Big health-insurance company and major health-care foundation among lead investors in Invest Appalachia venture-capital fund
Kentucky Health News
Two big players in health care are the major financiers of a venture-capital firm that calls itself “a regional social investment platform” for Eastern Kentucky and most of Appalachia. Invest Appalachia says it “has secured $19 million of new investment” and is already investing in projects.
Andy McMahon, a vice president of UnitedHealth, said, “Advancing health equity and addressing social needs like housing and access to health care in rural and underserved areas is an integral part of making the health-care system better for everyone. We are fortunate to work with partners like Invest Appalachia, who really understand the rich culture of Appalachia and are creating new ways to address community needs to improve quality of life and health.”
Zoila Jennings, impact investment lead with the foundation, said “Invest Appalachia is pioneering regionally controlled creative capital solutions in Appalachia that support inclusive economic growth for the region and offer new opportunities for national investors. We see the Invest Appalachia Fund as an innovative model for foundations and other impact investors who want to get capital to the people and places that need it most.”