Investing In Healthcare Disruption
Before you give us your elevator pitch for your company or product, let us give you ours.
We are the leading Southern-California based, early stage venture capital firm (Seed and Series A) focused on the healthcare industry. Our thesis is wonderfully simple: after 40+ years, healthcare is transitioning away from "fee-for-service" to "value-based payments," and with that comes a massive amount of disruption. There will be no shortage of clinical operations and business challenges to solve in the coming decade, and entrepreneurs are already coming out of the woodwork to solve these problems. Moreover, countless business models are now commercially viable because the healthcare industry is embracing value-based payments.
These entrepreneurs and their start-ups are what we invest in. And no, this transition to value-based healthcare isn’t dependent on what goes on (or doesn’t go on) in Washington, D.C., and state houses around the country. What is happening today in healthcare is market-driven. Furthermore, this isn't a uniquely American phenomenon. Countries all over the world are wrestling with the same thing, as no developed nation can afford its current healthcare system.
And to top it off, combining the professional careers of its core team, fund advisors and 80+ Limited Partners, Wavemaker Three-Sixty Health has more than 1,000 years of healthcare industry experience, which we leverage when supporting the early stage companies in which we invest.
WHAT'S IN A NAME?
WE'RE GLAD YOU ASKED.
Wavemaker Three-Sixty Health, LP is a joint venture between two prominent
Southern California firms and supported by the Draper Venture Network.
Wavemaker is a cross border, “generalist” venture capital firm dual headquartered in Los Angeles and Singapore. The firm started in Los Angeles in 2003 and expanded to Singapore in 2011. Wavemaker has invested in over 350 companies globally, with approximately 60% in the U.S. (predominately in the Los Angeles area) and 40% in Southeast Asia. Wavemaker has raised $380M across 7 funds that have consistently delivered top tier returns the last 17 years.
Three-Sixty Advisory Group, LLC is a healthcare consultancy and early-stage healthcare accelerator founded in 2007, helping companies with their go-to-market strategy, business development and fund-raising. The firm was founded by John G. Nackel, former head of Ernst & Young’s global healthcare practice, and former CEO of Ingenix Consulting (now Optum). The firm has world-class, C-suite contacts throughout healthcare ensuring that we not only pick great companies to invest in, but that we make these companies greater by introducing them to key customers and alliance partners.
Draper Venture Network - Wavemaker represents Southern California and Southeast Asia within the DVN, the world’s largest venture collective with 23 funds across four continents. Our portfolio companies benefit enormously from our association with DVN.
WE DON'T PICK WINNERS,
WE MAKE THEM. ASK US HOW.
the courage to
SEED - SERIES A
INITIAL CHECK SIZE $250K - $500K
WITH UP TO 4X RESERVED FOR FOLLOW-ON ROUNDS
OPPORTUNISTICALLY INVEST IN START-UPS ALL OVER U.S & WORLD
INVEST IN ALL SECTORS OF HEALTHCARE
PRICED Rounds, SAFES, Convertible Notes, and other monetary vehicles
SELECTIVELY SERVE ON BOARDS
OFTEN VIA OUR LPS THAT ARE HEALTHCARE SUBJECT MATTER EXPERTS
Meet the Team
John G. Nackel, Ph.D.
Founder + General Partner
Much of John’s prior experience was at Ernst & Young (25 years), where he ran the firm’s global healthcare practice. As part of his role at E&Y, he also oversaw the firm’s venture capital fund. After E&Y, John served as CEO of Ingenix Consulting, a business unit of UnitedHealth Group now called Optum, where he oversaw the enterprise’s non-benefits business lines, including data warehousing, analytics, actuarial services, IT products, and consulting. In a short period of time, John was involved in the acquisition of numerous companies, valued at nearly $2 billion. John earned his B.S. in Mathematics & Economics from Tufts University, and Masters degrees in Industrial Engineering and Public Health from the University of Missouri and a Ph.D. in Health Systems Engineering from the University of Missouri.
