Sean Doolan
@seanwdoolan
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We are thrilled to share the close of our second fund, “V2”, at $55.75M!. In V2 we intend to continue partnering with exceptional pre-seed & seed healthcare founders as an additive lead or co-lead partner. Our check sizes will range from $1-2M across 25 companies over the next 3.
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h/t @absoluttig for writing our upcoming LP update. my thoughts exactly, new world order loading 🔃.
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Anything and everything is currently investable at seed. The mania is real.
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In SF next week to meet with aspiring healthcare founders and select LPs. Open to intros!.
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I want to believe there is a co-invest opportunity here @SebastianCaliri.
We have cleaner bathrooms than NY, too.
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Many companies, and their founders, develop more reputation for their desire to compete in court than in market. Too many examples of this. Beyond frustrating!.
One thing I didn’t really realize until spending more time with founders is how many frivolous lawsuits you get when you start a company that are a total mental tax to deal with (especially when some of them name you personally). - patent trolls claiming you’re infringing on a.
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We @virtue_vc agree that AI's impact on the healthcare sector will be enormous & represents tremendous investment opportunity (so blue chip LPs should definitely preemptively commit to our Funds III - V now). cc @EricFlaningam .
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I used to love seeing the peonies bloom every year in Ann Arbor. Really beautiful time of year to be on campus and for the “townies” to enjoy. These ‘vandals’ are truly awful. They don’t stand for anything good or just. They just want to terrorize your peace & safety.
Vandals cut the flowers off 250 peony plants in the arboretum at the University of Michigan “for Palestine.” It’s peak season. Their note tells people to replace their American flags with Palestinian ones.
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Pretty good day so far. We just wired our 1st investment out of Fund II *and* we just distributed 💸💸💸 back to our Fund I LPs! And, we are still within our Fund I investment period! Yay DPI!.
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Another good essay on AI valuation from @jennywxiao, this time re application layer. We @VirtueVC think a lot about displacement risk & in turn have built out a portfolio of cos tapping into nuanced healthcare data assets, unique user workflows, etc., for sticky, durable growth.
Releasing the 2nd essay of our AI Valuation series. We break down how to value AI apps in light of the rapid encroachment by foundation model companies launching features that disrupt entire categories of AI apps. H/T @whattheljw for co-authoring this. Read the full essay 👇
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Most emerging managers I’ve spoken to - and many established seed managers! - have not internalized how drastically the math has turned out of our favor. and de facto nor how they’ll respond. Typically the ‘exits will only get bigger’ response seems to be *the* strategy 🤔.
16k seed deals globally in 2024. About half in the US. Valuations up 32% since the peak… pretty bold to think a typical 20-30 shot US seed portfolio can pick off the best deals over a 2.5-3yr (20,000-25.000 deals) cycle and outperform fund-over-fund. LPs are in for a world of
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Ability to sell may be more valuable than ability to buy for most seed firms these days.
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There is a real momentum game that seed firms can play rn but man it feels flimsy.
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Just wired our final investment out of Fund 1 💸. It's been a turbulent period in venture since '21. We did our best to stay disciplined & used the full 4 year investment period in V1. Lots of learnings which we'll share publicly in the coming months. V2 is now activated 👊.
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👀.
Big news: SmarterDx has secured a strategic growth investment from New Mountain Capital. We’re expanding our clinical AI platform to bring even more value to hospitals. The next chapter starts now, and there’s so much more to come! 🚀
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I’m a satisfied @function user but easily got 10x the value once I uploaded my full panel results into deep research and added personal/lifestyle context for a tailored assessment.
Uploaded a comprehensive blood test to ChatGPT for interpretation (literally just the PDF), and got a better answer than I got from the doctor. Just imagine having that throughout your life, ingesting all your data points including fitness trackers. Countless lives saved.
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Compounded GLP revenue is healthcare’s version of vibe revenue. Empty calories.
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If strictly TV only then new media is about to grow even faster and become even more influential. Political implications will be fascinating to see play out given current party divides on so many affected areas of overlap.
BREAKING: Robert F. Kennedy Jr has announced plans to ban pharmaceutical advertisements on television.
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