As hard as it can be to pass on a great idea, the value has to be there or it’s not a good investment. Doug’s investing success comes from finding outstanding entrepreneurs, and unlocking the value in truly disruptive ideas and breakthrough technologies through disciplined due diligence in industries he knows well.
He follows the same approach with every investment he considers:
- Attract and back outstanding entrepreneurs
- Seek out true disruption
- Assemble the expertise needed to invest in the area
- Study the successful companies in that area
- Engage with leading universities and research institutions about the state of next-generation technologies
- Engage with the relevant corporate partner universe, gaining their assessment of likely exit requirements and scenarios
- Determine the best venture entry point
- Assess the risk/return profile
After Doug invests in a company, he executes the following tasks:
- Puts the right team in place to execute
- Provides ongoing guidance
- Measures progress regularly
- Cultivates the capital and corporate partnering markets
- Builds demand among potential strategic partners
- Times the exit to maximize return
Doug was deeply involved in R&D portfolio management at Lilly, and his buy side assignments continued at Monsanto where he was responsible for integrating the Searle acquisition. He also chaired one of six therapeutic area development teams at Schering Plough and led Mallinckrodt’s corporate research, venture LP investments and innovation for growth teams.
His initial venture capital experience came in 1996 when he was CEO of venture-backed company Progenitor (IPO 1997 NASDAQ: PGEN). Four years later, he joined Bay City Capital (BCC), a life sciences merchant bank and venture fund manager. Doug joined BCC as an Executive-in-Residence (2000-2003), then served as a Partner, General Partner, Investment Partner, Investment Committee Member (2004-2014) and BCC Advisor (2014 – 2015). Currently, Doug is managing partner with G5 Partners, a healthcare advisory and venture investment firm he founded in 2014.