation’s leading fertility and family support benefit company. For over 29 years, through a comprehensive range of management services—including fertility treatment and preservation; surrogacy and adoption; maternity and doula support; menopause and andropause; parenting resources; caregiving support; and return-to-work programs—WIN has combined expert clinical guidance, behavioral support, modern mobile-centric technology, and highly credentialed specialty provider networks to promote optimal physical, emotional, and social health for families.