Driving Innovation
In Healthcare

The Blue Venture Fund is a one-of-a-kind partnership amongst participating Blue Cross Blue Shield companies looking to advance the healthcare industry. We invest in technology, services, and clinical sciences companies to drive better health outcomes and deliver superior value to patients.

The Power of the BVF Platform

For over a decade, the Blue Venture Fund team has worked closely with participating Blue Plans and our portfolio companies to bring innovative products and solutions into the healthcare system. Our team has developed deep relationships with subject matter experts across the Blue ecosystem and beyond. These relationships help us explore how to implement emerging technologies and drive the commercialization of innovative solutions.

Through the BVF platform, Blue Plans gain access to technologies, innovations, and solutions through our portfolio companies and pipeline opportunities. Our strategic engagement model connects our portfolio companies to the knowledge and expertise of our Blue Plan partners—who are looking to innovate and collaborate with early-stage companies—as well as to the needs and priorities of Blue Plan Members. This dual focus ensures that the innovations we support are not only commercially viable but also meaningfully improve the healthcare experience for Blue Plan Members.

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The BVF Platform represents a unique and powerful engine to drive change.

1 in 3

Americans are Covered By Blue Plans

Participating Blue Plans
& Affiliates

Lives Covered under Blue Plans

Leaders in our
Blue Cross Blue Shield Network

Contracts Between Current/Former
Portfolio Companies and Blue Plans

Partnering with Exceptional Entrepreneurs

We respect entrepreneurs and recognize how hard it is to build a business  –  especially in healthcare. We bring a unique expertise on the payor contracting process and leverage deep industry expertise, strategic insights, and network connections to support our companies.

80+

37

Investments Made

30

Active Portfolio Investments

Exits

As of 12/31/2024

Where We Invest

We focus on three sub-sectors of healthcare with the goal of reducing cost and improving health outcomes for Blue Plan Members:

  • Healthcare Services: Companies aiming to redesign the delivery of care and improve experiences with the healthcare system.

  • Healthcare Technology: Companies building technology and  services to improve the experience and operations of a health plan.

  • Clinical: Companies that seek to improve medical care and decision-making.

We are stage agnostic, investing in emerging companies from seed to growth to buyout.

Our Team

Our team has extensive experience in healthcare investing and engaging key decision-makers to drive innovation. At the core of what we do is a drive to create lasting positive change in the healthcare system.

About the Fund

The Blue Venture Funds, a unique collaboration among Blue Cross Blue Shield companies, the Blue Cross Blue Shield Association, and Sandbox Industries, are owned, governed and capitalized by participating Blue Plans and affiliates. The Funds invest in venture and growth opportunities within healthcare technology, healthcare services and clinical sciences.

Sandbox is a separate, independent firm that provides a full range of investment management services to the Funds. Sandbox does not invest in healthcare outside of the Blue Venture Funds.