Inside the Deal: Healthcare VCs to Watch with David Kereiakes – Investing in Healthcare Resilience & Innovation
Welcome to Inside the Deal: Healthcare VCs to Watch, a video series spotlighting investors who are shaping the future of healthcare. In this episode, David Kereiakes — Managing Partner at Windham Capital — joins Carrie Nixon for a candid conversation about what it really takes to build durable companies in a constantly shifting healthcare landscape.
From his days at Providence Ventures to leading $350M+ in healthcare investments, David discusses how to evaluate partnerships, give and receive tough feedback, and invest with purpose through cycles of disruption and change.
Timestamps
0:00 – Meet David Kereiakes of Windham Capital
Carrie introduces David and Windham’s mission to back resilient healthcare companies.
1:30 – What Drew Him to Healthcare Investing
David shares how his personal experiences shaped a purpose-driven investment philosophy.
4:00 – Lessons from Providence Ventures
Inside the early days of corporate venture and what it taught him about aligning incentives.
7:15 – Innovation Inside Large Health Systems
How founders can navigate complex stakeholders and find champions who drive adoption.
10:45 – Building Trust with Founders
Why transparency and empathy are more valuable than valuation in the long run.
14:00 – Delivering Hard Feedback
David reflects on a deal that almost fell apart—and how directness rebuilt trust.
18:30 – Fit Over Flash
Why investor–founder alignment matters more than headline numbers.
22:00 – The Med Device + Digital Health Convergence
How Windham sees opportunity in platforms bridging physical and digital care.
26:00 – Resilience as a Competitive Advantage
Why the strongest companies thrive through market corrections and uncertainty.
30:00 – The Future of Healthcare Venture
David shares his outlook on where innovation and impact meet over the next decade.
Quotes from David
“Trust is the currency of healthcare venture.”
David emphasizes that strong partnerships outlast market cycles.“Resilience doesn’t mean avoiding failure—it means learning faster than everyone else.”
Founders who endure the tough moments are the ones who win long-term.“Transparency builds speed.”
The best relationships—founder, investor, or partner—move faster when everyone’s honest.
Featured Q&A
How did your time at Providence Ventures shape your view of healthcare innovation?
It grounded me in operational reality. Working inside a large health system showed me how difficult true adoption can be—and why empathy for the buyer matters just as much as enthusiasm for the tech.
What do you think founders underestimate most when raising capital?
The power of fit. The best outcomes come when investors and founders share values, not just valuation targets. Capital’s replaceable—trust isn’t.
You’ve talked about “delivering hard feedback” as part of the job. How do you approach that?
With respect and intention. It’s easy to say “no” fast—but much harder to give feedback that actually helps a founder grow. You owe them that if you care about the relationship.
What separates great founders in healthcare from the rest?
Humility and adaptability. The best founders listen deeply, iterate fast, and keep showing up. They’re mission-driven, but flexible on how they get there.
Where do you see the next wave of healthcare innovation?
At the intersection of digital and physical—where technology augments care, not replaces it. The winners will be the ones that make the healthcare experience simpler for clinicians and patients alike.
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