Touching Surgery

In many ways, the work of a critic is easy. We risk very little, yet enjoy a position over those who offer up their work and their selves to our judgment. […]
But the bitter truth we critics must face, is that in the grand scheme of things, the average piece of junk is probably more meaningful than our criticism designating it so.
But there are times when a critic truly risks something, and that is in the discovery and defense of the *new*. The world is often unkind to new talent, new creations. The new needs friends.
Anton Ego, Ratatouille — by Brad Bird

Substitute “critic” for “VC” here and it rings pretty true. VCs tend to over-estimate our value and can enjoy crazy rewards for just being in the right place at the right time.

But every now and again in our careers, we take a chance on a founding team that might seem a bit leftfield but has something magical.

And if that founding team ends up succeeding, it’s worth reflecting on what we did right — so we can hunt for more like that.

Digital Surgery (originally Touch Surgery) has just been acquired by Medtronic for [a 9-figure sum].

I was lucky enough to source and champion the original investment at Balderton Capital.

***sorry, on reflection I’ve taken down the section here with various notes and emails surrounding around the original investment — over-sharing***

Let’s just say Touch Surgery was a rollercoaster ride and I’ll leave the founders to tell those stories.

One of the first “Doctorpreneur” events at Touch Surgery HQ — September 2013 — Jean & Andre standing

A few lessons I take from reflecting on the original investment:

1. If in doubt, take the meeting — particularly if the intro is from a great source (in this case a former founder)
2. First-time-founders with unusual domain knowledge and a big mission can build outlier companies
3. If at first you don’t succeed, stay close, watch the metrics that matter, do more referencing, try again
4. If you care about a deal enough to give up half your holiday working on it, it’s probably a good sign (and holidays just might be a great time to get partner votes…) ;-)

P.S. Andre, on reading the original version of this, kindly noted a final twist — which is that, in those first meeting notes you’ll see Covidien as a pilot customer — and that, given that Covidien was acquired by Medtronic in 2014, Touch Surgery was ultimately acquired by that first pilot customer.
Touching.
Well done Jean & Andre and team and thank you Balderton Capital.