Nate Tower

Founders often feel alone, and have many questions without answers. To combat this, eQuo is creating Founder Circles. An eQuo Founder Circle is a closely knit group of 10 complementary companies that foster peer-to-peer support among CPG founders and industry professionals. These circles encourage accountability, networking, and resource sharing, helping you navigate the complexities of the CPG industry effectively. You can register at https://lnkd.in/gsrTTGPw. The system operates through intimate micro-groups of 10 members, ensuring meaningful interactions. Weekly meetings with structured agendas and a dedicated forum for continuous engagement, along with twice-weekly open office hours, foster community involvement. Members leverage shared industry knowledge, collaborate on projects, and stay informed on trends and regulations. Our goal is mutual support and reverse mentoring. It's free and we want to use it to really help CPG companies to grow, vent, learn and adapt to challenges along the journey. If you are a founder, register at https://lnkd.in/gsrTTGPw. If you know a founder who could use support, tag them. #founders #entrepreneurship #mentoring #support #eQuo

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The (Healthcare) Ground Beneath Our Feet… This year it is likely that over $10 billion will be invested in the digital health sector – a robust amount, no doubt, but inconsequential when compared to the amount of capital tied up in healthcare real estate assets, which is estimated to be $1.2 trillion by Jones Lang Lasalle. Of that amount, approximately $790 billion is in the hospital sector while the remaining $490 billion is in medical office assets. It is estimated that there are 48.6k facilities with 3.4 billion square feet of healthcare real estate, 42% of which are owned by REITs and another 33% held by other private investment vehicles. Much of the digital health investment is meant to make the physical healthcare infrastructure more productive: greater operating efficiencies, greater patient throughput, more relevant personalized care models with better outcomes. As the healthcare system is being pushed to be more distributed to lower cost sites of care, accelerated now by the rapid proliferation of automation and AI capabilities, the potential impact on healthcare infrastructure assets will be profound. Thoughts on what that might look like... https://lnkd.in/eTfAdUbS #digitalhealth Flare Capital Partners

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It was wonderful to be in conversation with Madison Mills of Yahoo Finance at their annual Invest conference earlier this week. We covered everything from the venture outlook for 2025, impact of elections on women's health investing and innovation, and more. Full clip and summary below 👇 https://lnkd.in/gS67sc2Y

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Last week, I had the pleasure of moderating a discussion on navigating FOAK in climate tech at the Greentown Labs Summit in Boston (which had >600 people!!). Here’s a quick rundown of what was shared by Katherine St. James of Spring Lane Capital, Paris Smalls, PhD of Eden GeoPower, and Hannah Friedman of Planeteer Capital: 🌱 What is the definition of FOAK? We discussed how the term can be controversial - it's almost too general because it doesn't identify what kind of "First" FOAK refers to - first team project? First geography? First of a technology in a sector? First time for the integration of a system? It's also too specific because it has the word "first" in it, which can be anathema to later stage / project finance investors. 💰 Partnerships for Funding FOAK Projects We discussed how important it is to build a blended capital stack & use off-balance sheet capital for a project so you're not using the most expensive equity dollars to fund an infrastructure project with low-ish IRR. We also talked through being creative about using corporate partners to provide in-kind services or ink some agreement (at least an LOI) to attract this funding. 🏛 Role of Government We talked about how government capital is seen by investors & how it can be catalytic for FOAK. Government capital can provide validation that a startup has passed a rigorous diligence process by a third party - and incentives like grants or credits can help improve returns for the first project- but it's important to be doing this in conjunction with getting customer validation and to be able to present line of sight to competitive economics without concessionary capital. 👥 Advice for FOAK startups The panelists offered some very specific pieces of advice for startups going through FOAK: how to get creative with things like revenue sharing agreements or convertible notes, getting smart with project development early on (like with DeveloperU), being careful about using FOAK too liberally with certain investor groups, getting the right commercialization / FOAK talent in and around you early Huge thanks to the panelists and the team at Greentown Labs (Jill Kirkpatrick, Julia Travaglini, Aisling Carlson, etc you rocked it!!) for hosting this discussion on bridging the FOAK gap. Also immensely enjoyed the rest of the agenda. Check out the full recap & videos here: https://lnkd.in/d9ApYe9Y #ClimateTech #FOAK #ClimateFinance #ProjectDevelopment #GreenTech #CleanEnergy

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My colleague Estia Ryan posted her research on consumer trends yesterday (link in the comments). This chart on the increase in health spend stood out to me. Cool to see at a high level but there are three really important considerations: 1. Efficacy: is this spend going on products and services that actually improve long term health. 2. Affordability: if the spend is going on products that really impact health then we need to make sure that the products are mass market affordable and accessible. 3. Distribution / Access: if products work and are affordable then distribution channels should encompass D2C, employees, insurers and public sector health systems so truly everyone can benefit. I think these multi channel distribution models are going to be both a huge challenge and a huge opportunity over the next 10 - 20 years as diagnosis and care move earlier in the life of conditions and further from traditional clinical settings.

