Ms. Kassouf of Cedar Ventures has had experience working alongside seasoned venture capital and private equity firms while investing some of the funds of an insurance entity in private equity, venture capital funds and early-stage companies and participating in board meetings of various portfolio companies. As a prior member of the National Venture Capital Association and a network resource member of SC Launch, part of the South Carolina Research Authority, Ms. Kassouf has also gained knowledge of the transfer technologies arms of various Universities in the South.
As the CEO of Cedar Equities, a venture capital subsidiary of medical malpractice insurer Western Indemnity Insurance and The Galtney Group, Ms. Kassouf initiated and oversaw the approximately $10 million of allocation to alternative investments, including in funds and in direct investments. Two of the three fund investments selected by Ms. Kassouf achieved positive returns in the 20% -32% range during Ms. Kassouf’s tenure. Of the 5 direct early stage health care investments made, it is estimated that one or two achieved positive EBITDA during Ms. Kassouf’s tenure.
Investors with whom Cedar Equities co-invested in the past in operating companies include:
After Cedar Ventures was formed and became active in 2000, it arranged sales of health care service companies including: $100 mm revenue HMO sold to HealthSpring (HealthSpring was later acquired by Cigna in 2011); arranged for sale of behavioral company to Providence Services Corporation (Nasdaq: MODV); arranged for sale of hospice company to a regional hospice company, Hospice Advantage, a $50 mm in sales company; and merged two surgery centers.
We are not siloed to a specific product as is the case with larger firms. The number of years that we have worked on financings, over 30, provides us a framework to be creative as we have ‘seen a thing or two’.