Thesis Track Record The Fund Team How It Works

MEDICAL ANGELS VENTURE FUND I

The money follows
the medicine.

A $40M clinician-led medtech venture fund.

Investing in healthcare the way it actually works. Carefully, collaboratively, and with a duty of care.

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Read the thesis

1,000+

clinician investors

30+

portfolio companies

0

portfolio mortality

NYSE

listed exit · Teladoc

Traditional VC plays the 1-in-10 game. One winner pays for nine failures. "Move fast and break things." Portfolio mortality IS the business model.

In healthcare, failure isn't fundable. Because failure harms patients.

Healthcare is not B2B SaaS.

You cannot move fast and break things when breaking things hurts people.

INVESTMENT THESIS

We invest where others see risk but cannot evaluate it.

Clinicians don't just write cheques. We seed the right companies earlier, pick the right ones, and help them grow faster than generalists can.

🌱

Seed them first

We plant the first cheque. Clinicians spot problems at the coalface years before they become obvious venture opportunities, and we back the founders solving them while generalists are still catching up.

🎯

Pick them better

Our clinical insight evaluates what generalists cannot. Workflow validation, safety and regulatory pathways, reimbursement feasibility, adoption barriers. The things that kill health startups.

📈

Help them grow

We lead rounds and unlock follow-on capital. Portfolio companies scale with clinicians driving adoption, not hype, and can draw on the Medical Angels network for clinical advisory, trial participants, and adoption pathways.

"We know the due diligence, and so we can mitigate a lot of these risks, because the risks actually really lie with us on how we adopt these things and how we help these startups get to where they need to be."

Dr Mian Bi · Co-Founder & General Partner

CASE STUDY · CLINICAL INSIGHT = ALPHA

We do the clinical diligence that others avoid.

"Curing people of alcoholism is killing your own market.

No recurring revenue = no investment."

TIER 1 VC

"Curing patients creates referrals and market expansion.

Healthcare value is not about trapping customers."

MEDICAL ANGELS

PORTFOLIO · CASE IN POINT

Clean Slate Clinic

Australia's largest virtual alcohol detox clinic, backed by Medical Angels pre-revenue.

$10M+

50%+ YoY · UK launch live

COMPETITIVE POSITION

Access to opportunities generalists cannot clinically assess.

Founders choose us because we open doors in healthcare.

40,000+ clinician network for:

· Workflow validation

· Safety and regulatory pathways

· Reimbursement feasibility

· Adoption barriers

200+ deals

Clinically validated · Highly selective · Invested with conviction

WHY NOW

Five forces. One inflection point.

10+

Companies ready

Immediate pipeline

+65%

Market expansion

AU Healthtech $8.5B → $14B by 2033

📉

30–50% valuation correction

Better entry points than the 2021 peak across the healthtech sector.

🏛

Government backing secured

LaunchVic $300K grant plus ESVCLP tax incentives.

⚡

Healthcare transformation

Post-COVID appetite for change. AI adoption accelerating.

"In this environment where we've got lots of digital health innovation happening, whether it's the Heidis and Lyrebirds or companies like Clean Slate. All of those are coming to a point where we know the market is ripe for investment."

Dr Amandeep Hansra · Co-Founder & General Partner

PORTFOLIO HIGHLIGHTS

Proof, not promises.

Done by doctors, for doctors. Zero portfolio mortality across every investment since 2019.

Telecare → Teladoc

FIRST EXIT · NYSE:TDOC

· Specialist telehealth platform

· Acquired by US-listed global leader

· Exit in under 5 years

Coviu

· Profitable

· Expanding into US market

· AMN Healthcare signed

Medtasker

· Profitable

· Strong YoY growth

· Every state in AU + NZ

Clean Slate

· $10M+ run rate

· Australia's largest virtual alcohol detox

· UK launch live

· 50%+ YoY growth

Neogenix

· World-first AI sperm selection

· First live birth Jan 2026

· 10 clinics across AU, UAE, UK, US

EarFlo

· Smart sippy cup for childhood ear infections

· Deployed in Mozambique

· 30M people, 13 ENTs

"Not many other investors got behind them because they didn't really understand what they were doing. We were able to get behind them, and support them as they found a buyer."

