Thesis Verticals Portfolio Team Criteria Investors
I'm a Founder → I'm an Investor →

Most AI healthcare startups will look
the same in two years. We find
the ones that won't.

Intelligence Ventures backs early-stage founders building AI-powered healthcare companies with proprietary data moats. We study the landscape deeper than anyone at this stage — and we invest behind what we learn.

I'm a Founder → I'm an Investor → Read Our Research
Fund Overview Deploying Now
Check Size $25K – $50K
Stage Pre-Seed / Seed
Geography US & Canada
630+
Startups Reviewed & Counting
350+
Co-Investor Network
20–30
New Applications Per Week
Proprietary Data Is the Moat · Research-Driven Investing · We Map It. Then We Fund It. · Diagnostics · Devices · SaaS · Pharma Tools · Pre-Seed & Seed Stage · State of AI Healthcare 2026 · The Intelligence Behind AI Healthcare Investing · Proprietary Data Is the Moat · Research-Driven Investing · We Map It. Then We Fund It. · Diagnostics · Devices · SaaS · Pharma Tools · Pre-Seed & Seed Stage · State of AI Healthcare 2026 · The Intelligence Behind AI Healthcare Investing ·
Our Thesis


In AI healthcare,
the data is the product.

There are now hundreds of startups applying machine learning to healthcare. Drug discovery. Clinical workflows. Diagnostic imaging. Patient engagement. From a distance, they all sound similar. Up close, the difference between the winners and the noise comes down to one thing: who owns the data.

The companies that build lasting value in AI healthcare are the ones sitting on proprietary datasets — unique, defensible collections of clinical, genomic, imaging, or operational data that make their models smarter over time and impossible to replicate. That's the flywheel. That's the moat.

This isn't a thesis we read in a report. It's one we built by reviewing the earliest-stage AI healthcare pipeline in North America — company by company, deck by deck, year over year. We know which sub-niches are overcrowded, where founders keep solving the same problem with the same approach, and where massive markets are still dramatically underserved. That's where we invest.

Conviction over consensus

Proprietary data is the only durable moat in AI healthcare. Full stop. This isn't a hypothesis — it's the filter we run every company through.

Intelligence as the product

We don't just write checks. We study the landscape obsessively and publish what we find. The fund is a byproduct of the knowledge.

Access others miss

We see companies larger funds structurally miss. Early. Often. Before the market catches up. Our pipeline grows by 20–30 new companies every week.

Focused, not scattered

Four verticals. US and Canada only. AI must be core. We go deep where others go broad — which means we understand the regulatory, clinical, and commercial dynamics well enough to be a useful partner.

The Intelligence Hub

We didn't build a fund.
We built a map.
The fund is what we do with it.

Most emerging managers ask you to take their thesis on faith. We published ours. The State of AI Healthcare is a 60+ page annual report built from our proprietary dataset — the same intelligence that drives every investment decision. We'd rather you read our research than listen to a pitch.

Get the Report →
630+
Startups Reviewed & Counting
60+
Pages of Proprietary Research
19
Report Sections
4
Healthcare Verticals Mapped
20–30
New Companies Per Week
350+
Co-Investor Network
Investment Focus

Four verticals.
Four opinions.

We don't just label sectors — we have a point of view on each one. Here's how we think about the space, and what we're looking for.

01 / 04

Biotech & Pharma Tools

The deepest moats, the longest timelines, and the highest ceiling. PhD-led teams with proprietary datasets thrive here. Everyone else struggles.

Deep Moats, High Ceiling
02 / 04

Diagnostics

The most underbuilt vertical in AI healthcare relative to market size. If you're building here, we want to hear from you.

Most Underbuilt Vertical
03 / 04

Medical Devices

Hardware-AI integration is the next frontier. Regulatory complexity filters out the casual entrants and rewards the ones who persist.

Next Frontier
04 / 04

Healthcare SaaS

The largest vertical in our pipeline — and the most crowded. Winning here requires specialty-specific workflows or a novel go-to-market, not another general-purpose platform.

Crowded — But Room for Breakouts
Portfolio

Companies we
believe in.

AGED Diagnostics
AGED Diagnostics
Diagnostics

AI-powered blood tests to detect and monitor liver disease (MASLD/NASH) with greater speed and accuracy than traditional methods — enabling earlier intervention before irreversible damage occurs.

→
HEARTio
HEARTio
Medical Devices

AI-driven electrocardiogram analysis that rapidly and accurately detects cardiac conditions, enabling earlier intervention and better patient outcomes at the point of care.

