nick travers
vice president, private equity
chase field llc

Nick Travers is an investor based in Austin, TX.  He grew up in Princeton, NJ, and was an investor and employee at Bai Brands, a beverage company that was acquired by Dr. Pepper Snapple Group in 2017.  He is a shareholder in three amazing medtech companies: Alio Medical, Discure, and Medality Medical.  Nick is excited about the future, and hungry to learn.
 
HTA - Tell us about your personal and professional background?
 
When I was younger, I genuinely wanted to do all the things you're supposed to do...go to a good college, get a degree, get a stable, salaried job.  And I sure did try...but it didn't work out like that!  I did a variety of different jobs and found my way into angel investing mostly by luck!
 
HTA - Who were your early mentors, and how did they impact your career?
 
I learned a lot by watching and listening to the Ben Weiss and the executive team at Bai Brands, where I used to work.  They were nimble and knew how to hustle.  Ben innovated aggressively, and brought that innovation to market cautiously.
 
HTA - What surprises you about the Healthcare Industry?
 
I'm surprised by how much potentially world-changing innovation is going on.  I know people who are working on an artificial pancreas that is placed in the thigh.  I know a guy with a plan to kill tumors by injecting microscopic metal beads.  There are people trying to 3D print organs in low earth orbit.  It all makes me wish I had a lot more money to invest!
 
HTA - You relocated to Austin from New Jersey in 2017. Can you share some details about that decision?
 
New Jersey was the Silicon Valley of the late 19th / early 20th century, when Edison, Roebling, and von Neumann were changing the world.  But when Princeton graduate Jeff Bezos wanted to start a business in the 1990s, he correctly realized that the essential first step was to move far, far away from New Jersey.  The taxes are ferocious, and so are the winters!
 
HTA - How has due diligence changed during in this investment cycle?
 
We need to see a shorter path to cashflow positive.
 
HTA - What specific criteria do you look for when evaluating healthcare startups for potential investment?
 
We look for a company that is trying to build something relative unlike any other product on the market.  We want to see products that will define a new category.  One other thing: we want to see founders and CEOs with strong communication skills.  More important than you think!
 
HTA - Could you share a recent success story or example of a healthcare startup you've invested in and how it has made an impact in the industry?
 
Earlier this year, Alio Medical got approved by the FDA as the first and only company that can remotely, non-invasively measure potassium in the blood.  This is huge for dialysis patients and their doctors who have an urgent need for better visibility into electrolytes.
 
HTA - How do you envision healthcare changing in the next 5-10 years?
 
I am closely following the "Ozempic Revolution."  Pharmaceutical interventions to reverse obesity are going to get better and better.  Wouldn't it be great if we could stop the obesity epidemic dead in its tracks?
 
HTA - How do you feel Artificial Intelligence will transform the practice of medicine?
 
15 years ago, Google knew with a high degree of accuracy if a woman was pregnant, even before she realized it, based on her searches and demographics.  Soon chatbots could provide a more comprehensive, more customized version of this.  What if our doctor prescribed us a personalized chatbot?  They might say "Tell your chatbot everything you eat for the next week, link it to your smart scale, your Apple Watch, and your Oura ring, and then come in for a follow-up appointment."
 
HTA - Can you give us your favorite “Life Lesson Quote”? Can you share how that has been relevant to you in your life?
 
"The fear of the Lord is the beginning of wisdom."  We all benefit from a healthy awe of the created world.  We make serious mistakes when we get overconfident.  If I fear the Lord, maybe I don't need to be as afraid of other things.
 
HTA - How do you continue to learn? What are you reading?
 
I liked The TB12 Method by Tom Brady.  Empire of Pain by Patrick Radden Keefe was a great book about the opioid epidemic...which continues to rage out of control.  I liked The Obesity Code and The Diabetes Code by Dr. Jason Fung.