In this episode, Sharon is joined by Erin Lambroza, Vice President of L Catterton, a consumer-focused private equity firm. Erin holds Director roles on the boards of Alice Mushrooms—a functional health supplement business pairing chocolate with the power of adaptogens from legal mushrooms; an unannounced beauty and wellness platform providing solutions to women who are navigating menopause; and Yummers, a pet food company founded by “Queer Eye” stars Jonathan Van Ness and Antoni Porowski alongside the former CMO of Petco.

In this conversation, Erin and Sharon discuss what makes a women's health company fundable and how to navigate the challenges in this space. Erin brings her extensive experience in early-stage investments with a focus on health and wellness to provide invaluable advice for founders and investors alike.

Erin emphasizes that the success of a women’s health startup relies on the same factors as any other sector: a growing market, scalable growth, and demonstrated product-market fit. She highlights the importance of understanding unit economics, ensuring that the business model is sustainable and profitable, especially after the first year in the market. The conversation also touches on the historical challenges in women’s health, such as underinvestment and the lack of viable exit paths, which make fundraising particularly difficult. Erin notes that overcoming these obstacles requires innovation at the research level to build a foundation for profitable businesses.

The episode delves into the historical context of women's health, revealing that women were excluded from clinical trials until 1993, resulting in a significant lack of comprehensive data and chronic underrepresentation in healthcare research. Erin also discusses the origins of the word "hysteria" and its longstanding impact on the perception of women's health issues. This historical lens underscores the need for deliberate and targeted innovation in areas such as autoimmune diseases, Alzheimer's, and cardiovascular disease, which disproportionately affect women.

Erin offers practical advice for founders, emphasizing the importance of surrounding oneself with the right people who genuinely support the mission, being receptive to investor feedback while synthesizing advice from multiple sources, and seeking strategic, active capital rather than passive investment. Her insights provide a roadmap for founders looking to make a meaningful impact in women’s health.

Episode Outline

(01:56) What Makes a Women's Health Business Fundable?

(04:49) The Audacity of Profit

(08:53) Beyond Bikini Medicine: Addressing Innovation in Women’s Health

(12:06) You Are Not Alone: Common Challenges All Startup Founders Face

Connect with Sharon

Connect with Sharon on LinkedIn: Sharon Kedar
Learn more about Innovate and Elevate innovateandelevatepodcast.com
Subscribe to Innovate and Elevate on YouTube
Join the newsletter to receive the latest episodes in your inbox: Innovate and Elevate Newsletter

Connect with Erin Lambroza

Follow Erin Lambroza on LinkedIn
Learn more about L Catterton
Learn more about Alice Mushrooms

Additional Resources

This podcast is produced by the women at The Wave Editing