Wavemaker 360
Wavemaker 360 is a US-based healthcare-exclusive seed and Series A venture capital fund managing ~$200MM across three funds, with 60 portfolio companies and a 300+ Limited Partner base of healthcare industry operators providing deal sourcing and commercial support.
- Company typePrivate
- Founded2017
- HeadquartersPasadena, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Wavemaker 360 does
Wavemaker Three-Sixty Health, operating as Wavemaker 360, is a US-based venture capital fund founded in 2017 and headquartered in Pasadena, California, with secondary offices in New York and a sister fund in Singapore (Wavemaker Pacific). The firm invests exclusively in early-stage (seed and Series A follow-on) healthcare companies across health-tech, digital health, medical devices, pharma-tech, telehealth, healthcare marketplaces, and science-driven categories, explicitly excluding bio-pharma drug discovery. Wavemaker 360 writes first checks of $500K-$2MM and reserves 2X-4X for follow-on at Series A/B, always co-investing alongside other VCs, hospitals, and corporates in $2MM-$8MM financings. Investment allocation skews roughly 25% Southern California, 25% Northern California, and 50% rest of US and select international markets including Canada, Western Europe, and Asia (with US market entry as a requirement). The fund is guided by a proprietary 'Quintuple Aim' framework spanning patient experience, cost reduction, provider revenue, clinician experience, and clinical outcomes.
The fund's defining differentiator is its 300+ Limited Partner base, the majority of whom are healthcare industry veterans from 200+ institutions including Cleveland Clinic, Cedars-Sinai, HCA Healthcare, UCLA Health, UCSF Health, Kaiser Permanente, UnitedHealth Group, Stanford Medicine, Vanderbilt University Medical Center, Boston Scientific, and Danaher. These LPs are organized into a 'Portfolio Support Alliance' that drives deal sourcing, diligence, and commercial introductions for portfolio companies, supported by a 'Surf Camp' deep-dive event cadence every 2-3 months. The core team of General Partners (John Nackel, Jay Goss), Partner Maxim Owen, CFO Lisa Riedmiller, and Venture Partner/Head of AI Matt Michelson manages three funds with approximately $200MM AUM, 60 portfolio companies, and aggregate portfolio value exceeding $1.5-2.5BB. Recent investments include Citizen Health, Iterative Health, Carlsmed, Tombot, ChemT Biotechnology, Lium, and 01Health. Revenue is generated through standard 2% management fees on committed capital and 20% carried interest on fund returns above the hurdle rate.
Wavemaker 360 firmographics
Firmographics- Name
- Wavemaker 360
- Legal name
- Wavemaker Three-Sixty Health
- Website
- https://wavemaker360.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Wavemaker 360 is a US-based healthcare-exclusive seed and Series A venture capital fund managing ~$200MM across three funds, with 60 portfolio companies and a 300+ Limited Partner base of healthcare industry operators providing deal sourcing and commercial support.
- Ownership category
- akta.pro rank
Wavemaker 360 industry classification
Industry- Product category
- Venture Capital / Healthcare Investment
- NAICS
- Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Corporate LP Programs (Corporate as LP in VC/PE funds) (FSANAHAH)
Keywords
Where Wavemaker 360 is headquartered
LocationHeadquarters
- HQ city
- Pasadena
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Wavemaker 360 business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Management Fees: Standard VC management fees charged on committed capital to cover fund operations and deal sourcing activities.
- Carried Interest (Carry): Performance fee from successful portfolio company exits, typically 20% of profits above the hurdle rate, which is the primary economic driver for VC fund managers.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels5 records
Wavemaker 360 product offering
Product offeringCore offering
Wavemaker 360 is a US healthcare-exclusive seed-stage venture capital fund that invests in healthcare disruptors across health-tech, digital health, medical devices, pharma-tech, telehealth, and healthcare marketplaces. The fund writes first checks of $500K-$2MM with reserves of 2X-4X for follow-on Series A/B rounds, and supplements capital with commercial support drawn from a network of 300+ healthcare industry Limited Partners. Portfolio companies also gain access to recurring "Surf Camp" deep-dive events and a Portfolio Support Alliance of curated healthcare-experienced LPs.
