The Brief:
As the capstone project for Prof. Angela Lee’s Building an Investment Thesis course at Columbia Business School, project groups developed an investment thesis within their chosen sectors. Over the course of a month, my team wrote an investment thesis focused on hormone management across the female lifecycle using stakeholder interviews, secondary sources (Pitchbook, industry reports, etc.) and primary research on start-ups.

Within the already underinvested women’s health space (from clinical trials to venture funding allocation), a cohesive understanding of hormonal effects and imbalances has been even further disjointed and overlooked. After decades of being prescribed oral contraceptives and other Band-Aid solutions for deeper hormonal/endocrinological root causes, consumers are finally gaining greater financial and logistical access to tools such as sophisticated cycle tracking, at-home hormone testing, and menopause therapeutics. We see this investible space growing as increasingly highly educated and high-earning female consumers become more engaged and informed about their hormonal health during an era of regulatory change.

We presented an abridged version of our investment thesis below to a partner from AlleyCorp, after which we answered questions about our investment recommendations and received constructive feedback.