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The F50 Medical Device Investment Forum, co-hosted by Hunniwell Lake Ventures and F50 Elevate was successfully held at Indiebio headquarters in San Francisco on 13th January 2020. This event took place during the first day of the JP Morgan conference bringing together corporate executives, venture capitalists, and select startups to hear founders Richard Fang and Daniel Teo from Hunniwell Lake Ventures shared their industry insights and investment perspectives. The founders unveiled their first-ever flagship fund, the Hunniwell Lake Healthcare Fund.

Welcome Remarks

Daniel Teo, Founding Partner, Hunniwell Lake Ventures

The Palo Alto-based fund invests in extensions of proven technologies within overlooked segments of the medical device space. It provides entrepreneurs with a longer runway to develop a more complete portfolio of products before monetizing their innovations. We leverage our entrepreneurial spirit, operational experience, and global networks to help companies achieve higher profitability earlier, through improved market access, greater capital efficiency in R&D, and lower manufacturing costs. Hunniwell’s vision is to be the enabler for emerging medical device companies with the potential to be billion-dollar international players, and in turn, help raise the quality of healthcare and make surgical procedures more accessible worldwide. Hunniwell is building a concentrated portfolio of 15 to 20 companies at the imminent or early revenue stages, with investments ranging up to $5M.

Jun Axup, Scientific Director and Partner

IndieBio partner and scientific director Jun Axup inaugurated the event with her welcome remarks. “I am glad that the Honeywell Lake Medical Device Fund can provide innovation and development opportunities for companies in the medical device field, and look forward to the innovation of the medical surgery field”, Jun commented.

John Racioppi, Partner, F50 Elevate

John acknowledged Hunniwell Lake Ventures and IndieBio for sponsoring the food and venue for this event. He further gave an update on the upcoming F50 Elevate Cohort 2. Cohort 2 program is targeted to accelerate startups and aspire for higher levels of success. “The focus of this cohort is HealthTech, FoodTech, DeepTech, and Fintech and is open for Seed & pre-Series A startups”, He added. The startups have no upfront cost to enter this program and will receive a $25k investment from F50 Elevate.

Special Presentation: The Future of Surgeries

Dr. Richard Fang

“This fund is looking for courageous entrepreneurs who want to use new technologies to try to disrupt the highly concentrated medical device industry,” commented Richard Fang, Managing Partner of Hunniwell Lake Capital. He added “These innovators should challenge the fastest growing in the field of surgery, such as RF / ultrasonic surgical equipment, advanced laparoscopy/endoscopy, robotics, and visualization, and wound care.

At the forum, Dr. Richard Fang said, “The medical device industry is ripe for disruption. Some of the new innovations that are coming out of the medical device field right now will alter the landscape of how we treat patients for years to come. Hunniwell is positioning itself to help create meaningful change and lasting innovation in the medical device healthcare fields.”

Medical Device Investment Panel

John Racioppi, Sam Ramsey, Dr. Richard Fang & Dr. Uli Chettipally (from the left)

The event continued with an expert panel that covered a number of timely topics related to medical devices. The panel was chaired by F50 Partner, John Racioppi and featured Richard Fang and Daniel Teo from Hunniwell Lake Ventures, Dr. Uli Chettipally, Founder of InnovatorMD, and Sam Ramsey, Asahi Intec Medical Devices. The panel discussed a number of issues including their vision for surgical procedures in the next 20 years, the role of AI in the medical device industry, security implications for connected medical devices, and hot areas of investment in medical devices.

Reception & Startup Showcase

The Hunniwell Medical Device Forum alongside the JP Morgan Healthcare Conference attracted over 120 investors and corporate executives including leading medical devices and healthcare experts who are reimagining the future of healthcare. Three promising startups, Qidni Labs, Biomesense and Posh Wellness Laboratory Inc pitched to investors, delivering a two-minute pitch followed by a one minute Q&A.

Fireside Chat

Daniel Teo and David Cao

Hunniwell Lake Healthcare Fund I invests in extensions of proven technologies within overlooked segments of the medical device space. It provides entrepreneurs with a longer runway to develop a more complete portfolio of products before monetizing their innovations. We leverage our entrepreneurial spirit, operational experience, and global networks to help companies achieve higher profitability earlier, through improved market access, greater capital efficiency in R&D, and lower manufacturing costs.

Richard Fang will be managing the fund alongside co-founder Daniel Teo. Richard is the former CEO of Reach Surgical, a leading international brand of surgical instruments with a presence in six continents around the world. Reach Surgical was recently sold to private equity. Richard is a Ph.D. in Physics from Purdue and formerly part of the R&D team at J&J. He brings 15 years of experience in the Chinese market for talent, distribution channels, supply chain, and strategic partnerships.

Daniel Teo was CFO of Reach Surgical, where he also had responsibilities for establishing and advancing all of its international businesses and joint ventures. He is a career CFO/COO who has orchestrated numerous fund-raising, acquisitions, and divestments for different companies. Daniel is a graduate from Cambridge University majoring in (Medical) Physics, holds a Master’s degree from the Stanford Graduate School of Business as well as Accounting and Finance qualifications from the ACCA in London.

This fund is seeking to build an entrepreneurial environment where innovation is given the opportunity to demonstrate its full potential. This environment will foster innovations that have a greater chance of commercial success, allowing entrepreneurs to improve the monetization of their ideas and have a greater long-term human impact.

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To be considered for investment please submit business plans to [email protected]