Product overview
Wavemaker Three-Sixty Health is a healthcare-focused venture capital firm that invests in healthcare disruptors including health-tech, digital health, medical devices, pharma-tech, telehealth, and healthcare marketplace companies. The firm operates three funds managing approximately $1.5BB in portfolio company value across 60 companies in the US, Canada, and Southeast Asia. The firm typically writes seed-stage checks of $500K-$2MM with reserves for 2X-4X follow-on investments into Series A/B rounds. The firm's investment thesis centers on the Quintuple Aim of Healthcare: improved patient experience, lower costs, new revenue streams for providers, improved outcomes for clinicians, and better clinical outcomes.
Differentiator
Problem solved
Functional benefit
Brands
- Three-Sixty Advisory Group: Boutique healthcare consultancy that effectively founded Wavemaker Three-Sixty in 2017
- Surf Break
- Surf Camp
- Start-Up Gateway
- Portfolio Support Alliance
Products and services
- Seed-Stage Healthcare Venture Capital Funds Pooled venture capital funds (three funds to date) that invest $500K-$2MM first checks into US seed-stage healthcare startups with reserves of 2X-4X for Series A/B follow-on. LPs commit capital under standard VC fund economics (approximately 2% management fee, 20% carried interest).
Quantifiable outcome
- 60 companies in 3 funds with aggregate portfolio value exceeding $2.5BB
- +2 more outcomes
Companies that use Wavemaker 360
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles2 records
Wavemaker 360 technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Wavemaker 360 partnerships and signals
Strategic signalPartnerships
16 partnerships are on record, tiered core and minor.
- Three-Sixty Advisory GroupcoreBoutique healthcare consultancy that effectively founded Wavemaker Three-Sixty in 2017. While there is occasional synergy between the consultancy and the fund, the two companies run autonomously.
- Wavemaker (Singapore Sister Fund)coreWavemaker has a 'sister fund' headquartered in Singapore for Southeast Asia investments. The fund considers Western Europe and Asia investments provided startups have near-term plans to expand into the US.
- Atrium HealthminorOne of many healthcare institution relationships through LPs or formalized partnerships providing deal flow, industry insights, and potential commercial partnerships.
- Cedars-Sinai Medical CenterminorHealthcare institution LP relationship providing deal flow and commercial support network for portfolio companies.
- Cleveland ClinicminorHealthcare institution relationship through LP network for deal sourcing and potential portfolio company support.
- FDAminorRegulatory relationship providing industry insights and potential guidance for portfolio companies navigating regulatory pathways.
- HCA HealthcareminorLarge hospital system relationship providing deal flow and commercial network access for portfolio companies.
- Kaiser PermanenteminorIntegrated healthcare system relationship for deal sourcing and potential commercial partnerships.
- Stanford MedicineminorAcademic medical center relationship for deal flow and clinical/commercial insights.
- UCLA HealthminorAcademic medical center relationship providing deal flow and clinical network access.
- UCSF HealthminorAcademic medical center relationship for deal sourcing and potential portfolio support.
- UnitedHealth GroupminorMajor payer relationship providing industry insights and potential commercial pathways for portfolio companies.
- Vanderbilt University Medical CenterminorAcademic medical center relationship through LP network for deal flow and commercial support.
- Boston ScientificminorMedical device company LP relationship providing industry expertise and potential commercial pathways.
- Danaher CorporationminorHealthcare conglomerate LP relationship for industry insights and potential portfolio company support.
- 200+ Healthcare Institutions (Partial List)minorFormal and informal relationships with hospitals, health systems, academic medical centers, medical schools, post-acute care, urgent care including: City of Hope, Houston Methodist, Scripps Health, Sentara Healthcare, Texas Health Resources, Trinity Health, Pennant Group, Envision Healthcare, and many more.
