Nirmesh Patel

We had the pleasure of speaking to the inimitable Gordon Sanghera, co-founder and CEO of Oxford Nanopore Technologies, valued at around $6.8bn in 2021. Gordon somewhat accidentally ended up as an entrepreneur, breaking the conventional VC wisdom around 'born founders'. The technology is wild - democratising access to genomic sequencing giving us a new understanding of living organisms. In the episode of Riding Unicorns, we cover: 00:00 Defining Entrepreneurship 00:55 Understanding Oxford Nanopore's Technology 06:10 Gordon's Journey to Founding Oxford Nanopore 12:09 Commercialization Challenges and Strategies 16:27 Building a Strong Founding Team 20:55 Navigating the Ups and Downs of Deep Tech 25:54 Innovative Applications of Nanopore Technology 28:57 Company Culture and Operational Insights 35:05 Attracting Talent in a Competitive Market 37:22 The IPO Experience and Future Outlook https://lnkd.in/eQZVSGeK

18

1 Comment

Congrats to our portfolio company Syntara on presenting excellent Phase 2 data in myelofibrosis at the American Society of Hematology (ASH) annual meeting. The results highlight continued improvement in symptoms and spleen volumes over time, coupled with an outstanding tolerability profile - key factors that set SNT-5505 apart from other drugs in development. We believe that SNT-5505 is well positioned with this data and its unique mechanism of action. There is a massive unmet need in myelofibrosis for treatments that do more than just treat symptoms, but rather modify the disease and improve survival. Syntara is a perfect example of the valuation disparity we see between Australia and the US. Kartos are developing navtemadlin for myelofibrosis and conducted a raise in Aug-23 of the back of their Phase 2 trial in the same patient population raising US$150m on a pre-money valuation of US$500m. This ~A$1b post-money valuation is more than 10x higher than Syntara's ~A$80m market cap - a disparity that does not reflect the quality of Syntara's results. Exciting times ahead.

39

When the first alphabet in these conversations changes from 'M" to 'B', you know the funding winter is transforming into spring 🌱 #VC #VentureCapital #Earlystagefunding Read more about the latest monthly funding report for VC funding in July 2024 here: ttps://https://lnkd.in/dhdWF8fP

8

Today we announce that we have successfully raised £20million to invest in scientific startups developing breakthrough solutions for deep decarbonisation. I joined Zero Carbon Capital in August '22 and it has been incredible! I happily spend my time talking to bold and intelligent entrepreneurs, searching for high impact investment opportunities, learning about industry sectors and technologies areas, and supporting our awesome portfolio companies in their long road ahead. I feel so grateful that my job is hopeful in the midst of a climate and environmental crisis. That I get to focus on solutions and be pro-active in finding and supporting the technologies, processes, products that could take chunks out of global greenhouse emissions and get us on track to a net zero 2050. Most of all, I have found my people. What better way to spend my days than with a team of super smart, mega determined people who care about the same things that I do! Chloe Coates, Max Werny, Alex Gawley - what a joy! And Pippa Gawley - for all that and for your leadership. Your leadership in a historically male dominated VC industry is a beacon. And this extends to the whole ClimateTech ecosystem - it energises me to work in a sector of like-minded people, passionate about the work we do. The conversations, exchanges, brainstorming make the job even richer! Let's keep going! Hold on to the vision for 2050 - a healthy planet! Our goals are achievable! https://lnkd.in/erWfvwz2

429

23 Comments

At 53 Stations, we’re inspired by the incredible ways AI is driving innovation in healthcare and life sciences—and Labviva is a standout example of that potential. Labviva's procurement platform is transforming life sciences R&D by automating procurement, providing supply chain transparency, and revolutionizing how laboratories manage purchasing, tracking, and inventory replenishment. It's been a pleasure to watch their progress and see how they're accelerating the pace of science. I'm very excited to share that 53 Stations led Labviva's $25M Series B, alongside an exceptional group of existing investors. We're looking forward to partner more closely with Siamak Baharloo, Nicholas Rioux, and the talented Labviva team as they continue to drive meaningful change in the industry. Read more about our investment here: https://lnkd.in/gbVGTSvs cc: Jason Pritzker

