Frist Cressey Ventures

Cobalt’s strategic approach adds value for entrepreneurs and co-investors who seek partners bringing more than just dollars to the mix. While we focus on generating superior financial returns, we’re equally passionate about supporting our portfolio companies with unique industry insights and direct access to healthcare leaders, stakeholders and subject matter experts through our affiliation with a leading regional health plan. A Flywheel of Value Creation Cobalt acts as a catalyst for strategic engagement between both the entrepreneurs and corporate partners we serve. Our investment model drives a flywheel of value creation by aligning the strategic priorities of payers and providers with achievement of key commercial milestones for our portfolio companies. Supporting this path for collaboration in both directions is an integral part of our investment process. We start at the earliest stages of evaluating any opportunity -- and continue to work as an active and engaged partner to execute on innovation long after the deal is done. For Entrepreneurs Cobalt supports business development and partnership opportunities for: Product development Pilots and use case implementation Business model and ROI validation Customer acquisition Follow-on investment and exits For Payers and At-Risk Providers Our portfolio companies drive strategic value by: Lowering total cost of care Improving experience, engagement and quality metrics Expanding access to care for members and patients Aligning payers and providers to value Enhancing business growth and administrative efficiencies Our Core Principles Our Team is passionate about forging strong partnerships that drive significant growth and value creation for our portfolio companies. We are committed to the following shared principles and values: We are both financial returns motivated and mission oriented. We believe we can do well by doing good. We are not passive investors. We act with a partnership mentality and seek to work with people who want to actively partner and collaborate with us. We are undeterred by the dysfunction of our healthcare system, and we are obsessed with trying to improve it for payers, providers and patients. We value honesty, integrity and transparency. We expect the same from our partners. We value and support the principles of diversity, equity and inclusion. We do serious and important work in support of incredibly talented entrepreneurs and professionals, but we will always strive to have fun while doing it.

At Boomerang Ventures, we believe better patient care begins with identifying and solving the biggest challenges in healthcare. Boomerang Ventures partners with founders, investors, and institutions that are leveraging new technologies to disrupt healthcare for the better. With our combination studio and venture fund, we provide the collaborative direction, deep industry expertise, and continuum of support founders need to take their innovations from ideation to market. Seamless Approach to Innovation. Our combination studio and fund work together to bring transformative healthcare ideas to life. Connected Health Technology Focus. We build and invest in connected health companies that are shaping a better future for healthcare. Collaborative Investors. We value our partners’ perspectives and work collaboratively to realize our shared vision. CONNECTED HEALTH TECHNOLOGY. Between rising costs, aging populations, staffing shortages, and increasing chronic disease, our healthcare system is struggling to provide the quality of care that patients need and deserve. Our experienced team has been in the Midwest healthcare and life science ecosystem for decades and knows what goes into launching, growing, and scaling successful healthcare companies. With our fund and studio, we are building health tech companies to improve the quality, accessibility, delivery, efficiency, and overall experience of patient care. We make investments in high-potential Midwest companies where our team can drive outsized impact. We focus on key healthcare sectors experiencing accelerated digital and care model transformation, including machine learning, artificial intelligence, virtual care, remote patient management and more. Together, these interconnected areas are paving the way for a brighter future in healthcare. OUR CORE VALUES. Driving the future of healthcare technology from the Midwest, for the world. Intentional Innovation: We push ourselves to think beyond the obvious. We leverage flexible creativity and structured methodology to innovate a future we all deserve. Committed To Collaboration: Our best work happens collaboratively as a team. We listen well and communicate constructively with each other and our partners to create lasting impact. Results that Matter: We focus on positively impacting patient experiences and outcomes. We set high-performance goals and follow through to improve the health of our communities and beyond.

Established in 2019, Seae Ventures, a Boston-based firm, identifies and invests in high-performing early-stage healthcare technology and services companies founded primarily by Women and people who identify as Black, Indigenous and People of Color to generate premium strategic and financial value for its partners. Seae prides itself on a data-driven approach to investing that balances the need for structure with the ability to adapt to ever-changing market conditions. We seek to develop and launch innovative solutions that address the diverse needs of the US population. In addition to evaluating and making equity investments, Seae seeks to convene a strong ecosystem of those who are seeking to drive change.

From startups to more experienced companies, we offer investment capital joined with the expertise of an integrated health system and health plan. We actively partner with organizations to support their success and positively impact the communities we serve. We also actively partner with other like-minded health care organizations and strategic investors to collectively share expertise and drive scale. By leveraging our venture network, we will drive growth and value for portfolio companies while changing the future of health care. What we invest in:Companies and solutions aligned with our vision and strategic priorities Experienced, in-place management teams Well-developed, unique value propositions and business models Existing customers and revenue stream of $1M or more Solutions that amplify our clinical and operational expertise What we do not invest in:Class III medical devices Pharmaceuticals or biotech Pre-revenue companies* Solutions outside our mission, vision and values Other ways we work with emerging innovation companies to create value:Pool resources De-risk commercialization Collaboration agreements

We are entrepreneurs, investors, builders, operators, and thinkers. We are optimists. We are our founders’ biggest fans. Our investment team and venture partners provide local coverage of all innovation hotspots, where we have a proven track record of finding great investment opportunities.

Founded over 20 years ago, Kaiser Permanente Ventures has developed into a national leader in strategic venture investing in healthcare. In partnership with Kaiser Permanente and our limited partners, the KPV team has invested in and helped support over 65 companies, representing some of the most important innovations in healthcare delivery over this time period. We’ve achieved these successes through deep engagement within KP and across our investment partners, leveraging the tremendous insights that come from those leading our healthcare systems and care delivery to identify the most pressing needs within healthcare and select the innovations that most effectively address those opportunities. Together with our partners, KP and KPV represents22,000+ clinicians and over 180,000 healthcare employees 38+ acute care hospitals and over 600 other healthcare-related facilities Approximately $65 billion in annual operating revenue Largest U.S. single comprehensive electronic medical record system Leading evidence-based care delivery mode Our fund targetsHealth Information Technology (Enterprise Solutions) Digital Health Healthcare Services Medical Devices Diagnostics and Precision Medicine