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Cigna Starts $250 Million Venture Fund to Make Health-Care Bets

  • Investment arm will receive $250 million in funds from Cigna
  • Health startups drawing high interest from range of investors
Signage is displayed in front of Cigna Corp. headquarters in Bloomfield, Connecticut.

Signage is displayed in front of Cigna Corp. headquarters in Bloomfield, Connecticut.

Photographer: Michael Nagle/Bloomberg

Cigna Corp. is launching a venture fund to invest in health-care startups, committing $250 million of its own capital.

Health insurers have been starting venture-capital arms to find new ideas to improve their businesses and generate financial returns. UnitedHealth Group Inc., the biggest health insurer, said in November that its Optum unit was creating a venture arm with $250 million in funds. Humana Inc., Kaiser Permanente, and a group of Blue Cross and Blue Shield insurers all have venture units.