Topic: Meet Jay Goss, General Partner of Pasadena’s Newest Venture Fund (focused on healthcare)
Come hear Jay Goss, General Partner of Wavemaker Three-Sixty Health (a Pasadena-based venture fund), explain how his experience as a 4X CEO, 2X President, 5X COO, 1X CFO, 2X EVP/SVP and 1X Board Chairman of early stage companies prepared him for the world of venture capital. And along the way, learn what he looks for when deciding to fund (or not fund!) early stage companies. Lastly, as a bonus, learn a little bit about value based health (which is at the core of Wavemaker 360).
Before becoming a venture capitalist, Jay Goss helped bring companies, a lot of them, to life and created growth spurts for companies that have been been around for a while, but find themselves stalled. Jay has built, run and "growth spurted" businesses across a variety of different industries/sectors – digital and traditional – working entrepreneurially for early stage companies (from zero to five years old), and "intrapreneurially" inside large organizations such as Disney, Reed Elsevier, Summa Group and UCLA, building new business units on their behalf. While these companies have been all over the map in terms of industry, the common denominators have been helping companies develop (or re-work) their go-to-market strategy and sticking around to actually execute the plan, and helping companies with fund-raising (Jay’s companies have raised money from friends and family, angels, HNWI, strategics, venture capitalists, crowd-funding, celebrities, family offices, and overseas investors).
Long story short, Jay knows the entrepreneurial journey pretty well (although each one is a little different, and each time he learns something new about entrepreneurship).
Jay is currently a General Partner at Wavemaker Three-Sixty Health. He crossed over to the dark side. Wavemaker Three-Sixty Health is a new Pasadena-based venture fund led by seasoned healthcare executive John Nackel (former head of E&Y’s global healthcare practice and CEO of UnitedHealth Group’s Ingenix Consulting, now Optum) and Jay Goss. The fund focuses on healthcare start-ups seeking Seed and Series A investment, and is a joint venture between one of Los Angeles’ most established and active venture funds – Wavemaker – and Three-Sixty Advisory Group, a ten year old healthcare consultancy. The fund’s investment thesis is that 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 for the first time commercially viable because the healthcare industry is embracing value-based payments. The fund is targeted at $25MM, and already counts among its investors dozens of healthcare senior executives, eager and extremely able to add value to the early stage companies in which the fund invests. Wavemaker 360’s first close was done on May 1, 2018 and is now actively investing in compelling early stage healthcare companies.