NEW YORK, Sept. 15, 2021 /PRNewswire/ — Juxtapose, the leading venture capital fund dedicated to company creation, has partnered with John Clendening, former CEO of Blucora Inc. and senior executive at Charles Schwab, to launch a new financial technology company focused on wealth management and aligned financial services tailored specifically to healthcare and medical professionals.
With Juxtapose’s strong track record of developing businesses that introduce emerging technology to stagnant industries, and John’s extensive management and operating experience in financial services, they are building a first-in-industry digital financial platform to meet the unique needs of a large, yet underserved, customer base. Over the coming quarters, John will be working closely with Juxtapose to build a world-class leadership team, with the new company to launch publicly in 2022.
“We are thrilled to partner with John, a singular leader both in terms of experience in wealth management but also his time with disruptive financial technology services companies, to partner with us on this new venture,” said Patrick Chun, Juxtapose’s Managing Partner. “Building long-term relationships with the technology world’s best entrepreneurs has always been central to our approach, and John is the perfect partner to build a world class technology platform to modernize the financial services space for verticals such as healthcare.”
“I am grateful to have the opportunity to build a company with Juxtapose, a firm whose views align with my own when it comes to delivering better outcomes for clients by creating products and services that are personalized, comprehensive, and purpose-built,” said John Clendening. “In a world where existing platforms from the past generation were built around one-size-fits-all models, partnering with Juxtapose to build this innovative company from the ground up is an opportunity I could not pass up.”
John most recently served as CEO of Blucora, Inc., a publicly traded financial services business with leading innovations on driving tax-smart outcomes for consumers. At the helm of Blucora, John delivered double-digit annual growth in revenue, EBITDA and EPS, and drove a total Stock Return of 66%, placing BCOR in the top 3% of the Russell 2000.
Prior to Blucora, John spent over a decade as one of the senior most executives at Charles Schwab. As EVP and Co-Head of Charles Schwab’s US and International retail division, John led a team of 5,600 to 70% profit growth over a three-year period. During his tenure at Schwab, John played a leading role in transforming the firm into the leading omni-channel wealth manager, with modern digital experiences and an industry leading suite of advisory services. John also served as CEO (and Board Member) of Schwab Bank.
In addition to his operating and managing experience, John has uniquely qualifying advisory and board level experience with disruptive, technology-oriented financial service organizations. This includes his time as board member at Betterment, one of the first nationwide robo-advisory technology ventures, as well as his current board role with publicly traded Silicon Valley Bank.
Juxtapose has extensive experience in building industry-disrupting businesses from the ground up. In March of 2020, Juxtapose closed $300MM for its second fund, the largest of its kind dedicated to company creation strategy, bringing total assets under management to $450MM.
About Juxtapose
Founded by Patrick Chun and Jed Cairo in 2015, Juxtapose is a venture- and creation-oriented investment firm that builds industry-transforming businesses from the ground up. The fund has been involved in the creation of, and investment behind, technology companies such as Care/of, Tend, Orchard, Great Jones, DayForward and Modern Age. Juxtapose’s aim is to partner with the world’s most experienced and talented entrepreneurial operators to found and scale category-defining technology companies that are set up to win in the industries in which they operate.
Read more at juxtapose.com.
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SOURCE Juxtapose
