AUSTIN, Texas--(BUSINESS WIRE)--NEXT VENTŪRESTM, a venture capital firm focused on the exploding health, wellness, fitness, and nutrition markets, today announced the addition of Elizabeth Weil as an advisory board member. Weil brings more than a decade of investing experience, having worked with some of Silicon Valley’s most successful venture capital firms, including Andreessen Horowitz (a16z), Institutional Venture Partners, Menlo Ventures and 137 Ventures. NEXT VENTŪRES, founded by Lance Armstrong and Lionel Conacher, selects its advisory board members based on their domain expertise in the sports, fitness, wellness and nutrition markets, their proven business acumen, and their industry connections.
“It would be hard to find a venture firm that can compete with NEXT VENTŪRES’ wellness and sports knowledge and network, and we wanted to balance that depth of expertise with a new advisory board member who has proven venture success and strong leadership skills,” said Mel Strong managing partner at NEXT VENTