Enis Hulli

🔔 In today's HealthTech of the Week series, I'm presenting something special. Instead of showing you another exciting startup, I will share an insightful interview with Olivia BLANCHARD, Managing Director at Health Venture Lab (HVL), an international accelerator supported by GE HealthCare. 🔥🔥 🔍 Discover how HVL is empowering startups to redefine healthcare through innovation and technology. Highlights from our conversation include: 🔹HVL’s role in accelerating medical innovations without equity participation. 🔹Benefits for startups include access to a robust international network and strategic development opportunities. 💡 Dive into the full interview to see how HVL is shaping the future of healthcare! The article is available in two language versions. 👉 EN: https://lnkd.in/dvvThsBA 👉 PL: https://lnkd.in/dfGTfyuF Olivia BLANCHARD, Thank you very much for sharing your amazing experience with us! 💙 PS. If you are interested in the HealthTech of the Week series, you can find more interesting materials on my blog! #HealthTech #Innovation #HealthVentureLab #HealthTechOfTheWeek #MedTech #HVL

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Europe's tech market has some catching up to do. #eu #techmarket #technology #techcompanies #marketvalue #financing #growthcapital #scaleups #commercialisation

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Another recommendation! I've been working with Alexandra Aleynikova for ten years. Sasha was a CFO at Getintent. Now, she's helping startup founders with everything related to finance. At Hints, she helps me with everything I hate in startups: P&L, QuickBooks, taxes, payroll, contracts, insurance, 401(k), etc. She saves me so much time! I highly recommend Alexandra Aleynikova and Grossmargin!

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VALUE YOUR STARTUP IN SECONDS WITH Qokoon We are excited to launch this week a SaaS startup valuation feature that allows users to estimate the value of a startup in seconds with just 12 inputs. I am running a 30 min introductory online session on Friday May 31st at 14:00 UK. You can register with the link below. During our session you'll understand the context in which startups are valued and equity given to investors. We will discuss and show how Qokoon’s VC Method values a startup with just twevle inputs. In summary, the VC method uses an estimation of the future value of the company and, together with the return the investor expects to make, calculates both the value of the company and the equity participation the new investor should receive. The VC Method is one of several ways to calculate the valuation of a startup. We like this method as it provides very clear insights and context into how the valuation of the company was determined. We will show you how the valuation of a startup is affected by changes in key assumptions, like future value of the company or the return sought by the investor. We will also consolidate key valuation terms such as pre-money and post-money valuation, IRR, dilution and more. Whether you're a entrepreneur wanting to value your company or an investor looking for efficiencies in your valuation efforts, this event will be fun and informative. Register now with the link below and secure your spot! https://lnkd.in/eCAncJhi Thanks and I hope to see some of you on Friday

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👉 We are open for application for the 2024 Cohort of H7 Healthcare Accelerator, powered by H7 BioCapital. Early Bird Applications are open until 💥 July 30th 💥! 🌟This 12-week program is aimed at #Angel to #seriesA stage healthcare companies looking to take their idea beyond concept to investor ready. The course includes:   - How to negotiate on a term sheet - Tech transfer/licensing - Create the right board of directors - Clinical trial design - Manufacturing & contract development - FDA approval process and strategy - Pitching to VC and deck optimization - Intellectual property strategy - Healthcare reimbursement - How to develop revenue strategy 🦄 Apply for the Program: https://shorturl.at/TfJdB 🦄 Apply to Become Advisor: https://lnkd.in/eSbGpX28  📅 Early Bird Deadline: July 30th, 2024 🎯 About H7 Accelerator Program: https://lnkd.in/g3ycA8eE 💎 Meet our workshop speakers: Robert E. "Bob" Sweeney, Max Shapiro, Ernie Riddle, Reza Ghafoorian, MD, Esq., Joshua Goldberg, Shawn Flynn, Sale Kwon, 崔粲, Sheetal Nariani, Isabelle Finger, Lin S., Darwin Ling, Ruming Liu, Faye Karnavy Sahai, Xiaoban Xin, Ling Loerchner, MBA, ICD.D, Scott Lyama and others. #accelerator #venturecapital #fundraising #healthcare #lifesciences #biotech #drugdevelopment #artificialintelligence #medicaldevices #hospitals #clinicaltrials #oncology #research #startup #founders #precisionmedicine #commercialization #sales #marketing #seed #angel #workshop

