E178: Elon Musk of Biotech: How David Berry Built 7 Unicorns

Jun 23, 2025

David Berry, a powerhouse in biotech and co-founder of Averin, dives into his journey from scientist to investor. He shares insights on scaling health companies, emphasizing the importance of culture and perseverance. Berry explains how to spot the potential for unicorns in their early stages and what makes a great founding team. He delves into the transformative promise of AI in healthcare and the future of personalized medicine, particularly in tackling Alzheimer's. Discover the secrets behind his success and the role of innovation in healthcare.

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ANECDOTE

Berry's Big Problem Drive

David Berry pursued big healthcare problems driven by personal stories of loss and helplessness.
He combined asking bold questions with perseverance to found over 30 companies, including seven unicorns.

ADVICE

Pivot on Kernels of Truth

Focus on uncovering the "kernel of truth" that can pivot your startup successfully.
Use early unexpected signals in about 9-12 months to adjust strategy and steer your company right.

ADVICE

Manage Change with Strategy Teams

Establish a dedicated strategy team to rigorously analyze new data before pivoting.
Communicate pivot or stay-the-course decisions clearly to avoid distracting or whipsawing your team.

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David Berry is one of the most prolific healthcare entrepreneurs of our time. In this episode, we discuss his transition from scientist to founder to investor, what it takes to scale transformational health companies, and how his firm Averin is helping usher in the next wave of AI-enabled healthcare. We also talk about his early experience launching a satellite at 14, how he's co-founded over 30 companies—including seven unicorns—and why patents, perseverance, and purpose are the trifecta behind lasting innovation.

Highlights:

“The Elon Musk of Biotech?” Why Sorov called David that—and how David approaches world-changing problems
From 0 to 7 Unicorns: What David looks for in the first year of a company that signals long-term greatness
Pivots vs. Distractions: How to recognize the “kernel of truth” that transforms strategy
The Power of Culture: Why early-stage hiring is make-or-break—and how his brother built an elite culture at TripleLift
Replacing Founders Is Overrated: How world-class companies scale with visionary founders still at the helm
Extreme Passion: The real signal that a team will stay late, even without being told
The Investor’s Edge: Why early and mid-stage inflection points are where true multiples are made
Averin Capital: His new firm focused on tech-driven health companies in the underserved growth stage
The Coming Wave in Alzheimer’s: Why he believes personalized medicine will finally unlock real progress
Product-Market Fit in Biotech? Why 60% of approved drugs still lose money—and how to avoid those pitfalls

-- Guest Bio: David Berry is the Managing Partner and co-founder of Averin, a Boston-based investment firm focused on helping build the next generation of great technology-powered healthcare companies. Prior to Averin, he was a General Partner at Flagship Pioneering, where he co-founded over 30 ventures across life sciences and sustainability—including seven that became unicorns. He holds an M.D. from Harvard Medical School, a Ph.D. in Biological Engineering from MIT, and a B.S. in Brain and Cognitive Sciences from MIT. David is also the recipient of numerous honors, including MIT Technology Review’s Innovator of the Year and World Economic Forum Young Global Leader. He is the inventor on over 200 patents and helped launch a satellite at age 14.

Our Podcast now receives more than 300,000 downloads a month. Are you interested in sponsoring an episode? Please email David Weisburd at david@weisburdcapital.com.

#venturecapital #vc #startupsuccess #biotech #assetmanagement

-- Stay Connected: Twitter/X: David Weisburd: @dweisburd

LinkedIn: David Weisburd: https://www.linkedin.com/in/dweisburd/ David Berry: https://www.linkedin.com/in/davidberrymdphd/

Links Averin: https://www.averincapital.com/

-- Questions or topics you want us to discuss on How I Invest? Email us at david@weisburdcapital.com.

(0:00) Episode preview (3:21) Drive, perseverance, and strategic pivots in entrepreneurship (7:25) Company culture and founder roles during growth and scaling (15:09) Identifying entrepreneurial superpowers and inner circle support (17:23) Transitioning from entrepreneur to investor principles (21:29) Growth investing strategies and investor-management alignment (25:43) Navigating biotech's business and financial challenges (32:36) Skill stacking and venture capital dynamics in biotech (37:30) Closing remarks