The document discusses the journey of an IVF specialist who became an angel investor. Some key points: 1) The doctor discusses reinventing himself by learning to become an angel investor through joining an angel network and investing through his family office. 2) As an angel investor, he looks for founders with integrity, curiosity, and humility and enjoys contributing to young entrepreneurs and staying optimistic about the future. 3) The document outlines why doctors can make good angel investors due to their empathy, domain expertise in healthcare, and entrepreneurial nature as private practice owners, but also reasons they may find it difficult to become entrepreneurs themselves.

1. From IVF specialist to Angel
Investor !

3. The startup space is hot !

4. Entrepreneurship has
become cool !
• Doctors can play 3 roles
• 1. As angel investors
• 2. As entrepreneurs
• 3. As customers

7. My journey
• On the Board of IKSHealth ( a Rakesh
Jhunjhunwalla company ) 10 years ago
• My daughter worked in impact investing
and did her MBA from Stanford
• Joined Mumbai Angels – an angel
network
• Now do it through my Family office,
Solidarity

9. Reinventing myself – learning
to become an angel investor
• Easier today, thanks to the internet !
• Share my experiences on LinkedIn. Have
90000 followers today
• Learn a lot daily
• Get to broaden my horizons – the world
is a fascinating place !

11. www.malpaniventures.com

13. Our approach
• To be founder-friendly. Respect
entrepreneurs
• Frugal Innovation
• Say No quickly
• Have a well defined Investment
thesis
• Try to be open and transparent

15. Whom do I fund ?
• Need to fall in love with the
team
• LOI vs ROI
• Integrity, Curiosity, Humility
• Willing to teach – and to learn
• Paying customers

16. Our process
• Back the entrepreneur
• Soft corner for failed entrepreneurs
• Women entrepreneurs
• Social impact investing ( edutech
and healthcare)
• Domain agnostic

17. After signing the cheque
• This is when the hard work starts !
• Need to be actively engaged
• Monthly MIS
• Governance and accounting
• Introductions to other investors and
founders
• Help only when asked !

19. Angel investing will not make
you rich !
• Illiquid asset class. Need lots of patience
• 80% of startups fail
• Only invest money which you can afford
to lose without losing any sleep over
• Have realistic expectations !
• LOI > ROI

20. Principles of angel
investing
• Portfolio approach
• Join a network
• Read about angel investing
• Not a “ get rich quick” scheme –
do your homework !

22. Why I enjoy being an angel
investor
• Makes you optimistic
• Hope for the future by connecting with
bright young ambitious entrepreneurs
• Can contribute to the next generation
• Networking opportunities
• Reputation
• Helps you remain young because you
learn all the time

23. Why doctors make good angel
investors
• Empathy ( as a clinical skill)
• Domain expertise in healthcare
• Brand ambassador and evangelist
• Lots of good will in the community
• Doctors in private practice are
entrepreneurs too
• Become a better doctor too because
your business sense improves

27. Why doctors find it hard to
become entrepreneurs
• Not good at being team players – want
to be captain of the ship
• Not taught to tinker – just learn to cram
facts
• Few role models to emulate
• Find it safer to be conventional and to
start a clinic
• Lost opportunities !

28. Ideas, Implementation and
Funding
• Ideas are a dime a dozen. Don’t fall in
love with your ideas – most are bad !
• Generate lots of ideas ! This improves
your chances of stumbling on the right
one
• Don’t worry anyone will steal your
ideas. Share them and ask for criticism,
so you can polish them !
• Passion is necessary but not sufficient

29. The doctor as entrepreneur
• Be willing to take calculated risks
• Be prepared for failure
• Learn to be resilient
• Ask your patients for help !
• Can be a great journey - will
teach you a lot about yourself –
and about the world !

30. Key ingredient for success – Learn!
• To sell. Learn to tell stories
• To lead a team
• To get your hands dirty
• To be patient and persistent
• Work in a startup – the best way to
learn a lot very quickly !
• Play to your strengths

31. Bootstrapping
• Proves you can implement !
• Shows faith in yourself ! If you don’t
invest in yourself, why do you expect
investors to ?
• Guerilla marketing
• Your customers are your best source of
funding !
• If you can get paying customers, the
investors will follow !

32. Books for Entrepreneurs
• Financial Intelligence for Entrepreneurs by
Berman
• Hot Seat by Dan Shapiro
• Disciplined Entrepreneurship: 24 Steps to a
Successful Startup by Bill Aulet
• Bootstrapping your Business by Greg
Gianforte

33. Teaching medical students to
be more innovative

35. The doctor as a customer of a
healthcare startup
• Give young entrepreneurs a chance
• You can learn a lot from them !
• Be willing to be a beta tester – be
forgiving
• Can help to guide them !
• Can invest in the ones you admire