Cobalt Ventures Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Cobalt Ventures has invested in 2 companies.

Cobalt Ventures’ most common sectors for investment areinternet software and services (50%) and insurance (13%) . The Firm’s most common investment types include venture (50%) and growth capital (38%). In total, Cobalt Ventures has invested in 7 US states.

In the last 3 years, Cobalt Ventures has exited 1 company. The Firm’s most common exit type is trade sale (100%). Cobalt Ventures’ largest (disclosed) exit occurred in 2022 when it sold Rx Savings Solutions for $875M.

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M&A Summary

  • M&A Total Activity10
    • M&A Buy Activity8
    • M&A Sell Activity2
  • Total Sectors Invested 5
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 7
  • M&A Advisors 1

Cobalt Ventures

Cobalt Ventures LLC

4900 Main Street, Suite 620,
Kansas City, Missouri 64112
United States
(816) 823-6737
www.cobalt-ventures.com
info@cv-kc.com

Cobalt Ventures is the private equity investment arm of Blue Cross and Blue Shield of Kansas City. The Firm looks to invest $10 to $75 million (majority or minority positions) to support scalable, high-growth healthcare companies that are seeking to increase the overall quality of healthcare services, improve outcomes and lower costs for customers and members. Specific areas of interest include home healthcare/hospice, outpatient services, telehealth, pharmaceutical distribution, and tech-enabled healthcare services. Cobalt Ventures is based in Kansas City, Missouri.


Investment Criteria

Sectors of Interest: Healthcare Services, Information Technology, Internet Software and Services, Life Science, Medical Products, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Venture

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 10 75
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.8/yr) # 4 2 2 - - - 8
Sell (0.2/yr) # 1 - - 1 - - 2
vol $875M $875M
  10

Most Recent M&A

Company Date Value Type
Rx Savings Solutions 2022-09-19 875M USD Trade Sale
Overland Park, Kansas · www.rxss.com
Trainer Rx, Inc. 2021-09-14 - Venture
Walnut Creek, California · www.recoveryone.com
Concord USA LLC 2021-04-06 - Growth Capital
Hopkins, Minnesota · www.concordusa.com
Bardavon Health Innovations, Inc. 2020-11-25 - Venture
Overland Park, Kansas · www.bardavon.com
Nymbl Science, Inc. 2020-11-05 - Venture
Denver, Colorado · www.nymblscience.com
MEDVAL LLC 2019-03-21 - Trade Sale
Columbia, Maryland · www.medval.com
Rx Savings Solutions 2017-11-27 - Growth Capital
Overland Park, Kansas · www.rxss.com
Solera Health, Inc. 2017-07-12 - Venture
Phoenix, Arizona · www.soleranetwork.com
MEDVAL LLC 2016-04-14 - Buyout (LBO, MBO, MBI)
Columbia, Maryland · www.medval.com
Cedar Gate Technologies LLC 2014-08-14 - Growth Capital
Greenwich, Connecticut · www.cedargate.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 4 (67%) - 4 (50%) -
Information Services 1 (17%) - 1 (13%) -
Information Technology 1 (17%) - 1 (13%) -
Insurance - - 1 (13%) -
Software - - 1 (13%) -
Total 6 - 8 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 6 (100%) - 8 (100%) -
  Kansas 1 (17%) - 2 (25%) -
  Connecticut 1 (17%) - 1 (13%) -
  Colorado 1 (17%) - 1 (13%) -
  California 1 (17%) - 1 (13%) -
  Arizona 1 (17%) - 1 (13%) -
  Minnesota 1 (17%) - 1 (13%) -
  Maryland - - 1 (13%) -
Total 6 - 8 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Venture 4 (67%) - 4 (50%) -
Growth Capital 2 (33%) - 3 (38%) -
Buyout (LBO, MBO, MBI) - - 1 (13%) -
Total 6 - 8 -

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 1 (50%) 875M (100%)
Trade Sale 1 (50%) -
Total 2 $875M

Top M&A Advisors

Financial Deals
Bailey & Company
1

Deal Values

sell # Total
$100M to $1B 1 $875M
TOTAL $875M
Largest Rx Savings Solutions
$875M (2022-09-19)

M&A Connections

Deals
Exited to
Strategic(s)
100%
2 (100%)

FAQ

What type of investor is Cobalt Ventures?

Cobalt Ventures is a private equity firm.

Where is Cobalt Ventures headquartered?

Cobalt Ventures is headquartered in Kansas City, Missouri.

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