Local Company Opens Venture Capital Possibilities to New Investors
Photo by Mammoth Research
An Interview with Tommy Martin, CEO and Operations Manager, Mammoth Research
By leveraging local and national resources, connections with world-class physicians, and its own propriety technology, Mammoth Research has launched highly successful venture capital funds. In so doing, Mammoth Research has opened venture capital investment opportunities to people who have never had access to this kind of investment tool in the past, propelling risk-takers, game-changers and innovators in the process.
THE NIIC: What problem was your company formed to solve?
Tommy Martin: At Mammoth Research, we were aware that traditional financial firms didn’t have access to healthcare venture capital investing for their clients. We wanted to change that. Typically, the only people who invest in venture capital are in the ultra-high net worth category. We wanted to make that opportunity accessible to others, so we decided to simplify the process through innovative technology and our due diligence for people who had never been able to access it before.
Today, that dream is a reality, one that reaches beyond the healthcare spectrum and is available to financial firms all over the country.
THE NIIC: What triggered the launch of your business?
Tommy Martin: We launched Mammoth Research in early 2021. Like so many people, the pandemic gave our team the nudge to dream about what we most wanted to spend our time on. That team is composed of people with whom I had great relationships, but who had never worked together formally before. I was able to approach them and say, “This is what I’ve been thinking about.” The timing was really right.
Since we had access to world-class physicians, one in cardiology and one in the musculoskeletal field, we were initially dreaming about a healthcare venture capital fund. These partners are world leaders in their specialties, and we knew there was a need for a strong healthcare venture capital fund to support them. We began to ask ourselves, “Where would the capital come from?” We knew that a lot of people would love to invest in venture capital, so we decided to work with firms to open up this access. We were able to bring all those factors together and launch Mammoth Research last year.
THE NIIC: How does it work?
Tommy Martin: Mammoth Research offers a healthcare venture capital fund that invests in great medical companies, ones that have moved beyond ideas and into execution. As part of that process, we created a proprietary technology software engine to support that fund. This technology automates the investment experience and allows us to scale up.
This technology allows us to attract non-traditional venture capital investors, such as hospital executives and doctors. Having great investors who are on the ground, so to speak, helps validate product market fit. We take innovative ideas to our network of investors and make sure that the ideas are usable in their day-to-day lives.
THE NIIC: How has Mammoth Research leveraged the services of The NIIC?
Tommy Martin: The NIIC has been a great part of our story. I helped launch a business out of The NIIC almost 20 years ago. Back in 2008, I launched a financial services company that was ranked one of the fastest growing financial services. After I sold my share in the business, I was still connected with team members all over the country. I had already experienced success at The NIIC and wanted Mammoth Research to be right at the center of healthcare innovation at The NIIC.
We have worked together with The NIIC in several ways. Naturally, I wanted to explore the possibility of providing capital as part of the work The NIIC is leveraging at The Connected Health Lab. I knew those connections at The NIIC would tie us to both the local medical community and the economic development community, which has connected us with local investors.
In addition, The NIIC has done a tremendous job of getting our story out there. In turn, we have been investing back into The NIIC. Erin Heck, our chief legal officer, has been volunteering her time to support female founders through The NIIC’s WEOC Women’s Business Center. We have also served as a resource to other clients at The NIIC, speaking with entrepreneurs to help them understand the process of funding their business.
THE NIIC: What’s on the horizon for your company?
Tommy Martin: We will continue to make investments through our healthcare fund, Mammoth Health & Tech Fund 1. While we are still in the capital raising function, our investments have achieved milestone FDA regulatory approvals, which is not only a huge win for our investors but also speaks volumes about the value of our funds.
We have also made our propriety private investing platform available for other private funds. Now, private capital, real estate, or private equity funds can white label or license our technology, harnessing this powerful tool for their own funds. That’s important, because the regulatory environment for anyone trying to raise money is intense. Traditionally, this has been an onerous process, but our platform allows funds to navigate this environment through client-centric, compliance-friendly technology, alleviating the pressure to become experts in regulatory requirements. This means that these funds can focus on what they do best.
THE NIIC: What’s one thing people should know about Mammoth Research right now?
Tommy Martin: We are the largest venture capital investment fund in Northeast Indiana. It’s been really exciting for us to work with economic development partners in Allen and Kosciusko Counties. One of our goals is to connect and coordinate with healthcare players who are already here, such as Micropulse, Inc. and Fort Wayne Metals. We hope to continue to support these wonderful local players in the healthcare space.