Scale indicators7 records
Recent moves3 records
Expansion highlights5 records
Wavemaker 360 competitors and assessment
Company assessmentDirect peers
- StartUp Health: Healthcare-focused early-stage venture fund investing in health transformers; directly comparable model. Anne Dordai, Wavemaker 360's Head of Portfolio and Platform, was previously at StartUp Health.
- Flare Capital Partners: Early-stage venture capital firm focused exclusively on healthcare technology and services, with similar check sizes and LP-driven value-add model.
- Transformation Capital: Digital health-focused growth equity firm that co-led Citizen Health's $14.5MM seed alongside Wavemaker 360, operating with comparable healthcare-focused thesis.
- Define Ventures: Early-stage venture capital firm investing in digital health and tech-enabled healthcare services with a focus on commercial-stage companies, closely overlapping Wavemaker 360's health-tech thesis.
- .406 Ventures: Early-stage venture capital firm investing in healthcare and technology companies with similar check sizes and value-add LP network model.
- Health Catalyst Capital: Healthcare-focused early-stage investor backing data, analytics, and digital health companies — directly comparable vertical focus and stage.
Broad incumbents
- Andreessen Horowitz (a16z Bio/Health): Large multi-stage venture firm with a dedicated bio/health fund investing across healthcare stages; broader portfolio and larger check sizes make it an incumbent competitor for top healthcare deals.
- General Catalyst: Large multi-stage venture firm with a Health Assurance-focused practice that competes for healthcare founders across all stages, including seed.
- Optum Ventures: Strategic corporate venture arm of UnitedHealth/Optum investing broadly in healthcare innovation; provides much larger check sizes and strategic distribution that competing funds must contend with.
Emerging players
- Lux Capital: Early-stage venture firm investing in science and technology-driven startups, including healthcare and life sciences; overlaps at the seed stage but with a broader cross-sector mandate.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Wavemaker 360 social profiles
Digital presenceWavemaker 360 financial estimates
Financial estimateRevenue estimate
Valuation estimate
Wavemaker 360 leadership team
Management profileNumber of profiles
Profiles14 records
Wavemaker 360 funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Wavemaker 360 M&A and investment
M&A and investmentM&A
Investments96 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Wavemaker 360
What does Wavemaker 360 do?
Wavemaker 360 is a US healthcare-exclusive seed-stage venture capital fund that invests in healthcare disruptors across health-tech, digital health, medical devices, pharma-tech, telehealth, and healthcare marketplaces. The fund writes first checks of $500K-$2MM with reserves of 2X-4X for follow-on Series A/B rounds, and supplements capital with commercial support drawn from a network of 300+ healthcare industry Limited Partners. Portfolio companies also gain access to recurring "Surf Camp" deep-dive events and a Portfolio Support Alliance of curated healthcare-experienced LPs.
Is Wavemaker 360 a public or private company?
Wavemaker 360 is a private company. It is classified as management employee owned and is currently operating.
When was Wavemaker 360 founded?
Wavemaker 360 was founded in 2017. It employs 1 to 10 people.
Where is Wavemaker 360 based?
Wavemaker 360 is headquartered in Pasadena, United States, in the North America region.
How does Wavemaker 360 make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest (Carry).
Who are Wavemaker 360's main competitors?
Direct peers on record are StartUp Health, Flare Capital Partners, Transformation Capital, Define Ventures, .406 Ventures and Health Catalyst Capital. Broad incumbents are Andreessen Horowitz (a16z Bio/Health), General Catalyst and Optum Ventures. Lux Capital is listed as an emerging player.
Does Wavemaker 360 have an API?
No public API is recorded for Wavemaker 360.
What industry is Wavemaker 360 in?
Wavemaker 360's product category is Venture Capital / Healthcare Investment. Its primary akta.pro industry code is FSANAHAH, Corporate LP Programs (Corporate as LP in VC/PE funds). Its NAICS code is 523940 and its SIC code is 6282.