The California HealthCare Foundation (CHCF) has launched a $10m angel investment fund targeting nonprofit organizations and for-profit companies with innovative services, devices, and technologies that can significantly reduce costs and improve access to care in California.
The CHCF Health Innovation Fund will provide funding at all stages, with a primary focus on early development, including seed rounds as small as $50,000; total investment of up to $3m will be available over the life of an organization/company.
Commenting on the launch of the new vehicle, Mark D. Smith, M.D., M.B.A., president and CEO of CHCF, said: “By creating an investment fund, we can engage a broader range of organizations and entrepreneurs in innovating to lower cost and improve access to care”.
The fund is now soliciting proposals from the obeve mentioned organizations. Requirements for proposals and instructions on how to apply are available at www.chcf.org/pri.