How top healthcare VCs generate alpha with Garheng Kong (HealthQuest Capital)

Why Centana invests in Fintech - with Ben Cukier

What does it take to generate consistent growth equity returns in one of the most regulated industries in the world? Ben Cukier, Partner and Co-Founder of Centana Growth Partners, has spent over 25 years doing exactly that, investing exclusively in the financial services ecosystem and backing the companies that are quietly transforming it. Here's a glimpse of what you'll learn: * 00:00 Welcome and Ben Intro * 01:41 Regulation Over AI * 02:24 Moats and Compliance * 04:44 KYC and Sanctions Example * 05:39 Portfolio Spotlight: Sayari Labs * 06:20 ZestyAI InsurTech Pivot * 07:40 Wildfire Model and 50-State Filings * 10:07 Israel and the Fintech Ecosystem * 10:56 Founder Pitch and Unit Economics * 12:57 Growth Stage and Fund III * 14:48 How Centana Makes Decisions * 18:09 Career Lessons and Trusting People * 21:05 Biggest Miss: Passing on PayPal * 22:21 Fintech Market Size and the 2021 Vintage * 23:35 Five-Year Outlook and AI Adoption * 27:39 Closing and Next Steps In this episode, Steve Brotman speaks with Ben Cukier about why regulation in financial services is not a headwind but a durable competitive moat. Ben walks through how every company Centana backs must be regulation-aware, citing KYC, sanctions compliance, and beneficial ownership identification as examples of where fintech creates real enterprise value. He dives into portfolio companies Sayari Labs and ZestyAI, and explains how the latter pivoted from solar lead generation into one of the most sophisticated AI-powered property underwriting platforms in the insurance industry. Ben also shares how Centana evaluates unit economics and what growth-stage really means to them, the firm's inclusive investment committee process, and why he believes the big banks and insurers will remain dominant while their service providers undergo radical transformation. He reflects on passing on PayPal, the 2021 valuation bubble, and why he still believes the SaaS apocalypse narrative is both real and overblown at the same time.

How top healthcare VCs generate alpha with Garheng Kong (HealthQuest Capital)

What does it take to consistently generate venture capital returns in one of the most complex industries in the world? Garheng Kong, founder and managing partner of HealthQuest Capital, has spent more than two decades answering that question, backing transformative healthcare companies that improve patient outcomes while bending the healthcare cost curve. A physician, scientist, and engineer by training, Garheng has led investments resulting in more than 40 IPO and M&A exits across medical devices, diagnostics, biopharma, and healthcare services. Here's a glimpse of what you'll learn: * 00:10 Meet Garheng Kong * 01:51 Athletics and Teamwork * 03:08 From Medicine to Investing * 05:29 Why Start HealthQuest * 08:17 Modality Agnostic Edge * 09:42 Measuring Outcomes and Value * 12:35 Evaluating Founders Fast * 15:35 Hidden Systemic Problems * 17:55 AI in Healthcare * 25:40 Lessons and Mentorship * 29:08 Succession and Alpha Edge * 32:07 Lightning Round and Wrap In this episode, Garheng shares the investment philosophy behind HealthQuest Capital and explains why the firm takes a modality-agnostic approach to healthcare investing. Instead of focusing on a single sector like software or medical devices, HealthQuest evaluates opportunities across the entire healthcare ecosystem, searching for companies that deliver measurable improvements in both patient outcomes and healthcare economics. Garheng also discusses how today's payer-driven healthcare environment has fundamentally changed innovation, requiring startups to prove both clinical value and financial impact from day one. Additionally, Steve Brotman and Garheng dive into the structural inefficiencies that create massive opportunities for healthcare innovation, from administrative bloat to the disconnect between patients, providers, and payers. They explore how venture investors evaluate founders in the first minutes of a meeting, why resilience and domain expertise matter more than perfect business plans, and how AI is beginning to transform healthcare by saving both time and lives. Garheng also shares his perspective on the technologies shaping the next decade of healthcare, from robotic surgery and AI diagnostics to why gene editing may be overhyped today while genetic sequencing is quietly becoming one of the most powerful tools in modern medicine.

From cancer survivor to founder of Oncology Ventures: Ben Freeberg's journey

A cancer diagnosis rarely leads to a venture fund, but for Ben Freeberg, it became the catalyst for building one. As Founder and Managing Partner of Oncology Ventures, Ben transformed a firsthand experience with broken cancer care into a focused investment strategy aimed at fixing the system from the inside out. Here's a glimpse of what you'll learn: * 00:12 Introduction and Welcome * 01:17 The Origin Story of Oncology Ventures * 04:56 Challenges and Surprises in Fundraising * 07:07 Superpowers of Oncology Ventures * 10:02 Fund Performance and Future Plans * 17:28 Impact on Patient Lives * 21:39 The Role of Stand-Up Comedy in Venture Capital * 24:38 Life in Austin and Closing Remarks In this episode, Host Brian Smiga speaks with Ben Freeberg about the moment his professional trajectory changed forever. After surviving cancer, and navigating delayed diagnoses, fragmented care, and costly inefficiencies, Ben recognized that the biggest opportunities in oncology weren't just in new drugs, but in the infrastructure, data, and care delivery systems surrounding them. That realization became the foundation for Oncology Ventures. Also, Ben explains how a specialist venture model can outperform in complex healthcare markets. He breaks down why Oncology Ventures avoids drug development risk, how its strategic LP base of cancer centers and healthcare operators creates a powerful sourcing and commercialization advantage, and what it takes to underwrite early-stage oncology companies before the market fully validates them. The conversation also covers fund construction, co-investment discipline, and the real-world patient impact already generated, demonstrating how strong business models and meaningful outcomes can scale together.

