Getting a VC meeting is one thing. Getting the right VC to take you seriously, lean forward, and eventually wire money? Entirely different ballgame.
Too many digital health founders get stuck in the spray-and-pray stage—blasting cold emails to generic investor lists, hoping something sticks. But smart founders treat VC selection the same way good VCs treat startups: they research hard, filter fast, and aim to build meaningful relationships.
And if you want funding from a healthcare-savvy investor? The margin for error is even slimmer.
Here’s how to find, filter, and pitch digital health VCs like a professional.
1. Stop Searching for “Healthcare VCs”
Searching Google for “healthcare investors” is like searching “music” on Spotify and hoping it plays Kendrick.
The reality: most VC firms aren’t monoliths. Inside that firm are individual partners—each with their own thesis, sector interest, and bandwidth. So if you want to raise capital, you’re not pitching “Accel” or “Sequoia” or “Andreessen.”
You’re pitching Jessica, Raj, or Daniel, who happens to work at that firm and has a thing for digital health infra.
Action Step:
Use platforms like:
- Signal (signal.nfx.com)
- Crunchbase
- AngelList
- PitchBook (if you have access)
- Twitter/X and LinkedIn
Search for individual partners who’ve:
- Written about digital health
- Invested in healthtech startups
- Spoken at health conferences
- Followed founders in your space
That’s who you want to find. Not just a logo.
2. Build a Tiered Target List
Divide your list of potential VCs into three tiers:
- Tier 1: Perfect-fit, thesis-aligned funds with prior digital health wins
- Tier 2: Adjacent funds who might stretch for a great team/vision
- Tier 3: Strategic angels or smaller firms who add credibility, even with small checks
Don’t treat all VCs equally. Prioritize Tier 1s and use Tier 3s to build momentum and social proof.
3. What Makes a Good Fit VC (It’s Not Just Money)
You want someone who:
- Understands healthcare go-to-market (it’s not B2B SaaS)
- Gets the regulatory and compliance landmines
- Has network access to hospital execs, payers, pharma, or clinicians
- Can make intros that actually go somewhere
If they’ve backed companies like Cedar, Omada, KRY, or Ada Health—take note. They likely understand the space.
Remember: a clueless VC with a big check can still sink your startup if they push for the wrong metrics, timelines, or markets.
4. Warm Intros Still Matter—But Context Wins
You know this one. Warm intros get meetings. But what gets a meaningful intro?
- Context.
- Specificity.
- Reputation transfer.
An intro from a founder they backed (and made money with)? Gold. An intro that says: “Hey, this team reminds me of our early days at One Medical. Thought it was worth a look”? 10x more powerful than “Hey can you meet my friend.”
If you have no intro path, consider engaging on their content first. Many VCs pay attention to thoughtful replies or DMs.
5. The Email That Gets Opened
No one has time for 9-paragraph essays.
Structure:
- Subject: Clear and value-driven. E.g. “Rethinking chronic care workflows in Germany – 3 min deck”
- Line 1: Personal context. (“Saw your piece on digital triage in BMJ last month.”)
- Line 2: What you’re building in plain English
- Line 3: Proof (traction, insight, or tech wedge)
- Line 4: Ask to share more, not pitch deck dump
If you include a deck, use DocSend or Notion. And name the file smartly. Not: Final_Real_InvestorDeck_UseThis_V12.pdf
6. Don’t Pitch VCs—Invite Them In
Remember: great VCs want to find great startups. You’re not begging. You’re offering them a shot to join something valuable before others notice.
If you’re pre-traction, the pitch is vision + founder-market fit. If you’re post-traction, it’s metrics + roadmap + momentum.
In either case:
- Anchor to real pain in the market
- Show early signs of demand (or obsession from users)
- Show that you know what comes next (milestones, hiring, scale)
And if you’re in digital health: speak the language of both clinicians and MBAs. You’ll be pitching to both, often in the same call.
7. Common Mistakes Mr. Kim Has Seen (and Passed On)
As someone who has seen thousands of decks in digital health, Mr. Min-Sung Sean Kim often flags the same red flags:
- “We’ll figure out regulation later” – No you won’t. You’ll figure out how to scare off every hospital and payer.
- “We’re like the Uber of mental health” – Lazy metaphors are a red flag.
- “We need $5M to build an MVP” – Unreasonable ask for your stage.
- “We’re not targeting doctors, just patients” – In digital health, these aren’t clean separations. User ≠ buyer.
Great founders pre-empt these concerns by addressing them directly in the pitch.
8. If They Ghost, Here’s Why
- They’re busy. (True)
- You’re not a fit. (Also true)
- Your deck didn’t spark conviction. (Ouch)
- They’re tracking you—but not ready to engage yet
Give them a reason to resurface:
- Monthly updates with actual movement
- A second note when you hit a major milestone
Final Word: Don’t Just Raise—Recruit
Fundraising isn’t just capital—it’s selecting partners for the next 5–10 years.
Choose like your cap table is a team, not a cash register. And pitch like you’re building something inevitable.
Need help writing that deck? Read:
- Top Pitch Mistakes Digital Health Founders Make
- Inside a VC’s Decision-Making Process
- Investor-Ready Data Room Guide
- Ultimate Guide to Raising Venture Capital
He has invested in startups including American Well, Neuronation, Mimi, and most notably mySugr – which was recently acquired by Roche. Min-Sung is also a contributing writer for mediums including TechCrunch and Tech.EU and studied Business Economics at Witten/Herdecke, Harvard, St.Gallen, and in Seoul.