HCF: AUSTRALIA’S FIRST CORPORATE TO BACK HEALTH,FITNESS & WELLNESS FOCUSED VENTURE FUND
- HCF announces cornerstone investment in XT Ventures
- Venture Capitalist fund the first in Australia to focus exclusively on startups in sport, fitness, wellness and health sector
- Investment to be made through HCF Catalyst, Australia’s first corporate supported health tech accelerator, with a strong track record of supporting more than 80 health startups over six years
- Strategic investment will support important innovation in the health sector
MONDAY May 2, 2022: HCF has announced it will be the first Australian corporate to formally back XT Ventures, the nation’s first venture capitalist fund exclusively for startups in the sport, fitness, wellness and health sector.
The investment will help XT Ventures to play a pivotal role in improving the health of Australians through innovative health-focused technology businesses.
The cornerstone investment will be made through HCF’s Catalyst, Australia’s first corporate supported health tech accelerator program. For six years Catalyst has backed more than 80 of the country’s most pioneering start-ups and scale-ups in the health space to transform their innovative health and wellness ideas into investment-ready businesses.
HCF CEO Sheena Jack said innovation was critically important to supporting the health of Australians.
“At HCF, the health of Australians is our priority. That’s why we are always looking at ways to foster innovation within the healthcare system; we need disruptors to push the boundaries and through this investment we’re able to support that growth,” Ms Jack said.
“There’s a really strong link for HCF and our members in terms of preventative healthcare and the types of startups that XT Ventures will invest into do really innovative things to help Australians improve their overall health and wellbeing.”
XT Ventures Managing Partner Craig Lambert said the thematic fund was pleased to welcome HCF as its cornerstone investor.
“The global pandemic has accelerated digital adoption particularly in the sport, fitness, wellness and health sectors, so the time is right for both the fund and our investors to shape the futurein this space,” Mr Lambert said.
“HCF has a really deep pedigree in helping innovative startups. Together with HCF’s knowledge of the healthcare system we look forward to supporting innovations that can change the trajectory of the health of Australians.”
Media Enquiries: Rebecca Page 0439130400 firstname.lastname@example.org
Images can be downloaded from the following link for media use only: https://www.dropbox.com/sh/tnzu3vlvatn7syq/AABXhrlYPuX7eO2fIe6DOiwka?dl=0
Please attribute images to HCF/Billy Ryan. Pictured are HCF CEO Sheena Jack and XT Ventures Managing Partner Craig Lambert with the Vitruvin, a strength and full body multi-level workout machine that adapts to the user with real-time technology, an example of the type of innovative new technology the Fund may be receiving investment applications from.
HCF, Australia’s largest not-for-profit health fund protecting Australians since 1932, covers more than 1.8 million members with health and life insurance, and travel and pet insurance. On average over the last five years, HCF has paid out more cents in every dollar in premiums to members as benefits than the industry average. To learn more about HCF go to hcf.com.au/about-us
ABOUT XT Ventures
XT Ventures is a venture capital firm investing at the intersection of Sport, Fitness, Wellness and Health –an integrated community primed to take advantage of emerging technologies, Web3, Blockchain, NFT’s, the Metaverse together with AI, IoT, Machine Learning and 5G.
By supporting its portfolio companies, XT Ventures will provide the fund and its investors an opportunity to shape the future.To find out more, visit: xtventures.com