68

2 Comments

 📣Join Our Mission: Women's Health! Despite recent growth in the women’s health space, there is still unmet demand for products and services. Menopause has been a particularly overlooked segment of the market: only 5 percent of FemTech start-ups address menopause needs globally (McKinsey & Company, 2024). Nevertheless, the acceleration of advances in women’s healthcare holds considerable implications for investors and stakeholders across the value chain and beyond. At KRING, we're pioneering innovative solutions in women's health, focusing on cognitive health, sleep management, menopause, fertility, and more - with Menopause, an active health challenge we are currently exploring. While diving into Validation, our concept has garnered significant interest across the health innovation ecosystem, corporate partners, and investors. ✅ Chief Commercial Officer (Co-founder) We're seeking dynamic Commercial Co-founders with robust entrepreneurial backgrounds with experience of scratch to commercialization, and exceptional leadership skills. Experience in negotiating complex agreements is advantageous, but a passion for women's health is essential. https://lnkd.in/dVRwJ6i8 ✅ Menopause Expert: Chief Product Officer (Co-founder) We're looking for a scientific expert with a deep understanding of medical science, clinical research, and regulatory requirements, to lead the development of innovative healthcare solutions for women's health. https://lnkd.in/dXX3RWQY 🧠 The Concept: Building a Digital Platform for Women's Health Our digital platform helps women tackle midlife challenges, including menopause, by enhancing sleep quality, addressing weight gain, and boosting self-confidence. Components include data gathering, tailored recommendations, personalized wellness programs, and a supportive community. 📍Join Us in Copenhagen Our team is headquartered in Copenhagen, offering an exciting opportunity for individuals based in these cities or open to relocation. If you're intrigued by this opportunity, we'd love to hear from you. Reach out to Marina Miteva and Agnes A. to learn more. Join Entrepreneurs, Innovators, and Investors like Britt Meelby Jensen, Kristine Leerbeck, Christina Høgh Selmer Kirk, Anne Mette Bang, Benjamin Suhr, Anja Monrad, Sonal Pendharkar Kulkarni, Ella Smoraczewska Harris, Fanny Hauterat, Sumeya Hassan, Rosemarie Wedell-Wedellsborg, Jane Kudsk, Susanne Brønnum, Pernille Foss, Sara Maria Franch-Mærkedahl, Gitte Nipper, Jenny-Ann Axson Johnson, and more in revolutionizing healthcare and shaping the future of women's health. Apply now.

41

4 Comments

I'm speaking at SuperVenture 2024 on the 5th of June in Berlin. The topic of the panel is emerging VC managers: time to shine or out of their depth? Are LPs fleeing to established names and those that cut their teeth during previous cycles? Or is now the time for emerging managers to bring something different to the table? Is volatility leading to true innovation and disruption? We’re on track to see approximately 44% of the total LP capital committed to US VC funds since the start of the year go to just two large established VC platforms, according to PitchBook data. While many established VCs maintain their allure, there is a subset of LPs who are making a deliberate choice to increase their allocations to specialist emerging VC managers - managers who have spun out from established funds and have an attributable track record, founders with deep operational experience turned funders or academics with deep domain expertise. There is non-trivial added complexity when it comes to emerging VC selection – given the large number of funds needed to be screened and the more complicated referencing and DD process. Data highlights how important it is for GPs to identify & back ‘big winners’ early on to drive fund returns. Typically, ~5% of invested capital in a few winners drives most of the return (>50%). The VC model is built around investing in early-stage companies each with the potential to more than return the whole fund. Who has the right to win? Who will the best founders (and LPs) decide to partner with? #SuperVenture #VC SuperReturn

