Dave Therkelsen is a co-portfolio manager of the First Light Prism Fund and principal for First Light. In addition, as a senior research analyst, he plays a significant role in the execution of the firm’s investment processes, identifying and analyzing prospective and existing portfolio investments for all First Light strategies.
Therkelsen is a 24-year veteran of health care investing with experience across various types of investment strategies and both buy- and sell-side investment firms. Before joining First Light, he was managing director of principal investing for Piper Jaffray. Prior to this position, he was a senior investment analyst for Waterstone Capital Management where he was responsible for investments spanning the corporate capital structure, including equity, debt and convertible securities. Therkelsen also was a senior equity research analyst following the health care sector for Thrivent Asset Management; a managing director and health care portfolio manager for Cargill’s Black River Asset Management where his responsibilities included managing a health care market neutral strategy; and a partner and health care research analyst for RedSky Partners. He began his career at RBC Capital Markets, where he was last a principal and senior equity research analyst following the medical technology industry. He earned a master of business administration (MBA) degree and a bachelor of science degree in finance from the University of Minnesota.