Platforms helping covered entities internalise programme dispensing, manage referral capture and optimise revenue — structurally insulated from manufacturer contract-pharmacy restrictions.
Home health, hospice and post-acute operations serving aging populations and the hospital-at-home shift — fragmented, durably reimbursed, built for consolidation.
AI-native platforms automating denials, charge capture, clinical documentation and prior authorisation, with 12–24 month payback periods.
Within 90 days of close we run an aggressive operational reset — vendor renegotiation, procurement, staffing and billing — in the first quarter, not the first year.
Structured BD and sales playbooks from C-suite roles scaling companies from zero to billions.
Unit economics, operating expense rationalisation and procurement leverage inside 18 months.
Materials are released only to verified accredited investors. Nothing on this page is an offer to sell securities.
A working product with a consistent customer base and a robust pipeline — with selective exposure to earlier rounds where the operating thesis is unusually clear.
We look at proven companies in any large market our experience compounds in — healthcare services and health technology, and equally technology, consumer, media and wellness.
Management with a history of success, including women-led businesses. We back operators, because we are operators.
Platforms helping covered entities internalise programme dispensing, manage referral capture and optimise revenue — structurally insulated from manufacturer contract-pharmacy restrictions.
Home health, hospice and post-acute operations serving aging populations and the hospital-at-home shift — fragmented, durably reimbursed, built for consolidation.
AI-native platforms automating denials, charge capture, clinical documentation and prior authorisation, with 12–24 month payback periods.
CMS and payers are migrating to value-based, site-neutral care — creating durable revenue predictability and multi-year exit visibility.
Automation now generates 12–24 month payback periods, making RCM platforms immediate acquisition targets for EHR systems and strategic buyers.
Lower-middle-market assets are highly fragmented — institutional rollups command 12–15x exit multiples against 7–9x entry.
In-home dispensing, polypharmacy capture and shared referral pipelines compound per-patient revenue across both.
AI-native revenue cycle deployed portfolio-wide — margin expansion, denials capture and exit value in every vertical.
Care networks feed geographic referral pipelines, patient continuity and polypharmacy capture back into platform growth.
MSO and ACO infrastructure lets portfolio companies win and retain value-based contracts, increasing revenue predictability and exit attractiveness to payers and health systems.
Within 90 days of close we run an aggressive operational reset — vendor renegotiation, procurement, staffing and billing — in the first quarter, not the first year.
Structured BD and sales playbooks from C-suite roles scaling companies from zero to billions.
Unit economics, operating expense rationalisation and procurement leverage inside 18 months.
Pamela has over 20 years of operations, capital raising, merger and acquisition strategy, marketing positioning and business development experience across health and wellness, SaaS and IT infrastructure, mobile device technology, entertainment and digital media, and financial services and fintech. Her clients have been featured on 60 Minutes, Oprah and the Today Show, and on the covers of BusinessWeek, Fast Company and Inc. Magazine.
She launched the first-ever general purpose prepaid card, growing customer deposits from zero to $2+ billion in three years through partnerships with Visa, NBC Universal, Gateway Computers, Jackson-Hewitt and Intuit. She led the media and marketing launch of ExpertVillage, acquired within fifteen months by Demand Media, and launched large-scale programmes with Kaiser, Independence Blue Cross and Universal American.
Pamela was most recently COO at Fastlane, where she ran the firm's investor strategy and readiness arm as well as marketing positioning for M&A within large market-leading clients.
Robert has been CEO of technology, media, energy, environmental and healthcare companies, and has raised or managed over $750 million in deals, financings, acquisitions and exits with companies including Allen & Co., Merrill Lynch, Citigroup, Omnicom, Oppenheimer, Hewlett Packard, Verizon and Samsung.
He founded and was CEO of eCaring, a care management software company that exited to a major customer; was CEO of Remtech, a diversified energy and environmental services company; was an officer for strategic planning at JP Morgan Chase; and was CFO at Motionbox.
Robert is currently Managing Partner of Alchemy Value Services. He was Director of New York City's Energy Office, overseeing more than $3 billion in projects. He graduated from Williams College, holds an M.A. in Management from the New School, and is a published author and filmmaker.
Noah is a C-suite operator with more than 25 years leading growth and transformation across iconic consumer and retail brands, including KEH Camera, Levi Strauss, RH and Vineyard Vines. He has delivered over $3 billion in revenue and market-valuation growth, resulting in three highly successful exits in partnership with L. Catterton, Goldman Sachs and Cerberus.
