The Full Ratchet: Venture Capital Demystified

Jenny Rooke of Genoa Ventures joins Nick to discuss Seed Investing at the Intersection of Biology & Technology. In this episode, we cover:

  • Her background in genetics, physics, computer science... and how that lead to venture.
  • How was it to work with Melinda and Bill Gates?
  • You also successfully built the largest life-sciences syndicate on Angellist that is also one of the highest performing syndicates of any sector... I just took a peek at the rankings this morning and both New Stack and Genoa are in the top 5. Of course those rankings are done based on follow-on rate... so, it's nice to see we are in good company, up there w/ you Jenny... but talk a bit about why you started with a syndicate and how you've been able to drive such high performance.
  • You launched the Genoa fund last year... Syndicate and fund now?
  • "Genoa ventures invests in early-stage companies innovating at the intersection of biology and technology"... Jenny, what does that mean to you and what types of companies are you looking for?
  • Adverse effects from Theranos?
  • How and where do you source dealflow?
  • Talk a bit about your evaluation process and some of the unique things that you do when vetting prospective portfolio companies?
  • What's your take on VCs that pick a focus area and stay distinctly in their lane vs. those VCs that may have a focus but tend to dabble in variety of other areas?
  • A position I've heard from many tech VCs is... "There are additional layers of risk in life sciences... the science itself, clinical trials, regulatory approvals, etc. that don't apply w/ traditional tech startups... making it a very difficult category to successfully invest in"... Jenny, agree or disagree?
  • What's the biggest hindrance to either more or faster advancements in the life sciences space?
  • With regard to life sciences... What's required, in terms of progress, to raise a seed round... what about a series A?
  • How do you help your founders navigate the fundraising process where many VCs don't understand the science?
  • Have you invested in startups where the chief scientist is CEO? If so, how to you assess for and/or help coach the commercial skills and leadership skills required to build and scale a venture-backed startup?
  • How do you think the usage of automation and data will play a role in healthcare, therapeutics or other sectors?
  • If early performance is an indication of long-term results, Genoa is well positioned as an emerging brand in venture... but I'm curious to hear what winning looks like for you? How are you keeping score on yourself and portfolio you're building?
  • Talk about some exciting new innovations or trends that you’re seeing. Where do you think they will have a big impact and when?

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