Wavemaker Three-Sixty Health Closes Fund II at $64 Million

Quadrupling its first fund, Wavemaker 360 solidifies its status as the leading seed-stage healthcare pure-play venture fund in the United States

PASADENA, Calif.--(BUSINESS WIRE)--Wavemaker Three-Sixty Health (Wavemaker 360), the nation’s leading venture fund focused on early-stage (primarily seed) healthcare disruptors and innovators, closes its Fund II at $64 million, surpassing its first fund nearly four times over. Fund II’s Limited Partners (LPs) include hundreds of healthcare organizations and prominent healthcare executives across the United States, as well as some international investors. The goal for Fund II is to invest into 40-50 early-stage companies (U.S. and to a lesser extent international), with several investments already made into some of the most compelling healthcare start-ups in the areas of health-tech, digital health, medical device, telehealth, artificial intelligence, pharma-tech, science and marketplaces.

Since its inception in 2018, Wavemaker 360 stands apart as one of the few venture funds in the U.S. that discovers, vets and invests solely in healthcare startups at the seed funding stage. The fund currently has $85MM+ assets under management (AUM) across two funds, and in less than four years has invested into 45 healthcare companies across the U.S., Canada, Europe and Singapore. Of those companies, 15 are Fund II investments. One Fund II exit has already taken place, at an accelerated pace, with Carbon Health acquiring Alertive in October 2021.

“It is a pivotal time in the healthcare industry, which is experiencing massive disruption, workforce challenges, and significant pandemic-related recovery. We are seeking entrepreneurs stepping up with innovative solutions at a rapid pace,” said John Nackel, PhD, Founder and General Partner of Wavemaker 360. “With the closing of Fund II, we’re more driven than ever about fostering a future where healthcare companies, entrepreneurs, professionals and patients are able to flourish in ways nobody could previously conceive. We are excited to carry out Wavemaker 360’s mission to invest and support the next generation of visionaries in healthcare.”

Differentiating itself from other venture capitalist firms, Wavemaker 360 has nearly 300 LPs in its network, the majority of whom are significant healthcare organizations, prominent industry executives, and nationally renowned physicians. Drawing on this rich pool of experts and resources, the LPs offer comprehensive support to Wavemaker 360’s growing roster of healthcare portfolio companies.

Wavemaker 360’s leadership is comprised of eight cross-functional venture partners on both coasts, bringing more than 200 years of collective healthcare and venture capital experience to the decision-making table. In addition to its expansive healthcare-focused LP network, Wavemaker 360 also includes a Council of Strategic Advisors comprised of executive-level professionals spanning an array of verticals in the healthcare industry including health systems administration, provider economics, government sponsored healthcare, healthcare staffing, digital health and beyond.

“We’ve assembled the ultimate bench of experts to be the right partner for our diverse portfolio of healthcare companies and entrepreneurs,” said Jay Goss, General Partner of Wavemaker 360. “By creating strategic bridges of support, Wavemaker 360 is catapulting out of Fund II with bold ideas that will explore the infinite potentials we have for innovating the healthcare industry. Our savvy team and versatile LP network have enough conviction and financial backing to generate solutions that can transform healthcare as we know it.”

To learn more about Wavemaker 360 and its team, visit www.wavemaker360.com.

About Wavemaker Three-Sixty Health

Wavemaker Three-Sixty Health (Wavemaker 360) is the nation’s leading seed-stage healthcare pure-play venture fund in the U.S., focused on disruptors in the areas of health-tech, digital health, medical device, telehealth, artificial intelligence, pharma-tech, science and marketplaces. Wavemaker 360 stands apart as one of the few venture funds in the U.S. that discovers, vets and invests solely in healthcare startups at the seed funding stage. The fund connects its portfolio companies to a network of 300 Limited Partners (LPs), comprised of healthcare entities and executives in virtually every area of healthcare. Headquartered in Pasadena, CA, Wavemaker 360 is led by a cross-functional, bi-coastal team of eight visionary partners with more than 200 years of combined healthcare industry and venture capital experience, with additional guidance from a distinguished Council of Strategic Advisors. For more information, follow on LinkedIn and visit www.wavemaker360.com.