CVS Health Ventures

CVS Health Ventures is the venture capital arm of CVS Health. It describes itself as a dedicated corporate venture capital fund that works with high-potential, early-stage and growth-stage companies focused on making health care more accessible, affordable, and simple.^[1],[2]

CVS Health Ventures says it focuses on investments that transform care delivery and focus on whole person care, consumer-centric health, and disruptive technology enablement. Managing partner Vijay Patel has said the team does not invest in therapeutics but sees a growing opportunity in the infrastructure needed to deliver, distribute and manage expensive drugs.^[2],[3]

CVS Health Ventures' original venture fund wrote cheques of $3m to $10m into early-stage companies in areas such as consumer health and care delivery, according to Global Venturing. The growth equity vehicle added later can write $100m cheques if needed.^[4],[3]

In the 18 months before Global Venturing's profile of the unit, CVS Health Ventures began investing in companies whose technologies originate outside health care but could address its problems, such as Simile, a digital twins company.^[3]

Global Venturing reports that CVS Health Ventures can introduce portfolio companies to relevant CVS Health business units, but commercial contracts are not guaranteed.^[3]

CVS Health Ventures was announced in April 2021 as a $100m vehicle. Vijay Patel told Global Venturing that CVS Health was the only large major healthcare organisation without a venture unit, so he pulled together a proposal and got the initial allocation.^[3],[4],[5]

Patel was a partner when CVS Health Ventures was set up and moved up five months later to replace Jason Hawbecker, who moved to Biogen.^[4]

CVS Health Ventures added a growth vehicle after its first year. Patel said the team saw opportunities that did not sit in the original fund and expanded the model to support larger opportunities.^[4]

In a profile published Sep 4, 2026, Global Venturing described CVS Health Ventures as a platform managing around 40 portfolio companies across several strategies, with a team that had grown to 26 people.^[3]

CVS Health Ventures has widened from early-stage venture investing into growth equity, fund-of-funds activity, portfolio management and the oversight of minority investments inherited from businesses CVS acquired, including Aetna, Caremark, Signify and Oak Street.^[3]

CVS Health Ventures now leads or co-leads a significant percentage of its deals, takes board observer and director positions and has dedicated portfolio management capabilities, where it previously made relatively small investments as part of syndicates. Four senior leaders oversee its principal strategies: early-stage venture, growth equity, market development, and strategic investments and deal structures.^[3]

CVS Health Ventures announced its first vehicle at $100m in April 2021. The original venture fund's allocation has since been expanded to $150m, funded on an evergreen basis, with returns from any exits funnelled back into the fund.^[4],[3],[5]

CVS Health Ventures also has a growth equity fund that can write $100m cheques if needed, according to Global Venturing. A later profile says CVS Health was allocated a second, growth equity fund a year in.^[4],[3]

Alyssa Reisner, a partner at CVS Health Ventures, leads investments in early-stage and mid-stage digital health companies through a $150m fund, according to Global Venturing's Rising Stars profile.^[5],[4]

The press-release boilerplate that describes CVS Health Ventures gives no fund size, vintage or return figures, so the fund amounts above rest on Global Venturing's reporting. None of the sources reviewed reports an exit or a return.^[2],[6]

CVS Health Ventures is led by Vijay Patel, its SVP, cofounder and managing partner. Patel joined CVS Health's Boston Digital Innovation Lab in 2015, where he led efforts to develop strategic partnerships with and investments in digital health and technology companies. Before joining CVS Health, he worked as an investment professional at HIG Growth Partners and Bain Capital.^[3],[7]

Alyssa Reisner is a partner and executive director at CVS Health Ventures. She moved from strategic partnerships at CVS Health to the ventures team in 2021, and CVS Health Ventures has invested in startups such as Vita Health, Waymark and Oshi Health.^[5]

Justin Brock and Carter Prince are partners at CVS Health Ventures. Brock is quoted as Executive Director and Partner on the Wayspring deal, and Prince as Partner on the Fathom and Baba deals.^{[8],[2],[1],[9]}

Bryna Coyle joined CVS Health Ventures as an investor on the growth equity team, where she seeks later-stage companies that provide strategic value to the business and that CVS Health can support with growth capital. She previously worked at The Blue Venture Fund and Sandbox Industries.^[10]

Kyle Yamaguchi left his role as an associate at CVS Health Ventures to become vice president of partnerships and growth strategy at Attune. There he supported portfolio management, due diligence and deal work.^[11]

CVS Health Ventures led a $35M Series C for Codoxo, announced on December 17, 2025. Codoxo said the round brought its total funding to over $75 million, and Echo Health Ventures joined as a new investor.^[6]

CVS Health Ventures led a $25 million round for obesity care company knownwell, reported on October 24, 2025, which brought knownwell's total funding to over $50 million.^[12]

CVS Health Ventures led a $40M investment in H1, announced on May 28, 2026. The investment follows joint projects with CVS Health, including a new model that improved provider directory accuracy.^[2],[3]

CVS Health Ventures led a $40 million Series D extension for Cortica on Oct. 3, 2023, bringing the total Series D round to $115 million. The extension was entirely strategic, with LRVHealth, Ascension Investment Management and the University of Wisconsin Foundation also taking part.^[13],[3],[9]

CVS Health Ventures co-led Ellipsis Health's $45 million Series A, announced on June 12, 2025, alongside Salesforce and Khosla Ventures.^[14]

CVS Health Ventures led a capital raise for Wayspring, a substance use disorder care entity, announced on May 21, 2024. It also announced investments in WellBe Senior Medical, an in-home care provider, on Jan. 7, 2024, and in Fathom, a medical coding company, on May 4, 2026. None of the three announcements states an amount.^[8],[15],[1]

CVS Health Ventures took part in Baba's $40 million Series A, announced on Oct. 20, 2026 and led by FirstMark Capital, alongside Valtrius and returning investors General Catalyst, Genius Ventures and Ground Up Ventures.^[9],[3],[13]

CVS Health Ventures made a strategic investment in Onos Health's $17 million Series A, led by Costanoa, alongside continued participation from Flare Capital Partners.^[16]

CVS Health Ventures took part in Simile's $200 million Series B at a $2 billion valuation, led by Greenoaks, according to TechCrunch citing the startup. TechCrunch also reports that CVS is one of Simile's marquee customers.^[17]

CVS Health Ventures was among the additional investors in Strive Health's $550 million Series D, which TechTarget describes as $300 million of equity, led by NEA, and $250 million of debt financing, led by Hercules Capital.^[18]

CVS Health Ventures backed a $375m round supporting Monogram's specialty in-home care service and took part in the $100m Series D round for Carbon Health, according to Global Venturing.^[4],[7],[3]