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Deal Lite, Techcelerate & SkilledUp Life response to Roberto Bonanzinga's attempt to find out the most active HealthTech investor in Europe. https://deallite.uk could answer the first question for the UK. Deal Lite captures 475 VCs and CVCs who have actually invested into one or more HealthTech companies in the UK. But at present, it cannot rank the investors. 😥 Deal Lite News also lists 212 HealthTech funding rounds https://lnkd.in/dGXm33G These news stories are shared weekly through https://lnkd.in/efmz5xBP Two https://lnkd.in/eKeefU7 #HealthTech companies exited over the last few years - 2022 - https://lnkd.in/dKGPHjHq Andrew Threlfall to Civica - 2023 - https://lnkd.in/ebv2wS9a Thomas Andrew Porteus to Agilio Software Doc Abode led by Taz Aldawoud is another #HealthTech company of https://lnkd.in/eYd7qKvN which is growing rapidly. A number of HealthTech startups rely on our 44,500+ skilled volunteers at https://skilledup.life. Among them are: - South Africa: https://lnkd.in/e53eK5hi led by Mmasea PeTje Whilst not a HealthTech company, a UK Doctor runs https://lnkd.in/eKqTUDDi - sadly, she juggles too many things at present (which is one of the reasons she is on #SkilledUpLife) leading to lack of information on the company page. Just a round of #healthtech in my tiny world. 😁 Oh, among my failures was trying to build a healthtech startup once. I shut it down due to co-founder issues. https://lnkd.in/g8WXE3ui. (images in comments) These days I run my 3 ventures without any co-founders. In one respect, we are lucky due to amazing volunteer talent at www.skilledup.life - 44,500 and counting. I also got amazing HealthTech companies and founders who are not quite in my inner circle. Among them is the American who want to be a Sri Lankan Billa Bhandari 🤣 Can't wait for him to join the inner circle one day (I know he is already offended). Show me the 💰 🤑 🤣

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€25M, to build the one finance platform to rule them all. Proud to be partner of Pauline Glikman and Joseph A. from Day 0! When we first invested in Payflows, there were many other FinTech SaaS startups focusing on individual pain points felt by CFOs and their teams. Some of these companies try to improve accounts payable or procurement. Others tackle cash management or try to modernize the payment stack. Payflows stands apart by offering this and more as modules within an automated platform bigger than the sum of its parts. Each module can be purchased and deployed independently, but the offering becomes much more powerful when all the pieces of the puzzle are combined.   We partnered with Payflows team on their €5M Seed round, together with Ribbit Capital - all thanks to an intro from my friend Salomon Aiach, GP at Origins Fund. Their product quickly turned out to be such a customer hit that they never had time to announce the round. Fast forward one year. Customers include both public enterprise companies as well as growth-stage tech companies like Ornikar, Spendesk, and Swile and Podimo. Welcome Balderton Capital in today’s combined €25M funding round! In the comments, the story on Les Echos and an in-depth piece on why we invested. Can't wait to continue seeing the ultimate financial automation platform come together! (Photo by Samuel Sotto)

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🚀 Calling all institutional investors who are interested in Pre-seed to Seed stage startups! You might have heard about London’s Largest Demo Day we hosted in April, where we had 100 pre-selected Pre-Seed to Series A stage #startups  #pitching to hundreds of #investors . We managed to gather high-quality startups to pitch on the day with the help of our 40+ investor partners. 🙌 We’re doing it again on the 14th of October and are expanding our investor partner list. This will help us rate the applicants and raise event awareness. In return, each investor partner gets early access to the deal flow and a couple of complimentary tickets for the event! 🎟️ If you’d like to join other investors and support us, please fill in the form (link in the comments). The form also includes more details on the process, expectations, and timeline. 𝗪𝗵𝗼 𝗰𝗮𝗻 𝗷𝗼𝗶𝗻 𝗮𝘀 𝗮𝗻 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿 𝗽𝗮𝗿𝘁𝗻𝗲𝗿: • VCs • CVCs • Family Offices • Angel Syndicates 𝗪𝗵𝗮𝘁’𝘀 𝗻𝗲𝘄 𝗮𝘁 𝘁𝗵𝗲 𝗲𝘃𝗲𝗻𝘁 𝘁𝗵𝗶𝘀 𝘁𝗶𝗺𝗲? • 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗦𝗽𝗹𝗶𝘁: Driven mainly by applications and ratings, but we are aiming for full representation in hardtech, deeptech, and fintech. • 𝗣𝘀𝘆𝗰𝗵𝗼𝗺𝗲𝘁𝗿𝗶𝗰 𝗧𝗲𝘀𝘁: All applicants will take a psychometric test designed by ETA Technologies to assess their team’s potential for survival. The results will be available to investors post-event. • 𝗦𝗣𝗩 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁: We plan to create an SPV to invest in the top 2-3 companies, decided by the investor committee. • 𝗘𝘃𝗲𝗻𝗶𝗻𝗴 𝗡𝗲𝘁𝘄𝗼𝗿𝗸𝗶𝗻𝗴: We will host “The First Money In” pitching event for pre-selected founders who have undergone due diligence. Individual angels can commit up to £100k with a £1k ticket. We hope to have you on board with us. We will be announcing our investor partners next week. 𝗣𝗹𝗲𝗮𝘀𝗲 𝘀𝘂𝗯𝗺𝗶𝘁 𝘁𝗵𝗲 𝗳𝗼𝗿𝗺 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸 𝗶𝗳 𝘆𝗼𝘂 𝗮𝗿𝗲 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 (𝗹𝗶𝗻𝗸 𝗶𝗻 𝘁𝗵𝗲 𝗰𝗼𝗺𝗺𝗲𝗻𝘁𝘀). Looking forward to your applications! 🚀 Each application will be manually reviewed before it is approved.

