Bringing Israeli Health Tech to LA?
Check out this week’s Jewish Journal featuring my article on the new Adaptive Healthcare Fund and my upcoming trip to Israel to meet with health tech entrepreneurs, investors, and business advisors. The point of the trip is to share what we’re doing in raising this fund, called LaunchPad, for early stage health tech, and to look for potential partners for collaboration — venture capital groups and potential co-investors, health tech incubators and accelerators that can help “source”, and lawyers and business advisors who work with health tech companies.
I’m excited about this project because it brings together a bunch of things I’m passionate about — the future of healthcare, Israel, putting Los Angeles on the health tech “map” — and will hopefully culminate in bringing early stage digital health companies to Los Angeles as part of the Adaptive Health portfolio. While I love the opportunities we’ve had to advise (and invest in) amazing health tech entrepreneurs out of the Bay Area (and am grateful to the San Francisco and Silicon Valley VCs and entrepreneurs who have entrusted us with their regulatory challenges), it’s been bugging me for a while that L.A. is the “poor relation” of our northern neighbors when it comes to digital health, biomedical companies, and other health tech ventures.
While I also hope to support homegrown health tech ventures (hello, Silicon Beach friends!), I find it maddening that so much global talent — by one estimate that I trust, as many as 500 Israeli tech start-ups in the Bay Area — goes up North and bypasses L.A. What’s going on, Given the abundant local resources here, the biggest thing missing is investment capital that actually cares whether these projects in Los Angeles.
This trip is just a start on this initiative. I’m already working on Round 2. I look forward to sharing our progress, lessons learned, and how Adaptive Healthcare develops.