Navigating Capital As A Woman: Janet Qi Of PurMinds Neuropharma On Top Strategies for Women Founders, CEOs and Leaders Seeking Institutional Investments
An Interview with Vanessa Ogle
Build a Strong Narrative: Clearly articulate your mission and vision. For instance, my narrative around personal experiences with neurodegenerative diseases resonated with investors, showing the genuine drive behind PurMinds. Also, it is important to craft your messages to show an intelligent strategic positioning, unique differentiation, and a focused business strategy.
Despite making remarkable strides in the business world, women continue to face unique challenges when seeking institutional investment. In this series we would like to discuss the process of securing capital from institutional investors, and provide actionable strategies to help women founders, CEOs, and leaders navigate this critical aspect of business growth successfully. I had the pleasure of interviewing Janet Qi, CPA. MBA, Co-Founder & Chief Executive Officer at PurMinds NeuroPharma.
Janet Qi is a serial entrepreneur with 15+ years of corporate, commercial & investment banking experience and 8+ years of strategic management background, Janet’s vision for PurMinds, stemming from her experience in business development, risk assessment and mitigation, commercialization of technological innovation, as well as expertise in branding, marketing, accounting, finance and business analysis, are verticals for the success of the corporation.
Thank you so much for doing this with us! Before we dig in, our readers would like to get to know you a bit more. Can you tell us a bit about your “backstory”? What led you to this particular career path?
My journey to founding PurMinds began in early 2018 when a very dear friend of mine, the world-renowned conductor and founder of the Toronto Concert Orchestra, Maestro Kerry Stratton, was diagnosed with ALS. Experiencing the devastation of neurodegenerative diseases firsthand, and subsequently dealing with my uncle’s stroke, deeply motivated me. These personal tragedies drove my passion for revolutionizing neurological care and pursuing breakthrough solutions for these disorders.
Can you share the most interesting story that happened to you since you began your career?
One of the most interesting experiences was assuming the position of board chair for the Toronto Concert Orchestra after Maestro Stratton’s death. At the time the COVID pandemic just started, the music industry was going into a complete halt, and we lost our founder and leader to ALS. The first thing I did after being elected chair was to hire a very capable, young and dynamic management team featuring two female leaders, Artistic Director Sharon Lee and Executive Director Kaija Corlazzoli. TCO swiftly pivoted from in person concerts to broadcasting through YouTube. We were the only orchestra in Toronto that ran a complete summer season in 2020, including a full 29-player orchestral concert in August 2020 in a private garden playing old classics such as Beethoven as well as compositions from our composer in residence, Samuel Bisson, of course with each musician wearing a mask and socially distanced. Balancing the responsibilities of leading a charitable organization while driving a biotech startup forward has been both challenging and rewarding, showcasing the profound impact of integrating art and science for a greater cause.
Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
In the early days of PurMinds, I mistakenly scheduled a crucial investor meeting on the same day as a major public speaking event. I had to rush from one location to another, ultimately arriving late and flustered. This taught me the invaluable lesson of meticulous scheduling and the importance of balancing commitments to maintain professionalism.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?
I am particularly grateful to Dr. Alan Kozikowski, our Chief Scientific Officer and a renowned medicinal chemist and drug developer. With a 40+ year professorship and over 130+ patents under his belt, Alan acted not only as my CSO but also as my mentor. His mentorship and encouragement significantly shaped my approach to drug development. His advice during a critical phase of PurMinds’ development, when we faced substantial scientific and financial hurdles, provided the clarity and motivation needed to persevere and innovate.
Is there a particular book that made a significant impact on you? Can you share a story or explain why it resonated with you so much?
“The Art of Happiness” by the Dalai Lama profoundly impacted me. Its teachings on mindfulness and compassion resonated deeply, influencing both my personal and professional life. The book’s principles helped me cultivate a corporate culture of truth, respect, and empowerment at PurMinds, fostering a positive and collaborative environment.
How have you used your success to make the world a better place?
Through PurMinds, we are pioneering de-risked approaches to drug development for neurodegenerative diseases, aiming to improve patients’ lives and reduce the burden on their families. Additionally, as board chair for the Toronto Concert Orchestra, I am committed to promoting arts and culture, enriching our community’s quality of life.
What do you think needs to change in the investment landscape to support more women entrepreneurs?
The investment landscape needs more inclusive policies and diverse representation within investment firms. Creating specific funds dedicated to women-led startups and fostering mentorship programs can provide the necessary support and resources for women entrepreneurs to thrive.
Can you share a defining moment in your journey to secure institutional investment? What was a key lesson you learned from that experience that other women can apply in their funding efforts?
I have got a lot of rejections in this journey of securing funding. Persistence and resilience is key. Each rejection was an opportunity to refine our pitch and strategy. I have learned that the key to finding the right investor (not any investor) is to create the business strategy that suits best our vision and our goals, and then we can find the right investor who buys into this vision and goal. A defining moment is finding this one or a group of right investors who are excited about our achievements and our vision.
