My first professional experience was with Joshua Tree Health, a private equity and venture capital firm focused on making healthcare more accessible and available.
Highlights
- I learned a great deal about the U.S. healthcare industry, which was significantly different from Canada's healthcare system due to its combination of private healthcare providers and private insurance, compared to Canada's predominantly publicly funded model. This gave me a much better understanding of how different healthcare systems create unique investment opportunities, business models, and competitive dynamics within the healthcare sector.
- I conducted niche market research and screened U.S. healthcare firms with under $1 million USD in EBITDA. As part of this process, I analyzed financial statements, earnings performance, working capital trends, and balance sheet risk to better understand the financial characteristics of companies operating within the niche markets I was researching. This research helped identify long term market trends and evaluate whether companies aligned with our firm's investment strategy.
- I evaluated the financial health of more than 15 seed-stage healthcare startups with limited or early revenue (under $500,000 ARR) using a variety of valuation methodologies, including comparable company analysis, precedent transactions, and both EV/Revenue and EV/EBITDA multiples where appropriate, depending on each company's stage of maturity and financial profile. I assessed each company's scalability, revenue sustainability, competitive positioning, and overall investment attractiveness before presenting my findings to the investment team. These analyses were then used as benchmarks to compare against companies sourced by our deal sourcing team that were being considered for potential investment or acquisition opportunities alongside other venture capital firms.
Skills & Tools
- Excel
- Capital IQ
- PitchBook
- Valuation
- Market Research