NASHVILLE, Tenn., (April 13, 2015) – Nashville-based investment firm Clayton Associates announces today that Larry Kloess has been named Chairman of the firm. This follows the recent announcement that the firm’s co-founder, Stuart McWhorter, will leave his day-to-day role as president and chairman of Clayton Associates to become Chief Executive Officer of the Nashville Entrepreneur Center.
“Larry has been a leader within our team from the first day he joined us in 2012 and brings a knowledge, skill and dedication to our firm that fits perfectly with the culture we have built for almost 20 years,” said Stuart McWhorter, who will remain on the Clayton Associates’ board of directors.
Kloess joined Clayton Associates in January 2012 as senior advisor to the firm. Kloess is a healthcare executive with more than 35 years of leadership experience in hospital and physician group management. He retired from Hospital Corporation of America (HCA) in December, 2011, after 28 years of senior leadership responsibility including serving as President of HCA’s TriStar Division, an operating unit with 20 hospitals and 10 ambulatory surgery centers throughout Tennessee, Georgia, and Kentucky.
“I have known and worked with Larry for most of my career. I was thrilled that he chose not to officially retire three years ago, but rather, to join us as an advisor. This is a natural progression for him to take this leadership position and I look forward to our continued relationship,” says R. Clayton McWhorter, who will continue to serve as Chairman Emeritus of the firm.
“Our firm has unique and valued relationships with all of our entrepreneurs, advisors, investors and affiliates,” said Kloess, who transitions into his new role immediately. “I am excited about continuing to work with this talented team and continuing our passion for building businesses.”
Kloess will continue to advise with the firm’s venture capital fund, FCA Venture Partners, which is co-led by Matt King and John Burch, and with the firm’s angel fund, Rolling Hills Ventures, which is co-led by Landon Gibbs and Richard Bovender. In addition, Kloess will continue to build the firm’s advisory group, Clayton Advisors, which he co-founded with former HealthTrust CEO Jim Fitzgerald in 2012.
About Clayton Associates
Clayton Associates is an investment firm founded in 1996 by R. Clayton McWhorter, former founder of HealthTrust, Inc. and former Chairman of Hospital Corporation of America (NYSE:HCA). The firm has built on its extensive operating experience and relationships to partner with entrepreneurs and help them build successful businesses.
Clayton Associates makes seed, angel, and venture stage investments in healthcare IT and technology companies. The firm makes seed investments through Bullpen Ventures, with investment sizes of $25K to $75K, to help companies get off the ground. Rolling Hills Ventures, the firm's angel fund, makes $500K to $1.5mm investment commitments.
The venture capital manager of Clayton Associates, FCA Venture Partners, has managed five funds: exited funds FCA I and FCA II, and active funds FCA III, FCA IV, and FCA V. FCA invests $2mm to $6mm in companies with experienced management teams who are implementing proven business models that have well-defined exit strategies.
Clayton Real Estate Services, a real estate investment division of Clayton Associates, focuses on land acquisition and development projects around the Middle Tennessee market.
In 2013, the firm founded a consulting division, Clayton Advisors, striving to accelerate growth and profitability of companies by focusing on innovation, strategy, and stakeholder relationships.
Since inception, Clayton Associates, FCA Venture Partners, and affiliates have invested in more than 100 companies, representing greater than $7B in annualized revenue and the creation of over 20,000 jobs.