STAT+: How CVS is tapping into its consumer expertise in a new venture fund

CVS Health recently expanded its investing efforts with the launch of the CVS Venture Fund, a $100 million vehicle to provide promising upstarts with access to CVS’ wealth of financial and strategic expertise and generous physical footprint.

While the retail and pharmacy giant had previously backed more than 20 upstarts through a partnership between CVS Pharmacy and Aetna Ventures, it was spurred to create the new fund after seeing how the pandemic changed in health care delivery, including the rise of digital pharmacies and increasing interest in at-home testing and treatment, Josh Flum, CVS’ executive vice president of enterprise strategy and digital, told STAT.

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STAT+: How CVS is tapping into its consumer expertise in a new venture fund

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