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

Kelsey Maguire

Managing Director

Emir Sandhu

Managing Director

Bo Shi

Vice President

Mike Spadafore

Managing Director

Past deals in Mental Health

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.

Fort Health

Seed Round in 2024
Fort Health, founded in 2022 and headquartered in New York, provides mental health care services tailored for families, focusing on children and adolescents. The company offers a range of evidence-based support options to address the unique needs of each family. Its services include behavioral health care and telehealth assessments conducted by licensed child therapists, allowing for accurate diagnoses and the establishment of treatment goals. By delivering clinically validated care protocols, Fort Health aims to make mental health support accessible and affordable for users.

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.

AbilTo

Series C in 2015
AbilTo is a national behavioral healthcare provider that offers telehealth services across all fifty states, focusing on individuals experiencing emotional and behavioral challenges due to medical events and life transitions. The company provides support through a network of licensed therapists and behavior coaches who guide participants in an eight-week program aimed at helping them set and achieve personal goals. This program is designed to assist individuals in reclaiming their lives, enhancing their overall happiness, health, and productivity. AbilTo operates under the brand name for various professional services entities that are either managed by or affiliated with AbilTo Inc.

AbilTo

Series B in 2014
AbilTo is a national behavioral healthcare provider that offers telehealth services across all fifty states, focusing on individuals experiencing emotional and behavioral challenges due to medical events and life transitions. The company provides support through a network of licensed therapists and behavior coaches who guide participants in an eight-week program aimed at helping them set and achieve personal goals. This program is designed to assist individuals in reclaiming their lives, enhancing their overall happiness, health, and productivity. AbilTo operates under the brand name for various professional services entities that are either managed by or affiliated with AbilTo Inc.
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