Providence, a tech-forward health system based in Renton, Washington, has spun off its venture capital arm, Providence Ventures, which is now named Allumia Ventures. This independent firm has closed its third fund, with Providence investing $150 million, mirroring its contributions to previous funds. Allumia aims to attract 3-5 additional health systems as limited partners, targeting a total fund size of $200-250 million. With a portfolio of 28 investments and 10 successful exits, Allumia focuses on solutions for health systems and integrated delivery networks, exploring areas like behavioral health, workforce shortages, and AI-driven operational efficiency.