J&J Impact Venture: Investing in Brazilian Healthcare Access

According to Johnson & Johnson (J&J), healthcare in Brazil is shaped by a combination of systemic challenges and emerging opportunities for innovation. 

The country is facing fragmentation of providers and health data, uneven distribution of the health workforce and structural imbalances between public and private systems. 

Infrastructure gaps, particularly in rural areas, are also said to further limit access to timely, high-quality care.

At the same time, these challenges are driving the development of new technologies and care models aimed at underserved populations.

Structural challenges in Brazilian healthcare

Healthcare in Brazil faces persistent issues that affect access and quality of care. 

Fragmentation across providers and health data systems makes coordination difficult, while the health workforce is unevenly distributed across regions. 

In addition, there are imbalances between public and private healthcare systems. 

Infrastructure deficiencies, especially in rural areas, contribute to long delays and limited access for many patients seeking treatment.

“Excited to share our latest investment in DNA Capital - supporting innovative companies in Brazil that are accelerating access to healthcare,” writes Dana Deardorff, Managing Director at J&J Impact Ventures, on LinkedIn.

“This is DNA's second venture fund and we are pleased to partner with their team to build and scale impact in Brazil and beyond.”

DNA Capital and the Launch of DNA VC II

DNA Capital is focused on supporting early-stage healthcare companies that aim to improve access and outcomes in Brazil. 

The origins of DNA Capital are closely tied to the Amil story and the entrepreneurial vision of the Bueno family. 

In 1978, Edson Bueno and Dulce founded Amil as a health insurance startup in Rio de Janeiro, Brazil. 

After decades of innovation and growth, Amil went public on the Brazilian stock market in 2007, solidifying its position as the leading healthcare company in Brazil.

In 2012, UnitedHealth Group acquired a controlling stake in Amil in what became the largest acquisition of a Brazilian company to date. 

Following the acquisition, Edson Bueno joined UHG’s board of directors. 

The following year, in 2013, DNA Capital was founded by Pedro Bueno and raised its first private equity fund with support from the Bueno family.

The firm recently launched its second venture fund, DNA VC II, anchored by Brazilian Development Bank and Sao Paulo Development Agency, along with private investors. 

The fund plans to invest in seven to nine companies, targeting healthtech solutions and scalable services that expand access and improve care quality. 

DNA VC II builds on the success of its first fund, launched in 2018.

“We are pleased to invest in DNA Capital’s new fund and look forward to partnering with the team to scale purpose-driven healthcare companies that are transforming access to care in Brazil,” said Caitlin Bristol, Investment Director at J&J Impact Ventures. 

Portfolio growth and proven impact

The first fund, DNA VC I, invested R$280M (US$57.2m) across six companies that now collectively reach more than 30 million patients annually. 

Its portfolio includes leading healthcare companies such as Beep Saúde, Brazil’s largest home health platform and Memed, a leader in digital prescriptions.

DNA VC II continues this approach with a concentrated portfolio strategy and rigorous selection process focused on scalable, proven healthcare models. 

Early investments include NefroClínicas and Piwi.

DNA VC II has also attracted participation from J&J Impact Ventures, marking its first fund investment in Latin America. 

J&J Impact Ventures is an investment fund within the H&H Foundation.

Its aim is to support a global portfolio of early-stage companies that are transforming access to affordable and quality healthcare, with more than 80 companies in the portfolio so far.

To date, companies in the Impact Ventures portfolio have reached 154 million patients, supported 1.9 million health workers and have 95% of investments improving access.

This expands its regional footprint alongside direct investments in Phelcom and Mamotest.