Blue Cross and Blue Shield of Minnesota is a non-profit organization focused on providing comprehensive health, dental, and prescription drug coverage to individuals and families across the United States. The firm typically invests in early-stage companies, particularly at the seed stage, with investment rounds averaging around $500,000 to $1 million. Their investment focus is primarily within the healthcare sector, supporting innovative solutions that enhance health and wellness.
Notable portfolio companies include Learn to Live, RetraceHealth, and Tcare, each of which has raised between $500,000 and $1 million. Blue Cross and Blue Shield of Minnesota's investment philosophy centers on fostering growth in healthcare innovation to improve patient outcomes and accessibility. The firm offers unique value-add services to its portfolio companies, leveraging its extensive network and industry expertise to provide strategic guidance and support. Key decision-makers at the firm bring a wealth of experience from various healthcare and investment backgrounds.
Blue Cross - Portfolio Snapshot
Portfolio activity breakdown across disclosed investments and stages
Top Investment Stages
Stage Mix
Concentration shown as share of disclosed investments by stage.

Blue Cross Blue Shield Association
bcbs.com

Arkansas Blue Cross Blue Shield

Blue Cross
bluecrossnc.com

Independence Blue Cross
ibx.com

Premera Blue Cross
premera.com

Blue Cross and Blue Shield of Kansas
bcbsks.com

Anthem Blue Cross Blue Shield
anthem.com

The Blue Venture Fund

Independent Health Association

Medical Mutual of Ohio
medmutual.com

Blue Cross Blue Shield of Massachusetts

Cambia Health Solutions
cambiahealth.com

EmblemHealth
emblemhealth.com

Health Care Service
Heartland Healthcare Capital