Claudio Mifano, CFA

🚀 𝐔𝐧𝐥𝐨𝐜𝐤 𝐒𝐭𝐚𝐫𝐭𝐮𝐩 𝐒𝐮𝐜𝐜𝐞𝐬𝐬 𝐰𝐢𝐭𝐡 𝐔𝐫𝐢 𝐋𝐞𝐯𝐢𝐧𝐞’𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬! 🚀 Uri Levine, co-founder of Waze and Moovit, shares invaluable lessons in his book “𝘍𝘢𝘭𝘭 𝘪𝘯 𝘓𝘰𝘷𝘦 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘗𝘳𝘰𝘣𝘭𝘦𝘮, 𝘕𝘰𝘵 𝘵𝘩𝘦 𝘚𝘰𝘭𝘶𝘵𝘪𝘰𝘯.” Key takeaways include the importance of passionately embracing the problem you’re solving, the necessity of customer retention as a marker of product-market fit, and the strategic use of pitch deck slides. He also emphasises the significance of hiring and firing correctly and observing user behaviour to refine your product. These principles can transform your startup journey, ensuring resilience and growth. 🌟 #StartupSuccess #Entrepreneurship #ProductMarketFit #Innovation

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Roughly 7.5 weeks until we gather in Sintra, Portugal. Nearly 1,000 senior decision-makers, investors, and strategics. This event will be special. Here are a few updates worth getting excited about if you’re planning to attend LSI Europe ‘24: 1. This is the best investor-to-startup ratio we’ve ever had at an LSI event The numbers are terrific and the table is set for connections to happen and deals to get done. Partnering opens in less than 30 days so check out the investor attendees on our site and start doing your diligence early. 2. Another new improvement to our partnering process to help you book more high-quality meetings We’re profiling presenting companies earlier this year so that investors and strategics have more information available to reach out and book meetings with you while also ruling out meetings that they know don’t contribute to their thesis or vision. This means more quality meetings for everyone — it’s a win-win-win for everyone in Portugal. 3. The full agenda is available now (link in comments) + three sessions that caught my attention already - Amber Therapeutics: Landmark $100M Series A, and the Future of Neuromodulation for Mixed Urinary Incontinence - Neuromodulation: Challenges, Ethics, and Unmet Needs Driving Innovation and Investment - Raising Capital From Family Offices ========================== Are you considering joining us? Want to talk through it with our team to get a better idea? Give us a ring or message on LinkedIn and we will make time for you.

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This Series paper delves into the impact of digital tools on heart failure care, covering screening, diagnosis, treatment, and monitoring, and their potential for research. The rapid evolution of technology, global connectivity, and the digital shift in healthcare favor their integration. Despite available therapies, challenges persist, especially in low-to-middle-income countries. Establishing global clinical frameworks for these tools is vital as they reshape patient care and research. #epeeps #AmericanHeartAssociation #HeartRhythmSociety #HeartFailureSocietyofAmerica American Heart Association Heart Rhythm Society American College of Cardiology

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List of notable healthcare focused VC & PE firms from around the world VC Funds 1. OrbiMed (Global) - $15 billion AUM - Largest healthcare-focused VC firm, with a strong track record of investments in pharmaceuticals, biotech, and medical devices. 2. 5AM Ventures (US) - $1.5 billion AUM - Focuses on early-stage biotech investments, with a strong team of experienced investors. 3. Versant Ventures (US) - $3.5 billion AUM - Invests in biotech, pharmaceuticals, and medical devices, with a strong network of industry experts. 4. Abingworth (UK) - $2.5 billion AUM - Focuses on biotech, pharmaceuticals, and medical devices, with a strong team of experienced investors. PE Funds 1. Vivo Capital (Global) - $4.5 billion AUM - Focuses on healthcare investments in the US and Asia, with a strong team of experienced investors. 2. GHO Capital (Europe) - $2.5 billion AUM - Invests in healthcare services, pharmaceuticals, and medical devices, with a strong network in Europe. 3. EQT Life Sciences (Europe) - $1.2 billion AUM - Focuses on healthcare investments in Europe, with a strong team of experienced investors. 4. Water Street Healthcare Partners (US) - $3.5 billion AUM - Invests in healthcare services, pharmaceuticals, and medical devices, with a strong focus on growth and value creation. 5. WindRose Health Investors (US) - $1.5 billion AUM - Focuses on healthcare services and pharmaceuticals investments, with a strong team of experienced investors. Reasons for outperformance 1. Deep industry expertise and knowledge 2. Strong network of industry contacts and partners 3. Focus on innovation and growth 4. Experienced investment teams with a track record of success 5. Ability to add value through operational improvement and strategic guidance

