Binoy Bhansali is a vice-president at Sandbox Industries, a US-based venture firm that also manages healthcare provider Blue Cross Blue Shield’s corporate venturing fund. The firm invests in healthtech and companies that provide services related to healthcare or are otherwise relevant to Blue Cross Blue Shield, also known as the Blues.
John Banta, executive director at the Blues’ venture funds, in his nomination of Bhansali said: “Binoy has an impressive background – investment banking-derived – and came to healthcare investment driven by a sense of purpose to effect change. His ability to assimilate observation and experiences into perspective, his drive and commitment and his attention to prevision and detail make him a very special talent.”
Before Sandbox Industries, Bhansali worked in healthcare investment banking at financial services firm Citigroup, in healthcare consulting at professional services company Accenture, and in social impact investing at asset investment manager Impact Investment Partners.
Bhansali joined Sandbox in 2015 because managing a CVC meant he could “empathise with both sides of the aisle – the entrepreneur and the corporate the entrepreneur is hoping to engage. Having patience and empathy for both sides is necessary, especially in regulated and complicated industries like healthcare, where distribution is everything.
“After multiple diligence processes, we found that US-based healthcare-referral platform developer Healthify had established itself as a leader. In May 2017, I led a series A investment in the company. Healthify has built technology products to help healthcare organisations screen individual needs, discern the non-medical services they require and refer those individuals to organisations to address those needs. This work is important, and I am excited to help the company grow as a board member.”
