The Propel(x) Podcast

Data-Driven Healthcare Real Estate: Didier Choukroun on Building SPHERE Investments

Title: Building a Data-Driven Healthcare Real Estate Empire with Didier Choukroun Guest: Didier Choukroun, Founder & CEO of SPHERE Healthcare Investments Host: Swati Chaturvedi, CEO of Propel(x) Episode Overview: In this episode, Swati Chaturvedi talks with Didier Choukroun, the visionary behind SPHERE Healthcare Investments, a leading healthcare-focused real estate investment firm. Didier shares his journey from his early career in France and Latin America to establishing SPHERE in the U.S., expanding into Europe, and building a $1.3 billion portfolio across 15 U.S. states and several European countries. Key Discussion Points: * Didier’s career journey: From real estate development in France to entrepreneurship in Latin America and the U.S. * Founding SPHERE in 2010 with a mission to improve public health through healthcare real estate investment. SPHERE’s unique investment approach: * Data-driven strategy: Using proprietary healthcare analytics for smarter decision-making. * Vertical integration: Managing every stage of the investment process in-house. * Multidisciplinary team: Physicians, public health experts, and data scientists working together to optimize investment outcomes. SPHERE’s portfolio highlights: * 39 assets across 15 U.S. states, plus France, Spain, Italy, and soon the UK. * Average IRR of 23.5% and annual cash yields above 10%. * Successful track record of 12 asset dispositions with exceptional returns. * The role of SPHERE’s proprietary data platform in mitigating risk and identifying opportunities. * The importance of building authentic relationships with healthcare operators. * Partnership with Propel(x) to make institutional-grade healthcare real estate opportunities accessible to accredited retail investors. * Didier’s insights on risk management, investment strategy, and leveraging data for long-term success in healthcare real estate. Why Listen: This episode is packed with actionable insights for investors, healthcare professionals, and anyone curious about the intersection of real estate, data analytics, and public health. Didier’s story illustrates how strategic vision, data-driven decision-making, and operational expertise can create a resilient, high-performing investment firm. Resources & Links: SPHERE Investments Propel(x) Timestamps: 00:00 – Welcome & Introduction 00:45 – Overview of SPHERE Healthcare Investments 02:57 – SPHERE’s building blocks: data, team, vertical integration 04:27 – Portfolio size, assets, and track record 12:11 – Didier’s early career and entrepreneurial journey 19:40 – Early U.S. investments and lessons learned 27:24 – SPHERE’s current data-driven strategy 34:07 – Partnership with Propel(x) 40:35 – Final thoughts for the audience

Non-Dilutive Funding for Deeptech Startups: How the National Science Foundation Invests

Discussion Points * (4:12) What does the NSF look for in companies? * (6:05) How does the selection process work? * (10:05) What are the non-technical elements of the awards program? * (19:12) Examples of breakout success in the NSF portfolio * (21:14) What distinguishes a novel technology from a promising technology based startup? * (24:45) NSF's outreach efforts for diversity and inclusion * (29:16) Why should the government finance technology risk? References * National Science Foundation [https://seedfund.nsf.gov/] * Bayh-Dole Act 1980 (Wikipedia) [https://en.wikipedia.org/wiki/Bayh%E2%80%93Dole_Act#:~:text=The%20Bayh%E2%80%93Dole%20Act%20or,from%20federal%20government%2Dfunded%20research.] * Ginko Bioworks [https://www.ginkgobioworks.com/] * Opus 12 [https://www.opus-12.com/] * Marinus Analytics [https://www.marinusanalytics.com/] Topics * Grant funding for science startups * Startup investing * Commercialization * Investing diligence * Evaluating team Get to know Propel(x) * Propel(x) Twitter [https://twitter.com/propel_x] * Propel(x) LinkedIn [https://www.linkedin.com/company/propel-x-/] * Join Propel(x) as an Accredited Investor [https://www.propelx.com/for_investors/] * Andy Reed [https://www.linkedin.com/in/andersonreed]

