Questa Capital

We are passionate about healthcare and our partners have been active investors in the healthcare sector since 1996 As partners at New Enterprise Associates and Parthenon Capital, we have served on over 60 boards of directors and thus far have helped guide 34 companies to successful exits

We are a venture growth equity firm focused on later-stage companies across healthcare We seek to invest $15 million – $40 million in equity capital on either a majority or minority basis Our capital is employed to accelerate a company’s strategic growth plan, and, in some cases, to provide partial liquidity for founders or early shareholders

Healthcare is a complex, $3 trillion industry Scaling healthcare companies requires significant expertise and experience Our partners have been active in healthcare for decades and have invested in and worked closely with more than 50 companies during that time We believe that our deep experience base and extensive networks help us identify the most important trends and ideas in the industry These insights help to provide our portfolio companies with a competitive advantage As healthcare specialists, we can also better avoid the many pitfalls that often plague more generalist investors We are seasoned healthcare experts and therefore offer maximum value-add to the CEOs and management teams with whom we invest

Our ideal partner is the entrepreneurial CEO and management team Without great entrepreneurs, great companies are impossible We invest with exceptionally-driven, high-integrity executives who share our passion for improving healthcare Our partnership model is built upon the alignment of incentives Our partners have committed significant personal capital to Questa’s fund, and we expect our management teams to demonstrate a similar level of personal commitment to their companies

We take a research-driven approach to developing our investment strategies within the healthcare sector This thematic, proven approach to investing guides the Questa team towards identifying the best ideas and most innovative companies in our focus areas We believe that this “prepared mind” approach best equips our team to respond quickly when opportunities arise for Questa and our portfolio companies

What We Look for in Our Companies

We are fundamental investors who avoid situations with significant binary risk We will shy away from opportunities where there is a single dominant customer, a vulnerable reimbursement situation or an unproven technology We favor capital-efficiency and will avoid business models that require funding open-ended capital requirements

We believe that technology will be both an enabler of efficiency and a catalyst for growth in all the businesses in which we invest For our services companies, technology will be an optimizer of care delivery For our digital health companies, technology will enable new service offerings promising better clinical outcomes at lower cost For medical device companies, technology protected by significant intellectual property will underpin their key products and form the basis for their competitive advantage

While science and technology are constantly improving the quality of healthcare, patients still struggle to navigate the complex system and select their optimal care We believe a patient-centric mindset will continue to grow in importance as patients engage more deeply in their care and more actively evaluate their healthcare options as consumers As a result, we seek to invest in companies focused on providing better patient care and improved quality-of-life at a lower overall cost to the healthcare system

• RYAN DRANT Founder and Managing Partner READ MORE Founder and Managing Partner
• BRADLEY SLOAN Managing Partner READ MORE
• SHAWN CONWAY Chief Operating Officer READ MORE
• AABED MEER, MD Partner READ MORE
• STEPH SCOTT Vice President READ MORE
• EVANS GRENIER Vice President READ MORE
• KATIE HEMMERLING Vice President of Finance READ MORE Vice President of Finance
• ERIC THAKOR Senior Associate READ MORE
• SHANNON MELSER Executive Assistant READ MORE Our partners have been fortunate to collaborate and invest with an incredible group of executives and entrepreneurs over the past two decades During that time, our partners have been involved with over 60 boards of directors in helping our management team partners build exceptional healthcare growth companies

The following investments are select transactions with which we were involved at predecessor firms and which are generally representative of Questa's investment strategy: 1156 15th Street NW, Suite 302 Washington, DC 20005 501 2nd Street, Suite 403 San Francisco, CA 94107