Russell Street Ventures

Brad Smith founded the firm in 2020. Smith previously served as Administrator of the Centers for Medicare & Medicaid Services and director of the Center for Medicare and Medicaid Innovation, and he co-founded palliative care provider Aspire Health, which was acquired by Anthem in 2018. His background in value-based care policy and operations directly informs the firm's company-building approach.

The firm does not invest in external startups — it creates companies internally. Russell Street Ventures identifies gaps in healthcare delivery for underserved populations, forms legal entities, hires management, and provides operational support and capital directly. This company-creation model gives the firm control over strategy and execution from day one.

The firm targets value-based care delivery models for complex, underserved patient populations. Confirmed investments span rural primary care (Main Street Health), home and community-based services management (CareBridge), and specialty care consolidation (Russell Street Dermatology). The common thread is risk-bearing care models for Medicaid, Medicare Advantage, and dual-eligible populations.

Main Street Health is a Russell Street Ventures-incubated company focused on bringing value-based care to rural primary care practices across the United States. Brad Smith co-founded the business, and Russell Street Ventures provided the initial capital and operational architecture. In 2023, Main Street Health raised $315 million from outside investors including Oak HC/FT (per TechCrunch, 2023).

The firm does not publicly disclose AUM. It does not appear to operate as a traditional fund with limited partners — its permanent capital structure and company-building model make standard AUM comparisons less relevant. Deployment figures are not publicly reported.