Define Ventures Appoints Bruce Broussard as Venture Partner

Rhea-AI Summary

Define Ventures, a major venture capital firm focusing on early-stage health tech companies, has appointed Bruce Broussard as venture partner. Broussard, former CEO and president of Humana, brings extensive experience in scaling companies and fostering innovation across various healthcare sectors. His role will involve guiding founders, shaping investment strategies, and strengthening partnerships with large healthcare organizations.

Broussard's decision to join Define Ventures is rooted in his belief in the firm's unique position to transform healthcare. His appointment follows that of Frank Williams, co-founder and former CEO of Evolent, who joined as venture partner earlier this year. Define Ventures, with $800 million in assets under management, partners with companies at seed, series A, and series B stages, including notable firms like Hims & Hers and Unite Us.

Positive

• Appointment of Bruce Broussard, former Humana CEO, as venture partner
• Broussard's extensive experience in scaling healthcare companies
• $800 million in assets under management
• Partnerships with notable companies like Hims & Hers (NYSE: HIMS)

Negative

• None.

The former Fortune 50 CEO joins Define to further drive transformational change in healthcare at the earliest stages of innovation

SAN FRANCISCO, Oct. 22, 2024 /PRNewswire/ -- Define Ventures, one of the largest venture capital firms focused on early-stage health tech companies, today announced that Bruce Broussard, former CEO and president of Humana (NYSE: HUM), has joined the firm as venture partner. Bruce will play a pivotal role at Define, leveraging his invaluable experience scaling companies and fostering innovation within private startups, mid-size companies, and the Fortune 50. He will partner closely with Define founders to scale their businesses and become category-defining companies. 

Bruce is a seasoned healthcare executive and multi-time CEO, having held executive leadership positions across multiple corners of the ecosystem. Prior to joining Define, Bruce was president and CEO of Humana for over a dozen years. Under his leadership, Bruce led a strategic shift towards expanding the company into an integrated model with a growing care delivery focus. Bruce also held several roles at McKesson Specialty Health including CEO, CFO, President, and Chairman of the Board. He currently serves on the Humana Foundation Board, is Chair of the Board of Directors of the Trust for the National Mall, and is a board member for HP Inc. and One Call.

"Bruce's extensive background and proven track record in leading healthcare organizations of all sizes makes him uniquely qualified to guide the next generation of health tech innovators," said Lynne Chou O'Keefe, founder and managing partner at Define Ventures. "Having had the privilege to closely partner with Bruce for the past decade, I am confident his decision to join our team will sharpen our investing theses, accelerate our partner companies' growth, strengthen our relationships with large healthcare organizations, and ultimately create a lasting impact on the broader health tech community."

Bruce is joining a team that pulls the full weight of its network and expertise to play offense and drive results, including securing early customers, shaping commercial strategies, and building high-performing teams. As venture partner, Bruce will leverage his experience driving transformative change within complex healthcare organizations to help Define founders to navigate industry challenges and scale their innovations effectively. His perspective will also strengthen Define's close partnerships with its coalition of large health systems, health plans, employers, and life sciences companies, half of which are customers of Define partner companies.

"What excites me the most about this role is the opportunity to work with brilliant, innovative entrepreneurs at the earliest stages of their journey," Broussard said. "Being able to see groundbreaking approaches from the start, and having the chance to shape products and help scale and bring them to market is truly invigorating. Ultimately, I chose to work with Define because I believe this firm is uniquely positioned and capable of driving real transformation in healthcare. The strong, trustworthy relationship we've built over the years has shown me that Define's vision aligns perfectly with my own. Together, I believe we can make significant strides in creating a healthcare system that's more efficient, more accessible, and more focused on keeping people healthy."

Bruce's decision to join Define Ventures stems from his belief that the firm is uniquely positioned and capable of transforming healthcare. He has built a strong and trustworthy relationship with Define over the past several years, including first-hand experience in incubating and spinning out Cohere Health from Humana. This collaborative history underscores the alignment between Bruce's vision for healthcare innovation and Define's strategic approach.

Define Ventures has $800 million in assets under management and partners with companies at the seed, series A and series B stages. The firm attracts leading health tech entrepreneurs with its high conviction approach, partnering with over two dozen companies including Hims & Hers (NYSE: HIMS) and Unite Us. This announcement follows Frank Williams, co-founder and former CEO of Evolent (NYSE: EVH) joining Define as venture partner earlier this year.

To learn more about Define Ventures, visit www.definevc.com.

About Define Ventures
Define Ventures is one of the largest funds focused on early-stage health tech companies. With $800 AUM, we take a high conviction approach in partnering with companies at the earliest stages. We believe the future of healthcare will be defined who bring together a deep understanding of the healthcare ecosystem paired with a technology-driven mindset. Our team was built in this vision, bringing together founders and investors who built category-defining companies and delivered $23 billion in exit value, including Livongo (LVGO), Evolent (NYSE: EVH), and Hims & Hers (NYSE: HIMS).

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SOURCE Define Ventures

FAQ

Who is Bruce Broussard and what is his new role at Define Ventures?

Bruce Broussard, former CEO and president of Humana, has been appointed as venture partner at Define Ventures. He will leverage his experience to guide health tech innovators, shape investment strategies, and strengthen partnerships with large healthcare organizations.

How much assets under management does Define Ventures have?

Define Ventures has $800 million in assets under management.

What types of companies does Define Ventures invest in?

Define Ventures partners with early-stage health tech companies at the seed, series A, and series B stages.

Who else recently joined Define Ventures as a venture partner?

Frank Williams, co-founder and former CEO of Evolent (NYSE: EVH), joined Define Ventures as a venture partner earlier this year.