Dr Mian Bi · on Telecare's acquisition by Teladoc (NYSE:TDOC)

THE FUND

Australian ESVCLP with tax advantages for LPs.

$40M

Target size

25%

Target net IRR

✓ Government backing secured

LaunchVic $300K grant. ESVCLP registration complete.

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STRUCTURE

Early Stage Venture Capital Limited Partnership (ESVCLP)

FUND LIFE

10 years + 3 year extension option

MANAGEMENT FEE

2%

CARRIED INTEREST

20% with 8% hurdle

MINIMUM COMMITMENT

$100,000 (fund) · $25,000 (syndication tier)

CO-INVESTMENT RIGHTS

$1,000,000+

FIRST CAPITAL CALL

20% of commitment · ~10-15% per half-year thereafter

AUSTRALIAN FOCUS

>80% (ESVCLP requirement)

TAX BENEFITS

Flow-through + 10-year CGT exemption
10% non-refundable tax offset on capital (cap $200K)

Available to wholesale investors only. Refer to the Information Memorandum for full terms.

STRATEGY

Concentrated diversification.

✓ 30–40 portfolio companies

✓ Initial cheques: $100K – $500K

✓ ~50% capital reserved for follow-ons

✓ Lead when clinical edge is highest

✓ Co-invest with Tier-1 VCs to unlock subsequent rounds

TARGETS

At least a third become category leaders

≥ 1/3 of portfolio

Several achieve international scale

25% net IRR target

Over 10-year fund life.

THE TEAM

Clinical authority.
Operating experience.
Venture judgement.

CO-FOUNDER · GENERAL PARTNER

Dr Amandeep Hansra

· Chief Clinical Adviser (Medicine), Australian Digital Health Agency

· Founder, Creative Careers in Medicine · 25,000-clinician network

· Committee Member, Industry Growth Program

CO-FOUNDER · GENERAL PARTNER

Dr Mian Bi

· Founder, Investing for Doctors · 30,000-clinician investor network

· Leads MAVF operations and deal infrastructure

GENERAL PARTNER

Dr Louise Schaper

· Former CEO, Australasian Institute of Digital Health

· Stanford alumna · PhD, technology acceptance

· Host of The Pulse podcast

· 20 years in digital health

OPERATING PARTNER

Tom Palmieri

· CPA · Founding partner, VT Advisory

· 15+ years in financial strategy, M&A and governance

· Adviser to Swinburne and Melbourne Accelerator programmes

HEAD OF OPERATIONS

Dr Sarah Newby

· Medical Doctor working in health tech operations

· Brings clinical rigour and compliance discipline to fund operations and investor reporting

INVESTMENT COMMITTEE

Dr Vinayak Smith

· Head of New Ventures, Virtus Health

· Physician-scientist

· Fellow, Australasian Institute of Digital Health

· Adjunct Lecturer (MedTech & AI), Monash University

INVESTMENT COMMITTEE

Lina Xu

· Co-founder & COO, Telecare (acquired by Teladoc, NYSE: TDOC)

· Harvard Business School

· Cartier Women's Initiative 2023

COMMUNITY-OWNED

"We've all been volunteers on this. We don't pay ourselves. We're just trying to put as much money into the companies and into setting up these structures, so that we actually build a really great vehicle to support innovation in healthcare."

Dr Amandeep Hansra · 1,000+ clinician investors · 55,000+ combined community

HOW IT WORKS

From interest to investment in four steps.

1

Express Interest

Fill in the EOI form below. No commitment, no obligation.

2

Receive the pack

Information Memorandum, FAQ and deck, delivered within minutes.

3

30-min call

Book with Amandeep or Bi. $100K+ meets with both founders.

4

Commit

Onboard via GXE. First capital call is 20% of commitment.

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BECAUSE IN HEALTHCARE, IMPACT DRIVES RETURNS.