DRIVe Ventures will work with corporate venture capital partners to invest in promising products, driving them to the marketplace to transform and enhance national health security.

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BARDA DRIVe seeks your feedback on a potential new novel public-private partnership that leverages venture capital practices and methods to disrupt the way BARDA invests in health security innovation

BARDA’s DRIVe is pleased to announce the expansion of its market research effort to identify potential partners and capture feedback to support its newest novel public-private partnership, DRIVe Ventures. The release of the DRIVe Ventures request for information (RFI), is a key component of BARDA’s Medical Countermeasure Innovation Partnership (MCIP) enabled in the 21st Century Cures Act. DRIVe Ventures will be responsible for establishing and managing a venture capital fund dedicated to the development of a portfolio of innovative medical countermeasure products and technologies to address systemic healthcare challenges that impact our response to influenza, emerging infectious diseases, and chemical, biological, radiological and nuclear (CBRN) threats. DRIVe Ventures, through a third-party non-profit fund, will provide dilutive investment into promising health security products and technologies to enhance national health security preparedness and response. The MCIP initiative is a key priority of ASPR and BARDA, helping to ensure we fulfil our mission to save lives and protect Americans from 21st century health security threats.

DRIVe Ventures will have the ability to leverage “venture capital practices and methods,” similar to a corporate venture capital model. It will identify, invest-in, and promote the development of innovative medical countermeasures and address systemic challenges to ensure medical countermeasures are accessible when and where needed to enhance national health security.

DRIVe Ventures seeks to link innovators and investors, leveraging partnerships and resources to address strategic needs of the federal government. By combining the forces of ASPR and BARDA with the ingenuity and experience of the venture capital community, DRIVe will accelerate the development of critical lifesaving medical countermeasures to increase the preparedness posture of the United States.

BARDA DRIVe wants to hear from the venture capital community, including, but not limited to, venture capital firms, corporate venture capital, impact venture capital funds, and non-profit strategic investors with experience identifying promising innovative products and technologies. If your team has experience leveraging venture capital practices and methods, respond to the RFI by March 4, 2019, 5:00pm ET.

The RFI is available on or you can read it below.


What is the expected size of the fund over its lifetime?

While the size of the fund will ultimately be subject to availability of appropriated funding, we are exploring the possibility of a fund size of $200 Million. However, we are seeking feedback on the appropriate size to ensure success.

Will the DRIVe Ventures fund manager be responsible for sourcing deals and leading funding rounds?

The 3rd party non-profit entity managing the fund will be expected to implement commonly employed venture capital methods and practices. It is expected that would include sourcing deals and participating as a lead investor in a series. That may also entail acting as a co-investor in a syndication round when there may be a lead investor other than DRIVe Ventures.

Does DRIVe Ventures have a compensation model in mind for the fund management company/team?

We are interested in receiving industry feedback on potential compensation models that promote success of the fund through the ability to attract top talent that will result in a return on preparedness and a return on capital. Ultimately, BARDA must ensure that the model conforms to federal laws and regulations.

Can your team:

  • Lead a Venture Fund,
  • Identify and Invest in promising Health Innovations, and
  • Leverage your Venture Capital experience to Protect Americans?

We need your input!

DRIVe (Division of Research, Innovation, and Ventures) was established by the Biomedical Advanced Research and Development Authority (BARDA), part of the Assistant Secretary for Preparedness and Response (ASPR), within the United States Department of Health and Human Services (HHS).