Transition into venture investing

In this episode of the podcast we sit down with Claire Smith, Partner at SpringTide. She reflects on her journey from a biological engineering student at MIT to her current role in venture capital, and the key lessons she’s learned along the way. Claire explains SpringTide’s investment scope, introduces companies from her portfolio, and shares what drives her investment decisions. The conversation also explores the current landscape of TechBio and AI, including how to distinguish genuine innovation from hype, how pharma is realistically adopting AI, and differences in East Coast and West Coast perspectives on the technology. 

Claire provides guidance for early-stage founders navigating today’s ever-changing environment. She discusses the importance of planning realistic timelines, how and when to launch a company, and what qualities investors are looking for. She advises on what makes a great pitch, arguing that the goal of the initial meeting is not to secure funding, but to earn a second conversation. Trust is built through preparation, authenticity, and intellectual honesty, never by faking it in biotech. 

Books mentioned: 

• The Pyramid Principle by Barbara Minto
• Why Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein

Time Stamps:

0:01:20 Introduction to Claire’s  journey from MIT biological engineering to SpringTide

0:05:44 There’s “no overnight successes” in biotech

0:06:47 Claire’s experience as a start up operator at Crestovo and the key lessons she learned

0:09:35  Explanation of the investment  scope of Springtide 

0:12:31 How Claire assesses risk when building an investment portfolio 

0:14:47 Things to consider when evaluating technical founders

0:15:55 Introduction to Paterna Biosciences and their impact within the fertility space  

0:19:27 Platforms vs assets in tough capital markets and why Springtide has a countercyclical platform focus

0:22:50 Meaning of “look boring today, but will be infrastructure tomorrow”

0:24:24 Advancements in Palantir‑style business models for pharma

0:28:42 What does the term “TechBio” means to Claire

0:30:39 How the pharma industry is currently leveraging AI 

0:33:55 Markers of AI success to keep an eye out for

0:35:29 How to identify companies that are driving genuine AI innovation

0:37:50 Example of Niche Bio and how they’re generating data for machine learning

0:39:22 Differences in opinions between East Coast and West Coast investors on AI

0:42:16 Advice for companies navigating the current capital market

0:44:16 Why proactive buffer planning is critical when setting a timeline

0:45:36 Advice for early stage founders on how and when to launch their company 

0:50:59 What sets a great pitch apart 

0:55:00 Explanation of the Pyramid Principle by Barbara Minto

0:55:44 3 main points about SpringTide as an investment firm

0:58:28 Importance of forming authentic connections but don’t “fake it ‘til you make it” 

1:01:22 Quick-fire questions