Optum Ventures

Optum Ventures describes itself as an independent venture capital firm founded in 2017 in partnership with UnitedHealth Group, the parent of Optum. It is based at 75 State Street in Boston and has a London office for its global funds. The firm reports more than $2 billion in assets under management across six funds and more than 75 portfolio companies. Its management company, Optum Venture Management, LLC, files with the SEC as an exempt reporting adviser.

The firm invests from seed to growth equity without a fixed stage preference, in companies at the intersection of technology and healthcare. Its stated sectors are value-based care delivery, enterprise software and enabling infrastructure, and healthcare fintech. Current portfolio companies include Alma, Cedar, Brightline, Equip, Imagine Pediatrics, Somatus, LetsGetChecked and Ultromics, and its London team runs global investments such as Doccla. The team spans investment partners in Boston and London plus in-house finance, legal and portfolio finance staff, and an executive in residence drawn from UnitedHealth Group leadership.

What distinguishes Optum Ventures is the combination of a parent tie with an independent structure. The firm points to deep connectivity across health plans, providers, employers and patients, including UnitedHealth Group, as a commercialization channel for portfolio companies. At the same time, its Form ADV lists Managing Partner Larry Renfro, the former Optum CEO, as the majority owner of the adviser, with Stephen Renfro and Laura Veroneau as managers, so the investment team is not a business unit of the parent. The portfolio page marks a long list of exits, including AbleTo, DocASAP, Kaia Health, RubiconMD, TruePill, Humata Health, Contessa and Icometrix.