Bold Brain Ventures brings together radiologists, innovators, and capital in a collaborative approach to AI
November 21, 2018
Pittsburgh, PA, November 24, 2018 – Bold Brain Ventures is a new investment fund with a focus on artificial intelligence in radiology. The fund opened for investment in October 2018 under the managing partnership of Robin Prasad, MD, MS, MBA and Tomislav Deur, MD. Bold Brain Ventures brings together radiologists, innovators, and capital in a collaborative approach to AI. Radiologists and others can invest in a portfolio of companies with AI solutions in radiology.
Bold Brain Ventures is the first and only fund to focus specifically on this sector with radiologists as the key investors, managers, and advisors. Bold Brain Ventures also aims to connect radiologists with growing AI startups, who are seeking expertise in areas such as product/market fit or guidance in navigating complex healthcare environments. High net-worth individuals, angel investors, financial institutions, and venture capitalists can also invest.
The fund includes experienced advisors across radiology, artificial intelligence, and investment sectors: Paul Berger, MD, Founder of NightHawk Radiology Services; Yvonne W. Lui, MD, Associate Chair of Artificial Intelligence in NYU Langone’s Department of Radiology; Joe Marks, PhD, Executive Director of the CMU Center for Machine Learning and Health; Kelly Szejko, President of the Pittsburgh Venture Capital Association; Mark Weiss, MD, President of Radiology Business Solutions.
Fund manager and practicing radiologist Dr. Tomislav Deur says, “Engaging radiologists in AI is essential. It is crucial that radiologists are involved in the responsible development and adoption of new technologies. Machine learning algorithms have the potential to improve patient care and the healthcare system. Radiologists and others may also want to explore investing in radiology AI for both personal and professional reasons.”
Co-founder and fund manager Dr. Robin Prasad, also a radiologist, says, “AI is taking off at an explosive rate in our society, and radiology is at the leading edge of this growth. It is incredible for radiologists to be able to invest in their own domain of expertise and help pioneer these advancements. That is why we started Bold Brain Ventures.”
According to AuntMinnie.com, the world market for AI and machine learning in medical imaging is forecast to grow to over $2B by 2023. There are hundreds of AI companies, many of which are developing products and algorithms with the goals of advancing radiology and patient care.
The fund’s strategy is to invest in a variety of AI companies with radiology solutions in order to create diversified access to this sector. The managing partners believe that investing in a diverse portfolio is more likely to yield profitable outcomes and be less risky than investing in a single venture. Bold Brain Ventures is targeting a $25MM fund size with a first close of $1MM and a maximum size of $100MM. The fund is capped at 99 investors per SEC regulations. Those who are interested in investing can register for free on a secure online portal at www.boldbrainventures.com to view potential opportunities and track investments.
Dr. Deur says, “Physicians would be wise to consider how they can help proactively advance AI in medicine and involve themselves in this changing landscape.”
Dr. Prasad continues, “The future is here...now is the right time to immerse yourself in AI.”
Bold Brain Ventures was formed in Pittsburgh, Pennsylvania. The fund opened for investment in October 2018. It is a Rule 506(c) offering under Regulation D of the SEC. The founders and Managing Partners of the company are Tomislav Deur, MD and Robin Prasad, MD, MS, MBA. Dr. Deur and Dr. Prasad are board-certified practicing radiologists with investment expertise. They have a 20-year history of working together successfully in the healthcare field and other endeavors. Paige Creo, MBA is the Vice President of Strategy & Marketing. She has 8+ years of marketing and strategy experience, and she has been working with Bold Brain Ventures since the inception of the company.
Bold Brain Ventures will be exhibiting for the first time at Booth 6072 in the Machine Learning Showcase at the RSNA 2018 Annual Meeting Conference.