Questa Capital is a healthcare venture growth equity firm that invests in breakout growth companies. We seek out disruptive business models that improve lives and provide better quality and more efficient care. We partner with superior management teams to help build innovative market leaders.
34
Exited 34 healthcare portfolio companies thus far.
60
Served on the boards of >60 growth stage companies in healthcare.
75
>75 years of experience working with and building growth stage companies.
500
8 companies exited >$500 million each.
Our Mission
Our mission is to generate outstanding returns for our investors and management teams. We achieve this mission by investing with and supporting outstanding healthcare leaders who are striving to build the next generation of growth companies. Our job is to assist, coach, advise, amplify their efforts and champion their cause. We believe there has never been a better time to build a growth company in healthcare.
Our Passion
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.
Sector-focused
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.
Partnership-focused
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.
Disciplined
and Proactive
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.
Fundamentally-driven
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.
Growth-bias
Growth is the primary driver of our investment returns both at a market and company level. Questa seeks to build market-leaders in each of the sectors in which we invest. We aim to invest in companies that operate in addressable market opportunities greater than $500 million, have revenue growth of greater than 20% annually and have leverageable cost structures. This combination of factors translates into companies with outsized earnings and exit potential. Questa’s capital and expertise will accelerate the growth trajectory of our portfolio companies, both organically and selectively via acquisition.
Technology-centric
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.
Patient-centric mindset
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 has been actively investing in healthcare since 1996. He specializes in healthcare investments in the medical device, healthcare services, healthcare technology and specialty pharma sectors. During his investment career, he has served on 46 boards of directors and has overseen the deployment of $1.0 billion in equity capital. Ryan has been named four times to the Forbes Midas List of best venture capital investors. Prior to founding Questa, Ryan was a General Partner at New Enterprise Associates (NEA), where he joined in 1996, became a General Partner in 2004 and served on the firm’s investment committee for 11 years spanning four funds totaling $8.0 billion in total capital. He led the firm’s global healthcare investing practice and served as a member of NEA’s four-person management committee. Previously, Ryan was with the Health Care Investment Banking Group of Alex. Brown & Sons and Arthur Andersen & Co. Ryan graduated from Stanford University with a BA in Political Science.
Brad has spent over 25 years in the healthcare industry and has been investing in the space since 1999. During his investment career, Brad has been involved with 18 company boards of directors and the deployment of over $600 million in equity capital in the healthcare services and healthcare technology sectors. Prior to co-founding Questa, Brad was a senior investment professional at Parthenon Capital, a growth oriented private equity firm, where he helped lead their healthcare investment practice. During his time there, he deployed over $300 million in equity capital and served on eight different boards of directors. Prior to Parthenon, Brad worked at Broadlane, Inc., a healthcare technology company, where he was a member of the Executive Management Committee. Brad previously worked in a variety of healthcare investment roles at MTS Health Partners and Evercore Partners in their New York offices. Brad started his career in the Healthcare Investment Banking Group at Bear, Stearns & Co. Inc. in New York. Brad graduated from the University of North Carolina at Chapel Hill with a BA with distinction in Economics and concentration in Finance.
Shawn has been involved with emerging growth companies both in healthcare and technology for over 19 years in a broad range of business, legal and operating capacities. Shawn manages all day-to-day operational and administrative functions of Questa. Prior to co-founding Questa, Shawn was a Partner and senior staff member at Andreessen Horowitz, serving as General Counsel. Prior to Andreessen Horowitz, Shawn worked at New Enterprise Associates (NEA), where he served as US Counsel. At both Andreessen Horowitz and NEA, Shawn was involved in a wide array of the firms’ operations, including: fund formation; the investment process from deal execution to exit; portfolio management; fund administration; compliance; and general firm administrative matters. Shawn was previously an attorney at Cooley LLP, where he worked closely with dozens of emerging companies on their financings and general corporate legal affairs. Earlier in his career, Shawn gained valuable operational insight at Interliant. Shawn graduated from Rice University with a BA, magna cum laude, in Policy Studies, Political Science and graduated with distinction from Stanford Law School.
Justin is a Partner at Questa Capital where he focuses on sourcing and executing new investment opportunities and monitoring portfolio companies. Prior to joining Questa, Justin was a Vice President at Angelo, Gordon & Co. where he spent over four years focusing on growth-oriented private equity transactions in the healthcare, consumer and specialty finance sectors. Justin previously worked at Harris Williams & Co. as an investment banking analyst focused on the healthcare sector, where he was involved in dozens of transactions. Justin graduated from the McIntire School of Commerce at the University of Virginia with a BS in Commerce.
Aabed is a Partner at Questa Capital and has more than 15 years of investment and healthcare experience. Previously, he was a Director and member of the founding team at Martis Capital, where he focused on private equity investments in the healthcare sector. Prior to that, he was with Capricorn Investment Group, ExploraMed Development, and New Enterprise Associates. In these roles, he partnered with founders and management teams in the healthcare sector to develop new investment opportunities, structure creative investment solutions, and execute on strategic growth plans. Early in his career, Aabed contributed to the Human Genome Project, an international research effort funded by the National Institutes of Health. He also worked on health economics and policy matters at Kaiser Permanente and the U.K.’s National Health Service. Aabed graduated from Harvard University with an AB in Biochemical Sciences, and from Stanford University with an MD and MBA. He completed his residency training at Stanford University and continues to serve on the medical faculty as a Board-Certified Internal Medicine physician.
