Jo Natauri is Founder and managing Partner of Invidia Capital Management, a healthcare focused private equity firm founded in 2024, with a focus on middle-market buyouts in North America. She was formerly Global Head of Healthcare Investing in the Merchant Banking Division of Goldman Sachs.

We start by discussing Jo’s path to investment banking and how she chose the business side of healthcare over policy. We discuss her long period of apprenticeship and then leading investments while at Goldman Sachs and her decision to strike out in her own firm.

Jo explains the diversity within healthcare, from biotech to hospitals, and the permanent base of demand that makes it a good sector to invest in.  She discusses her core beliefs, including avoiding investments that increase drug prices or target vulnerable populations, and discusses the

When it comes to mentors Jo has had some legendary investors within her circle and cites the apprentice nature of the investment business as a key aspect to be remembered and observed across the seniority spectrum.

Series 5 of 2025 is kindly sponsored by Diamond Hill. Diamond Hill invests on behalf of clients through a shared commitment to its valuation-driven investment principles, long-term perspective, capacity discipline and client alignment. An independent active asset manager with significant employee ownership, Diamond Hill’s investment strategies include differentiated US and non-US equity, alternative long-short equity and fixed income.