Wellness and sport-focused VC XT Ventures launches with $5 million from health fund HCF

- May 3, 2022 2 MIN READ
XT Ventures managing partner Craig Lambert and HCF CEO Sheena Jack
A new venture capital fund, XT Ventures, led by Craig Lambert, founder of corporate innovation firm Slingshot, is on the hunt for startups in the sport, fitness, wellness and health sectors, with backing from health fund HCF.

HCF’s tipped in a $5 million cornerstone investment in the XT Ventures High Performance Fund I, LP, through its health tech accelerator HCF Catalyst. The strategic investment is designed to support key innovation in the health sector. Catalyst has already backed more than 80 startups in the health space over the last six years.

HCF CEO Sheena Jack said the investment will help XT Ventures to play a pivotal role in improving the health of Australians through innovative health-focused technology businesses.

“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 is the country’s first VC fund exclusively for startups in the sport, fitness, wellness and health sector. Managing Partner Craig Lambert said the fund will hunt for startups at the intersection of its four key wellness priorities that are primed to take advantage of emerging technologies such as Web3, Blockchain, NFT’s, and the Metaverse together with AI, IoT, machine learning and 5G.

“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,” he said.

“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.”

Lambert spend nearly a decade as founder and CEO of Slingshot, and counted HCF among his clients, along with News Corp, Qantas, and Caltex, becoming managing partner of XT Ventures in October last year.

Areas of interest for XT Ventures include connected devices, fitness equipment and apps, wearables and trackers, smart equipment and apparel, digital and AI coaches, data and analytics.