Town Hall Ventures is a $440M venture capital fund led by former CMS Administrator Andy Slavitt that explicitly targets the "take the bus crowd, not the Peloton crowd" by investing in healthcare companies serving Medicare, Medicaid, and other underserved populations rather than commercially insured elites. The firm combines deep government policy expertise with AI-focused healthcare investments, operating more like a company-building studio that starts companies from scratch and provides heavy operational support to help portfolio companies navigate complex government contracts and payment models.