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Nothing like seeing your customers succeed! Even better its founded in good science that is helping people live longer, healthier lives. Congrats to Dennis Bernstein, Eric Venn-Watson MD, MBA, and the entire fatty15 team on their latest clinical trial The Journal of Nutrition released a report supporting that fatty15 can treat nutritional C15:0 deficiencies and reverse Cellular Fragility Syndrome. Cellular Fragility Syndrome, caused by low C15:0 levels, is the first nutritional deficiency syndrome to be identified in over 75 years. Studies support that Cellular Fragility Syndrome may be present in as many as 1 in 3 people, leading to accelerated aging and onset of aging-related conditions. The good news is that C15:0 nutritional deficiencies can be easily identified and treated. This randomized, double-blinded, and placebo-controlled trial included young adults (18 to 24 years old) and was led by UC San Diego. Here are the key findings from this important study: 1) 2 out of 3 study participants had C15:0 levels that met the criteria of nutritional C15:0 deficiency, 2) fatty15 safely and significantly raised C15:0 blood levels, and 3) those who achieved nutritionally sufficient C15:0 blood levels had clinically relevant evidence of reversing Cellular Fragility Syndrome, including improved liver function and red blood cell health. Go check out their awesome product! Link in comments!

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Anne Wojcicki, CEO of 23andMe, has announced plans to take the genetic testing company private. This strategic move aims to provide more flexibility in navigating regulatory challenges and to accelerate growth opportunities. The decision follows a trend of health tech companies seeking private ownership to focus on long-term objectives. Wojcicki highlighted the importance of this shift to maintain the company's commitment to innovation and customer-centric services. Taking 23andMe private reflects a bold step towards enhancing its position in the rapidly evolving genomics industry. Read more about this exciting development here: https://lnkd.in/gdrC3a64 #genomics #IPO #privatisation #23andMe

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What's been happening in mental health? ⏺ Vitalic Health raised a $4M seed round for its geriatric behavioural health care platform. ⏺ Kooth Digital Health landed a $1.45 million pilot contract to provide their Soluna platform to over 50,000 students across New Jersey. ⏺ Peer support startup Fello , led by former Uber Eats executive Alyssa Pollack, raised $10.4M for virtual, app-based peer support designed to combat the loneliness epidemic. ⏺ Oceans Healthcare acquired Haven Behavioral Healthcare , expanding to 5 new U.S. states and adding 7 new locations. ⏺ Mabel raised a €600K pre-seed round to help improve women's mental health through microdosing programs and mushroom-based supplements ⏺ Wysa published a paper on the impact of their early stage digital mental health interventions for Singaporeans. ⏺ Applications for the KHP Ventures Mental Health immersion programme close tomorrow (Jan 7th) (All links below) __ If you liked this and want insights on the mental health industry in your inbox every week, subscribe to The Hemingway Report newsletter and follow me Steve Duke 📩 #MentalHealth #BehavioralHealth

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We're lucky at Rock Health Capital to have closed our most recent fund in Q3 2023. And while we think nothing is more important for a startup than entering a massive market with a product that customers absolutely must have, we aspire to be the partner who helps entrepreneurs anticipate and overcome the challenges in building a VC backed health care business. Believe it or not, right now inflation is one of them - quietly affecting VC deal-making. As a starting point… Hopefully you took a look at our funding report last week: https://lnkd.in/gAYP8PWJ As always, we left some good the stuff on the cutting room floor. My least/most favorite. Here are three takeaways we couldn't fit into our Q2 report on how persistent, high inflation is impacting VC: 1. In real dollars, digital health VC funding is roughly FLAT with 2018 In nominal dollars, 2024 will likely close at around $11B in funding - around 25% up from 2018. In REAL dollars, however, VC funding is largely unchanged from the ~$8B+ raised in both 2018 and 2019 (prior to the pandemic mania). https://lnkd.in/gBvpkuYp 2. Most of the "fresh" VC dollars being deployed today were committed to VC funds between 2020 and early 2022 - which have only about 80% - 85% of their original "purchasing power." Inflation has reduced the purchasing power of these dollars to a remarkable extent. For comparison, funds raised in 2012 (just 10 years prior) faced only ~3% in loss of purchasing power over a similar period of time. GPs who raised 2-4 years ago face pressure that VC as an industry isn’t designed or accustomed to dealing with. 3. The #1 cost in a startup is people. So, wage inflation is what matters most... Growth in average wages since 2020 is around 25% - higher than either CPI or PCE (depending on which “headline” measure you prefer). For my fellow nerds who want to dig into the BLS data, the story for software and technical workers and for the MSAs where startups tend to be built is the same but much more. https://lnkd.in/gYJ_TPiD If that’s not nerdy enough, you'll enjoy Michael A. Greeley’s most recent post. As always, it's a thoughtful review of the dynamics affecting both healthcare VC investment and capital allocation within VC as an asset class, writ large: https://lnkd.in/gDqFfuz9

