David Holder currently serves as the Managing General Partner for Holder Capital Partners, a Southern California focused, early stage, consulting practice, accelerating companies through foundational capital formation, market positioning and service offering completion. David Holder’s background includes expertise in early stage capital formation, go-to-market strategies and target account profiling. Since 1980 David Holder has worked with and invested in nine early stage healthcare ventures and on average returned 6.9 times the invested capital for each deal with an average life cycle of 43 months. In addition to its limited partner investments with Mission Ventures (outlined below) Holder Capital Partners has five currently active portfolio investments. Four are currently private and one, MedAssets (MDAS – Approx $1.3B cap value) completed its public offering in December 2007.
From 1996 to 2002, Mr. Holder served as Founding Venture Partner with Mission Ventures from the inception of the fund in 1996 through 2001. Two funds, totaling $288 million, were raised during this period. At the end of 2002, 33 investments were completed. Sandpiper, an early Mission Ventures first fund portfolio company, was acquired by Digital Island in December 1999, and returned to limited partners nearly the entire $63 million first fund amount. With the Mission Ventures change of focus, Mr. Holder transitioned from Venture Partner to Consultant through 2006. As a Mission Ventures Limited Partner David Holder continues to provide support to several Portfolio Companies, review deal flow and recommend potential investments. While at Mission as General Partner, he was responsible for introducing 6 investments (5 healthcare and 1 technology) all currently profitable and ongoing.
Previous to Mission Ventures (1980 – 1996) David Holder invested in his own portfolio as a family office venture capital investor working with founders, capital sources and management, specializing in the development of early stage healthcare companies. He was instrumental in the founding and/or early stage development and funding of ten companies including CAREMARK (CK), originally acquired for $575 million by Baxter in 1987 and later by MedPartners in 1996; PANCRETEC, acquired for $58 million, by Abbott Labs (ABT) in 1987; PYXIS, acquired for $986 million by Cardinal Health (CAH) in 1996; THERATX, acquired for $680 million by Vencor (now known as Kindred Healthcare - KIND) in 1997; and EDiX, acquired for $30 million by IDX Corporation (IDXC) in 1999, and finally acquired by Warburg Pincus and Soros Capital for approximately $220 million in 2004. The development capital raised by these companies exceeds $150 million and approximate current aggregate valuation exceeds $6 billion.
For most of his career, Mr. Holder has specialized in fast growth, healthcare businesses, primarily in strategic development and finance. At one point, Pyxis and TheraTx ranked number one and two respectively on the "Inc. Magazine" list of the 100 fastest growing public companies. With co-founder Jon Holder, in 1992 he founded EDiX, the first integrated, nationwide network for the collection and distribution of clinical dictation and transcription. The EDiX technology continues as the most technically advanced dictation/transcription platform in the market.
In January 1980, Mr. Holder joined the co-founders of CAREMARK as an investor with Vice President of Sales responsibilities. As the third member of the executive management team, he developed the original sales plan and organization that achieved all sales and profitability objectives for the company during his five-year tenure. CAREMARK's 1980, first year revenues under his leadership were $1.8 million and were forecasted to exceed $200 million at the time of its acquisition by Baxter in 1987. At the time of its acquisition, the company was the leader in the field of technology based home therapies and continued to hold the leading market position, with total revenues exceeding $1.5 billion in 1993, until partial divestiture in 1995 and acquisition in 1996. The two successor companies continue as current market leaders.
Mr. Holder's background also includes staff and line management responsibilities with two divisions of Baxter Laboratories. He managed an expansion field organization with the Baxter division of the company and subsequently was responsible for all Canadian and western U.S. sales for the Hyland Diagnostics Division. Over a seven-year period with Baxter, he held six progressive positions of responsibility.
Also included in Mr. Holder's experience is a three-year period as Director of Sales for the McGaw division of American Hospital Supply Corporation. Under his direction the division made record gains in sales against market leaders, Baxter and Abbott. Mr. Holder's experience also includes national sales management responsibility for U.S. Surgical Corp. and general management responsibility for the medical/diagnostic products distribution unit of the Bergen-Brunswig Corporation.