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UK Health Techs are hurting. The depth of the problem was highlighted in a Sifted article earlier this year (https://lnkd.in/eGFACcGQ). One big issue that has contributed to this, an obsession with tech over customer experience. As Steve Jobs said "You have to start with the customer experience and work backwards to the technology." This has created some key problems: - Premature commercialisation of new tech with inadequate market research - Unbundling health services to the point they create a very one-dimensional view of health - Lack of adequate onwards support has created a range of superficial services. - Marketing budgets focused on the most expensive 'low hanging fruit' (i.e. customers at the very end of their buying cycle). This makes for a worse customer experience, but also means money has been left on the table. You can read more about my view in the article I shared some weeks ago. https://lnkd.in/e3ZQyz5x #health #healthtech #wellness #digitalhealth

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Emerging from stealth with a bang 💥, Xaira Therapeutics secured a cool $1bn back in March. A collaboration of minds with Foresite Labs & ARCH Ventures - talking about hitting the ground running! The captain at the helm? Marc Tessier-Lavigne, a name synonymous with success in our world. His vision? A future where AI doesn't just support but leads drug development. 🔬🧬 And while funding pours in, showing the unyielding faith in AI's potential in BioTech; the industry buzzes with talks about regulations. Yes, the ever-evolving landscape of AI in pharma demands clarity—a much-needed framework for innovation to thrive safely. Enter CDER's Clinical Trial Innovation hub. A beacon of hope, perhaps, for cutting through red tape, fostering progress, and ensuring that AI's role in pharma doesn't just promise but delivers.

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What are some valuable insights into the European startup ecosystem? I recently had the opportunity to read an insightful discussion between two established investors in the European venture space - Saul Klein of LocalGlobe and Raluca Ragab of Eurazeo. At the TechCrunch StrictlyVC event in London, they generously shared their perspectives on the opportunities and challenges facing founders and investors across the continent (for source or entire article see comment). While the fundamentals of starting and scaling a high-growth business remain similar everywhere, Saul and Raluca highlighted some key differences that impact the European landscape. One aspect they discussed was the relative lack of liquidity events compared to the U.S., which makes returns riskier for investors. With fewer large exits, it can be more difficult to attract later stage capital. 🔝 At the same time, both highlighted many promising qualities of Europe's startup hubs. Talent pools are deep, and multinational collaboration comes naturally to entrepreneurs in the region. Government programs also aim to foster innovation, and COVID has accelerated the digital transformation of traditional industries 🏭. However, Klein and Ragab's perspectives underscore the work that still needs to be done in Europe to catch up with the U.S. exit environment. Their balanced view got me thinking about how to strengthen Europe's network effects in the long term. As leaders seeking to build an inclusive world of shared prosperity, what innovative strategies could help connect the continent's many vibrant startup ecosystems? I'd love to hear your thoughts. #D11ZVentures #techcrunch #FutureOfTech #VCInsights