In your experience, what key factors do institutional investors look for in women-led startups that may differ from their general investment criteria?
Institutional investors often seek women-led startups with a strong mission-driven approach, emphasizing social impact alongside financial returns. They value resilience, innovation, and leadership qualities that can navigate challenges uniquely faced by women entrepreneurs. Also, female leaders are more likely to let go of their egos and surround themselves with the right people, not only the right experience and capabilities, but also the right chemistry and fit. Having the right people and cohesive team is the most important factor an investor is looking for.
How do you build and leverage networks to gain access to institutional investors interested in supporting women-led businesses?
Building and leveraging networks involve active participation in industry conferences, joining professional organizations, and seeking mentorship from successful women leaders. These connections provide valuable introductions and credibility when approaching institutional investors. I have recently participated in the CELS program (Canadian Entrepreneurs in Life Science) where I met many industry leaders and mentors, male and female, that have brought connections and mentorship to PurMinds. Programs like this, or any other incubator/accelerator programs, is the best forum to seek support and gain meaningful connections.
How have you navigated the negotiation process with institutional investors to ensure fair valuation and terms for your company?
Navigating negotiations requires thorough preparation, understanding your company’s value, and being clear about your terms. Engaging experienced advisors and legal counsel can ensure fair valuation and protect your interests. Transparency and confidence in your business plan are crucial during these discussions.
Can you please share your “Top 5 Strategies for Women Founders, CEOs, and Leaders Seeking Institutional Investments”?
Build a Strong Narrative: Clearly articulate your mission and vision. For instance, my narrative around personal experiences with neurodegenerative diseases resonated with investors, showing the genuine drive behind PurMinds. Also, it is important to craft your messages to show an intelligent strategic positioning, unique differentiation, and a focused business strategy.
Demonstrate Resilience: Show how you’ve overcome challenges. I shared how we refocused our strategy during financial hurdles, proving our adaptability and determination.
Leverage Mentorship: Seek guidance from experienced leaders. Mentorship from programs like CELS provided critical insights that helped refine our approach and strategy.
Engage in Continuous Learning: Stay updated with industry trends and investor expectations. Regularly attending conferences and workshops helped me understand the evolving investment landscape.
Network Strategically: Build meaningful connections within the industry. By actively participating in biotech and entrepreneurial networks, I established valuable relationships that facilitated investment opportunities.
You are a person of great influence. If you could inspire a movement that would bring the most amount of good for the greatest number of people, what would that be? You never know what your idea can trigger.
Female leaders tend to show the motherly side of our nature, which is actually compassion towards the people within and external to the organization. I would inspire a movement promoting mindfulness and compassionate leadership in business. Integrating mindfulness into corporate culture can foster empathy, reduce stress, and enhance overall well-being, leading to more humane and effective leadership.
We are very blessed that some very prominent names in Business, VC funding, Sports, and Entertainment read this column. Is there a person in the world, or in the US with whom you would love to have a private breakfast or lunch with, and why? He or she might just see this if we tag them.
I would love to have a private lunch with Melinda Gates. Her work in philanthropy and her focus on empowering women globally is incredibly inspiring. I would love to discuss strategies for advancing women’s roles in science and technology.
How can our readers further follow your work online?
Readers can follow my work through PurMinds’ LinkedIn page and our official website, where we regularly update on our latest research, initiatives, and community engagements.
Thank you for these fantastic insights. We greatly appreciate the time you spent on this.
Thank you for the opportunity to share my journey and insights. It has been a pleasure.
About The Interviewer: Vanessa Ogle is a mom, entrepreneur, inventor, writer, and singer/songwriter. Vanessa’s talent in building world-class leadership teams focused on diversity, a culture of service, and innovation through inclusion allowed her to be one of the most acclaimed Latina CEO’s in the last 30 years. She collaborated with the world’s leading technology and content companies such as Netflix, Amazon, HBO, and Broadcom to bring innovative solutions to travelers and hotels around the world. Vanessa is the lead inventor on 120+ U.S. Patents. Accolades include: FAST 100, Entrepreneur 360 Best Companies, Inc. 500 and then another six times on the Inc. 5000. Vanessa was personally honored with Inc. 100 Female Founder’s Award, Ernst and Young’s Entrepreneur of the Year Award, and Enterprising Women of the Year among others. Vanessa now spends her time sharing stories to inspire and give hope through articles, speaking engagements and music. In her spare time she writes and plays music in the Amazon best selling new band HigherHill, teaches surfing clinics, trains dogs, and cheers on her children.
Please connect with Vanessa here on linkedin and subscribe to her newsletter Unplugged as well as follow her on Substack, Instagram, Facebook, and X and of course on her website VanessaOgle.