77

7 Comments

In Amelia Hill's second article on the challenges facing #femtech founders, she outlines some of the other barriers which are just as much of a brake on growth as lack of investment... 😲 Of the 35 femtech companies that responded to censHERship's online survey, 75% had been refused a bank account; 60% had had an account closed, 50% faced “excessive scrutiny”, 32% experienced delays in processing and 21% were charged higher fees. 🛑 But even if you clear these hurdles, your online ads are likely to be blocked or banned. 🐣 As an eg from our portfolio, Béa Fertility is banned from using the word "vagina" in the description for their medical-grade fertility device on Amazon. (Of course, no such prudishness exists around male sex toys or products for erectile dysfunction!) 😇 There are no easy fixes, but we can all advocate for these businesses and buy their products. Some of us with spare cash to invest can choose to support them through angel investment. Read the full story here 👇 https://lnkd.in/e_xRFfUC Amber Vodegel John Souter Angela Cretu Faye Walsh Drouillard Deborah Gruenberger Rosalind Singleton Sally Kemkers #femalefounders #angelinvestors

13

2 Comments

It's been great to get a first-row seat to Transition Biomining's evolution! Sasha Milshteyn walked into our offices for a casual meet & greet back in 2023, with just a notebook. He walked out of the meeting with a key fob to our offices and access to our labs, launching a stealth-mode build that would become Transition Bioming. haha! Copper is an entrenched industry, highly concentrated, and with an undeniably strong demand pull for the energy transition. The industry has to think hard about how to cater to demand at a time when ore quality is declining and mixed diverse mineralogies at mines prevent existing approaches to tap the reserves economically. Check out how Transition Biomining can make a dent with an asset-light approach that brings out the best in each heap of copper. Got to roll up my sleeves and made my first cameo with this video! Hope you enjoy it. https://lnkd.in/d6bD_r95 #copper #energytransiton #cleantech #climatetech #vc #seriesseed

43

1 Comment

Fresh out of the oven!! Check out this post I have written to find out more about the story and the history behind our new Acurio Ventures name https://lnkd.in/dv3vNdNk

114

10 Comments

UK is an amazing place for incubating startups and spinouts. Scaling healthcare innovations here is really hard. Startups find it hard to navigate NHS and private health market, demonstrating clinical utility, meeting regulatory requirements, and achieving market access. Recognizing these challenges, this year working with my brilliant partner Gurnam Selvarajah at Brunel Partners Academic Centre for Health Sciences (BPACHS) at Brunel University of London, we have founded ScaleUps Ventures, a unique accelerator focused on go-to-market and commercialisation acceleration. I'm thrilled to announce that applications for second cohort of ScaleUps Ventures' Health & Social Care Accelerator is now live! 🚀 Our remote-first program will enable 10 selected pre-Series A companies across the UK to accelerate their go-to-market strategies enabling investor and grant fundraising. We are also pleased to announce that our consortium of partners now includes: ·        Brunel Partners Academic Centre for Health Sciences at Brunel University ·        NHS Trusts of Guy’s and St Thomas’, London North West, Central West North London, Imperial College Health Partners and Hillingdon Hospitals ·        Queen Elizabeth Olympic Park ·        Health Innovation Kent Surrey Sussex ·        Medipex Ltd Healthcare Innovation Hub in the North of England ·        EIT Health, a non-profit promoting entrepreneurship co-funded by European Commission The cohorts will be supported further by sponsors and collaborators including Williams Powell, Prevista Ltd, Lighthouse Innovations Ltd THE GRIT MAKERS Unbounded Future who provide a marketplace of expertise in Market Access, Intellectual Property Management, Grant Applications and Regulatory. Pleased to welcome our advisory and delivery partners cc James Ross Nana Theodorou Logan Ryan Tahseen Tayob MD MPH Hatim Abdulhussein Graham Armitage Shona D'Arcy Patrick Reidy Rakesh Roshan Robert Jehan Lindsay Georgopoulos Shobana Iyer Salik Miah Samir Khan PhD Arthi Manohar Monomita Nandy Mann Matharu Mouna Laaragat We're seeking innovators in: • 🤖 AI in Healthcare or AI for Good • 🩺 MedTech (regulated medical devices) • 📱 Digital Health (RPM, Virtual Wards, SaaS) • 🦾 Robotics and Deep Tech • 👥 Tech-enabled Social Care • 🌿 Sustainability and Net Zero solutions Why join? • 🔑 Direct access to NHS decision-makers for clinical and R&D collaborations • 📈 15+ sessions and 1:1 guidance on innovation, clinical evaluation, market access, and export markets • 🤝 Collaborate with industry leaders on grants and R&D • 💰 No equity taken • 🛒 Access to a paid marketplace of curated service providers Applications are open to businesses innovating across the UK. Deadline: 22nd January 2025 Apply now at www.scaleupsventures.com #HealthTechInnovation #NHSInnovation #HealthcareAI #SocialCareTech #MedTechStartup #DigitalHealth #StartupAccelerator #HealthcareEntrepreneurship #AIforGood #ValueBasedCare #NHS

