Santosh Sharan

So great to speak to Mohammed Islam on The Mo Show podcast last week! Watch the full episode here!

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Episode 338 of The VentureFizz Podcast features Tasneem Dohadwala, Founding Partner at Excelestar Ventures LLC. It’s a lot more common to find VC firms that are investing into deep tech or hard tech, but when Tasneem started Excelestar Ventures in 2010, it was far from the norm. Not only was it abnormal to invest in companies building highly advanced engineering products, but it was also a very challenging time in the tech industry in general. So, to start a new VC firm was very rare. Excelestar Ventures is a bit different than most VC firms as they operate an evergreen fund which gives them flexibility, especially during different economic cycles, in terms of the types of investments they can make versus having to raise a new fund every 2-3 years. The firm is also passionate about funding disruptive businesses led by under-represented founders. Across Excelestar’s entire portfolio, 61% of their companies are minority-led and 50% are female-led. In this episode of our podcast, we cover: * Fundraising advice for women or minority founders and why you should always be thinking about asking for introductions. * Tasneem’s background story and how she got her career starting in finance, plus her decision to go back to B-school at HBS. * All the details about Excelestar Ventures in terms of the companies they are targeting, including her interest in personalized medical devices, as well as how their due diligence process works. * Tasneem’s involvement with Golden Seeds, a firm focused on investing in women-led companies. * Advice for pitching your company and the importance of being able to properly articulate the value proposition of your company, having the right market size for that investor, and another factor that she calls the confirmatory mindset. * And so much more. #podcast #venturecapital #startups #medicaldevices

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Today, I’m excited to share a pivotal moment in Lissun’s journey. We’ve successfully raised $2.5 million in our Pre-Series A funding round, led by RPSG Capital Ventures , with support from our new partners, Multiply Ventures and Atrium Angels, and continued backing from IvyCap Ventures Advisors Private Limited, Rainmatter by Zerodha, and SucSEED Ventures. Especial thanks to Sambit Dash, Abhishek Goenka, Vikram Gupta, Aashish Gupta, Raveen Sastry Dilip Kumar, Nithin Kamath and Vikrant Varshney. You are not just investors behind these names—you are individuals who believe in the power of mental health and its transformative impact on society even more than we do. I’m also deeply grateful to everyone who has supported us since our inception on August 15, 2021. Your belief in our vision continues to drive us forward Rest, for me, this milestone is more than just numbers—it’s about our mission to make a meaningful impact in mental health care. When we started LISSUN, Tarun Gupta's and mine Mission was clear: Solve Mental Health at Scale. Solving for these Six Syndromes—Awareness, Acceptance, Anonymity, Access, Affordability, and Assurance—have guided us every step of the way. And our unique phygital model, combining physical and digital mental health support, has been crucial in reaching people where they are—whether they’re dealing with workplace stress, exam anxiety, or more complex issues like chronic illness. One area that’s close to my heart is our work with children through Sunshine by LISSUN. Our child development and care centers (CDCs) are built with care and compassion, designed to provide comprehensive support under one roof for children with neurodevelopmental and behavioral disorders such as Autism, ADHD, and learning challenges. But Sunshine is more than just a network of centers—it’s a lifeline for families, offering them the care they need, exactly when they need it most. This new round of funding is not just a financial boost; it empowers us to go further in our mission. We’re planning to expand our services & centers, grow our team, and dive deeper into technology—especially AI—to enhance how we deliver care. At LISSUN, we’ve always believed in the power of data-driven solutions, and with our physical centers and partnerships, we’re ready to create AI-driven products that will truly make a difference. Reflecting on where we’ve come from, I’m filled with gratitude. We’ve already partnered with over 300+ B2B Clients, opened 4 SUnshine Centers and impacted 75,000 lives across 20+ cities. But I know this is just the beginning. We’re ready to scale up, reach more people, and set new standards in mental health care.. #upwards #onwards #mentalhealth https://lnkd.in/gyk8HCns

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It was an honor to have worked with Preetish Nijhawan and an even greater honor to have known him. Preetish was the first one to truly believe in StackShare. We met in 2016 when I was fundraising. A small handful of investors wanted to be a part of the round but no one wanted to lead. Then Jocelyn Goldfein introduced me to Preetish and Neeraj Gupta and everything changed. Cervin ended up leading StackShare's seed round and investing $1M. It's hard to overstate how important that was for the company. Not only was it the largest investment we'd received, but at the time, being able to raise $1M+ as an unproven founder with no experience was extremely rare. Add to that, StackShare was focused on building a community so it wasn't the typical enterprise software company that Cervin invests in. In so many ways, Preetish made a huge bet on me. Preetish joined StackShare's board as part of the seed round, and over the years he coached me and helped me learn how to run a company. And more importantly, he did it with compassion. Because he had been a founder himself, it always felt like he understood exactly what I was going through and the true weight of the decisions that I faced. I've said this before, but a lot of investors say that they're founder friendly, while few actually are. Preetish was one of the few. He showed me some tough love but he was always fair and gave it to me straight, and I respected him tremendously for that. The level of dedication and compassion Preetish showed for founders was incredible. It didn't matter what time of day or what was going on in his own life, he always made my company a priority. Whether it was hopping on a quick call at 3am to give me advice or signing documents on the way back from a doctor's visit. There are countless stories I could tell from the 9+ years I knew Preetish that show how dedicated he was to supporting me, so I can't imagine how many other founders he's impacted throughout his career. Preetish, thank you for changing the lives of so many founders, including mine.

