Kaiser Permanente Ventures

Liz Rockett, Managing Director, has led the firm since 2013. She joined from a healthcare growth equity background and oversees a lean investment team. All investment decisions are made internally by the KP Ventures team, with input from Kaiser's clinical and operational leaders. Rockett reports into Kaiser's broader finance and strategy organization.

The firm sources through Kaiser's clinical network, physician referrals, and relationships with health-tech entrepreneurs. Because the firm can offer pilot-program access inside a 12.7-million-member system, many founders approach KP Ventures early. The clinical validation pathway acts as a sourcing magnet.

KP Ventures does not publicly maintain a formal exclusion list. In practice, the firm avoids therapeutics, biopharma, and medical devices that lack a clear line of sight to integration with Kaiser's care-delivery model. The focus stays on digital health, healthcare IT, services, and select diagnostics.

The firm functions as a bridge between startups and Kaiser's medical groups. Portfolio companies can access de-identified clinical data, physician feedback, and pilot programs inside Kaiser hospitals. This operational integration is the core differentiator — the firm is not a passive financial investor.

Yes. Livongo Health, a digital chronic disease management company that KP Ventures backed, was acquired by Teladoc for $18.5 billion in 2020. Health Catalyst, another portfolio company, went public in 2019. Both exits validated the firm's thesis of investing in companies that align with value-based, integrated care models.