Life Science Cares Boston launches Health Equity Portfolio Co-Investment Program as part of Anti-Poverty Strategy for Greater Boston

[Cambridge, MA June 3, 2024] — Life Science Cares Boston (LSC Boston), an anti-poverty nonprofit organization rooted in the life sciences, is proud to announce the launch of a new grantmaking program aimed at addressing health inequities among low-income families and communities in the Greater Boston area.

Since 2016, LSC Boston has leveraged the talent, passion, and community investments of the life science industry to fight poverty and provide a platform for the city’s leading industry to make a difference in the community. Through leveraging partnerships with life science companies and executives, LSC Boston has granted nearly $10 Million to 85 nonprofits providing access to Basic Needs, Education, and Economic Opportunity.

LSC Boston is now expanding their commitment to disrupt the cycle of poverty by launching a new Health Equity program that invests in nonprofits improving health and wellness across three areas: Safe Homes & Vibrant Communities; Access to Equitable, Dignified Care; and Advocacy and Civic Wellness. Through this initiative, LSC Boston will provide crucial support to organizations delivering innovative, community-based solutions that improve health outcomes and foster vibrant, resilient communities.

K2 HealthVentures, an alternative investment firm that provides flexible, long-term financing solutions in the life sciences and healthcare industries, has partnered with LSC Boston as the seed funder for this initiative.

“We are proud to join Life Science Cares Boston in their mission to create a healthier, more equitable Boston. K2 HealthVentures was built on the idea of ‘profit with a purpose’ and since our founding, giving back to our community and supporting underserved areas in healthcare has been core to our work,” said Parag Shah, Founding Managing Director & CEO of K2 HealthVentures. “This investment exemplifies the power of collaboration between the private sector and nonprofit organizations to address complex societal challenges. We are grateful for the opportunity to partner with Life Science Cares Boston to support our shared passion for improving outcomes for those most in need.”

In recognition of their innovative vision and commitment to disrupting the cycle of poverty in Greater Boston, K2 HealthVentures was awarded the 2024 Luke Timmerman Impact Award by Life Science Cares Boston.

“This work will be a new focus of our work at Life Science Cares Boston,” said Yvonne Spicer, EdD, Executive Director of LSC Boston. “Through this pilot program, we hope to show our ability to make a significant collective impact on health outcomes and promote social justice in our community.”
LSC Boston invites potential investors and philanthropic partners to join in this critical effort to address health inequities and create a healthier, more equitable future for all.

Nonprofit organizations interested in applying for grants can expect a transparent and structured process, with grants ranging from $15,000 to $75,000 per year, to provide unrestricted funding, awarded in two-year increments.

“The reality is that income and health are inextricably linked,” said Kelly Brawn, PhD, Head of Programs and Community Engagement at LSC Boston. “I’m incredibly proud of the impact we have and continue to make, but it is clear that we can—and therefore must—do more to disrupt the pernicious cycle of poverty. Investing in creative solutions that improve the health of our neighbors will allow us to do just that.”

From ensuring high-quality maternal health to disrupting systems that perpetuate the cycle of poverty to providing equal access to green space, this new program allows us to reach further into our community and support more of our neighbors in need.

For more information on how to apply or become a co-investor, please visit www.lifesciencecares.org/health-equity

Life Science Cares (LSC) activates the financial and human capital of the life sciences industry and partners with nonprofits to disrupt the cycle of poverty and inequality in our communities. LSC was founded to move the needle on issues of poverty, while helping companies build connections with the community and internally between employees.