61

"Funding Collapse sends investment in start-ups to six year low" The Times today covering the shocking stats that VenturePath uncovered, with our partner Beauhurst. Great quotes from supporters Michael Moore CEO, BVCA and Julian David CEO, techUK. * UK VC funding at Series A is -44% from last year, and worsening * Q3 24 is down a staggering 57% from Q2, itself down from Q1 * 9 in 10 seed funded startups cannot access Series A VC funding, the next 'rung on the funding ladder' * Just 32 future scaleup companies across the whole of the UK were able to access their first VC funding round in Q3...a 6 year low * Half a billion less capital is going in to UK scaleups at Series A, than just 2 years ago! As the UK scaleup funding gap widens, we are losing ground against other countries, at both startup stage (a position the UK worked hard to achieve, since 2011), and for scaleup support. OECD data: 13th in the world for scaleup support, and that's before Series A funding access dried up. I get that its confusing. Another report (BBB, Nations & Regions) released this week spoke of positive trends in private investment, stating "The data for Q2 2024 shows that investment value has continued to grow". Great, I love to see optimistic data. But under analysis that bundles venture with private equity (later stage), where a few megadeals skew the numbers. Otherwise the exact opposite is true. Our independent research here, for the UK ScaleUp Investment Mission, is laser beam focussed on Series A. The funding round where companies move from the c.1m startups launched each year, through the 2,179 that access seed funding, into the rarefied category of being recognised as future scaleups, attracting Series A funding (£2-10m). The UK venture landscape is currently funding just 248 pa of these companies, and declining. We've been sharing this urgent call for support with the new Government since the day after the election. I've personally met with several Ministers, and spoke to all the relevant Government departments. I will shamelessly repeat loudly what is at stake. UK scaleup funding at Series A has nearly halved in a year, and continues to decline steeply, more than halving in the last quarter. VenturePath developed The UK ScaleUp Investment Mission to convene the scaleup support ecosystem and £7bn of funders to help address this problem, to improve nationwide access to VC investment, and create more venture-backed successes. We have clear support, clear recommendations to reverse this decline in UK scaleup investment, and have made a clear ask of Government for participation in this, to ensure immediate action is taken to create the conditions for success for UK scaleups, ensuring the focus on growth isn't undermined by lack of capital, or equitable access to it. Government decision makers, we'd love your interest, to progress to action. HM Treasury: Rt Hon Rachel Reeves Spencer Livermore James Murray & CC Poppy Gustafsson (welcome to the debate).

738

192 Comments

Looking forward to joining this panel to discuss the fine balance between growth and burn for SaaS companies in the current funding environment alongside some great investors and operators:Jaysri, Julia, Rasika & Eva!

