Former health insurance CEO launches VC fund, looks to raise $100M- Boston Business Journal

Winter Street Ventures has officially launched as an independent venture-capital firm under the leadership of Chris Palmieri, former CEO of Commonwealth Care Alliance (CCA). Palmieri spun out the platform earlier this year after CCA’s acquisition by CareSource, taking with him the Winter Street Ventures trademark, website, domains, and a database of like-minded entrepreneurs.

The firm, headquartered in Beacon Hill with a team of four, is now raising its first institutional fund of $100 million. The strategy is to make 10–15 Series A investments ranging from $2M to $8M, with capital reserved for follow-on rounds. Investments will focus on companies leveraging technology such as predictive analytics and AI to improve healthcare access, address social determinants of health, and enhance mental health and well-being.

Palmieri emphasized that his three decades as a healthcare executive uniquely position him to mentor founders, serve on boards, and unlock networks of customers and partners. Despite a tough fundraising environment, he expressed confidence that LPs are inspired by his track record and leadership background.

Winter Street Ventures originally began at CCA in 2016 as a lab for entrepreneurs to learn about the insurance and care delivery system. By 2018, it had begun making direct investments off CCA’s balance sheet. Now, as a fully independent firm, it will operate with the traditional venture capital structure.

Read the full article here: Boston Business Journal