It somewhat comes as a surprise when Venture Capitalists don’t push startups to raise as much money as they can to take the world by storm.
In Nisa Leung’s case, it’s all the more unexpected that she invests in healthcare, a vertical known for its unquenchable thirst for large swathes of money early on.
Ranked #33 in the 2020 Forbes Midas List, the prestigious ranking of the best VCs in the world, Leung knows what she’s talking about.
In a recent interview, Leung was asked about the hardest decision she had to make in her career. She replied that it was to convince her Qiming Venture Partners colleagues to invest in a two-man team that didn’t even have a protocol in place. You’ll see in the video (see the link below) that she hesitates when she says “two-man”.
That’s because one of the Founders of that company, Zai Lab, is actually a woman. Samantha Du, aka “Big Sister” (she’s known for her mentoring generosity) had just left a fat paycheck at Sequoia Capital China to go back to what she did best: growing biotech companies.
Leung found in Du what she is looking for in entrepreneurs: a long-term vision not a desire to “make a quick buck”, as she says.
The story turned out well for both women: Zai Lab went public three years later at a valuation over $1 billion in 2017, and is worth ten times that now.
Focusing on the long-term vision vs. the short-term burst of cash pays off, it seems.
🗣 Do you agree with this quote? Should Founders raise as much as they can early?
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🔗 The interview with Nisa Leung is here (start at 2’53)
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