ISA Ventures to manage the investment fund.
(DES MOINES, IA – Sept. 29, 2022) – CareSource, a nationally recognized nonprofit health plan, today announced the launch of the CareSource Iowa Opportunity Investment Fund through a partnership with ISA Ventures, who will manage the fund.
“CareSource is committed to improving the health of Iowans for the long-term,” said Erhardt Preitauer, president & CEO, CareSource. “Establishing the CareSource Iowa Opportunity Investment Fund means we can fuel innovation across the state, as we do in our other markets, while amplifying solutions to address the toughest issues our communities face.”
CareSource will initially invest $2 million in the fund, with individual investments of as much as $500,000. The fund will syndicate alongside ISA Ventures’ direct investment and other venture funds. 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.”
ISA Ventures will source and vet companies for consideration, complete due diligence and recommendation investments to a committee composed of representatives from CareSource. Investment decisions will be made by CareSource.
The CareSource Iowa Opportunity Investment Fund is just one of the initiatives CareSource has launched to support the health of Iowans. Along with providing comprehensive health care coverage through their Marketplace product, the CareSource Foundation has awarded $165,000 to multiple Iowa community-based organizations through a grant challenge.
Companies interested in being considered for investment from this new fund can apply at isaventures.com/caresource or for more information, contact firstname.lastname@example.org.
About ISA Ventures
ISA Ventures is the first multi-stage venture capital studio in Iowa. Located in Cedar Rapids, the fund invests up to $1 million in early-stage, rapid growth, and later-stage companies, positioning them for growth and exit. Its professional management team vets deals across all industries, with a preference for technology companies in biotech, healthcare, education, engineering & automation, agriculture, food & bioprocessing, insurance & finance, and transportation & logistics.