Chasm Partners applies executive search and healthcare market expertise to assess leadership and talent of potential investments to increase chances for success
Responding to evolving Venture Capital and Private Equity market needs when evaluating the leadership teams of their portfolio company investments, Chasm Partners announced today the introduction of ChasmDILIGENCE.
ChasmDILIGENCE builds on Chasm’s deep expertise in evaluating executive talent for high-growth healthcare organizations, providing insights to help investors perform human capital diligence at deal stage.
“Since 2015, Chasm has helped our clients in Venture Capital and Private Equity scale by placing top tier talent in their healthcare organization investments,” said Matt Dumas, Managing Partner at Chasm. “Leveraging our unique approaches to psychometric testing and candidate evaluation when making placements for our clients, we have developed ChasmDILIGENCE to provide a more practical alternative to human capital due diligence than traditional approaches have offered.”
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All ChasmDILIGENCE engagements are managed by highly experienced experts in human capital, led by a former Chief Human Resources Officer. The deliverable to clients consists of reports and a presentation to investors providing an assessment on the individuals as well as the team to help investors determine the existing capabilities and what changes, if any, need to be addressed to maximize the value of their investment when it comes to human capital. The reports also help investors identify development areas on how to help further improve leadership impact of the executive team post investment.
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Response to changing circumstances
ChasmDILIGENCE was originally developed as an answer to travel restrictions put in place due to the COVID-19 pandemic. Investors could no longer meet face-to-face with executive teams of potential investments to gauge the chances for success. Yet due diligence still needed to be performed, so clients turned to Chasm asking for help.
Chasm responded quickly, introducing the first iteration of ChasmDILIGENCE in April of 2020. The service uses a combination of one-on-one interviews and highly predictive psychometric assessment tools along with proprietary models developed by Chasm to perform its evaluations. Chasm experts then deliver custom reports covering two areas:
- Individual leader assessments. These reports assess the potential performance of individuals against the specific role they are currently in and the business need as defined by the investor. They detail the strengths and gaps in core leadership attributes needed to succeed as well as factors such as judgment, decisiveness, resilience and emotional intelligence.
- Team evaluation. Chasm takes the information gained through the individual leader assessments to help investors better understand the leadership team’s effectiveness as a whole, the dynamics within the team and the corporate culture. These aspects are then used to evaluate the risks and the team’s chances of succeeding in achieving the investor’s stated business objectives.
Faster insights
One particularly appreciated attribute among early customers has been the speed with which an evaluation and report can be completed. While exact times can vary, typically Chasm only requires one week’s lead time versus the three or four for a traditional due diligence approach. From there, most evaluations take a week to 10 days versus the four to six weeks needed for a traditional approach.
Results-driven and cost-effective
In designing ChasmDILIGENCE, the organization set a goal of putting industry-leading quantifiable data into the hands of experienced professionals who could then deliver deep insights that explain what the data is showing. The clients who have tried it so far are impressed with the results.
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