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I couldn’t be prouder to be a Venture Partner at Isomer Capital (aka the best European FoF - at least for me) as we just announced the launch of our pioneering £100m secondaries fund. This fund is dedicated to acquiring stakes from LPs in various VC funds, tapping into a massive and largely unexplored market. 🌟 Key Highlights: - Focused Investment: Primarily targeting stakes in VC funds, with selective investments in private companies. - Robust Funding: Already over 20% funded, thanks to strong support from Nordic family offices and a German foundation. - Market Potential: With a growing number of private tech companies and a VC liquidity crunch, Europe's VC secondaries market is poised for rapid growth. - Track Record: This isn’t Isomer’s first foray into the secondaries market. As a firm we’ve done several secondaries deals with portfolio companies and VC firms, including early-stage VC Seedcamp (in 2021) and mobility giant Bolt (in 2023). - Expert Team: Welcoming the amazing Omolade (Rachel) A., formerly of Coller Capital, as a principal to lead this initiative. 💡 Investment Strategy: - 65-75% of the fund will buy "LP interest" stakes in VC funds. - 15-25% will be directed towards stakes in companies. - Up to 15% reserved for flexible investment opportunities. 📈 Looking Ahead: We're targeting returns of 2-3x, with significant distributions expected in the next 4-7 years. As one of the few players in this space, we're not just participating in the market—we're driving it forward. Read all about it here: https://lnkd.in/dc7sbC3G #VentureCapital #SecondariesFund #EuropeanVC

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Developing an investment framework was one of the first things we did when starting Silence. Nothing is set in stone, but having this set of principles has proven to be really valuable throughout all the changes in VC markets over the last years.

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🌟 Seeking Recommendations: Who is the Best Venture Capital Investor in Europe for Health Tech? 🌟 Hello LinkedIn network, In the dynamic landscape of health technology, I'm eager to connect with top-tier venture capital investors driving innovation in Europe's health tech sector. Your insights and recommendations are crucial. Who, in your opinion, is the leading venture capital firm in health tech across Europe? Who are the key general partners (GPs) propelling their success? Share your valuable experiences and thoughts on the VCs and GPs shaping the future of health tech. Thank you for your suggestions! #startups #entrepreneurship #tech #europe #venturecapital

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Today, I'm thrilled to announce that Flo has raised over $200M in Series C funding led by General Atlantic, an 80b+ leading global growth equity firm. With our valuation now beyond 1 billion, Flo joins the ranks of femtech unicorns, a status achieved by very few companies in this space. This milestone not only validates our mission and approach but also underscores the growing recognition of the importance of female health solutions. After more than eight years of continuous expansion, Flo is now the most downloaded app in the Health & Fitness category, serving nearly 70 million monthly active users (MAUs) and close to 5 million paid subscribers. When founding Flo, we identified a significant gap in women's health services. Today, 1 in 4 US women use Flo, and we're spearheading a global movement to prioritize women's health across all regions.  We have already made Flo available for one billion women in need through our global pro-social program. As of July 2024, over 16 million women worldwide are using Flo Premium for free across 66 countries. This investment will enable us to further our mission of normalizing conversations about women's health, enhancing health literacy, and raising awareness of women's health issues worldwide, with a particular focus on underserved regions. I extend my sincere gratitude to our exceptional team, our loyal users, and General Atlantic for their belief in our mission. With more than 40 years of experience partnering with visionary founders and high-growth businesses to help them scale,  General Atlantic has significant experience in Consumer Subscription businesses (CLEAR, Duolingo, Chess.com, Quizlet, Squarespace), as well as healthcare. Their  deep expertise and commitment to fostering innovation make them an ideal partner for Flo. Given that the femtech industry is poised to be a $60 billion industry by 2027, we are well positioned to revolutionize women's health and make a lasting impact on global health outcomes worldwide. I am also grateful to our advisor, GP Bullhound and Eric Crowley for their help with fundraising. Flo's Board of Directors will be bolstered by the addition of two key General Atlantic executives: Jessie Cai, Principal and experienced operating board member with deep experience in consumer technology/subscription business models, and Tanzeen Syed, Managing Director and Head of Consumer Internet and Technology. Their appointments bring significant expertise in scaling companies at the intersection of consumer technology, healthcare, and subscription business models.   More from Techcrunch here: https://lnkd.in/erjCCWk7

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Our regional VC market has hit a pivotal moment. 🌊 The lack of returns/DPI reported threatens its growth. LPs from earlier funds are hesitant to reinvest, and new LPs are cautious.  Capital is crucial for startups, and reducing it now could cripple our maturing ecosystem. There are some teething issues with our region: -The VC model’s reliance on large outcomes doesn’t suit our fragmented market.  -Unlike singular markets like the US, building large companies quickly is challenging here.  -Plus, we lack a strong regional exchange to support major tech exits. Thus, our investment strategy must align with our region’s specific needs. At Tin Men Capital, Instead of following the power law, we adopt a PE-style approach within VC: 1. Enhance Success Rates: Invest in capital-efficient businesses with high unit economics and a direct path to profitability. Invert the power law model. 2. Mitigate Reliance on Massive Exits: • Exits between US$50 and US$250 million can deliver 4 to 15x returns. • Exits at are already happening (e.g. Shopmatic, Viki, Stamped etc.). • Higher exit valuations restrict options. Tin Men executes this strategy by: • Invest in highly capital-efficient B2B businesses. • Broaden our exit strategies to include strategic and financial buyers. In time, our infrastructure will support the growth of large companies.  Until then, let’s play to our strengths. Building regional businesses in SEA is tough due to fragmentation,  But this also creates a protective moat.  Those who understand the region will thrive. Strategics are eager to enter our market,  And speed to market is driving them to acquire rather than build. The stars are aligning, but we need to make a choice to write our own play book and navigate these choppy waters. Who’s with me?