→
Atapir
Atapir
Medical Devices

AI-powered computer vision to contactlessly monitor vital signs and detect patient deterioration — no wires, no cuffs, no electrodes. Founded by the chief of anesthesiology at the San Francisco VA.

→
The Team

Scientists, operators,
and builders.

Doug Nissinoff
Doug Nissinoff, MS
Founder & Managing Partner
LinkedIn
Joey Bose, MS
Joey Bose, MS
Venture Partner
LinkedIn
Minhal Yusufali
Minhal Yusufali MS
Venture Partner
LinkedIn
Liam Lewis, PhD MA
Liam Lewis, PhD MA
Principal
LinkedIn
George Gayed, PharmD RAC
George Gayed, PharmD RAC
Associate
LinkedIn
Maria-Teresa Mata Vivas
Maria-Teresa Mata Vivas
Analyst
LinkedIn
Zofia Kowalska
Zofia Kowalska
Analyst
LinkedIn
Investment Criteria

AI is the core mechanism — not a feature

We do not invest in companies where AI is a wrapper, a workflow enhancement, or a chatbot UI. We look for products where removing the AI would break the product entirely. Machine learning, computer vision, foundation models — doing the fundamental work the product promises.

Operationally US or Canada

We define this precisely: an operational corporation already established, with team members physically based in either country. We do not fund companies "planning" to establish in the US or Canada. You must already be operational there.

One of our four verticals

Biotech/pharma tools (no therapeutics), diagnostics, medical devices, or healthcare SaaS. We go deep, not wide — which means we understand the regulatory, clinical, and commercial dynamics of each vertical well enough to be a useful partner, not just a check writer.

Pre-seed or seed stage

We back founders with fast $50K checks at the earliest stages, when the product is still being shaped and the team is small. We don't string founders along. We move fast, give clear answers, and get to yes or no quickly.

We fund
✓ AI as the core product architecture
✓ US or Canadian corporations, operational now
✓ Team physically based in US or Canada
✓ Pre-seed or seed stage companies
✓ All four defined healthcare verticals
We don't fund
✗ Therapeutics or drug development
✗ "Planning to" incorporate in US/Canada
✗ AI as a marketing checkbox or add-on
✗ Series A or later-stage companies
✗ Companies outside US or Canada operationally
For Investors

We didn't build a fund.
We built a map. The fund is what we do with it.

Most seed-stage funds in healthcare AI make investment decisions based on warm intros, conference conversations, and instinct. We do it differently. Intelligence Ventures was built on a research-first model — evaluating hundreds of companies across four verticals, publishing our findings, and building a proprietary understanding of which sub-niches are overcrowded, where the white space is, and what separates the companies that scale from the ones that stall.

Executive LP Committee (optional). For LPs who want to be hands-on: monthly 2-hour meetings where LP members evaluate 4 startups using structured grading rubrics. Investment memos and pitch decks sent in advance. Traditional hands-off LP participation is equally welcome — invest and let us do what we do.
$25,000 minimum. Structured for healthcare executives and physicians who want meaningful exposure to early-stage AI healthcare, alongside a GP who lives in this deal flow every single day.
SDIRA eligible. Use tax-advantaged self-directed IRA capital for your commitment. Administered through AngelList's secure data room.
Operators, not passengers. LPs who participate in diligence and offer portfolio founders strategic guidance become the most valuable members of this network — and the most sought-after for co-investment opportunities.

Apply to become a Limited Partner

Review our offering materials and submit your application through AngelList's secure data room. Open to accredited investors only.

Apply via AngelList → Contact us directly

This opportunity is open only to accredited investors. By applying, you will be asked to verify your accreditation status per SEC 506(c) requirements.

State of AI Healthcare 2026
New Research · 2026

State of AI Healthcare 2026

60+ pages of proprietary research built from our actual pipeline. Valuations, vertical maps, white space analysis, and where the smart money is heading. Most emerging managers ask you to take their thesis on faith. We published ours.

Get the Report →
For Founders

Think you're building something
we haven't seen before?

We're founder-friendly — and we mean it. We respond fast, give direct feedback, and won't string you along. We've spent years mapping the early-stage AI healthcare landscape, so we can tell you quickly whether there's a fit. If your core advantage is a proprietary dataset that makes your models better over time, you're in the right place.

AI-native product US or Canada, operational Pre-seed or seed Healthcare vertical No therapeutics
Apply Here → Contact us directly