Providence Ventures targets early-to mid-stage investment opportunities, preferring to be one of the first institutional investors in a company. Over the life of an investment, they seek to deploy $8 to $15 million. Their best opportunities to add value are investments that align the interests of their portfolio companies and the innovation priorities of Providence Health & Services, through broad solution deployment and strategic insight. The innovation opportunities PHS targets as a large health system tend to reflect the priorities of the US health system overall. They welcome the opportunity to partner with established venture funds as co-investors, however, syndication is not a prerequisite for their participation.
Providence Ventures is founded in 2014 which manages $300 million in venture capital funds on behalf of Providence St. Joseph Health (PSJH), one of the largest integrated health systems in the US. The company's mission is to achieve venture and growth equity class returns through direct investments in innovative healthcare companies that improve health outcomes, lower costs, and enhance the experience of our patients and caregivers. It offers investment capital, combined with health system expertise, to companies addressing existing and emerging pain points in healthcare. Providence Ventures partners with our portfolio companies to refine existing solutions, while expanding their adoption within and beyond our health system.