Mark Young, Chief Investment Officer of Bridge Point Capital, was invited to speak to members at the Yale Fintech 2019 Forum on April 5th at the Yale Club with regards to FinTech and healthcare investing.
The Yale Fintech Forum discussed future opportunities and risks of FinTech investing. Notable attendees include executives from JP Morgan, M&T Bank, and the Federal Reserve. Managers from renowned Venture Capital funds, including Pythagoras Investment, as well as academic scholars from Yale University were also present at the forum.
During his speech, Mark Young expressed his views on the application of financial technologies in driving innovation in pharmaceutical research. Mr Young pointed out that the advent of key technologies, including AI, Blockchain and Big Data, has greatly expedited the development of biomedicine, and propelled the creation of many tech-centric bio-medicine start-ups focusing on disease diagnosis, pharmaceutical R&D and precision medicine. Using disease diagnosis as an example, Mr Young described how the application of cloud computing and artificial intelligence has made it possible for patients to consult doctors online. These technologies have improved the diagnostic rate of patients, streamlined consulting experience and elevated operational efficiency of the healthcare system, resulting in mutually beneficial outcomes for all parties. The use of blockchain also greatly enhances the protection of the patients’ privacy, another milestone brought about by the application of FinTech in healthcare.
Mr Young also analysed the similarities and differences of FinTech development between America and China. He pointed out that firms looking to tap into China’s market should not only focus on understanding China’s regulatory changes but also the different driving forces of the two markets. While America’s FinTech industry is chiefly driven by innovative disruption, the recipe for success in China is often propelled by capturing market shares and achieving economies of scale. These differences should prompt firms to adopt different strategies of operation in the two markets. On the other hand, as one of the fastest growing countries in FinTech, China’s gigantic market size also offers an enticing platform for western corporations to tap into, especially for firms which combine FinTech technologies with healthcare development.
Bridge Point Capital is a private equity firm based in New York with a focus on U.S.-China cross-border investment. We invest in disruptive late-stage healthcare companies that can benefit from penetrating the vast yet unexplored Chinese healthcare market. We aim to leverage our expertise in both healthcare and capital markets to establish a sustainable investment platform for our investors.