Trinnovate Ventures

Trinnovate Ventures is the innovation-acceleration and corporate venture arm of Blue Cross Blue Shield of Arizona (AZ Blue), founded in 2015 and based in Phoenix, Arizona. As a wholly owned subsidiary of the health insurer, its mandate is to improve quality of life for customers and communities by investing in healthcare-related innovations that increase efficiency, enhance quality and improve the overall healthcare experience. The firm focuses squarely on the healthcare sector, including areas such as clinics and outpatient services, healthcare technology systems and diagnostic equipment, and it has made roughly eight investments to date, typically as a co-investor. Beyond pure financial investment, Trinnovate has pursued strategic ventures, including Aco Partner, a joint venture with healthcare company McKesson that offered services around care management, population-health technology and physician engagement. Notable portfolio companies include Valera Health, a virtual behavioral-health provider in which Trinnovate participated in a Series B round in October 2022, MedMinder and VisionGate. The firm was led by CEO Dr. Vishu J. Jhaveri. As a strategic, insurer-backed corporate vehicle rather than a traditional fund manager, Trinnovate does not publicly disclose a formal fund size, and its investing is oriented toward companies whose innovations align with AZ Blue's mission of advancing health outcomes and affordability for its members. By pairing capital with the strategic priorities of a regional health insurer, Trinnovate Ventures backs healthcare technology and services that improve efficiency, quality and the patient experience.