Rubicon Founders

Founder Adam Boehler leads the firm's investment and company-building activities, drawing on his experience founding Landmark Health and serving as Director of the Center for Medicare and Medicaid Innovation. The firm's team page does not list a separate CIO or investment committee chair, and describes Rubicon as an entrepreneurial platform built around Boehler's vision. Senior team members with investment or operating backgrounds, including Dave Fielding and Dave Wichmann, contribute to sourcing and portfolio oversight.

Rubicon generates deal flow through its network of former government healthcare officials, seasoned operators, and the firm's own company-creation studio. Founder Adam Boehler's CMMI and Operation Warp Speed background provides visibility into regulatory shifts that alter reimbursement models, while team members who led businesses at Humana, UnitedHealth Group, and Landmark Health bring access to fragmented provider networks. The firm also builds NewCos from scratch, staffing them with operators it recruits directly.

Rubicon presents itself as an entrepreneurial healthcare investment firm, not a family office. It does not manage a single family's capital. The firm's structure allows for both company creation and traditional control or growth equity investments in healthcare services, operating more like a permanent-capital investment platform than a blind-pool fund.

The firm's public materials describe direct investing and company building rather than fund-of-funds commitments. Rubicon creates its own portfolio companies and acquires platform businesses, with team members joining portfolio company leadership. There is no indication it commits capital to third-party funds.

Rubicon targets a range of stages, from incubation and seed-stage company creation to growth equity and control buyouts in healthcare services. The firm's team members have experience with early-stage ventures, middle-market buyouts, and large corporate carve-outs. Its NewCo model starts companies at zero, while the broader investment mandate covers mature provider groups and tech-enabled service platforms.

Dave Wichmann, a team member at Rubicon, is Co-Founder of Jory Capital, a private equity fund that invests in health and human performance companies. The two entities share some personnel overlap, though Rubicon's website lists Wichmann as part of its team rather than describing Jory as a formal Rubicon affiliate or vehicle.

There is no evidence in Rubicon's public materials that the firm operates a separate philanthropic foundation. Several team members serve on non-profit boards, including the Art Institute of Chicago and the Field Museum, though these are personal affiliations and not Rubicon entities.