Providence Spins Out Providence Ventures as Allumia Ventures; Providence Commits $150 Million to New Fund

Providence spun out its venture arm, renaming it Allumia Ventures and making it an independent VC firm; Allumia closed its third fund with Providence committing $150 million. Allumia plans to invite 3–5 other health systems to join as limited partners to expand its investor base and partnerships.

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