Questa Capital Management closed its second fund on $348 million. Fund II will invest in later stage companies in healthcare services, technology and medical devices with significant growth potential. Investors in Fund II included endowments, foundations, family offices, consultants, pension plans and funds-of-funds.
Questa Capital Management, a venture growth equity firm exclusively dedicated to the healthcare industry, today announced the final close of Questa Capital Partners II, LP (the “Fund”) with $348 million of capital commitments. The firm’s second fund will invest selectively in later stage companies in healthcare services, technology and medical devices with significant growth potential. The firm has a proven team with a collective 70 years of experience investing in and building growth stage companies.
The Fund was oversubscribed at its hard cap, securing commitments from a diversified blue-chip investor base comprised of leading endowments, foundations, family offices, consultants, pension plans and fund-of-funds.
Questa Founder and Managing Partner Ryan Drant noted, “Despite the challenges of COVID-19 we have been honored with the investor response for our second fund, which exceeded our expectations. We are both grateful for the strong interest and additional investment from our existing investors, and pleased to be starting long-term relationships with a small group of exceptional new limited partners. We look forward to continuing to build differentiated and high-growth healthcare companies in close collaboration with strong management teams. Questa will continue to partner with companies that share our vision and passion to improve clinical outcomes, efficiency, safety, and the patient experience to help address critical challenges in our healthcare system.”
Questa Capital is an active and collaborative partner for the companies in which it invests. The Questa team brings deep sector expertise in healthcare services, technology and medical devices, and a deep network and industry experience to help guide portfolio companies toward leading market positions and accelerated growth. Current and exited companies within the Questa portfolio include Dispatch Health, EPIX Therapeutics (acquired by Medtronic in early 2019), and Medrio among others. Questa closed its inaugural fund in 2018 with $199 million of capital commitments.
“The year 2020 has offered a challenging and unique set of perspectives concerning the changing U.S. healthcare landscape. As DispatchHealth continues to grow, Questa Capital has been an exceptional partner for our company during these times as we continue to expand our team and execute on our market expansion,” said Mark Prather MD, MBA, CEO and co-founder of DispatchHealth. “We are thrilled for their success in raising Fund II and look forward to their and our continued achievements, working together.”
Acalyx Advisors served as exclusive placement agent and Gunderson Dettmer provided legal counsel to Questa.
About Questa Capital Management
Questa Capital is a venture growth equity firm focusing on investments in expansion-stage healthcare companies. Questa seeks out disruptive, technology-enabled business models that help improve patient lives, streamline market inefficiencies, and provide better quality care. The firm partners with superior management teams to help build innovative market leaders in the healthcare services, technology, and medical devices sectors. Questa is led by industry veterans Ryan Drant, Brad Sloan and Shawn Conway, leaders in healthcare investment and operations who have invested in and advised more than 50 growth-stage companies. More information is available at www.questacapital.com.