A veteran investment banker who has spent more than a decade covering the healthcare sector has left RBC Capital to join renowned venture capital firm Andreessen Horowitz. Nate Chang started at the Silicon Valley VC earlier this month as a partner.
Best known for its investments in social media and tech companies like Facebook and Instagram, Andreessen Horowitz has recently begun dabbling more in healthcare through two biotech funds that launched with a combined $650 million in seed money. Business Insider reported just yesterday that the VC is now looking to use those two vehicles to make more investments in companies that focus on therapeutics and innovative approaches to medical treatment.
The timing of Chang’s hire is likely no coincidence. He spent more than four years as the head of West Coast healthcare investment banking at Credit Suisse before joining RBC Capital in 2017 – his second stop with the Canadian bank. He worked at RBC Capital from 2009 to 2013 following a three-year stint at Morgan Stanley, according to LinkedIn.
Chang’s varied educational background may have provided him a leg up. He received his bachelor’s degree in molecular biology from UC San Diego and worked in the pharmaceutical and healthcare industry for several years after college. He later earned his MBA from Dartmouth’s Tuck School of Business before launching his career in investment banking. Neither Chang or a PR firm representing Andreessen Horowitz immediately responded to requests for comment.
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