Norwest Venture Partners

Overview

• Stage focus: Series A sweet spot, selectively earlier (did $1M pre-seed recently)
• Check size: Flexible — can do seed-sized deals
• Healthcare thesis: Has dedicated healthcare team members. Bayan is cross-sector at seed.
• Key people: Bayan Alizadeh (seed, cross-sector, physics background)

Relationship History

Status

• Current stage: Materials review → internal socialization
• Next step: Send deck + demo video. Bayan takes first pass, then healthcare team weighs in.
• Temperature: Warm (engaged, asked good questions, clear process)

What They Care About

• Product depth — Bayan is "very product-focused when making investments"
• Healthcare team buy-in required for sector conviction
• Technical confidence (EHR integration specifics landed well)
• Seeing the actual product working

Concerns to Address

• Demo not working was a miss — He explicitly said product demo is important for him. Must send strong demo video.
• Contract structure still TBD
• Series A is their sweet spot — need to be compelling enough for them to go earlier

Materials Sent

• Deck (committed to sending)
• Demo video (committed to sending)

Notes

• Bayan has physics background, uses Claude for his own VC workflow (data room analysis). Technically curious. Connected with Michael on product-first thinking.
• The real gate is the healthcare-focused team members — Bayan is the entry but healthcare team makes the sector call.
• Large fund doing selective earlier deals — could be a strong signal if they commit. NVP brand matters.
• Short but efficient call. Process is clear. Needs materials to advance.