On June 1, 2021, the Department of Health and Human Services (HHS) announced the formation of a partnership between HHS's Biomedical Advanced Research and Development Authority (BARDA) and the Global Health Investment Corporation (GHIC). GHIC is a nonprofit organization which is the managing member of the Global Health Investment Fund (GHIF). According to its website, GHIF is a $108 million social impact investment fund that supports innovations for public health based on improving or expanding access to existing products. It prioritizes opportunities with "dual market" potential, that will both improve public health in developing countries but will have commercial value in high-income countries. Through its BARDA Ventures program, BARDA intends to provide GHIC with at least $50 million over five years with potential for up to $500 million over ten years, to be part of a global health security fund with matching capital from other investors.
The partnership will be supported by BARDA's Division of Research, Innovation and Ventures (DRIVe), which was launched in 2018. DRIVe currently partners with 37 companies through federal contracts and has a network of 13 accelerators that support early-stage companies, including 154 health security product developers.