Wavemaker Three-Sixty Health, a Pasadena-based health care venture capital investor, has exited its portfolio company Ciitizen Corp., a patient-centric consumer health tech company.
 
Invitae Corp., a San Francisco-based medical genetics company that has been on a buying spree of 13 businesses to expand its testing menu over the past five years, agreed to buy the 3-year-old startup Ciitizen in a $325 million cash-and-stock deal.

Proceeds to Wavemaker from the sale have not been disclosed.

Wavemaker General Partner Jay Goss would not immediately comment on the scale of Wavemaker’s total investment but noted in an email to the Business Journal that his fund had invested in Ciitizen in two funding rounds: the first coming in August 2018 and again in October 2020 during the pandemic.
 
Goss would also not elaborate on specific raise amounts but noted that partners John Nackel and Eric Marton joined him as “leads” on this investment.

Wavemaker’s first raise in 2018 closed at $17 million, and was used to invest in 32 healthcare companies. Goss said Wavemaker has invested in nine companies from a second fund that has currently raised $40 million with a target of $50 million overall.
 
Ciitizen is a Palo Alto-based health care technology company that helps patients get full control of their medical records to access better treatment options including participation in research and clinical trials.

Invitae agreed to pay $125 million in cash, over 7 million shares of its common stock, and issue roughly $225 million in restricted stock, which becomes transferable to common shares once certain conditions are met, according to Invitae.

Last year, Goss told the Business Journal Wavemaker was weighing investments in companies that are “fighting the good fight on Covid-19” and that can scale quickly to widespread use in the United States.

Goss defined the fight against the coronavirus broadly, including not only more obvious pursuits like test kit development but also tools that assist doctors and health care industry infrastructure.
 
Wavemaker has tapped funding for nine startups from last year’s $40 million fund.
 
Its newly funded companies include Tombot Inc., a Santa Clarita-based creator of Jennie, a medical grade robotic animal designed to stimulate emotional attachment; Nest Collaborative, a West Hartford, Conn.-based consortium of lactation consultants who conduct online video appointments to help women breastfeed; and Strados Labs, a Philadelphia-based medical technology company that specializes in respiratory health management.