The new corporate venture fund will be lead by Sanjeev Gupta, chief information and transformation officer at HBF Health.
HBF, a not-for-profit health insurance provider, has launched a A$25m ($17.7m) corporate venture fund to invest in health tech startups.
Perth-based HBF, Australia’s second largest member-based health fund with more than one million members, is partnering with Australian investment management firm Artesian on the new fund. HBF Ventures has a 10-year investment horizon and expects to make between 15 and 20 investments over its lifecycle.
The CVC fund, established using capital from the company’s existing investment portfolio, will invest in early- and growth-stage companies. Targeted sectors include digital health and advanced analytics, new care delivery models, and preventative and population health services.
“Digital health is evolving at pace, with AI, advanced analytics and new models creating opportunities to dramatically improve how members navigate and experience care,” said Sanjeev Gupta (pictured), the operational lead for HBF Ventures, in a LinkenIn post announcing the new CVC.
See all the recent corporate-backed healthcare startup deals in the CVC Funding Round Database