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The leading VC Bessemer Venture Partners just published a new report on the topic "Roadmap: Healthcare AI". I wrote down a few thoughts. 1️⃣ 𝐓𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐝𝐨𝐞𝐬 𝐧𝐨𝐭 𝐜𝐥𝐞𝐚𝐫𝐥𝐲 𝐨𝐮𝐭𝐥𝐢𝐧𝐞 𝐚 𝐩𝐚𝐭𝐡 𝐭𝐨 𝐬𝐮𝐜𝐜𝐞𝐬𝐬 𝐟𝐨𝐫 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐀𝐈 I am a big fan of Bessemer Venture Partners. However, despite containing some interesting elements, this report lacks a clear "North Star," and the key messages are unclear to me. While it seems that Bessemer has put considerable thoughts into the healthcare AI topic, they have yet to converge on a consistent viewpoint (yet). 2️⃣ 𝐁𝐞𝐬𝐬𝐞𝐦𝐞𝐫'𝐬 𝐩𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐟𝐨𝐜𝐮𝐬𝐞𝐬 𝐨𝐧 𝐫𝐞𝐝𝐮𝐜𝐢𝐧𝐠 𝐭𝐡𝐞 𝐛𝐮𝐫𝐝𝐞𝐧 𝐟𝐨𝐫 𝐜𝐥𝐢𝐧𝐢𝐜𝐢𝐚𝐧𝐬 𝐚𝐧𝐝 𝐡𝐨𝐬𝐩𝐢𝐭𝐚𝐥𝐬 I also examined the current Bessemer portfolio of healthcare AI companies. Even the AI-clinically-focused ventures solve pain points for hospitals & physicians (instead of trying to replace them): For instance, Abridge is centered on easing the workload of physicians by summarizing doctor-patient conversations, rather than attempting to enhance diagnostic or therapeutic accuracy through AI-driven tools. Another company, SmarterDx, leverages EMR data and proprietary clinical AI to ensure comprehensive documentation and accurate coding of diagnoses, which directly impacts hospital revenue and quality metrics. 3️⃣ 𝐓𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐬𝐭𝐢𝐥𝐥 𝐡𝐚𝐬 𝐯𝐞𝐫𝐲 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐢𝐧𝐠 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬: 𝐈 𝐦𝐚𝐝𝐞 𝐚 𝐬𝐞𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐛𝐞𝐥𝐨𝐰 ➡️ Markets are smaller than they appear The average hospital spends just $7.8M a year on IT (including electronic healthcare records, security, and personnel). IT budgets are also primarily allocated to services. This means that it is a real "dog fight" for healthcare AI start-ups to be prioritized in the budget. ➡️ AI modality x Business model = 25x The modality of an AI solution (e.g., AI-enabled software, AI-copilots, AI-agents, AI-enabled services, AI-enabled-diagnostics, AI-enabled-therapy) and the company's business model (usage-based versus performance-based) can cause the total addressable market (TAM) to vary by as much as 25x. ➡️ From monomodal (i.e. only images) to multimodal AI Multimodal AI in healthcare remains nascent, but there is also a groundswell of research in multi-modal AI that has yet to be commercialized, such as: ▪️Chat-based pathology copilots (Nature, June 2024) ▪️Multi-modal clinical simulators ((Cornell, May 2024) ▪️Self-driving biomedical discovery tools (Cornell, April 2024) --------- If you're in Europe and want to learn more about the latest AI development in healthcare, be sure to attend HLTH Europe in Amsterdam in June 2025 (the leading HealthTech conference in Europe)! #healthcare #ai #healthtech #vc

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No founder wants to pitch a VC with no cash.  That’s why we’re sharing the list of firms below that have fresh capital to deploy. 🔴 Barcelona based Asabys Partners closed its second $201.3M fund to invest in biotech, med-tech, and digital health companies. 🔴 Chicago based ARCH Venture Partners closed its thirteenth $3B fund to focus on biotechnology companies. 🔴 Palo Alto based DCVC closed its third $400M biotech fund to back data-driven life science businesses. 🔴 Miami based Boldstart Ventures raised its seventh $250M fund to invest in enterprise infra and SaaS startups. 🔴 New York based The Fintech Fund raised its second $10M fund to focus on founders with strong backgrounds in building financial products.

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