Health Enterprise Partners

SCOR Ventures is the venture investment arm of SCOR Reinsurance, responsible for both investing in and creating partnerships with startups across the insurtech landscape. Since 2017 we have built a global portfolio across three theses: (1) investing in tech-driven underwriting companies (MGAs, carriers) and distributors, (2) software solutions that benefit SCOR and/or our clients, and (3) companies that help people live healthier lives. Our investment scope includes both investments and commercial (re)insurance relationships with startups. We predominantly invest at late Seed / Series A and are interested in a broad range of B2B and B2B2C solutions across MedTech, wellness, wearables, data platforms, and software / AI platforms. What we’re looking for We invest across three thesis areas: Thesis 1: we invest and partner in the ‘Insurers of the Future’: tech-driven underwriting companies (MGAs, carriers) that offer multiple points of digital and business model differentiation across P&C and L&H. We provide direct access to SCOR expertise and our global network to help portfolio companies scale and/or access (re)insurance capacity. With a proven track record of supporting innovative underwriting propositions across multiple lines of business, we understand product development, program structuring, underwriting, pricing and distribution and thus have the capabilities to optimise partnerships between insurtechs and business partners. We predominantly invest at late Seed / Series A. We are class of business agnostic and have partnered with companies across a broad variety of personal and specialty lines. Thesis 2: we invest and partner in software solutions that benefit SCOR and/or our clients. We provide a broad understanding of the interests and pain points of insurers across the world, and the potential to connect companies with insurers through SCOR’s client services initiatives. We predominantly invest later stage vs. Thesis 1 (typically Series A-B) but have occasional appetite for Seed. We prioritise companies: developing data, tools, and methods for obtaining, understanding, pricing and transferring large portfolios of pre-aggregated risks, high-value individual risks such as energy facilities and construction mega-projects, and MGA/coverholder business delivering economically valuable additional services offering a visible outcome which can be used to boost client management or reduce risks. Focus areas include front-end (e.g., underwriting & pricing) policy administration, modelling, risk analytics, and claims developing platforms where insurance has not previously been embedded / distributed, but where SCOR Ventures sees substantial opportunities to close the global protection gap – e.g., marketplaces, “super apps”, b2b fintech, employee benefits working to solve climate and ESG challenges to support the net zero transition and cut emissions for SCOR and SCOR clients. Focus areas include ESG reporting, climate risk analysis and data, carbon offsetting as a solution, circular economy, diversity, equity, and inclusion (DEI) tech, and supply chain transparency. We also see several opportunities in the green insurance product space including solar production or maintenance guarantees, wind input parametric products, solar physical asset damage, cat-bond / ILS and insuring carbon credit projects. Thesis 3: We invest at the intersection of health and technology and partner with companies that help people live healthier lives, deliver in-force or claims outcome improvements, develop new business or add to SCOR’s Knowledge Center capabilities, and assist our clients to transform their offerings. We predominantly invest at late Seed / Series A and are interested in a broad range of B2B and B2B2C solutions across MedTech, wellness, wearables, data platforms, and software / AI platforms. How we operateIntegrated in the wider SCOR business: Direct access to the entirety of SCOR’s capabilities brings unique added value to our portfolio companies. SCOR’s core business has experts in nearly every country, line of business, and functional area, while SCOR Partners bring a broad range of client services, marketing and product development expertise. Mandate: focused on key markets in North America, EMEA and LATAM, with selective deployment in APAC and Africa. Stage and ownership: We invest Seed to Series B. We typically seek greater than 5% ownership at first investment, which may include a board seat (we have led or co-led half of our investments to date). Our investment is intended to make SCOR a meaningful contributor but leave founders room to manage their cap table. We look for a long-term investment and / or commercial relationship but do not seek a fast exit or to ultimately acquire portfolio companies. Partnership approach: we are active supporters of the companies we work with, assisting with technical input, recruitment, capital optimisation and more. The material growth of many insurtech MGAs and carriers has led to increasing demand for (re)insurance capacity; SCOR is a transparent, long-term partner. Insurtechs in SaaS and services segments, meanwhile, have benefited from SCOR’s long-standing client relationships, while SCOR benefits from bringing knowledge, links, and expertise regarding services with genuine value to our clients. We bring value to our portfolio companies by connecting them with other partner companies, as well as with founders and distribution leads in our network. Why partner with SCOR VenturesWe believe in fewer, deeper relationships over the long term. We are flexible and collaborative in our approach, tailoring a solution to your specific needs, in partnership with other insurers, reinsurers, and investors involved in your company as appropriate. We underwrite most major lines of business and geographies globally. We have a global network including insurance licenses but not a competing retail insurance arm. Insurers are our clients, so working with us does not limit your options to associate with insurers. In selected circumstances, we can offer access to Lloyd’s or SCOR’s insurance licenses in the U.S., Europe, Asia, Brazil, South Africa, and other markets. We look to move quickly with direct access to decision makers, whilst leveraging resources and expertise to ensure our partners can build relationships with the appropriate parts of our organization.

Dreamit Healthtech focuses on digital health, medical device, and diagnostics startups. Dreamit company founders have myriad opportunities to meet, pilot, and partner with leading health systems, payers, pharmaceutical companies, medical device manufacturers, and self-insured employers. Dreamit Securetech focuses on cybersecurity, anti-fraud, risk & compliance, and physical security startups. Dreamit company founders have myriad opportunities to meet, pilot, and partner with leaders at Fortune 1,000 companies, hospital systems, federal agencies, and the military.

