Investment Criteria

The California Health Care Foundation (CHCF) supports the implementation and evaluation of innovative approaches to improve health care. CHCF has developed an investment fund to support health care technology and service companies with the potential to significantly improve quality of care, lower the total cost of care, or improve access to care for low-income Californians.

Investment Stage and Range

The CHCF Health Innovation Fund will consider these investment stages and ranges:

  • Existing product or service in active use with at least one customer
  • Demonstrated customer interest in California
  • Initial investment of $500,000 to $1,500,000
  • Capital-efficient business models

Investment Criteria

  • Significant Impact: Provide new or more timely access to 100,000 Californians and/or deliver $25M in annual cost savings to the California health care system
  • Strategic Alignment: Demonstrate a clear connection to CHCF's mission to dramatically improve quality, lower total cost of care, and/or improve access to care for low-income populations
  • Experienced Management Team: Employ a CEO and management team with a proven track record or the ability to attract such a team
  • Scale and Sustainability: Leverage business models that show potential significant growth and scale

CHCF does not invest in companies primarily focused on healthy food, fitness, pharmaceuticals, or biotech.

CHCF does not invest in medical devices that require Class II or Class III FDA approval. Those that require Class I approval should be within 12 months of approval and should have strong clinical data.


CHCF looks for opportunities where we can add value through knowledge of and relationships with networks of providers, payers, and policymakers in California, and through our expertise in policy, finance, and reimbursement. CHCF staff specialize in new models of care delivery for high-cost populations, behavioral and mental health, delivery system and payment reforms, and the Medi-Cal program overall.

To Apply

Please submit:

  1. A brief description of the business concept, the market need and problem solved, how the organization will improve access to or lower the cost of care, and how the innovation will benefit the people of California.
  2. A business plan, including marketing and sales strategies, technology plan, organization and staffing plan, three- to five-year capital financial projections, and funding requirements.
  3. Resumes of the founders and management.

Submit your application for the CHCF Health Innovation Fund to Only complete applications will be reviewed. Your information will be kept confidential.

You will be informed within four to six weeks as to whether further review will be undertaken and what additional materials may be required. The full review and approval process can take three to six months, as all PRIs will undergo extensive due diligence and must be approved by the CHCF board of directors.

Remember that PRIs are financial obligations that require full compliance and repayment in accordance with the agreed-upon terms and conditions. The decision to approve and fund a PRI is solely within the discretion of the foundation. This information does not constitute a promise to fund.

For more information, email CHCF staff will not accommodate requests to discuss proposals that have not been submitted to this email address.