I’ve always found it fascinating how two seemingly disparate worlds—fertility medicine and angel investing—often mirror each other in unexpected ways. When I sit across from a hopeful founder, scrutinizing their pitch deck and trying to gauge the potential of their nascent venture, I can’t help but draw parallels to my clinical practice as an IVF specialist. Both roles involve a kind of due diligence that is as meticulous as diagnosing a complex fertility case.
Just last week, I was reminded of this similarity during a particularly intricate IVF consultation. The couple had been trying to conceive for years, and their medical history was a labyrinth of failed attempts, partial diagnoses, and unaddressed concerns. As I pored over their records, trying to piece together a coherent picture, it struck me how much this process resembled the due diligence I perform when considering an investment in a startup. In both realms, I must sift through layers of information, discern patterns, and ultimately make a decision that balances risk with potential reward.
In the world of investing, due diligence is about more than just numbers and projections. It’s about understanding the founder’s vision, assessing market potential, and identifying possible pitfalls. Similarly, in fertility treatment, a successful diagnosis requires more than just test results. It demands an understanding of the patient’s journey, the nuances of their medical history, and the emotional weight they carry. It’s about seeing beyond the symptoms to the human story beneath.
One of the most challenging aspects of both fields is the inherent uncertainty. In investing, even the most promising startup can falter due to unforeseen market shifts or execution challenges. In fertility, even the most hopeful prognosis can end in disappointment. This uncertainty is something I’ve written about before, in posts like When Startups Mirror the Uncertainty of Fertility Treatments. It’s a constant reminder that our best-laid plans are just that—plans, not guarantees.
But this uncertainty also holds a certain allure. It’s what keeps me engaged and invested in both arenas. There’s a thrill in navigating the unknown, in making decisions that could change lives, whether it’s helping a couple realize their dream of parenthood or backing a founder who might just have the next big idea. It’s a reminder that, as in life, there are no sure things—only opportunities to make informed choices.
The parallels don’t end there. Just as I advocate for a patient-centered approach in medicine, I believe in founder-focused investing. In both cases, it’s crucial to build a relationship based on trust and transparency. Patients and founders alike are more likely to succeed when they feel supported and understood. This is why I spend time getting to know the people behind the pitch or the patient chart, understanding their motivations and concerns.
In practice, this means asking the right questions. For a founder, it might be about their vision for scaling the business or how they plan to navigate regulatory challenges. For a fertility patient, it might involve exploring their emotional readiness for treatment or discussing alternative paths to parenthood. In both scenarios, the goal is to uncover insights that aren’t immediately apparent, to tease out the nuances that could make all the difference.
Of course, due diligence isn’t just about identifying potential—it’s also about recognizing limitations. In investment, this might mean acknowledging when a market is oversaturated or a business model is untested. In fertility, it could involve confronting the harsh reality of biological constraints or the impact of previous treatments on future success. In these moments, it’s important to be candid and compassionate, to provide guidance that is both realistic and hopeful.
Reflecting on these parallels, I’ve come to realize that the skills I’ve honed as a doctor have enriched my approach to investing, and vice versa. Medicine has taught me to listen deeply and empathize, skills that are invaluable when evaluating a founder’s passion and resilience. Investing, on the other hand, has sharpened my ability to assess risk and potential, skills that enhance my diagnostic acumen in the clinic.
Ultimately, both fields require a delicate balance of science and art. The science provides the framework—the data, the metrics, the probabilities. But the art is where the true magic happens. It’s where intuition meets experience, where relationships are built, and where lives are transformed. It’s this blend that makes my dual career so fulfilling, and why I continue to find inspiration in the intersections between them.
In the end, whether I’m diagnosing a challenging fertility case or evaluating a promising startup, my goal remains the same: to make a positive impact, to support those who put their trust in me, and to navigate the complexities of each decision with integrity and care. It’s a journey filled with challenges and triumphs, and I wouldn’t have it any other way.
So, the next time you’re faced with a complex decision—be it in medicine, investing, or life in general—remember that the process is as important as the outcome. Embrace the uncertainty, ask the tough questions, and trust in your ability to discern the path forward. After all, it’s these very challenges that teach us the most and lead us to our greatest successes.