Ela Madej

Three years ago, we launched Wisdom Ventures with a clear intention to support founders building at the intersection of well-being, human connection, and transformative tech. Since then, we’ve made 37 investments from our oversubscribed "minimum viable" $10M Fund I, backing early-stage companies in physical and mental wellbeing, women’s health, ethical AI, and human connection-centered innovation. We’ve always known we are on to something—what we didn’t expect was how quickly the data would back it up. Recent industry benchmarks show that most 2022-vintage emerging funds are experiencing the usual J-curve dip. In contrast, Wisdom Ventures is showing strong early performance: 📈 Net IRR (internal rate of return): >10% 📊 MOIC (multiple on invested capital): ~2x* ⏰ Median investment age: 18 months 💥 ....and # of our companies have a diverse founder by gender, race, or sexual orientation: 75% As we get ready to make our 38th and final investment out of Fund I and start deploying out of our significantly larger Fund II (first close May 1st), we’re filled with gratitude—for our founders, our LPs, our early supporters, our early believers, and this growing movement toward a more conscious, connected future, fueled by innovation from the ❤️ *Based on most current reports **Not in photo: Our fantastic operating partner, Zoe Rogers #WisdomVentures #ImpactInvesting #ConsciousTech #Wellbeing #AIForGood #FutureOfWork #VentureCapital

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YC has done a good job supporting ambitious deeptech projects. Seeds sowed over many years are starting to sprout in meaningful ways. Biggest support to founders (esp those building in the physical world) isn’t money - it’s the right advice, network, and peer support.

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Greylock is leading the seed in SuperMe, the AI-native professional network. Most expertise is not yet legible to LLMs. Professionals demonstrate expertise in private contexts: product docs, meeting notes, and most often - in their own heads. SuperMe is building a way to extract and structure these insights into AI profiles, grounded in an expert's real words and personality. And it is network-first; the more conversations one's AI profile has, the more opportunities for experts to reinforce or create new insights -- expertise compounds. This is one of the strongest examples of founder-market fit we've seen at Greylock. Casey Winters is the most in-demand product & growth advisor that marketplace operators (self included) wish they could hire. And Ludo Antonov built & led engineering teams at some of the most iconic network businesses over the past decade: Whatnot, Lyft, and Pinterest (where he worked closely with Casey). The two started this company out of our offices, and have until now been quietly building a highly curated network with profiles like Elena, Lenny, Brian, etc. We see a unique opportunity to create the professional network graph in a world where likes & follower counts have lost meaning. More on our investment below:

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Two trends in fundraising that I’m seeing on a daily basis: 1/ The "we'll monetize later" era for infrastructure startups is dead "We'll figure out revenue once we have users" / "we're focused on adoption first"/ "monetization comes later" This worked in 2021. It doesn't work now. Today’s market won’t reward research organizations or companies that believe in perfection over getting it in users' hands. If you don't have a clear path to revenue… you won't get funded. period. VCs aren't writing checks hoping you'll figure it out later. 2/ "Vibe ARR" is everywhere Remember Jasper? hyper growth, but the model companies ate them alive. We're seeing this again. Companies growing really quickly on point-in-time technology that isn't defensible These companies look amazing on paper. Growth charts going up and to the right. But if you think models are getting better and becoming platform companies, many solutions become obsolete. 

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Don't Build a Better Wheat Farm" - Why Defensibility Stakes Are Higher in Deep Tech Just published a new piece on my "Ignore the Confusion" blog, building on thoughtful insights from Eric Ver Ploeg at Tunitas Ventures about startup defensibility. Eric's core thesis: Too many startups pitch like wheat farmers - "huge TAM, slow incumbents, growing market, domain expertise" - but fail to think through long-term defensibility until it's too late. From a deep tech perspective, the stakes are even higher: ** Unlike software, deep tech founders must commit to defensibility strategies from day one - their funding depends on it ** Patent vs. trade secret decisions are often difficult to reverse and shape your entire competitive strategy ** Even "picks and shovels" providers (the tools that make industries more efficient) become commodities without proper moats The key insight that resonates: Defensibility can't be retrofitted. Whether you're building software or deep tech, your moat must be architected into the business model from the start. Thanks to Eric Ver Ploeg for sharing these insights on startup strategy and letting me build on his framework from a deep tech lens. Read the full post: https://lnkd.in/dEj_iF-Q #DeepTech #StartupStrategy #Defensibility #VentureCapital #Innovation

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I’ve come to believe that early experiences carry disproportionate weight - far more than we often acknowledge. For designers and builders, “minimum viable” may suffice for validating core functionality, but it rarely earns trust or sparks genuine delight. While velocity matters, I’ve always struggled with the notion that early versions should be merely viable, especially in a world where attention is scarce and emotional resonance is everything. This extends beyond product. Do you show up as the minimum viable version of yourself in your work, your relationships, your craft? I would encourage you to challenge the conventional MVP framework. Replace it with the Minimum Awesome Product. This doesn’t mean it’s fully-featured or pixel perfect. But it should be worthy of attention. Memorable, even evocative in the way it triggered emotion. The kind of product that prompts someone to say, “I didn’t know I needed this, but now I can’t live without it.” You can refine mechanics over time, but the emotional experience of a first interaction is singular and unrecoverable. Don’t settle for viability. Build something worth remembering… and make it awesome! ❤️‍🔥

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I’m thrilled to announce defy.vc’s investment in Birches Health as part of their $20M combined Seed and Series A funding round, alongside incredible partners like AlleyCorp, General Catalyst, Will Ventures, and others. As someone deeply passionate about backing companies that tackle important problems for our society, I couldn’t be more excited about what Birches is building—a national virtual clinic dedicated to treating gambling addiction and related behavioral disorders like gaming, sex, porn, and internet addictions. What excites me most is Birches’ innovative health assurance model: proactive, accessible, and affordable care that’s evidence-based and delivered right at home. With the explosion of legal sports betting—think nearly $1.5 billion wagered on this year’s Super Bowl alone—we’re staring down a looming public health emergency. Traditional options like hotlines or generic therapy fall short for this high-acuity issue, but Birches changes that by offering specialized therapy from trained clinicians, multimodal treatment, and peer support, all covered by major insurers like United Healthcare, Cigna, Aetna, and Blue Cross Blue Shield. It’s available in all 50 states, breaking down geographical and financial barriers that have left so many without help. The impact is already profound: 96% of patients report an improved quality of life, and 94% give Birches a 5/5 rating. By partnering with state governments, payors, and policymakers, Birches is pushing gambling addiction into the spotlight of behavioral health conversations, where it’s been neglected for too long—often leading to shame, worsened outcomes, and higher suicidality risks. This funding will supercharge their growth: expanding the provider network, boosting clinical excellence, scaling infrastructure, and deepening insurance and state partnerships to meet surging demand. Very excited to partner with Elliott Rapaport and the entire Birches team! See more about our POV in the blog post linked in the comments. #GamblingAddiction #BehavioralHealth #HealthTech #VentureCapital #Innovation

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