Town Hall Ventures

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 aim to support passionate entrepreneurs building visionary brands in positive living that will make the daily lives of consumers healthier, happier and more meaningful. We seek to partner with companies that are narrowing The Wellness Gap: the quantifiable delta that has grown dramatically over the past two decades as economic indicators such as GDP per capita have increased while measures of overall wellbeing, including physical and mental health, have stagnated or decreased. We are most focused on overlooked or stigmatized communities that have resulted in underserved markets. These are the areas where we see opportunity: Disruptive Healthcare Care Economy Consumer Wellbeing Connection & Community With a particular interest in the following demographics: Women Immigrants Caregivers Aging Adults Gen Z

Rhia Ventures’ mission is to create a vibrant US market for sexual, reproductive, and maternal health that produces equitable outcomes for all. This multi-billion dollar market has tremendous potential for public health impact, but it has been built on flawed systems that perpetuate unjust outcomes for women of color, low-income women, and others directly affected by systemic inequities. Our work is to transform this market. We know that transformation happens when partners with long experience in reproductive health and justice come together with market-facing actors to create deep, meaningful impact. By connecting activists, public health professionals, scientists, entrepreneurs, corporates, and investors, together we will build a more just marketplace. Rhia is enabling this change through four complementary efforts: We make direct investments in early- and growth-stage companies that are driving innovation, access, and equity in reproductive and maternal health, through our wholly owned venture fund, RH Capital Corporation. We provide technical assistance and shared resources to these companies and others so that they can strengthen their work in health equity and spur change across the venture ecosystem. We work through our Corporate Engagement and Blossom programs to change social norms, practices, and people that influence this market. We produce a systems-change assessment of the market, identifying the key leverage points for addressing systemic racism and other inequities to inform Rhia’s programs and share with grant-makers, investors, and policy-makers seeking to “make this market work for justice,” to paraphrase Darren Walker of the Ford Foundation. Our Vision for Success Alongside our partners, our efforts will: Catalyze investment in innovation that improves equity, access, and outcomes in reproductive and maternal health care Transform systems in the reproductive and maternal health market, to redress systemic inequity and contributes to improving reproductive and maternal health outcomes for women of color, low-income women, and others directly affected by systemic inequities Amplify the perspectives and work of stakeholders of color Strengthen social norms, to support high-quality maternal and reproductive health care for all women and birthing people in the US

We transform oral health by validating and scaling innovative solutions that can make oral health and health care more accessible, equitable, and integrated. Our Motivation For too long, oral health innovation has trailed overall health care advancement, especially for underserved and under-resourced populations. We are committed to changing that. We are transforming oral health and overall health by bringing new solutions to the communities that need them most. Our Role We evaluate and propel high-impact, mission-aligned solutions. We help scale validated concepts by anticipating and managing barriers to adoption and providing the insights, connections, and resources to maximize their reach and measurably improve people’s lives. Our Roots Joined by the mission to improve the oral health of all, CareQuest Innovation Partners is a for-profit subsidiary company of the nonprofit, CareQuest Institute for Oral Health.

Pivotal Ventures (“Pivotal”) is an investment and incubation company created by Melinda French Gates. We partner, invest, and advocate to remove barriers that hold people back, concentrating on areas where progress and opportunity have stalled for millions of Americans. The pursuit of a more equal and equitable United States - not just for some of us, but for everyone - is what drives us forward. It's the why behind every problem we tackle. We approach partnership with big ambitions and open minds, embracing what’s already working and innovating beyond traditional philanthropy. Some areas we focus on: women in technology and innovation; Women in public office; women and girls of color; adolescent mental health; paid family and medical leave; and caregiving. Inspired by our founder, we reach across communities and sectors to bring together changemakers who can scale up proven ideas and catalyze new ones. We learn from their experiences, amplify their resources, then step back so they can lead. Our impatience with the status quo is fueled by an optimism that progress is always possible.