Good day. Artificial intelligence is already streamlining the paperwork side of healthcare. Now it’s seeping into patient care, too.

Startup Doctronic, which has just raised $40 million in new venture capital, in December became the first company to use AI to write prescription refills through a pilot launched in Utah. Other startups are launching or developing clinical-AI services in areas such as mental health and surgical rehabilitation.

Advocates say AI will speed access to care and help the nation confront rising healthcare costs and a shortage of doctors. Systems designed for clinical care can be safer and more effective than general-purpose chatbots, proponents say.

But some physicians say the tech isn’t ready to replace human judgment and companies are lunging into medical AI services. AI is generally unpopular with the public, who fear its expertise will replace them.

But services such as Doctronic’s that make medical care more accessible and affordable will illustrate the benefit, said Bradley Tusk, co-founder and managing partner of Doctronic investor Tusk Venture Partners.

“The harms are apparent to people, the benefits haven’t been seen as much,” he said. “This is a true example of it.”

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And now on to the news...

White House AI plan. The White House on Friday released a set of legislative recommendations to shape U.S. artificial intelligence policy, outlining a framework that favors light-touch regulation over comprehensive state-level laws.

The plan emphasizes the White House’s preference for Congress to rely on existing laws where possible and to avoid creating new rules or agencies to oversee the development of the emerging technology. Some of the most difficult legal issues around AI development should be left to the courts, it said, and sector-specific regulators should work with businesses where possible to solve issues. Here’s what you need to know.

Hong Kong investment firm Blue Pool Capital has raised $1 billion for its first private-equity fund, according to people familiar with the firm, a significant haul in a tough fundraising environment for the sector. Blue Pool also runs the family office and operating assets of Alibaba co-founder Joe Tsai.

Despite the AI-driven software stock meltdown, America’s largest corporations aren’t ditching their core business software just yet. Instead, they’re using the moment to squeeze better deals from vendors and “vibe-code” smaller apps and software customizations.

• And their efforts could be providing a preview of what comes next, when AI agents drive more workflows on top of that software.

As more women rise through the industry ranks, they shape not only the cultures of their own firms, but also the industry itself. Join us for a conversation with some of our past and present Women to Watch honorees, as we discuss issues female professionals face building their careers, as well as some of the emerging themes that stand to shape dealmaking as the year unfolds. Register here to join the webinar at 1 p.m. ET March 26.

Funds

Redbud VC, a pre-seed venture capital firm based in Columbia, Mo., closed a $25 million Fund II. The firm was founded by Brett Calhoun and brothers Willy and Jabbok Schlacks, who are also founders of construction technology company EquipmentShare. Redbud invests nationally and expects to deploy Fund II in about 40 startups by writing checks sized between $250,000 and $500,000. Limited partners in Fund II include the University of Missouri System Endowment and AngelList’s Systematic Fund of Funds.

People

Ledger, a provider of digital asset security services, appointed John Andrews as chief financial officer. Andrews was previously head of capital markets and investor relations at Circle. Ledger also said it opened an office in New York.

GeoWealth, an asset management platform for modern investment advisers, expanded its Series C financing with a $42.5 million investment from Goldman Sachs, bringing the company’s Series C round to $80.5 million. The investment adds Goldman Sachs to its strategic institutional investors that also include Apollo, BlackRock and J.P. Morgan Asset Management.

Hanover Park, a New York-based AI-native fund administrator for private equity and venture capital, raised a $27 million Series A financing led by Emergence Capital, with participation from Lux Capital and Susa Ventures.

• Tesla Finally Has Its First Semi-Truck and It’s Already a Hit With Truckers
   
• Teaching AI to Smell 
   
• Tech Exec Accused of Smuggling High-End Nvidia Chips to China
   
• Why Even Smart People Believe AI Is Really Thinking
   
• Biometrics Sounds Cool—and Safe. Maybe, but Read This First
   
• How Much Do You Know About Rare Earths? Test Yourself With This Quiz

• China is mobilizing thousands of one-person AI startups (Rest of World)
   
• The best AI investment might be in energy tech (TechCrunch)

This newsletter was compiled by Yuliya Chernova.

Share your tips, comments and questions: vcnews@wsj.com

The team: Matthew Strozier, Yuliya Chernova, and Brian Gormley.

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