Devon George (B’01)
Co-Founder and Board Member, Georgetown Angel Investor Network
As an original founder of GAIN, why was creating GAIN important to you?
The establishment of GAIN was fueled by three significant motivators for me. First and foremost, my personal connections to Georgetown University, particularly through my wife, Amanda Thorn, a fellow alumna from the class of 2001, have greatly influenced my commitment to the institution.
Second, my initial experience with a startup exposed me to a diverse network of Georgetown alumni active within the venture ecosystem. Over time, our interconnected community of alumni investors grew to such an extent that formal organization became a necessity.
Third, the creation of GAIN provided an essential platform to bolster the next generation of Georgetown entrepreneurs and investors. This initiative enables us to aid one another in navigating the intricate and often challenging fundraising landscape, in the absence of readily available support. The goal is to cultivate a robust network of Hoyas helping Hoyas, fostering a cycle of mutual assistance and success in the entrepreneurial sphere.
How does GAIN fit into your wider investment strategy?
My family office's investment strategy is guided by a core thesis: the cultivation of knowledge and network development as essential, long-term value drivers. In this context, GAIN plays a vital role. The platform offers me early-stage private equity deal flow, deeply rooted in an affinity that mirrors our personal beliefs and shared experiences. This not only allows me to expand our connections and knowledge but also aligns with our investment return objectives by providing diversification within, and into, this asset class.
Remarkably, there are few opportunities where a $25,000 investment can create such a significant impact on personal development, while concurrently offering substantial potential for high financial returns. This unique aspect underscores GAIN's exceptional role within our investment strategy. I am convinced of its value and believe it can similarly enrich other investors' strategies.
What value does GAIN deliver for you as an investor and an alumnus?
I devote considerable time and resources, commensurate with our means, to causes I believe in. It's rare to find initiatives that offer both a potential for clear, direct, and enduring societal impact, while simultaneously providing me with financial sustainability. It’s akin to possessing a highly remunerative job that also contributes meaningfully to the world.
Too often roles that significantly benefit society and its communities, such as primary caregivers and teachers amongst so many others, are inadequately compensated relative to the value they deliver. This observation is particularly poignant for me as a parent. However, my involvement with GAIN, through investing and volunteering, uniquely reconciles these aspects in my life. It allows me, as an investor and alum, to have both potentially significant financial gains whilst supporting an immeasurably impactful cause about which I am passionate.
As an angel investor, what areas/sectors excite you most right now?
Artificial Intelligence (AI) and Healthcare Technology constitute the focal points of our investment strategy. I have long maintained a strong interest in these sectors, buoyed by our conviction that they hold immense potential for transformation in the coming decade.
Artificial Intelligence, a rapidly advancing field, has begun permeating a wide range of industries, fundamentally altering their operation and potential. Its application in healthcare, in particular, has been revolutionary. From improving diagnostics and treatment plans with machine learning algorithms to creating personalized medicine based on individual genetic profiles, AI stands to reshape the entire healthcare landscape.
Furthermore, advancements in healthcare technology are not solely confined to the incorporation of AI. The sector is witnessing a surge in innovations like telemedicine, wearable health monitoring devices, advanced medical imaging, and gene editing techniques. These technologies promise to significantly enhance patient care, optimize health outcomes, and potentially extend human lifespan.
I firmly believe that the next decade will witness profound changes in the way people live, fueled by these advancements. Our hope is that these changes will largely skew towards the betterment of humanity. The potential for improving patient outcomes, personalizing medicine, reducing healthcare costs, and increasing the overall quality of life is immense, hence our continued investment in these crucial areas.
As an angel investor, what is most important to you when evaluating a company?
For me, the key factors in assessing a company can vary significantly, depending on the specific company and its stage of development. These factors range from the founder and team composition, the stage of product-market fit, the product strategy, existing customer engagement, market awareness, financial management capacity, to operational experience, among others.
However, two elements particularly stand out as early indicators of potential success. First, the clarity and detail of a company's financial strategy, including fundraising, are pivotal. It gives insights into the strategic thinking, planning capabilities, and foresight of the management team.
Second, the company's active collaboration with external entities, such as advisors, existing investors, peers, and potentially co-founders, is a telling sign. These partnerships often act as catalysts in propelling the company to its next phase of growth. The lack of effective leverage of such an existing network can indicate that the company may be overlooking readily available assets and value. In other words, they could be missing out on resources that could help fuel their growth and evolution.