In this episode of Billion Dollar Moves, I sit down with David Berry, Co-Founder and Managing Partner of Averin Capital, for a conversation about building billion-dollar breakthroughs in healthcare.

David has founded more than 30 companies, including seven valued over $1B, and has helped shape companies across biotech, AI drug discovery, microbiome therapeutics, agriculture, and health infrastructure.

From losing a childhood friend to brain cancer, to asking why the hardest problems are worth pursuing, David shares how mission, science, and capital come together to create venture-scale healthcare companies.

For founders, funders, and family offices investing in the future of health, this is a conversation about conviction, ethics, and building for impact at scale.

Watch the full conversation and subscribe for more discussions at the intersection of capital, governance, and long-term wealth.

00:00 - Intro: Why go after the biggest problems?

01:12 - Truth vs. belief in science

03:00 - The myth that humans only use 10% of their brains

04:28 - Rethinking cancer and inherited assumptions

05:38 - How big ideas emerge from questioning “truth”

06:30 - Entrepreneur vs. investor: The N of one

08:10 - Building Seres Therapeutics and the microbiome frontier

11:00 - Turning strange science into a venture-scale company

12:20 - Why drug development does not always have to take 10–15 years

14:10 - Valo Health and AI-powered drug discovery

17:15 - Product-investor fit in biotech

20:30 - Why companies fail: Teams, resilience, and near-death moments

22:15 - Averin Capital and the transformation of health through technology

23:20 - BioLink and the future of continuous health monitoring

26:00 - Ozempic, access, and ethics in healthcare

31:10 - Women’s health, clinical trials, and bias in medical data

35:00 - David’s vision for Averin Capital

39:00 - How family offices should think about investing in health

40:00 - The next billion-dollar moves in healthcare

40:35 - Rapid fire

About David Berry

David is Co-Founder and Managing Partner at Averin. As an innovator and a company builder, he has been driven by the power of technology to transform industries. David has been a founder of over 30 companies, including 7 that have been valued at over $1B.

David was previously a General Partner at Flagship Pioneering. He was also founder and CEO of Valo Health, where he raised over $500M and executed a transformative partnership with Novo Nordisk.

David received his M.D. from Harvard Medical School and his Ph.D. from MIT through the biological engineering division, where he worked with Professors Robert Langer and Ram Sasisekharan. David works closely with Biolinq amongst other Averin companies.

--- Billion Dollar Moves Podcast | The Top Global Venture & Business Podcast for Founders & Funders | Backed by HubSpot Podcast Network Conversations with billionaires, unicorn founders, and the world’s leading funders. Hosted by Sarah Chen-Spellings, Billion Dollar Moves examines how enduring companies — and the capital behind them — are built. Through long-form conversations, the show explores decision-making under uncertainty, capital allocation, and the inflection points that shape category-defining businesses. From early platform backstories to allocator frameworks used across private markets, the focus is on judgment, incentives, and long-term value creation — beyond headlines and hype. New episodes weekly. Built for those who take the long view. PODCAST INFO: Podcast website: https://billiondollarmoves.com Watch on Youtube: https://tinyurl.com/sarahchenglobal Join the community: https://sarah-chen.ck.page/billiondollarmoves FOLLOW SARAH: https://linkedin.com/in/sarahchenglobal https://instagram.com/sarahchenglobal https://x.com/sarahchenglobal