Jay has spent his entire professional career working with and for early stage companies, in operating roles (CEO, President, GM, COO, CFO and CMO) and sometimes as an advisor. Jay has worked with more than 30 early stage companies, including “traditional” start-ups as well as intrapreneurially building businesses for mature corporations such as Disney, Reed Elsevier (London) and Summa Group (Moscow). The common denominators of his start-up experience are around crafting and executing the company's go-to-market strategy, as well as fundraising. Jay earned his B.A. in Economics & Business from UCLA, and then went across town to USC to earn his M.B.A., where he received a concentration in Entrepreneurship and was the Price Institute of Entrepreneurship Fellow.
Eric N. Marton
Eric has 25+ years experience in healthcare. In 2016, Eric was recruited by private equity firm BlueMountain Capital to serve as Chief Strategy Officer of their newly acquired Verity Health (formerly the Daughters of Charity) – with six hospital campuses and numerous ambulatory centers. Concurrently, Eric was CEO of the Verity Medical Foundation (a physician organization with ~500 MDs) and CEO of the Verity subsidiary, Surgical Partners of California. Prior to joining Verity, Eric served as Executive Director at Cedars-Sinai Health System, leading efforts to craft a new Institute-model for specialty care, starting with the Cedars-Sinai Heart Institute. Eric’s experience also includes managed care/payor contract negotiation for the University of California at its San Francisco and Los Angeles campuses. Eric was also the head of international contracting for UCLA Health. From 1999 to 2005, Eric served as Managing Partner of Catalyst Venture Group, responsible for a portfolio of healthcare, technology, public-private partnership, and infrastructure investments. Eric earned his B.A. in Business from UCLA.
Kwame brings nearly twenty years of experience evaluating medical technologies in the government and private sector, and serving in senior operating roles at medical device companies. He has personally evaluated more than 1,000 medical technologies in his career. Kwame spent 12 years at the U.S. Food and Drug Administration (FDA) in progressive leadership roles, including Deputy Director and Branch Chief. He also served as Vice President, Regulatory Affairs and Quality Assurance at Implant Direct, a Danaher Corporation operating company. He is a member of the Executive Committee of Tech Coast Angels (LA), the world’s largest angel investing network. Kwame earned his B.S. in Physics from Lincoln University, and has two Masters degrees from University of Virginia, in Materials Engineering and Business Administration.
Dr. Dimi Barot is a Yale-trained physician who has been involved in successfully building, scaling, and selling multiple healthcare businesses. He serves in a leadership role within several companies across multiple sectors, including multibillion-dollar enterprises. As a Venture Partner at Wavemaker 360, Dimi adds unique value as both an accomplished entrepreneur and renowned clinician. In his role as a physician, he has authored several journal and textbook publications, is board-certified in both neurology and sleep medicine, and he is an Associate Professor of Medicine at his alma mater. He has been elected both a Fellow of the American Academy of Neurology and a Fellow of the American Academy of Sleep Medicine.
Prior to joining Wavemaker 360, Maxim Owen led the Ventures team at StartUp Health, the world’s largest early-stage digital health portfolio. Where he invested in 100+ early-stage healthcare entrepreneurs. Priot to that, he built and led the venture investment team of a prominent New York family office investing across impact-focused sectors. Maxim began his career as a global macro investor at Schroders Investment Management in London, helping manage a $30B portfolio of publicly traded securities. He received his BA from the London School of Economics.
Frank has 25 years of executive, operational, and investment experience in life sciences, biotech, pharma, med-tech, drug delivery, and healthcare IT. He was co-founder and General Partner at Teal Ventures LP; prior to that, he was Senior Advisor to Nova Quest Capital Management, a $3BB AUM private equity fund; and prior to that, he was Venture Partner at Lumira Ventures. He is a past advisor to Kleiner Perkins Caulfield Byers and Silver Lake. Mr. Stonebanks was the Founder, President/CEO, and General Partner of Triphase LP, a biotech-focused fund and operating company, where he raised $75MM of non-dilutive cash, signed a $1.5 BB partnership with Celgene and acquired two biopharma products, leading to a successful exit in 2016. Mr. Stonebanks founded Triphase while the Chief Business Officer at the Ontario Institute for Cancer Research (OICR), where he led their investment activities. He was also a former Senior Advisor in IBM’s Corporate Development group, leading healthcare deals and co-managing IBM’s $400MM fund of funds. Mr. Stonebanks has held senior operating roles at Johnson & Johnson and Sanofi, including co-Founder of J&J Internal Ventures (precursor to JLABS) and was an investor with JJDC, J&J’s equity investment unit. He received an M.B.A from Saint Joseph University and a B.A. in Kinesiology from the University of VIctoria.