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Great article from PitchBook on why domain expertise amongst VCs matters. TL;DR -- in verticals like healthcare, having investors with high amount of domain expertise can result in up to 40% higher odds of achieving an IPO, 20% higher chance of being acquired and 30% higher chance of an overall successful exit. Importantly, the marginal value of having investors with domain expertise varies by sector and stage, and is not uniform, so your mileage may vary, and generalist investors still have a very important role to play in the venture ecosystem. https://lnkd.in/dXpi8gzm Curious to hear from founders: Do you have examples of seeing specialist investors be helpful in unique ways that you can share? Or alternatively, do you have an experience with a generalist investor who has been more helpful than the specialists?

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2nd of 5x investment (or acquisition) themes that should rip in Micro SaaS... Personalized Healthcare and Wellness // DEFINITION: Innovations in healthcare and wellness that offer personalized and preventative care. // GROWTH DRIVERS Rising healthcare costs, increasing focus on preventative care, and advancements in health technology. // FOCUS - mHealth and Wearables: Mobile health applications and wearable devices for health monitoring. - Nutraceuticals and Functional Foods: Supplements and foods with health benefits tailored to individual needs. - Telehealth: Remote healthcare services and telemedicine platforms. Anyone going hard at a similar theme?

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$1.7B: the valuation of Zuora, a profitable public SaaS company with $415M in ARR because, 4.25x multiple Also, $1.7B: a run-of-the-mill Series B valuation in Generative AI (revenue optional) because, vibes (I know, I know, low growth at Zuora, but still)

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A trend that's happening is that a growing number of VC backed startups are creating MSOs (aka the PE model) to roll up independent practices in order to manage their operations and billing. Here's a thought. If IPAs (independent practice associations) operate like DSOs (dental support organizations) for dental practices, why can't they coordinate funding partners (e.g., credit unions) in order to purchase equity shares in the practices within the IPA? Doing this could keep the practice still primarily owned by the physician/s while providing cash (liquidity) where they don't have to sell to these MSO models or PE. I can see even the IPA starting its own fund to support this for the practices that are part of the IPO/A. So let's say there are 20 independent practices part of the IPA. The IPA starts a fund or gets access to funds to purchase equity/secondaries from the practices within the IPA. Shifting the responsibilities of the IPA from not just managing services but where the IPA becomes an equity owner vs just a management group. I don't see why the only options for independent practices is to either sell their practices to private equity or sell to VC backed MSOs. It actually makes more sense for IPAs (which is a PROVEN structure) to manage this. IPAs should evolve to provide funding for independent practices. Going this route helps practices truly stay independent while also providing value to the IPA itself. Like the DSO model, I can see all physicians of all the independent practices sharing a percentage of ownership for all of the practices within the IPA. What are your thoughts? Would you whether sell this way where you maintain independence or sell to VC MSO/PE? ---- Hi, I'm Dr. Mario Amaro, Founder and CEO Ease, and I talk about all things starting, running, and growing a private practice with AI. Follow me, if you are planning to start one or are currently figuring out creative ways to grow one. #PrivatePractice #SelfEmployment #HealthcareOnLinkedin #HeyEase #IndependentTogether #Fintech #Infrastructure #AIinHealthcare #CareDelivery

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Should you sell your practice to a VC-Backed MSO Startup? tldr: - new VC-backed startups are forming MSOs to roll up independent practices - The pitch is physicians receive early liquidity from the roll up and are granted ESOP shares that can be used for retirement - Problem is the use of ESOPs with independent practices is not a new concept and has been used with large group practices since the 70's - ESOPs do not grant full ownership and in order for the shares to be valuable for retirement, the practice needs to run the same if not better post roll up - With VC-backed startups being primarily operated by non-physicians with zero clinical or medical practice experience, the likelihood of this happening is extremely low making the entire concept high risk However, there is a viable path for continued ownership + liquidity for independent practices. Check out the article to learn more. ⤵ https://lnkd.in/gmGvTYwP

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2017: Why investors gave Varun Dua $30 million even before he launched his startup?? The journey that is answering..... Acko acquired OneCare in All-Cash deal! One Care backed by Better Capital and QED Innovation Labs has omni-channel model for chronic conditions Interestingly, Acko earlier acquired Parentlane (Acquired by ACKO) in March 23 - A digital health platform for Mother-Child. Expanding its presence in the retail health insurance segment Going Back in 2017, Acko revolutionised segment adopting 'Digital Only' approach with laser sharp focus on 'Deep Questions, More Data Sets for every customer'. Filling up very important gaps. I continue to vouch on rooted things making bigger impact! It's been a buzzing week for startups with news on funding, acquisitions, and happiness around Angel Tax and LTCG. #Innovation #Acquisition #angeltax #ltcg #startups

