# Cleveland Clinic Foundation

Cleveland Clinic Foundation is an Endowment / Foundation based in Cleveland, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Cleveland, United States
- **Region:** North America
- **Address:** 9500 Euclid Ave, Cleveland, OH, United States
- **Founded:** 1921
- **Assets under management:** 14607 (Altss estimate)
- **Website:** clevelandclinic.org
- **LinkedIn:** https://www.linkedin.com/company/cleveland-clinic

## Regulatory record

- **Reports private funds:** No

## About

The Cleveland Clinic Foundation was established in 1921 as an independent not-for-profit academic medical center. Tomislav Mihaljevic holds the role of President and CEO. No specific family wealth origin is disclosed. The foundation pursues a balanced strategy with allocations to private equity, real estate, and early-stage venture investments. Confirmed holdings include direct ownership of the Cleveland Clinic Main Campus, Cleveland Clinic London and plus minority positions in Aura at Innovation Square. Geographic reach covers the United States and the United Kingdom. Cleveland Clinic Ventures has taken limited partner roles in Cleveland Diagnostics, Enspire DBS Therapy, Dyania Health, and Centerline Biomedical. The organization employs 82,608 professionals. Additional assets under management include the Cleveland Clinic Art Collection of over 7,000 works and a fleet of medical transport aircraft. Philanthropic vehicles comprise the Cleveland Clinic Philanthropy Institute and Cleveland Clinic Philanthropy (UK) Ltd. No operational events from the last 24 months appear in available records. The foundation maintains a hybrid structure that combines endowment management with operating-company ownership of hospitals and an innovation center. This architecture allows direct control over real estate and venture commercialization through Cleveland Clinic Innovations and Cleveland Clinic Ventures.

## Sectors

- Healthcare

## People

- Tomislav Mihaljevic — President and CEO
- Stefan Strein — Chief Investment Officer
- Dennis Laraway — Chief Financial Officer
- Beth Mooney — Chair of the Board of Directors

## Questions

### Who runs investment decisions at Cleveland Clinic Foundation?

Stefan Strein serves as Chief Investment Officer. Tomislav Mihaljevic holds final authority as President and CEO. Dennis Laraway manages financial operations as CFO.

### Does Cleveland Clinic Foundation participate in fund commitments or only direct deals?

The foundation holds both private equity fund exposure and direct investments. Cleveland Clinic Ventures takes limited partner positions in portfolio companies including Cleveland Diagnostics and Dyania Health.

### What asset classes does Cleveland Clinic Foundation allocate to?

Allocations include private equity at 23.84 percent, direct real estate ownership, venture capital through Cleveland Clinic Ventures, and commodity futures. Public equity positions include GE HealthCare Technologies.

### Where does Cleveland Clinic Foundation maintain real estate holdings?

Primary holdings are in Cleveland, Ohio, with additional sites in West Palm Beach, Florida, Avon, Ohio, and London, United Kingdom. Developments include the Neurological Institute and West Palm Beach Hospital Site.

### How is Cleveland Clinic Foundation related to its venture activity?

Cleveland Clinic Ventures and Cleveland Clinic Innovations serve as the vehicles for startup investments and commercialization. Positions include ownership stakes in Centerline Biomedical and Enspire DBS Therapy.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/cleveland-clinic-foundation

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