Strategies for Deep Tech Investing with Eric Rosenblum from Tsingyuan Ventures

Discussion points * (2:43) What is Deep Tech? * (6:26) How do you gauge commercial readiness for Deep Tech? * (8:51) How do you evaluate the unique risk factors of Deep Tech startups? * (13:42) How does alignment and investment strategy create value as a venture investor? * (18:35) Bridging the technical founder to successful commercial founder gap. * (25:20) What areas of deep tech will be the biggest drivers of innovation and growth in the next investment period? References * Tsingyuan Ventures [http://www.tsingyuan.ventures/] * TEEC Angels [http://www.teec-angel.com/wp2014/home/] * Tsingyua University [https://www.tsinghua.edu.cn/en/index.htm] * Zoom [http://zoom.com/] * Ginko Bioworks [https://www.ginkgobioworks.com/] * Synthetic biology [https://en.wikipedia.org/wiki/Synthetic_biology] (Wikipedia) * Ambilight [https://www.ambilightinc.com/] smart glass * Mission Bio [https://missionbio.com/] * WeRide [https://www.weride.ai/] * Plus.ai [https://plus.ai/] * Applied Ventures [https://www.appliedmaterials.com/company/applied-ventures] * TDK Ventures [https://www.tdk-ventures.com/] * xMems [https://xmems.com/] microspeakers * Subtle Medical [https://subtlemedical.com/] Topics * Deep Tech (deeptech) startups * Artificial intelligence * Synthetic biology * Genetics * Autonomous driving * Venture Capital Investing * Investing Strategy * Technical risk & due diligence Get to know Propel(x) * Propel(x) Twitter [https://twitter.com/propel_x] * Propel(x) LinkedIn [https://www.linkedin.com/company/propel-x-/] * Join Propel(x) as an Accredited Investor [https://www.propelx.com/for_investors/] * Andy Reed [https://www.linkedin.com/in/andersonreed]

Deal Sourcing and Climate Tech with Jason Holt of Baruch Future Ventures

Discussion Points * (0:30) What is product-go-to-market fit? * (3:00) Why isn't Climate Tech just Cleantech 2.0? * (8:00) How do you source good deals efficiently? * (17:00) Who else supports Climate Tech? * (23:31) What lessons did you learn from your first successful investment that are still relevant today?   References * Baruch Future Ventures [https://www.baruch.vc/] * Jason Holt [https://www.baruch.vc/jason-holt] * Tom Baruch [https://www.baruch.vc/tom-baruch] * Geltor [https://geltor.com/] * Cyclotron Road [https://www.cyclotronroad.org/] * MIT Engine [https://www.engine.xyz/] * Breakthrough Energy Ventures [https://www.breakthroughenergy.org/] * New Energy Nexus [https://www.newenergynexus.com/] * Lawrence Berkeley National Labs [https://www.lbl.gov/about/] * US Department of Energy [https://www.energy.gov/] * National Science Foundation Innovation Corps [https://www.nsf.gov/news/special_reports/i-corps/] (ICORPS) * M34 Capital [http://www.m34capital.com/] * Maxygen [https://www.maxygen.com/] * Frances H. Arnold Group at Caltech [http://fhalab.caltech.edu/] * Kauffman Foundation [https://www.kauffman.org/] Topics * Investment Diligence * Hard Tech * Tough Tech * Carbon Tech * Decarbonization * Technology commercialization * Cleantech * Synthetic Biology * Product Market Fit * Electrification * Sustainable Protiens * Pivots * Climate Catastrophe * Wildfires * Climate Change * Hope * Solar and Wind Energy * Geothermal   Get to know Propel(x) * Propel(x) Twitter [https://twitter.com/propel_x] * Propel(x) LinkedIn [https://www.linkedin.com/company/propel-x-/] * Join Propel(x) as an Accredited Investor [https://www.propelx.com/for_investors/] * Andy Reed [https://www.linkedin.com/in/andersonreed]

Due-Diligence - How to Evaluate Technology, Regulatory and IP Risks

In this episode we begin to analyze the Internal Risks of a company - Technology, Regulatory and IP risks are covered in this episode. Join us as we define each of the risks, and discuss the key considerations for each. Disclaimer: Propel(x) is a funding platform, not a Broker-Dealer. Securities are offered through Hubble Investments, member FINRA/SIPC and an affiliate of Propel(x). Private investments are highly illiquid and risky and are not suitable for all investors. Past performance is not indicative of future results. You should speak with your financial advisor, accountant, and/or attorney when evaluating private offerings. Neither Propel(x) nor Hubble Investments makes any recommendations or provides advice about investments.