CVS Health Ventures

CVS Health launched CVS Health Ventures in April 2021 as a dedicated corporate venture fund with an initial $100 million allocation, announced from its Woonsocket, Rhode Island headquarters. Before the fund existed, CVS Health had already made more than 20 direct investments through its CVS and Aetna businesses, including Unite Us and LumiraDx. Managing partner Vijay Patel told Global Corporate Venturing in 2026 that CVS had been the only large health care organization without a venture unit when the fund was created.

The unit now runs several strategies: a dedicated venture fund, a minority growth equity program, limited partner investments in outside funds, and a market development function. Global Corporate Venturing reported that the early-stage fund wrote checks of $3 million to $10 million and that the growth fund, started in 2022, can write checks of up to $100 million. Its four stated investment areas are tech-enabled workflows, disruptive technology including AI, simplifying complexity in health care, and consumer-centric health. The portfolio leans toward value-based and specialty care delivery, including Monogram Health, Oshi Health, Thyme Care, Strive Health and Main Street Health, alongside AI tools such as Abridge and Ellipsis Health.

The commercial link to the parent is explicit. CVS Health Ventures says more than 70 percent of its 40-plus portfolio companies have established business relationships with CVS Health, and its market development team works with CVS business units to turn investments into partnerships. A 2026 Global Corporate Venturing profile reported that the team had grown to 26 people, that it now leads or co-leads a significant share of its deals, that returns are reinvested on an evergreen basis, and that it also manages minority stakes inherited from Aetna, Caremark, Signify Health and Oak Street Health.