# Zaffre Investments

Zaffre Investments is a Private Equity based in Boston, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Boston, United States
- **Region:** North America
- **Address:** Boston, MA, United States
- **Founded:** 2014
- **Assets under management:** Undisclosed
- **Website:** www.zaffreinvestments.com
- **LinkedIn:** https://www.linkedin.com/company/zaffre-investments

## Regulatory record

- **Reports private funds:** No

## About

Zaffre Investments is a wholly-owned subsidiary of Blue Cross Blue Shield of Massachusetts. It is based in Boston and has made 25 investments. Zaffre's latest investment was in InfoBionic as part of their Series D on October 09, 2023.

## Sectors

- Digital Health
- Healthcare Services
- Health Equity

## People

- Michele Courton Brown — Managing Director
- Jazmine Coleman — Director
- Flora Yu — Senior Manager

## Questions

### Who runs investment decisions at Zaffre?

Managing Director Michele Courton Brown leads the investment function, supported by Director Jazmine Coleman and Senior Manager Flora Yu. The firm's website lists these three as the public-facing investment team. Brown's background is in health care finance, and the firm describes its collective professional experience at over 200 years across health care, finance, and investment.

### How does Zaffre source and accelerate early-stage health-tech deals?

Zaffre runs a proprietary Health Equity Business Accelerator launched in 2021 that funds and mentors equity-focused health care startups, pairing financial backing with strategic guidance. Beyond the accelerator, the firm sources innovations it can pilot directly inside the health plan's operations, targeting five to seven new pilot integrations per year. This embedded distribution model gives portfolio companies a fast track to enterprise adoption, compressing the typical health-plan sales cycle.

### Which sectors does Zaffre explicitly avoid?

Zaffre's published portfolio and mandate reveal a deliberate exclusion of non-health-care sectors; the firm's investment strategy and website content focus entirely on care delivery, access, affordability, and equity within the health care ecosystem. There is no indication of investments in fintech, enterprise SaaS, or industrial tech outside of health care applications. Deals that cannot integrate operationally into a regulated insurance value chain — claims data, provider networks, member engagement — appear outside the mandate.

### What is the relationship between Zaffre and Blue Cross Blue Shield?

Zaffre Investments is the strategic venture entity for a Blue Cross Blue Shield health plan, leveraging the payor's infrastructure to deploy and scale portfolio technologies. The firm uses the plan's membership base — cited as '3M+ lives' on Zaffre's website — as a pilot environment for startups. This relationship makes Zaffre's capital 'strategic' rather than purely financial, since every investment must map to the parent plan's operational needs.

### What investment stages does Zaffre target?

Zaffre covers the full spectrum from seed and start-up stage through expansion and late-stage growth, categorized as General Venture. The firm's own description specifies 'funding for innovators across the growth trajectory,' and Altss records confirm active deployment across early-stage and late-stage venture. Investment size ranges are not publicly disclosed.

## Related profiles

- [Zacua Ventures](https://altss.com/profile/zacua-ventures)
- [Zag Capital](https://altss.com/profile/zag-capital)

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Last updated: 2026-06-03T20:00:00.000Z

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