In July, Dave Vreeland sat down with Brian C. Adams, president and founder of Excelsior Capital, for a podcast conversation about his professional journey from hospital administrator to IT consultant to entrepreneur to investor. Dave also shared his perspective on early stage investing and outlook for the future of healthcare.

Here are a few takeaways from Dave’s remarks:

On his journey from operator to investor:

By the time you’re about 35 years old, you’ve discovered what you’re really good at. That’s when I started Cumberland Consulting. I’ve always felt confident in my ability to analyze the healthcare industry and predict what’s going to happen down the line. I always knew the industry would automate; it was just a matter of time. The first phase of automation, spurred by the HITECH Act, really contributed to Cumberland Consulting’s success. Later, I moved into VC investing because we are now entering into another phase for digital health, and there is so much opportunity. Caduceus Capital Partners is poised to take full advantage.

On starting his second venture fund:

My first fund, Jumpstart Capital Growth Fund I, was a $21 million fund. We’ve had 12 exits and did about 30 deals. I’m proud to say all of the companies we invested in through Jumpstart Capital are still in business. But for the second fund, we wanted to go bigger and raise $100 million. Our target is to do 25 deals in four years, using our operational management consulting approach to support companies throughout their journey. The size of the fund and our strong network of venture partners ensures we can support these startups beyond money – with the network, expertise and guidance to get them through hurdles and succeed.

On the Caduceus Capital Partners approach:

At Caduceus Capital Partners, we invest in great ideas started by good people at low valuations. Most venture firms want to start later in the game than we do. But at Caduceus, we built our fund to support and scale companies during the hardest phase – that period from $1-5 million in annual revenue and the period from $5-10 million in annual revenue. That’s when it’s hardest, but that’s where all the value is. Our team can really make things happen during this stage and enjoy healthy returns.

On the future of healthcare:

Vladimir Lenin said, “There are decades where nothing happens; and there are weeks where decades happen.” That perfectly sums up what we’re seeing with the boom in digital health. Spurred by the unsustainable cost of healthcare, the COVID-19 pandemic, and the rise of the Tech Titans, the next decade will be the golden age of digital health.

Colloquium is a podcast dedicated to providing high net worth individuals and family offices access to the most influential thought leaders, entrepreneurs, investors and capital allocators in the asset management and alternatives space. Click here to listen to the full podcast.

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