Two healthcare-related organizations pump-up their venture funds
Two enterprises in the healthcare sector recently announced significant commitments to either new or expanded venture funds.
As reported by Fierce Healthcare, Cigna plans to give its venture capital arm – Cigna Ventures – a $450 million boost as part of the company’s strategy to increase shareholder value and deliver long-term growth. Cigna’s Board of Directors authorized the additional funding with a focus on early stage companies in the areas of insights and analytics, digital health and experience, and care delivery and enablement. In 2018, Cigna committed $250 million to Cigna Ventures, and the venture arm now has seven venture capital partners and 15 existing direct investments.
OSF Ventures, the investment arm of Illinois-based OSF HealthCare, a not-for-profit Catholic health care organization, announced this week the launch of a $100 million fund targeting early innovations that could be deployed within the health system. The fund is OSF Ventures’ third capital investment fund and its largest. To date, the program has made 26 direct investments and seen nine successful exits. The fund now holds $250 million in assets under management and has an active portfolio of 17 companies, according to this article also in Fierce Healthcare.