38

#DeepThoughts Once a week the #deeptechbio team at Octopus Ventures share a topic which we have been thinking about. We want to create conversation, meet founders and experts, and share our excitement! 🤓 OV is a generalist fund of specialist teams. Internally we’re split into six different groups - or ‘Pods’: Deep Tech, Biotech, Consumer, B2B, Health and Fintech. You might notice that Climate Tech is missing from that list. We’ve experimented with a Climate Tech Pod in the past, but it became clear that Climate was a motive force more than a domain specialism and that Climate Tech entrepreneurs could run businesses that straddle any number of our Pods. So instead we've embraced a Pods and Tribes model (thanks Spotify) forming a team of Climate Tech investors that sit across our Pods, making sure we always have the right mix of people sourcing and reviewing Climate opportunities. I'm sharing this structure because it highlights how challenging it can be to categorise a Climate Tech startup. The consensus online is that a Climate Tech startup is one whose trading activity supports either the mitigation of, or adaption to, climate change. The breadth of potential activity within this definition makes it very hard to evaluate a given company’s Climate Tech credentials however. In response I’ve been developed a mental model for Climate tech classification that I thought I’d share today. First Order These companies have a direct effect on atmospheric warming. They might do this through Point-Source Capture, like Seabound; through the replacement of fossil fuels with green alternatives, like DRIFT Energy Ltd or copenhagen atomics; they could focus on the capture and sequestration of atmospheric CO2, like Brilliant Planet; or they might offer low emission alternatives, as Arda Biomaterials does with leather and SCiFi Foods does with beef. Second Order These startups engage in commercial activities that have an indirect effect on atmospheric warming. Remote monitoring services, such as AIRMO's methane monitoring solution, or Solaris Suborbital Inc.'s wildfire monitoring service, are good examples of this type of Climate Tech. Third Order These companies vital to accelerate our transition towards net zero emissions. Companies like Metris Energy, who are accelerating the deployment of solar energy by commercial landlords; Kita, whose insurance offering accelerates the maturation of the carbon markets; and Origami who offer Battery Energy Storage System owners a way to optimise the yield on their assets. NB. Whilst it’s true that there is an increasing bias towards Bits over Atoms as you move outwards from a direct interface with our Atmospheric composition, I don’t believe classification it’s as simple as an Atom vs. Bits distinction. How do you think about the divisions within Climate Tech space? Are there any exciting Climate tech startups we should be looking at? Let us know in the comments below.

56

3 Comments

Are you interested to #invest in #fungi #startups? Get in touch! We are working on two startup cases now and will coordinate an investment syndicate. So if you are an angel investor or family office, reach out if interest to hear more. #fungi #biotechnology #microbiology #futurefit #startups

77

2 Comments

Read more about our latest investment below 🙌!!

7

As the Global Bio India event concluded last week, it served as a premier global showcase of innovations and how scientific research is breaking barriers in #healthcare and #bio. Standing next to the #product by Fuselage Innovations, which offers a unique value proposition in the #agritech industry. Based in #Kerala, it is interesting to see how these events bring together the #diversity of India, fostering knowledge sharing and the exchange of innovative products. Why we need more of such platforms! Agri-drones as a concept to enhance #crop yields in a country so heavily focused on agriculture is intriguing. The product helps improve crop protection, enhance #farming efficiency, and address concerns like labor shortages and environmental conditions. This fusion of #agriculture and #robotics seems to significantly transform the sector by navigating how traditional farming could embrace new #technologies. #globalbioindia2024 #biotechnology #event #research #innovation #collaboration #agritech #fuselageinnovations #agridrones #drones #startup #vc #LegendaryVentures 💥 - - - Ken Ma - - - 💥 Legendary Ventures

25

4 Comments

Really excited to announce our investment in Xgenera! Xgenera are revolutionising cancer diagnosis with their multi-cancer early detection (MCED) test, miONCO, which can identify 12 of the most prevalent and life-threatening cancers at early stages, often before symptoms manifest. Our decision to invest was significantly influenced by Xgenera's exceptional leadership team. Co-founders Dr Andy Shapanis and Professor Paul Skipp bring over 25 years of internationally recognised research experience in oncology and cancer biology. Their dedication to advancing early cancer detection aligns perfectly with our mission to support deep-tech ventures addressing global challenges. We are excited to support Xgenera in their journey to transform cancer diagnostics and improve patient outcomes worldwide. Empirical Ventures, Ascension, QantX Madeleine Nichols, PhD, Johnathan Matlock, Curran Kalha, Ph.D., Trang K. Nguyen, Alexander Fink, Keith Lipman

48

2 Comments

🌟 Interesting yet unsurprising findings from the latest VC performance report: 📈 Established European venture capital funds (fund 5+) are delivering 2x the IRR of New (fund 1-2) and Developing (3-4) funds. 🌍 European VC funds consistently outperform their US counterparts, underscoring Europe's strength in the global investment landscape. Read the article at sifted https://lnkd.in/eZYF4THT

36

9 Comments