Sourcing Deals During COVID & Next Event: Healthcare
Missed our Counter Club webinar last week? Don't fret, below is a link to download the notes and watch the recording. Our next event covering the healthcare sector will take place September 10th.
Click the image below to download the recording of last week’s webinar where we discussed the sourcing tactics and changed investment environment for three of the most active corporate VC funds during the pandemic thus far: Bloomberg Beta, Salesforce Ventures and In-Q-Tel.
Or if you would prefer to review the summary notes, click the link below to download.
Thanks to our three presenters & friends at Pitchbook for joining us. If you would like to connect with James Cham, David Kellenberger or Eileen Tanghal please reach out.
Key highlights:
Deal Activity & Sourcing:
We might actually be doing better deals without the F2F interaction as it has forced us to do greater diligence, more reference checks and dive in. Sourcing has always been a bit of mystery and magic. At a high level the normal way of sourcing deals hasn’t changed, we’re just unable to take founders out for dinner, meet at events and go for walks around SoMa. But we’re still finding new founders and continuing to talk to them. James Cham, Partner, Bloomberg Beta.
Velocity of Deals & Diligence:
Our pace is not too far off 2019 pace. March and April was similar to most other funds, we slowed down and focused on existing portfolio with extensions and follow-ons. Since then we’ve expanded and the pace has accelerated. I’ve spent more time on the phone and with the data than I normally would. It has taken more work than normal to get across the line, but given the remote work enivornment we have been more productive. David Kellenberger, Principal, Salesforce Ventures.
In-Q-Tel’s Importance During COVID
Government becomes a favorable source of capital during tough times. We’ve helped a lot of our portfolio companies navigate our customer base: CIA, NSA, Border Control, FBI and more. Government continues to spend throughout the pandemic, our jobs don’t stop. We’ve closed 13 deals since mid-March, on track for our normal pace of 14-15 deals per quarter. Eileen Tanghal, Partner, In-Q-Tel.
Next Event: Trends in Healthcare with Corporate VCs
At our next Counter Club webinar we’ll cover the healthcare sector, discussing emerging trends within digital health and pharmaceuticals. We’re pleased to host three investors from companies leading the way on both our recovery from COVID-19 through vaccine development and with healthcare investments:
Lee Cooper, VP Venture Investments, Leaps by Bayer
Gaurav Satam, Business Development, Mayo Clinic Ventures
Elizabeth Campbell, Digital Business Development, Johnson & Johnson Innovation
Date: Thursday September 10th
Time: 3:30PM PT
A password protected Zoom webinar link will be shared 24 hrs in advance of the call. Register below to add the event to your calendar.
Counter Club New Members
Tiffany Huang, Senior Associate, Sony Innovation Fund
Tiffany is based in the Bay Area where she works as a Senior Associate at Sony Innovation Fund, investing in areas adjacent to Sony’s core business (many different sectors). At the moment she is spending time in sectors positively effected by COVID such as telehealth, edtech, virtual events and more. Like us all, she’s spending lots of time on virtual meetups with friends and hiking in her spare time.
Thanks for reading.
Continue to safe out there, we hope to see you IRL soon.
Counterpart Ventures