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Dr. Navin Goyal_E40: Do-No-Harm Venture [2/1/2022]

Dr. Navin Goyal, Managing Partner with Loud Capital in Columbus

https://anchor.fm/posi2ive/episodes/Dr--Navin-Goyal_E40-Do-No-Harm-Venture-e1dpj3q

Note: References with links are listed at the end of the show notes.

INTRO:

SECTION1: Serve the Population

1:00 Shares how he decided in high school to become a doctor — to help people which seemed super-human. He shared the challenges of training and studying. And his start to becoming an Anesthesiologist. Talks about his father’s background as an Engineer, and how medicine was encouraged by his family. Navin shares how Entrepreneurship was in the unplanned phase of his life, and started as an Angel in 2012–2013, and how he transitioned from his private practice to Angel investing in Columbus.

6:00 He found inspiration from impact driven Founders, starting SmileMD. Talks about the strategy of his startup, and how bringing the office to community in dental surgery was an efficient choice for his clients. Finding lower fee customers. And points to how solving real world problems is the basis for Entrepreneurship — especially when taking all stakeholders into account. Talks about their Seed round in 2015, and bringing on a full time CTO in 2017.

SECTION2: Physician Underdog

9:00 We talk about the Do No Harm philosophy an MD doctor brings to the world of business. Points to the wild west of business, and how the team approach can be lacking in business. We discuss placebos, and how it relates to impact in business. We talk about his transition into the world of VC in 2015; seeing the common element of Founders looking for capital.

24:00 Talks about group of physician Angels he works with. And discusses his now book: Physician Underdog. Discusses burn out and suicide increase in medical profession. Talks about influence and policy being driven by non-experts, but wants to empower more physicians to be more collaborative and helpful in startup community. Points to higher-ed and systematic deficiencies in health care.

32:00 Talks about the power of venture, how signal from VC leads to traction. And highlights the bias of introduction in networks. Highlights how VCs need to be better by approaching people who need more attention to drive personal empowerment. Talks about the power of the observer, when underrepresented get attention from venture, and how positive impacts can resonate from this. Also shares their new podcast, and the full circle of how his firm looks at positive impact.

SECTION3: Screening for Impact

39:00 Talks about core venture funds, pride fund (LGTBQ+ focused), and commercial ventures around revenue financing. We chat about restrictions of traditional financing, and how they are filling in the gaps for customer demand — with contract fulfillment. Shares the statistics around the LGTBQ+ startup market, and saw an early opportunity to support here, when first getting started.

43:00 Talks about the experience and opportunity the past few years, and how their fund is leaning into educational platforms, and now starting to invest into Emerging Managers to help them co-run funds together. They hope to infuse experience with infusing opportunities.

SOURCES:

-Physician Underdog [Book]: https://www.physicianunderdog.com/

-SmileMD: https://www.smilemdsedation.com/

-CB Insights Founder/VC Performance: https://www.cbinsights.com/research/founders-best-venture-capitalist-investors/

-The Unicorn’s Shadow [Book]: https://www.amazon.com/Unicorns-Shadow-Combating-Dangerous-Investors/dp/1613630964

-Why Startups Fail: https://www.amazon.com/Why-Startups-Fail-Roadmap-Entrepreneurial/dp/0593137027

-Revenue based financing: https://en.wikipedia.org/wiki/Revenue-based_financing

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Song Credit: The Croft — By Joakim Karud

[ No Copyright on Music and Creative Commons — Attribution-ShareAlike 3.0 Unported — CC BY-SA 3.0 ]

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posi2ive

A Community focused on Venture Scale Positive Impacts. Produced by Zecca Lehn. On Twitter @posi2ive.