Providence Health has systematically shuttered community health services throughout Northern California, depriving many patients of the local care they need and deserve. Yet the Catholic non-profit is pumping $150 million into a venture capital firm whose primary aim is to make money for its shareholders.
Providence recently announced plans to make a major investment in Allumia Ventures. The fund, founded in 2015, was previously known as Providence Ventures. Providence converted the fund into the renamed independent venture capital firm in January 2025 to expand the scope of its partnerships.
Despite the name change, Providence remains deeply involved in the fund, with a $150 million investment over the next 10 years.
NUHW members working at Providence facilities, including hospitals and hospices in Humboldt, Sonoma, and Napa counties, are in a difficult contract campaign with the healthcare giant. Workers are fighting to win fair pay, address short staffing, and safeguard care in their communities. By short-staffing facilities and shuttering access to essential services, Providence is leaving patients without much-needed local care.
It’s troubling that in contract talks Providence is rejecting measures that would make it harder for it to shutter more services while pouring money into venture capital funds. As a non-profit with tax exemptions, Providence should be focused on its original mission — to take care of the communities it serves, not to enrich itself at the expense of its patients and caregivers.