Bridging government and venture capital with Yanev Suissa of SineWave Ventures

What happens when a venture capitalist brings a deep understanding of government into the startup world? Yanev Suissa, Founder and Managing General Partner of SineWave Ventures, has done just that, carving out a powerful niche by helping commercial-first startups break into government markets. His journey from NEA to the Bush and Obama administrations gives him a perspective few investors can match. Here's a glimpse of what you'll learn: * 00:42 Introduction and Guest Overview * 01:24 Yanev Suissa's Background and Career Path * 02:19 The SineWave Ventures Model * 03:33 Navigating the Government Tech Space * 05:42 Competing with Mega Funds * 07:50 Investment Decision-Making Process * 10:24 Evaluating Founders and Teams * 16:14 Impact of AI and Investment Landscape * 18:23 The Importance of Vision in Entrepreneurship * 19:16 AI and Business: Making Money and Saving Money * 19:38 Challenges and Realities of AI Implementation * 20:20 Future Proofing and Investment Strategies in AI * 21:16 The Role of VCs in Supporting Startups * 22:21 Debate: The Future Landscape of AI Companies * 25:32 VCs and Founders: Building Productive Relationships * 29:55 The Rewards and Challenges of Being a VC * 31:42 Timeless Advice for Entrepreneurs and Investors In this episode, Yanev unpacks how his background in federal investment shaped the founding of SineWave Ventures, a VC firm built to help commercial technology companies win in both the public and private sectors. He explains why many venture-backed startups overlook government as a growth engine, and how SineWave uniquely helps founders access these massive, often hidden, revenue streams. With past investments in Databricks, SentinelOne, and Evolv, Yanev shares what makes a venture truly scalable across sectors. The conversation dives deep into the challenges of competing with mega-funds, the critical role of team dynamics in startup success, and how Yanev's firm makes concentrated bets in a crowded market. He also offers a candid perspective on the current AI supercycle; including what's hype, what's real, and how to think about sustainable ROI in enterprise AI adoption. Whether you're a founder, investor, or LP, Yanev's insights offer a playbook for navigating venture capital with both conviction and clarity. Sponsor Host: Affinity Affinity is a relationship intelligence platform that empowers dealmakers in relationship-driven industries to find, manage, and close more deals. With the most automated relationship intelligence insights and technology, Affinity enables leaders to drive deals and ensure their teams can take action with confidence, knowing the context and history of every relationship. The Affinity platform, including Affinity CRM, is used by over 3,000 relationship-driven organizations worldwide. Founded in 2014, Affinity is headquartered in San Francisco and backed by leading investors, including Menlo Ventures, Advance Venture Partners, 8VC, and MassMutual Ventures. Learn more at https://affinity.co

Inside Cathay Innovation: Simon Wu on industry-powered venture capital

What if your venture capital firm could plug you directly into the world's most influential corporations; unlocking growth, customers, and global scale overnight? That's exactly what Simon Wu does as a Partner at Cathay Innovation. Leading U.S. investments at the $2.5B global VC, Simon's work sits at the intersection of innovation, industrial strength, and strategic capital. Here's a glimpse of what you'll learn: * 00:41 Introduction to Alpha Partners and Guest Simon Wu * 01:33 The Origin Story of Cafe Innovation * 03:06 Growth and Expansion of Cafe Innovation * 05:59 Unique Corporate Connections and Investment Strategy * 11:04 Navigating the Competitive Venture Capital Landscape * 15:23 AI and Wealth Tech: Current Trends and Future Predictions * 23:28 Closing Thoughts and Future Collaborations In this episode, Simon Wu shares how Cathay Innovation bridges the gap between fast-moving startups and industry giants, turning traditional corporate LPs into game-changing partners for growth-stage companies. From automotive and energy to digital health and fintech, Simon explains how their global corporate network unlocks distribution, contracts, and strategic edge for portfolio founders. With nearly 20 core corporate LPs and hundreds of partners worldwide, Cathay's model delivers far more than capital. Simon also reveals what separates the good from the great in today's AI-fueled startup landscape. He walks through Cathay's investment in companies like Skan and Range, outlines how their ecosystem teams help navigate enterprise sales, and breaks down what it really takes to win Series A and B rounds in a bifurcating VC market. For VCs, founders, and operators alike, this conversation is a masterclass in strategic venture capital at scale. Sponsor Host: Affinity Affinity is a relationship intelligence platform that empowers dealmakers in relationship-driven industries to find, manage, and close more deals. With the most automated relationship intelligence insights and technology, Affinity enables leaders to drive deals and ensure their teams can take action with confidence, knowing the context and history of every relationship. The Affinity platform, including Affinity CRM, is used by over 3,000 relationship-driven organizations worldwide. Founded in 2014, Affinity is headquartered in San Francisco and backed by leading investors, including Menlo Ventures, Advance Venture Partners, 8VC, and MassMutual Ventures. Learn more at https://affinity.co