CareSource, a nonprofit managed care organization, announced Wednesday the launch of the CareSource Iowa Opportunity Investment Fund through a partnership with ISA Ventures, which will manage the fund. According to a news release, this new fund will provide capital for Iowa-based startups that seek to improve health care outcomes, promote health equity and generate positive social impact, especially for underserved populations and those with complex care needs.
“This is a big step forward for Iowa’s startup ecosystem, bringing more resources – not just capital, but also the expertise that a national leader like CareSource has – to entrepreneurs in Iowa,” said Eric Engelmann, ISA Ventures’ general partner. “These investments will create new jobs and opportunities for Iowans, while also making an impact on our state’s vulnerable populations.”
CareSource will initially invest $2 million in the fund, with individual investments of as much as $500,000. ISA Ventures will source and vet companies for consideration, and CareSource will make investment decisions. CareSource will be adding Iowa as a state where it offers insurance through the Health Care Marketplace in 2023, according to a spokesperson.
Companies interested in being considered for investment from this new fund can apply at isaventures.com/caresource. For more information, contact hello@isaventures.com.