Presentation from our Annual Team Offsite at Stinson Beach in July 2017 included below.
This shares some of the lessons from our investments involving life sciences (starting with Ginger.io in 2011 + Moleculo in 2012) as well as some of the evaluation criteria we think about for potential future opportunities.
As a firm, our focus is leading the first institutional round (usually pre-seed or seed) with investments of $500k to $3m. We often invest with angels and love research work coming out of universities or other labs.
For companies based in core science or research – we like to see:
- Great science with large potential impact
- Therapeutic applications in healthcare
- Other non-healthcare applications with high margin potential
- Founder is a leader in the space
- Ability to develop cornerstone IP + reputation in the space
- Multi discipline teams; cross discipline individual expertise
- Path to efficacy (or similar metric) on less than $10m of paid in capital
- Market size + Product + New Type of Regulatory Risk
- Platform opportunity with large market potential
- Ability to build defensible data moat is key
- More data makes technology better; increases enterprise value
If you think you’d be a fit with our portfolio based on the above information, please reach out – it’d be great to learn more.