BlueCross BlueShield Venture Partners, the corporate venture fund backed by 29 entities within health insurance organisation Blue Cross and Blue Shield Association, has raised $10m for its new fund, according to a regulatory filing.
The securities filing does not reveal a target size for the fund, which would follow more than $500m in capital for BlueCross BlueShield Venture Partners’ existing funds.
The funds invest in the healthcare sector, ranging from wellness to software startups. They are backed by 29 entities of the 36 independent businesses that make up Blue Cross and Blue Shield Association.
BlueCross BlueShield Venture Partners typically invests between $11m and $20m, though it is stage agnostic.