At the foundation of each of our investments is a commitment to helping our portfolio companies grow so they can better serve employers of all size. Employers make significant investments to make health care more accessible and easier to navigate. Our portfolio companies bring innovations to market that meet some of employers’ most pressing health care needs, including care navigation, advanced primary care, fertility planning and advanced analytics. Here are some of our current key areas of focus: Drug Management: Prices for drugs – particularly in high-cost categories like oncology, obesity and cell gene therapy – are outpacing inflation. We seek investment opportunities that address drug spend and access, with a specific focus on high-cost drugs or conditions that are highly prevalent in employer-sponsored insurance populations. Data and Analytics: Employers need solutions that make the vast amount of available health care data actionable and tailored to their insured populations. As such, we consider investment opportunities that provide the necessary infrastructure and analytic capabilities to impact administrative efficiency or drive improvements in health care quality and price transparency. Small- and Medium-Sized Business (SMB) Solutions: Rising health care costs place a severe burden on SMBs. In fact, the smallest employers are facing the biggest hikes in premium costs. Employers with just 1-10 employees saw a 12% increase in average family plan premiums in 2022. To help navigate this challenge, we weigh investment opportunities that enable SMBs to provide more affordable, high-quality, and equitable health care to employees through new purchasing and coverage models. Behavioral Health: Fragmented solutions have proven ineffective in addressing the behavioral health needs of patients. To help drive change in this area, we’re considering investment opportunities that approach patient care holistically, with behavioral and medical spend linked to create a comprehensive and unified view of the patient. Women’s Health: Despite deep investments in this area from employers, too many gaps in health and access to care still exist. There are opportunities to solve for the discrete, largely unmet, needs of women in the workforce, including but not limited to maternity, menopause, and comprehensive women’s primary care.

We invest in the innovators behind the miracles of science who are passionate about improving human health. Sanofi Ventures serves as an entry point to the innovation ecosystem for Sanofi, strategically investing in early-stage transformational science and technology, when companies are too early to partner with or acquire. Our Approach As the corporate venture capital arm of Sanofi, we invest in top-tier biotech and digital health companies that focus on helping patients and transforming the practice of medicine. We invest across all stages of the private company lifecycle, from Seed to Series B and beyond, while leading financings, serving on boards, and taking pride in working alongside portfolio companies to drive long-term value through future financings and IPO. How We Work Think of us like institutional venture capitalists with an added bonus: in addition to our investment, we aim to offer our portfolio companies select access to Sanofi’s expertise and capabilities in science, preclinical and clinical development, regulatory, data analytics, manufacturing, market access, and commercialization. Our goal is to foster strong relationships over time so when our portfolio company is ready to consider a partnership or acquisition, our colleagues on the BD and M&A teams can be a first and last call. We move quickly, we don’t believe in drawn-out processes, and we always aim to provide thoughtful feedback. Our Investment Focus We invest in early-stage biotech and digital health companies of strategic interest to Sanofi. We seek to accelerate all strategic focus while reaching into novel and emerging areas of science and technology. Here are some of the areas that we currently are thinking about: Rare diseases Immunology and inflammation Oncology Cell and gene therapy Vaccines Digital health and data science We can't do it alone - we would love to hear how we can team up to improve human health for people everywhere!

AGP is a fund management company spun out from EDBI, a state-owned fund in Singapore, with former senior employees as founders. The fund will continue to have close affiliation to EDBI providing unique opportunities for collaboration and investments. We are raising a dedicated healthcare fund (“AGP Healthcare Fund” or “AGPHC”) to build on our successes at EDBI and to capture new opportunities. Our partners have a credible reputation built on years of working together at EDBI and having strong domain expertise in healthcare, with extensive network and deep linkages to the Singapore, regional, and global biomedical and healthcare ecosystem. Our investment areas* include medtech & manufacturing, services & others, healthtech, and biotech & therapeutics. At AGP Healthcare Fund, we focus on investing in growth-stage companies (Series C to pre-IPO) (~75%) and venture-stage companies (Series A and B) (~25%). Our unique position in serving both SEA/Asia and global markets is driven by our belief that SEA is an emerging innovation hub with tremendous potential to build differentiated and valuable healthcare companies. We see opportunities for healthcare companies to capitalize on the Asian growth momentum by leveraging Singapore's position as a nexus between the East and the West. With our global insights and proven track record, we provide valuable guidance and advice to founders in expanding their businesses globally. Investment areasMedtech & Mfg, Services & Others: minimally invasive devices, medical equipment manufacturing & distribution, surgical robotics, diagnostics, healthcare services, new modalities CRDMOs, life science equipment & consumables, drug manufacturing & distribution Healthtech: remote patient monitoring, virtual care delivery, digital health platform, workflow automation, healthcare analytics, AI in healthcare imaging, digital therapeutics, chronic disease management Biotech & Therapeutics: cell & gene therapy, RNA therapeutics, AI drug discovery, targeted therapy & immunotherapy, gene editing tools & infrastructure, regenerative medicine & tissue engineering, and life science tools

Amgen Ventures has made >70 INVESTMENTS placing >$400M of the $625M Amgen has committed to support healthcare innovation and interconnectivity at all stages. Amgen Ventures offers us a unique conduit to identify and support key innovators in healthcare at early stages of translational sciences by providing investment capital and access to Amgen’s vast experience in developing leading drugs. AREAS OF INVESTMENTTHERAPEUTICS: Identify promising pipeline assets in Amgen’s therapeutic areas: oncology, immune- oncology, cardiovascular, inflammation, bone health, nephrology, metabolic disorders, and neuroscience. DRUG DISCOVERY & EMERGING TECHNOLOGIES: Improve the discovery process with new technologies including cell therapies, gene-editing and gene-therapies, regenerative medicine, and drug delivery. DIGITAL HEALTHCARE SERVICES, INFORMATION & ANALYTICS: Enhance Amgen medicines by improving real world outcomes and delivering greater value to healthcare systems, doctors, and patients.