As CEO of KEH Camera he led a profitable, fast-growing platform in the circular economy, scaling the business well ahead of its market. Earlier, as Chief Experience Officer at Vineyard Vines and in senior roles at Levi Strauss and RH, he built consumer brands and operating systems known for disciplined, transformational growth.
At Breaking Wave, Noah focuses on commercial scaling, operator value creation and deal origination.
Rick is a venture strategist, capital advisor and growth architect focused on scaling high-growth businesses and structuring transformative investment opportunities across technology, consumer, entertainment, hospitality and emerging platform sectors. As a Partner at Cypress Ascendant and founder of RBD3 Group, he specialises in venture building, strategic partnerships, capital formation and institutional-grade capital architecture.
He has advised a wide range of growth-stage companies on fundraising, strategic positioning, investor relations, transaction structuring and long-term scaling. As Special Advisor to Events.com, he helped guide the company from a more than 95% pandemic revenue decline to a public listing alongside Bob Diamond and Concord Acquisition Corp II at an approximately $400 million enterprise valuation.
Dash Llewellyn leads the analyst team at Breaking Wave Capital and sets the firm’s technology direction. He runs diligence on live opportunities and built the BWC proprietary AI platform.
Before Breaking Wave he was a software engineer at Klyre Pay, building the copay and reimbursement rails that connect specialty drug manufacturers, providers and pharmacies — and integrating AI into the underlying systems. He studied Computer Science at Rensselaer.
Berkay joined Breaking Wave as an Analyst in May 2026, having spent the prior summer with the firm. He started out somewhere less conventional: professional basketball in Türkiye, which he left at eighteen for finance. He then spent five years at Yıldız Holding, Türkiye’s largest FMCG company, in cash management, working on financial planning and liquidity operations across the group.
Berkay holds an MBA from NYU Stern, where he was a Teaching Fellow for Equity Valuation, and a B.S. in Capital Markets from Marmara University. He is a CFA charterholder and has been investing in public markets since senior year of college.
The desk never closes. Inbound at three in the morning gets the same first look as nine.
From a deck landing in the inbox to a graded, filed, written-up record.
Eight dimensions, hard gates and a written reason under every score — advanced enough that a partner audits the reasoning, not just the verdict.
Investment decisions made by software. It prepares the file; the partnership decides what we buy.
An always-on system running dozens of jobs on timers — it restarts itself and keeps its memory across every deploy.
It works inside the firm's real inbox, data room, calendar and CRM — not a sandbox, not a copy.
One source of truth behind every document and deck, so the firm only ever says one thing at a time.
Output renders straight into our own templates, presentable the moment it exists.
Domain-locked sign-in, role-based permissions and an audit line on every write.
The platform proposes; only a partner commits. Judgment stays human, and senior.
Within 90 days of close we run an aggressive operational reset — vendor renegotiation, procurement, staffing and billing — in the first quarter, not the first year.
Structured BD and sales playbooks from C-suite roles scaling companies from zero to billions.
Unit economics, operating expense rationalisation and procurement leverage inside 18 months.
Split-billing facilitation and revenue-cycle automation convert cycle inefficiency into EBITDA.
The exit buyer is embedded at underwriting, from day one — not discovered at year four.
40+ exits and 4 IPOs across the partners' careers, in healthcare, consumer, media and fintech.
Terms, track record and offering documents are available to verified accredited investors. Nothing on this page is an offer to sell securities.
Pamela and Robert take the first call and every one after it. There is no analyst screen and no relationship manager in between.
Terms, track record and offering documents open once accreditation is verified — handled once, quickly, in confidence.
Introductions are answered the week they arrive. If we are not a fit for your mandate we will say so early rather than keep you warm.
Request the materials, or write to a general partner directly. Nothing on this page is an offer to sell securities.
Accreditation verification, then the data room: PPM, LPA, subscription documents, track record and the model.
Read the day it arrives, every time. Proven concept, consistent customers, a clear path to scale.
Press, co-investors, service providers and anything that does not fit the two boxes to the left.
Tell us who you are and the mandate you invest against. Accreditation is verified before any materials are released — nothing here is an offer to sell securities.
Attach the deck or paste a data-room link. It is logged, filed and given a structured first read the day it arrives — every deck, no exceptions.