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Investor insights - @Passant Abed from @Shorooq Partners- Empower remarkable founders who are creating new industries Investor Insights | Walking Around in Silicon Valley- buff.ly/4dJgB5l Edition 4:  Passant Abed from Shorooq Partners- Empower remarkable founders who are creating new industries Pre-seed to A:   $1-3M check sizes Geography- Focused on MENA. What they look for: resilience, adaptability with vision, connected to space they are in. Dealbreakers – Founders believe in valuation over value, and not reflective of success of startup, Advise – always work on super solid network, treat investors and other founders for meaningful business relationship. Exit- very important but depends on stage and driven by vision. Passant is a Senior Investment Professional with Shorooq Partners- an early-stage Venture Capital & Debt fund focused on the MENAP region. Shorooq Partners has invested in over 45 companies, generating over $1.5 billion of equity value.

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What are the 5 keys to a successful GTM? 🤔 1- Know your target customer extremely well. 2- Keep your value proposition short and clear. 3- Target a small region first before expanding. 4- Talk to as many potential customers before launching. 5- Pivot Pivot Pivot until you get PMF. Thanks for the chat today Yaroslav Shakula Artak Seyranyan yard[hub]. I hope founders got a few nuggets to expedite their GTM and Fundraise. For others founders with questions on GTM or Fundraise strategy, send me DM or follow me on X brent_fulfer.

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🎙️ New Episode Alert: IREVOLUTIONIZING WELLNESS: With Phat Le🌟 Join us on “Think Big with Dan & Qasim” for an insightful episode featuring Phat Le as we dive into the ever-evolving world of nutraceuticals. Phat shares his journey, from understanding supply chain intricacies to leveraging new growth channels like TikTok.

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💡Benchmarks in the investment industry serve as a standard for measuring the performance of securities, mutual funds, or investment managers. They provide a reference point for analyzing allocation, risk, and return of a portfolio, enabling investors to make informed decisions. Thanks Peter Walker for keeping us all informed!! Can’t wait for this!! Follow and get on the waitlist for this one! #benchmarks #fundraising #Capitalraise #founders #womenshealth #femhealth #medtech #wellness

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I am always amazed when someone discovers whitespace in B2B SaaS that is eligible for pre-seed funding. It's interesting to see that Chiratae Ventures led Pre-Seed round for Pepsales. Pepsales is trying to help B2B SaaS companies improve their sales by creating personalized product demos using AI and ML. The pain point they are trying to address is that most demos don't impress buyers because they tend to be generic and one-size-fits-all. Congrats Ajay Singh and Abhinandan Sahgal! Source: INC42, Entrackr, VCCircle #VentureCapital #B2BSaas

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Investor insights - @Passant Abed from @Shorooq Partners- Empower remarkable founders who are creating new industries Investor Insights | Walking Around in Silicon Valley- buff.ly/4dJgB5l Passant Abed from Shorooq Partners- Empower remarkable founders who are creating new industries Pre-seed to A:   $1-3M check sizes Geography- Focused on MENA. What they look for: resilience, adaptability with vision, connected to space they are in. Dealbreakers – Founders believe in valuation over value, and not reflective of success of startup, Advise – always work on super solid network, treat investors and other founders for meaningful business relationship. Exit- very important but depends on stage and driven by vision. Passant Abed is a Senior Investment Professional with Shorooq Partners- an early-stage Venture Capital & Debt fund focused on the MENAP region. Shorooq Partners has invested in over 45 companies, generating over $1.5 billion of equity value.

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𝐇𝐨𝐰 𝐭𝐨 𝐒𝐜𝐚𝐥𝐞 𝐚 𝐒𝐭𝐚𝐫𝐭𝐮𝐩 𝐭𝐨 $100𝐌 𝐀𝐑𝐑 🚀 How can startups maintain high growth rates while ensuring strong retention? What strategies can startups use to optimise for high gross margins? #Startups #Growth #ARR #Entrepreneurship #Scaling

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Health tech founders: Are you tired of the endless fundraising cycle? Here's why your pitch deck isn't cutting it anymore and what you need to do instead: 🔔Ditch the generic investor outreach 🔔Leverage the Capital Readiness Scorecard 🔔Streamline due diligence (save 118+ hours!) 🔔Master every funding stage from pre-seed to Series C In today’s #LinkedinAudio event, we dive deep into the challenges and strategies of capital fundraising in health tech. Here's what you'll learn: 💰Why many startups get caught in a perpetual fundraising cycle 💰How to target the right investors and stand out from the crowd 💰The power of the Capital Readiness Scorecard in streamlining due diligence 💰Key strategies for successful fundraising at every stage Don't miss out on these game-changing insights! Tell us: What is one of the biggest frustrations when fundraising for your innovative solution? Can't make it to the Audio event? Listen to the full episode on your favorite podcast app. It will be published on Sep 17th. See the specific link in the comments below. #HealthTech #Fundraising #StartupAdvice #CapitalReadiness

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