“You Are Truly an Angel” – When Innovation and Influence Thrive
For me, it is non-negotiable that my investments must be focused on innovation and impact. In 2024, we are grappling with a new normal: environmental disasters, collapsing health systems, social and economic inequality, geopolitical instability, and the concentration of power in the hands of vested interests. Therefore, the money I put into the world cannot be done solely with the goal of getting a return. It must also create a positive impact.
To ensure your investment strategy stays true to your values, you need a clear theory of how and why you invest, so I’ve coined a terminology to help guide your decision-making. “Intersectional Incredibles”.
Intersectionality is having two or more identities that are currently or have been marginalized in the past that blend together and create significant barriers in your life. For example, this means identifying yourself as both queer and a person of color. I believe that intersectional people have a unique level of creativity, resilience, and empathy that makes them better entrepreneurs and remarkable people.
When I look for intersectional English, I look for true innovation and genuine impact from their business ideas. So what does “innovation” mean? Is it another buzzword? Is it overused like “digital” or “sustainable”? Yes, but to me, there is a meaning behind it. Very well thought out, I The World Economic Forum released a modelIn terms of startups and capital investments, that means innovation that brings about change. There are three types, but I think the most common (i.e. step 1 of “proper” innovation) is “architectural innovation” – using existing technology, but with a subtle and unique business model in a new market. The second is “disruptive innovation”, think of the world of deep tech. Or are we looking beyond artificial intelligence and moving towards general intelligence? A new technology that has never been utilized before, but with an existing business model in the same/similar market. The best one is “radical innovation” – using a fresh technology in an entirely new market, sometimes disrupting the entire value chain. The closest to me is the world of agtech and foodtech.
Once we agree on innovation, how does this founder foster true “impact”? Do not confuse this with ESG, which is the process or approach to running a business, or in this case asset management. This should be built into the startups we invest in, but can take time as the company scales. Impact for me is about solving “global future” problems. What will the future of sustainable energy be? What will the future of equitable education be? What will the future of affordable and innovative healthcare be? Admittedly, this is pretty broad. I have invested and focused on “impact” including Fintech For Good, HealthTech, ClimateTech, and community-driven consumer products. It goes beyond the “carbon tunnel vision” that is unattractive and assumes all “impact” is focused on emissions. To make this concrete, I will talk about three recent investments I have made. These investments were intersectional, innovative, and impactful, which makes me an “angel” and increases my chances of getting better returns.
Sex, rent and mind control
It’s an eclectic title meant to provide a glimpse into the diverse mix of venture-backed, impact-driven companies in my portfolio. I want to highlight intersectional experiences and empathetic approaches as the guiding principles of the innovation each of these companies is building on. Let’s start by talking about sex, baby. Polari GroupThey are revolutionizing anal and rectal health, an area that has seen very little innovation until now. What I love about them is not only the amazing, intelligent, and very accepting founding team, but the versatility of the product. It’s a consumer product, and it helps people prepare for anal sex without the shame and stigma of douching. What other product could be a development in sex tech that changes the field of healthcare and shifts the entire mindset and cultural norms of the queer community (and everyone who has anal sex)?
Next time you’ve met a terrible roommate or realized you had to move, is there really nothing to make the move less painful than a Facebook group or a SpareRoom? The rental market and the community-focused technologies associated with it are in need of a shake-up. That’s why I invested. Redwood RentMany people say social media has made them more isolated and they want to reconnect with their communities, but few address the structural issues of rising housing prices, loneliness, and (unconscious) discrimination on how we find a sense of “belonging” in cities. Redwood combines multimodal, geospatial, and ethical machine learning to create recommendation models that find the best roommates who share similar values and life experiences. As buying a home becomes a pipe dream for millions of people today (and future generations), finding community through renting and third spaces is essential – an untapped market ripe for (home) remodeling.
And finally, mind control. It’s very tongue-in-cheek, but it’s one of my favorites. How can we accurately track our mood and health? What are smarter ways to understand early-onset dementia? Attention is our most limited resource, and there’s an influential and very profitable market there. NX10 is a neurometrics deeptech startup It uses AI to predict cognitive states. This can range from when you get bored with a particular game to stress levels at work. Mid- to long-term insights can help you understand your sleep quality, learning and memory patterns, and ultimately neurodegeneration. To live longer, healthier lives, we need to make better use of data about brain function. So why not turn passive phone use into a health monitor? Your iPhone knows your mood. Use its insights to benefit your neurohealth.
Are these founders the unicorns of tomorrow?
Why I host The first Intersectional Incredible Forum (iiF) The purpose of iiF, which will be held at Google HQ in London on July 16th this year, is because we believe that intersectionality as a criterion for investment drives innovation. It will be the first initiative dedicated to uncovering intersectionality. iiF is for superstar intersectional founders who are active in the industry, especially as LGBTQ+ or immigrants (our first year spotlight). And it is for smart funders who want to embed intersectionality in their decision making and understand its necessity for returns. In the current investor mindset, we know that the next generation of unicorns is unthinkable, especially without considering true intersectionality, impact and innovation. Follow my investment journey for updates and join me in creating the companies of tomorrow to build a more engaging, more meaningful and equitable future.
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Christian Toury i³ Investment Venture Expert Bain & Company.