Executive in Residence
Tom Zenty was Chief Executive Officer of University Hospital in Ohio from 2003-2021. He led a $4 billion comprehensive health system with more than 26,000 physicians and employees. The system's flagship is UH Cleveland Medical Center, affiliated with Case Western Reserve University School of Medicine. UH Cleveland Medical Center is perennially among the highest performers in the "America's Best Hospitals" rankings from U.S. News & World Report. Modern Healthcare included him among the 100 most influential People in Healthcare, and he is in the Northeast Ohio Business Hall of Fame. Prior to UH, Zenty held a number of executive roles, including Chief Operating Officer of Cedars-Sinai Medical Centre. Zenty earned a Masters Degree in Public Administration from New York University, a Master’s Degree in Hospital and Health Administration from Xavier University, and Bachelors Degree in Health Planning and Administration from Pennsylvania State University.
Anchor Investor (GP Wavemaker Partners)
Eric Manlunas is the co-Founder and Managing Partner of Wavemaker Partners, an early-stage cross border venture capital firm dual headquartered in Los Angeles and Singapore with over $200M of assets under management. Eric started Wavemaker’s predecessor firm, Frontera Group, a prior early-stage boutique venture capital firm he founded in 2003. Eric is a two-time start-up entrepreneur turned venture capitalist who has a proven track record as an early investor in over 260 early-stage businesses. Prior to becoming a venture capitalist, Eric founded two technology start-ups, one in e-Commerce in 1996 and the other in Internet services in 1999, both of which were successfully built and eventually sold to strategic buyers. Eric began his career as a consulting associate with Arthur Andersen’s retail management consulting division from 1991-1995. He earned an MBA from Pepperdine University in 1995 and an undergraduate degree in Communications from Florida International University in 1990.
Tina has a strong background in healthcare strategy and innovation, and leads the fund’s Midwest practice, based in Nashville. Prior to joining Wavemaker 360, Tina led Chartis’ Innovation Group, focused on driving new business models for the healthcare Industry. She was the Global HealthCare Leader and the Head of Strategy for North Highland, and also a partner in Accenture’s Strategy practice. Tina’s focus has been customer/patient experience, margin improvement, growth and transformation. Tina holds a BS degree in Chemical Engineering from Washington University in St. Louis, and an MBA from the University of Texas at Austin.
Susan Douglass Quirk
Susan has more than 25 years of experience partnering across healthcare organizations to improve key metric by overcoming a myriad of issues related to engagement, productivity, recruiting, retention and patient experience from the C suite to the front line. Susan is a Managing Director with Three-Sixty Advisory Group, LLC, and is focused on innovative human resource (HR) strategies/solutions to help emerging and mature healthcare organizations keep on a positive trajectory by implementing new approaches to keep employees and physicians connected, aligned and engaged. Prior to joining Three-Sixty Advisory Group, Susan served as Managing Director at Gallagher and led the development and implementation of a physician engagement offering to mitigate the crescendo of already concerning burnout and disengagement levels. The offering was entitled “Becoming the Physician’s Organization of Choice”.
Chief Financial Officer
Lisa serves as Chief Financial Officer for Wavemaker Three-Sixty Health, LP as well as numerous other venture capital funds, including Wavemaker Partners. She has nearly 30 years of venture capital limited partnership accounting, investor relations and fund administration experience. From 1988 to 1997, Lisa worked for OSCCO Ventures, one of the first VCs to break ground at Sand Hill Road in Menlo Park, CA. Lisa holds a B.A. from California State University, San Jose, graduating Summa Cum Laude.