HCF has become the first Australian company to formally back the country's first venture capital fund exclusively for startups in the sport, fitness, wellness and health sector.
The investment in XT Ventures is being made through HCF’s Catalyst.
Catalyst has backed more than 80 start-ups and scale-ups in the health space to transform their innovative health and wellness ideas into investment-ready businesses.
HCF CEO Sheena Jack said innovation was critically important to supporting the health of Australians.
“At HCF, the health of Australians is our priority. That’s why we are always looking at ways to foster innovation within the healthcare system; we need disruptors to push the boundaries and through this investment we’re able to support that growth,” she said.
“There’s a really strong link for HCF and our members in terms of preventative healthcare and the types of startups that XT Ventures will invest in to do really innovative things to help Australians improve their overall health and wellbeing.”
XT Ventures managing partner Craig Lambert said the thematic fund was pleased to welcome HCF as its cornerstone investor.
“The global pandemic has accelerated digital adoption particularly in the sport, fitness, wellness and health sectors, so the time is right for both the fund and our investors to shape the future in this space,” said Mr Lambert.
“HCF has a really deep pedigree in helping innovative startups. Together with HCF’s knowledge of the healthcare system we look forward to supporting innovations that can change the trajectory of the health of Australians.”