Brian is a Partner at Questa Capital where he focuses on sourcing and executing new investment opportunities and monitoring portfolio companies. Prior to joining Questa, Brian was an analyst and associate at Great Point Partners, a healthcare private equity firm, where he spent three years focusing on growth-oriented transactions in the medical device and life science industries. Brian was previously a consultant at Insight Strategy Advisors where he completed a variety of engagements with pharmaceutical and life science companies. Brian graduated from Harvard University with an AB, magna cum laude, in Human Developmental and Regenerative Biology and received his MBA from the Stanford Graduate School of Business.
Joe is the VP of Finance at Questa Capital, leading the firm’s financial management and reporting functions. Prior to joining Questa, Joe was the Director of Finance at Horsley Bridge Partners, a private equity fund of funds, where he managed financial reporting and portfolio data. Previously, Joe led the operations of AC Investment Management, a commodities focused fund of funds, and began his career as an auditor at Ernst & Young in the Global Asset Management practice. Joe graduated from University of California, Berkeley with a BA in Economics.
Steph is a Vice President at Questa Capital where she focuses on sourcing and executing new investment opportunities and monitoring portfolio companies. Prior to joining Questa, Steph was a Vice President at Calera Capital, a lower middle market private equity firm, where she focused on investments in the healthcare sector. Steph previously served as an Associate at Frazier Healthcare, a growth buyout healthcare focused firm, and as Director of Corporate Development at PCI Pharma Services, a Frazier Healthcare portfolio company, where she executed the sale of PCI Pharma to Partners Group. Steph graduated from the Marshall School of Business at the University of Southern California with a BS in Business Administration and received her MBA from the Stanford Graduate School of Business.
Evans is a Vice President at Questa Capital where he focuses on sourcing and executing new investment opportunities and monitoring portfolio companies. Prior to joining Questa, Evans worked at Raymond James & Associates, Inc. as an investment banking analyst and associate, where he spent over three years focusing on the healthcare sector working with both healthcare services and life sciences companies. Evans graduated from the McIntire School of Commerce at the University of Virginia with a BS in Commerce.
Eric is a Vice President at Questa Capital where he focuses on sourcing and executing new investment opportunities and monitoring portfolio companies. Prior to joining Questa, Eric was an analyst at Roivant Sciences, where he spent two years focusing on clinical-stage biopharma investments and strategic finance. Eric graduated from Cornell University with a BS, cum laude, with majors in Biology and Finance.
Chandler is a Vice President at Questa Capital where she focuses on sourcing and executing new investment opportunities and monitoring portfolio companies. Prior to joining Questa, Chandler was a Vice President at Parthenon Capital, a growth-oriented private equity firm, where she focused on transactions across the healthcare technology and tech-enabled services space. Chandler started her career in strategy and operations consulting, working for PwC and CBIZ Private Equity Advisory. She graduated from the University of Virginia with a BS in Econometrics and received her MBA from the University of Chicago Booth. Chandler also competed on the Women’s Rowing team at UVA and is a D1 NCAA and 4x ACC Champion.
Sangha is an Associate at Questa Capital where she focuses on executing new investment opportunities and monitoring portfolio companies. Prior to joining Questa, Sangha was an investment banking analyst at Piper Sandler, where she focused on M&A advisory in the healthcare services sector. Sangha graduated from the Ross School of Business at the University of Michigan with a BBA, summa cum laude.
David is an Associate at Questa Capital where he focuses on executing new investment opportunities and monitoring portfolio companies. Prior to joining Questa, David was an investment banking analyst at J.P. Morgan, where he focused on the technology sector. David graduated from the University of Chicago with a BA, summa cum laude, in Economics and is a CFA charterholder.
Jonathan is an Associate at Questa Capital where he focuses on executing new investment opportunities and monitoring portfolio companies. Prior to joining Questa, Jonathan was an investment banking analyst at Cantor Fitzgerald, where he focused on M&A advisory in the healthcare sector. Jonathan graduated from the Stern School of Business at New York University with a BS in Finance.
Shannon is the Operations Manager at Questa where she optimizes business operations across the firm, overseeing project execution and driving efficiency. Prior to joining Questa, Shannon was a Project Coordinator at Russell Reynolds Associates, where she managed client engagements and business development processes for multiple consultants and practice leads. Shannon graduated from the University of California, Berkeley with a BA in English and received her MEd from the University of California, Los Angeles.
Iris is an Executive Assistant at Questa where she serves as a key member of the Operations team and provides support to Questa’s professionals in the Washington, D.C. office. Prior to joining Questa, Iris was a Senior Executive Assistant at Fluence Energy, where she provided high-level executive support to multiple C-Suite executives. Iris also spent three years as an Executive Assistant to the Administrator & Executive Director of the Federal Railroad Administration, an agency within the U.S. Department of Transportation. Iris graduated from Liberty University with a BS in Business Administration: Human Resource Management.
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.
Current Portfolio
The following investments are select transactions with which we were involved at predecessor firms and which are generally representative of Questa's investment strategy:
Healthcare Services
Healthcare Technology
Medical Devices