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Unlocking Successful Exits As a venture capital investor leading HealthCap Africa , I've had the privilege of navigating multiple successful exits. Watch this video to discover the strategies and best practices that have enabled my exits. Key Takeaways 1. Effective exit planning and execution 2. Maximizing returns through IPOs, secondaries, and acquisitions 3. Navigating complex deal dynamics #VentureCapital #ExitStrategies #IPO #Secondaries #Acquisitions #InvestorInsights #GrowthStage #PrivateEquity

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A Numerator survey covered by The Wall Street Journal offers insights into the eating habits of GLP-1 users (i.e. those on Ozempic and Wegovy). Some key findings include: • 38% report eating fewer cookies, pastries, and cakes • 36% are drinking less soda • 32% consume less chocolate • 26% eat less fast food Meanwhile: • 42% report eating more fruits and vegetables • 19% eat more poultry • 20% consume more yogurt It’s surprising that some major food companies claim these drugs aren't impacting sales or forcing an adjustment to their portfolios. Others, however, are embracing the shift and have already launched product lines tailored to GLP-1 users. Whatever your view on these drugs, it’s exciting to see more high-protein, fiber-rich, and nutrient-dense options from the biggest food companies. This demand may be driven by GLP-1 use; it also reflects greater consumer awareness and an appetite for healthier choices. New Fare The Wall Street Journal Aaron Back

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As I wrote earlier, Venture Builder is an attractive new tool for early-stage investment in deeptech startups. Investments in the Venture Company Initiate, which specializes in healthcare, attracted $45 million, a vivid example. If you are considering investing in healthcare startups and would like to learn more about investing in Venture Builder, please email me.

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HUGE thanks to everyone who came to Riffle Ventures and LabStart's #climateweekNYC event yesterday on how to close the "Zero to One" gap in #climatetech. We often say "Now all we have to do is deploy" or "We have all the solutions we need now we just need to scale them". But keep in mind that to roughly 40% of the technologies needed to hit 2050 net-zero goals are still not in the market, and these numbers don't reflect what's needed to enable climate adaptation and resilience either. Perhaps most importantly, of the solutions that are in the market, are they reaching those in most need, and are they being built and distributed equitably? Point being, the Zero to One phase matters. More early-stage entrepreneurship and co-creation is needed than we often think, and we can't solely focus on scale and deployment if we haven't even built much of what we need still. The unique mix of funding, technical inputs and infrastructure, talent, as well as longer timelines for testing and piloting make a lot of our highest impact climate solutions quite distinct from other technology verticals. On top of this, we face humungous equity and inclusion gaps throughout the tech and startup community writ large. Getting the Zero to One phase right gives us a chance to expedite the pathways into the market for climate technologies while also making sure these solutions are created and distributed equitably. We were extremely fortunate to be joined by leaders in this field - Halcyon, Autodesk Foundation, Hewlett Packard Enterprise, ClimateWorks Foundation, CATAL1.5°T LATAM, Stepchange, Salesforce, King Philanthropies, Enduring Planet, Fractal Climate and many others! Feeling very, very grateful to have such wonderful colleagues like Suma Reddy Ashdeep S. Cyntia Abarca Nigel Keen and Alhan Fakhr alongside amazing partners and leaders like Deepa Lounsbury Megan Holcomb Troy Daley John Meissner Felipe Gonzalez Rosas Cristian Dávila Rafael Lorenzo Piñón Andrew Don Mitch Gainer Saleem Chapman Fred T. Daniel J. Barker Emmanuelle Palikuca Shereen D'Souza Anay Shah Sara Bender, Ph.D. Adria Wilson, Ph.D. Shaina Horowitz Esther Nai Midori Takasaki Dimitry Gershenson Jennifer Wagner John Alexander, CEPA®, CSRIC® and many more (apologies for the Linkedin mention limitation)!

