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PFM Health Sciences

Crossover fund

San Francisco · Pre-Seed–Series A · 10 people tracked

Not to be confused with PFM Health Sciences (Crossover fund · San Francisco, US)

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Investment thesis

PFM Health Sciences focuses on the healthcare sector, believing the industry is in a powerful, long-term innovation cycle producing transformative investment opportunities. The firm takes a specialist, bottom-up, fundamental approach, leveraging secular growth, domain expertise, and demographic trends. It values partnering with companies that deliver measurable and sustainable impact on health outcomes while being responsible stewards of institutional capital. Risk management and portfolio construction aim to dampen volatility while offering an attractive return-to-risk profile. The firm emphasizes flexibility to invest across the capital structure in both public and private companies within biopharma, medical technology, life science, and healthcare services.

Source: firm website, verified Oct 11, 2026.

Stage
Pre-Seed–Series A
HQ
San Francisco, California, US
Instruments
Equity
Founded
2004

Team · 10 people

from the firm's website & public directories
Brian Grossman· Managing Partner, CIO and Portfolio Managerin

Founding partner of Partner Fund Management (2004) and the firm's sole managing partner since 2020, when it was renamed PFM Health Sciences. He previously analyzed biotech at Pequot Capital and Andor Capital and began his career at J.P. Morgan Investment Management. He holds a B.S. in Economics from the University of Pennsylvania and is a CFA charterholder.

Christopher Mosellen· Head of Tradingin

Joined PFM in 2007 and leads trading. He previously managed credit trading strategies at Barclays Global Investors and worked at Standish Mellon Asset Management. He holds a B.S. in Economics-Finance from Bentley College and is a CFA charterholder.

Darren Mooney· General Counsel & Chief Compliance Officer

Rejoined PFM in 2023 and serves as General Counsel and Chief Compliance Officer. He previously held regulatory compliance roles at IQ-EQ, Greyline Partners, ACA Compliance Group and F-Squared Investments. He holds a business degree from the University of Delaware and a JD from Suffolk University Law School.

Darwin Li

Joined PFM in 2024 after serving as a senior analyst covering global healthcare with a pharmaceuticals focus at Elliott Management. He previously worked in private equity at GI Partners and in investment banking at Credit Suisse, and holds a B.A. in Economics from Princeton University.

Graham Low· Head of Business Developmentin

Joined PFM in 2007 and leads business development. He was previously a managing director in U.S. equity sales at Merrill Lynch. He holds a degree from the University of New Mexico and an MBA from UCLA's Anderson School of Management.

Jonathan Aljoe· Chief Financial Officerin

Joined PFM in 2014 and serves as Chief Financial Officer. He was previously a tax manager at Burr Pilger Mayer and co-founder and CFO of Cerbae LLC. He holds a B.A. in Economics from UCLA.

Lee Hathaway

Joined PFM in 2025 after managing a diversified large-cap healthcare portfolio at Freestone Grove Partners. He was previously a partner and co-head of healthcare at Glenview Capital Management and worked in private equity at Water Street Healthcare Partners and banking at Barclays. He holds B.A. degrees in Economics and History from Duke University.

Raghav Bhargavain

Joined PFM in 2021 after serving as a senior associate on the biotechnology investing team at New Enterprise Associates. He previously worked in healthcare M&A advisory at Lazard and holds degrees in Economics (Wharton) and Biology from the University of Pennsylvania.

Vivek Khannain

Joined PFM in 2012 after roles at Catapult Partners/Millennium and as an analyst and sector head at Argus/Sivik Healthcare. He previously held equity research positions at UBS and Smith Barney, and holds a B.A. in Economics from Delhi University and an MBA from the College of William and Mary.

Jovina Yee

Frequently asked questions

What stage does PFM Health Sciences invest at?
PFM Health Sciences invests at the Pre-Seed, Seed, Series A stages.
What sectors does PFM Health Sciences focus on?
PFM Health Sciences focuses on AI & Machine Learning, Biotech, Consumer, Crypto & Web3, Digital Health, Fintech, Healthtech, Medical Devices, SaaS.
Where is PFM Health Sciences located?
PFM Health Sciences is headquartered in San Francisco, US.

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