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Voodoo didn’t buy BeReal for €500MM. Per reporting, the cash consideration in Voodoo’s acquisition of BeReal is €166MM, with the remainder of the €500MM “valuation” being paid out if performance targets are met in an earn-out. I don’t think that Voodoo’s acquisition of BeReal is motivated by cross promotion. Voodoo states that BeReal features 40MM “active users,” which is vague. I’d estimate BeReal has MAU in the 5-10MM range, with the 40MM number representing a longer timeline. This isn’t enough MAU to justify the price solely on the basis of cross promotion, especially given that BeReal’s MAU is likely stagnant. Further, Voodoo’s own social media app, Wizz, is growing faster than BeReal in the US: it sits at Top Downloaded rank #17 in the Social Networking category vs. 27 for BeReal. The CEO of Wizz, Voodoo’s social media app, will become the CEO of BeReal. My sense is that Voodoo may integrate the functionality of BeReal into Wizz at some point to accommodate BeReal’s core demographic and serve a larger TAM. If cross promotion does factor into the equation, it’s likely from games into the social media properties. Voodoo is a much more valuable company with a scaled social media property than an operator of a hybridcasual gaming portfolio, the titles in which are volatile from a growth perspective (see the chart below). BeReal was something of a gimmick, and it may work better as a feature than a standalone app. If Voodoo can use BeReal’s core mechanic to grow Wizz into a scaled social media property, with strong retention and long-term engagement, it can pair its existing advertising infrastructure with Wizz to service ads not just in its social media footprint but against an audience network across its published titles. But in the meantime, I’d expect traffic to move from Voodoo’s games to Wizz as it scales that property.

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Four years ago today, I launched First Check Ventures as a passion project to support great founders and keep busy during the pandemic. Today, we have more than 4,000 LPs, invested in 100+ companies across 5 continents and 25 countries, and delivered incredible returns for our investors. We take pride in discovering the next generation of unicorn founders and being the first check in for over 90% of our investments. Our founding teams are diverse (97%) and have at least one female co-founder (45%). These four years have been the best of my life. Witnessing the growth of our portfolio companies, founders evolving, and strengthening partnerships has been truly rewarding. I thank everyone for their role in this journey and hope to continue to build trust with those who put their trust in me. Although I've been quiet on social media this year, I've been working on exciting things that will be shared publicly soon. #VentureCapital #Startups #DiversityandInclusion #Entrepreneurship #Investing #FirstCheckVentures #angelinvesting #angelinvestors #earlystage #angellist #startupfunding #startups #venturecapital #latinamerica #emergingmarkets

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EIS is a godsend for investors and startups ! The benefits are huge: + Investors can write off 30% of their investment against their income tax bill. + Of that remaining 70% and if the business fails, investors can also benefit from a further 35% write-off (if in the top rate of tax). + So, if the company goes bust, that is up to 65% of your investment covered against your tax credits. + If investors hold their shares for three years, they have no capital gains tax on exit. + Investors can invest up to £1 million a year in EIS investment and up to £2 million in knowledge intensive EIS companies. There’s no question that it’s a challenging time to raise money right now, with EIS investment over 59% down on last year, but it will be even harder if you’re not EIS-able. With a new Labour Gov, Capital Gains Tax feels like it will get closer and closer with Income Tax over time - a big difference, so maybe that’ll have the (unintended) benefit of investors investing again as no CGT on exits. EIS will become even more important to the startup/tech ecosystem than it is now and we’re glad to see the UK Government protect it. The early-stage ecosystem would collapse if SEIS and EIS didn’t exist. For all the negative things that are said about the UK and doing business here, this is a real strength of ours. I’m always amazed at how many people still don’t know about it ! #eisfund #investment #ukstartupscene ------ If you liked this post, I also have a newsletter where I speak about topics like this in more depth. You can subscribe in the comments below. Thanks !

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