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🚨 Join the Food is Health Revolution 🚨 We have a bold vision: to eliminate the $1.9 trillion annual healthcare cost of poor nutrition. The pathway? A reimagined food system that prioritizes affordable, quality food over ultra-processed products—rooted in innovative policy, corporate action, and investment. Our Food is Health Substack is the definitive anchor point for this critical conversation, bringing together: ✅ Investors seeking transformative opportunities. ✅ Policymakers ready to champion better food systems. ✅ Industry leaders driving change toward affordability and health. We’re asking for your support to fuel this movement: 🌟 Subscribe for free, or $100/year to help us grow an editorial team laser-focused on educating the world. 🌟 Invite your network—because every voice counts in reshaping America’s food and health landscape. 🌟 Supply content—insights, research, and ideas that amplify the cause. Together, we’re building the foundation for a healthier America. 🌱💪 Join a network of people like you who care about reshaping our nation's health. Let’s build a future where food heals, taste rules, and sustainability thrives. Subscribe now and be part of the change. #FoodIsHealth #RegenerativeFarming #MAHA #HealthcareCosts #NutritionMatters https://lnkd.in/gC_EPBi3

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Some VC investors believe that brick and mortar - referring to a physical presence of some kind - should be avoided at all costs. Yet, the track record of clinic and hybrid care businesses in health care indicates otherwise. ==> One Medical (sold for $3.9 billion to Amazon), Oak Street (bought by CVS for $10.6 billion), Lifestance (IPO at $7.5 billion market cap), and PE-backed Premise Health (acquired by OMERS Private Equity for $1.1 billion) If a clinic is indicated as the optimal way to deliver care for that patient population, there are creative ways to build and operate them. Full article below with advice and strategies on how to build and operate hybrid clinics from my teammate Anarghya Vardhana from Maveron, Amir Dan Rubin from OneMedical Group, Steven Eidelman from Modern Animal and more!

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Good morning :) Recommended podcast if you’re interested in how great companies navigate adversity and have a crucible moment that help them either reinvent themselves, pivot or simply get the best out every experience. Podcast is legit by Sequoia Capital: https://lnkd.in/d-dnykrP Enjoy, learn, apply, measure and grow. ;)

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I’ve had the chance to go deep with a number of digital health alum, healthcare mentors and #corporate innovation partners over the past few days. A few themes to share:   1. Digital will change healthcare. Period. How is hard. But it will happen and the best are continuing to push ahead. 2. What keeps companies in the S&P 500 for 50 years or more? Partnerships and innovation. This is why large systems must practice the hard art of both partnership and partnership towards innovation. For startups, partnership reps may be more important than brand. 3. There is a difference between needs and behaviors that startups need to understand, especially in Healthcare where incentives, process, practices are complex. Finding who pays early is not only essential but existential. 4. Don’t optimize for valuation, optimize for value. Over the long-run, this is what will matter. In Healthcare, today value will have to tie to ROI. Pharma, providers, payors are under pressure. Your solution needs to be must-have and drive ROI.   MC Healthcare was launched over 5 years ago to accelerate industry/startup intelligence and collaboration and commercial partnerships for digital health startups and industry (payors, providers, pharma). Calling startups to apply. Want to be a partner to find and work with the best? DM me directly.

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Boston is home to some of the world’s most groundbreaking health institutions and research hubs, driving innovation in medicine and healthcare for decades. Each of these organizations plays a crucial role in advancing health tech and shaping the future of medical science: Harvard Medical School – Leading the way in health sciences, Harvard Medical School is training the next generation of medical innovators through cutting-edge research. Massachusetts General Hospital (MGH) – Known for pioneering research and impactful clinical trials across various health tech areas, MGH continues to set standards in medical excellence. Brigham and Women's Hospital Women’s Hospital – Focused on translational medicine, BWH deeply engages in clinical research that bridges lab discoveries to patient care. Broad Institute of MIT and Harvard – This powerhouse in genomics and bioinformatics is advancing personalized medicine by conducting large-scale research in genetics and disease. Dana-Farber Cancer Institute – A global leader in cancer research, Dana-Farber is at the forefront of developing innovative oncology treatments that save lives. Boston Children's Hospital – Known for groundbreaking advancements in pediatric care, Boston Children's Hospital is a beacon of hope for young patients and their families. These institutions form the backbone of Boston's vibrant health tech ecosystem, collectively making strides toward a healthier, more innovative future. 🌐✨ #BostonHealthTech #InnovationEcosystem #MedicalResearch #PersonalizedMedicine #HealthcareInnovation #Innolytics

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