Healthcare investment firm Invidia Capital Management (founded by former Goldman Sachs partner Jo Natauri) announced its launch with a strategic investment from GCM Grosvenor, a leading global alternative asset management solutions firm.
Natauri brings 25+ years of healthcare investing, operating, and investment banking experience to Invidia. She most recently served as Global Head of Private Healthcare Investing at Goldman Sachs, from which she departed in December 2023 after 17 years with the firm. Invidia assembled a team of senior advisors with deep knowledge and experience in the $4.5+ trillion healthcare sector.
Natauri also built a highly experienced team with expertise in operations, strategy, and deal execution. And Natauri has hired Vince Cuticello as Chief Administrative Officer and Chief Compliance Officer, Alice Kennon as Head of Operations and Capital Formation and six additional investment team members with experience at Goldman Sachs, TPG, KKR, Barclays, Partners Group, and Ontario Municipal Employees Retirement System.
Invidia will focus on upper-middle market investment opportunities where it believes cost containment, quality, access, and innovation are well-positioned to address some of the most pressing global healthcare challenges and, consequently, where such assets are best poised for sustained and long-term growth.
In addition to her role as partner and Global Head of Private Healthcare Investing, Natauri was an active member of Goldman Sachs’ Corporate Investment Committee, Sustainable Investing Investment Committee, and Life Sciences Investing Committee. She has also served on the boards of healthcare investments Avantor, Parexel, MyEyeDr, MDVIP, and MedVet, among others.
As of March 31, 2024, GCM Grosvenor had about $20 billion of assets under management (“AUM”) invested with small and emerging managers and roughly $16 billion of AUM with diverse managers.
KEY QUOTES:
“We are thrilled to unveil Invidia and our vision to build a differentiated healthcare investment platform that will offer comprehensive and thoughtful solutions to founders and management teams as they endeavor to grow their businesses and best serve their stakeholders. As the healthcare industry becomes increasingly complex, we believe we are well-positioned by virtue of our expertise, networks, and experience of investing in the sector to deliver unique value to our CEO partners and investors. We are fortunate to have GCM Grosvenor as a strategic partner at launch, given their track record of success in identifying and supporting world-class investment talent, and we are committed to making Invidia a leading force in healthcare innovation.”
– Jo Natauri
“Healthcare is a rewarding sector for investors; it serves a critical role for patients, their families, and society. Success requires a firm like Invidia, which can partner on capital, content, and connections to deliver value in a highly specialized sector. Jo’s goal for Invidia was to build a firm that creates value while having an impact, making this a special opportunity for leaders who aspire to leave a mark.”
– Meghan FitzGerald, professor, investor, and Tenet Healthcare board member, who joined Invidia as an early advisor
“Jo and her partners are emblematic of the quality, integrity, and depth of expertise we seek when establishing strategic partnerships. We are confident that Invidia is building something special in the healthcare sector and are humbled to have the opportunity to be a part of their story.”
– Elizabeth Browne, Co-Head of GCM Grosvenor’s Elevate strategy
“Jo’s career experience, domain expertise, and network have uniquely prepared her to build and lead a world-class healthcare investment firm successfully. We are excited to partner with her and the Invidia team to support their vision.”
– Elevate strategy Co-Head, Kevin Nickelberry
