The Lemhi Ventures team is made up of five principals and a network of consultants and advisors. Each member of the team contributes experience starting, growing, and leading successful businesses, with particular strengths in health care services. We focus on this industry because it is one in which we have the knowledge and operational experience to challenge and support the management teams of the companies in which we invest. As individuals, and as a team, we are committed to working with our partners to build great companies.
Tony Miller“We started Lemhi to invest in companies that will change health care. That’s a huge ambition, but we have two things going for us: the power of venture capital to fuel innovation, and the imagination of entrepreneurs. Put these together with the skills and experience of our team, and there’s no limit to the change we can create.”
Tony Miller is a self-described health care geek. He is a recognized industry expert and frequent speaker on consumer-driven health care and health policy. As founder and managing partner, he draws on experiences as varied as a consultant and a CEO to drive Lemhi’s investment decisions and involvement with portfolio companies.
“Everyone at Lemhi has been through the start-up process. We know how much it takes to build something from the ground up. So, when we meet with entrepreneurs to talk about their businesses, I want to know what drives them. I want to know why they are going to put so much on the line for this particular idea.”
For more on Tony, click here (pdf)
Jodi Hubler“I’ve never been a traditional anything. In every position I’ve held – small company, big company, public or private, domestic or international – I’ve always been interested in the ability of the business to execute its strategy. That almost always comes down to having the right people in the right positions, doing the right things.”
As the managing director and an active advisor to several portfolio companies, Jodi Hubler is the kind of leader who rolls up her sleeves and get things done. With a background in strategic human capital, she spends a significant portion of her time coaching the leaders of portfolio companies.
“We look for entrepreneurs and CEOs with a focused drive and a collaborative disposition. Great companies reflect the vision of a strong leader, but all complex organizations require the talents of the entire management team. We invest in companies with the potential to change health care, and that requires a deep bench. The advisory role Lemhi takes is often focused on helping CEOs see the talent around them, and finding ways to challenge and direct it.”
For more on Jodi, click here (pdf)
Randy Schmidt“I’m a deal guy. To me, a due diligence review is a rigorous and creative way to bring the financial and operational issues of a business to the surface, so we can establish a common understanding of what’s in play. It lets us collaboratively focus on what it will take to strengthen the business, not just how to value it or how much we will invest.”
For more than two decades, Randy Schmidt has held financial management and leadership positions in a wide range of companies in the health care industry. His experience spans finance, accounting, underwriting, compliance, equity investments, and acquisitions in both public and private companies. His background as a CPA and his success funding, managing, and exiting start-up health care companies provide Lemhi’s portfolio companies with seasoned operational experience and broad industry perspective.
“I’ve been the CFO of four companies, so I know how to play the game. When we see entrepreneurs, we’re looking for people who have a chess master’s sense of their industry. They need to know how their business will move the market, how other firms are likely to respond, and how they’ll adapt to that response. We need to feel confident that we are working with a person and a team who are looking four or five moves ahead, without losing sight of what they need to do today.”
For more on Randy, click here (pdf)
Tom Stroh
Vice President, Finance
“We know how hard it is to stand in front of people who will challenge every assumption in your plan and ask tough questions. That is why we listen carefully and try to fully understand what the entrepreneurs who meet with us are attempting to accomplish. We look at business proposals to find potential, not to find a reason to say ‘no.’”
Tom Stroh is a straight-up numbers guy. With a background in financial management and accounting, he brings an optimistic skepticism to his role as Vice President of Finance. In addition to managing the financial operations of the fund, Tom works closely with the portfolio companies to ensure the integrity of their financial reporting.
“Good financial reports clarify the issues. As complex as the work is, the management value of the information is really very straightforward. Financial reports are a reality check on the original plans and assumptions, and a road map to the underlying business trends. They tell you what you’ve done, but more importantly, they tell you what you need to do.”
For more on Tom, click here (pdf)
Jessica Zeaske
Vice President, Research & Development
“I’ve always been passionate about innovation in health care, and I’ve been fortunate to cultivate that passion in many different roles: entrepreneur, analyst, advisor, investor, and researcher. There is a common thread that connects them: a commitment to fully understanding both the problem and the health care market that needs the solution. The complexity and significant challenges of health care require novel approaches. I thrive on the process of helping research and navigate solutions through these thorny issues.”
As Vice President of Research and Development, Jessica Zeaske leads Lemhi’s analysis of the health care services markets and initiates due diligence reviews of potential investments. She evaluates potential investments and works with prospective and current portfolio companies analyzing market trends and opportunities.
“Diving deep into the data is only one aspect of my job. As venture investors, we put all the pieces together — market data, customer interviews, the leadership team, the vision, and the business model — to tell the whole story. Weaving insight and market intelligence makes a company’s story more compelling, and acting on the information makes a better business.”
For more on Jessica, click here (pdf)
