Blue Venture Fund

Blue Venture Fund is a strategic investment entity based in Chicago, Illinois, founded in 2008. The organization focuses on fostering innovation within the healthcare sector by investing in emerging companies that have the potential to enhance the quality of care, improve patient experiences, and reduce costs. It specifically targets investments in healthcare technology, healthcare services, and clinical sciences. The fund aligns its investment strategy with the needs and priorities of Blue Cross Blue Shield member companies and their policyholders, ensuring that its initiatives support the broader goal of advancing healthcare solutions.

John Banta

Managing Director

John Banta

Vice President of Investments

Emir Sandhu

Managing Director

Bo Shi

Vice President

Mike Spadafore

Managing Director

Past deals in Rhode Island

Upward Health

Series C in 2025
Upward Health Inc. is a specialty care coordination organization that focuses on home-based medical and behavioral care for individuals facing mental illness and substance abuse disorders. Established in 2017 and based in Providence, Rhode Island, the company collaborates with health plans and providers to ensure comprehensive support for patients with complex needs. By coordinating care among caregivers, primary care physicians, and various medical and behavioral health specialists, Upward Health aims to facilitate full recovery and safe transitions back to the community. The organization emphasizes hands-on, holistic care, which not only improves health outcomes for high-risk members but also reduces overall healthcare costs. Upward Health was previously known as BehaveCare Inc. before rebranding in July 2019.

Upward Health

Series B in 2022
Upward Health Inc. is a specialty care coordination organization that focuses on home-based medical and behavioral care for individuals facing mental illness and substance abuse disorders. Established in 2017 and based in Providence, Rhode Island, the company collaborates with health plans and providers to ensure comprehensive support for patients with complex needs. By coordinating care among caregivers, primary care physicians, and various medical and behavioral health specialists, Upward Health aims to facilitate full recovery and safe transitions back to the community. The organization emphasizes hands-on, holistic care, which not only improves health outcomes for high-risk members but also reduces overall healthcare costs. Upward Health was previously known as BehaveCare Inc. before rebranding in July 2019.
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