Murielle Thinard McLane, Intuitive Ventures | Interview at LSI Europe ‘23

Transcription

Murielle Thinard McLane  0:00  
So Intuitive Ventures we've our young fun we were created about three years ago. And we invest in areas that allow us to expand on minimal invasive care. And what that means concretely is we invest in three big areas. So the first one is increasing access to care and coordination. The second one is around precision diagnostic and intervention. And the third one is around big data and how that can be applied to the two former. As we look at the market, and as we look at investment, we look at unmet needs, what are the clinical unmet needs that this technology or this solution helps really solve? And how big is that market. The second piece, then is how defensible is the position of the company. And the third one is the team really, really important. Because at the end of the day, you're betting on them to be successful. And so deal breakers will be if we don't believe that that team can actually successfully take it to the next stage, and not willing to work with us and take work with us to get there. So that would be one of the main deal breaker, obviously, IP, is it transformational enough are obvious ones that we also would take a look at, we are investing from seed all the way to Series C, and have mixed in our portfolio between seed A, B, C, and D, actually, our sweet spot in terms of check size is about infrastructure size, I should say, is two to 3 million, and we reserve capital to be able to follow on our investment over the lifecycle of a company, we look to deploy about $10 million. So that means $100 million fund that we're looking at 10 to 12 investment. When we invest in a company, we're not passive, we love to be able to contribute. And that's started by being at a minimum an observer on the board in, we are there to accompany our CEO, that's one of the value of a strategic is being helpful to them, as they face many, many problems. So where are their resources? From founding team students per standpoint, it's really important that we have visionaries that really understand their market. And when I say that it's not only technical, but from a good to market and commercial standpoint. So what problems are they solving? How are they solving it? Is someone willing to pay for it? And how does it align the stakeholders through the patient workflow, and making sure that the incentives are aligned, but it needs to be also someone that's collaborative in the way that they work and willing to take feedback. Those are, are really important piece and grit. I mean, an entrepreneur needs to have great companies go through highs and lows all the time and being able to lead through that successfully take a certain kind. My focus when I came in was really to connect with European funds, and really understand where their focus where and where we can invest together. So what I love about all the sides, meeting fellow investors and sharing notes on what we think is exciting, as well as meeting some of the entrepreneurs for the future, and it's really that combination that makes it unique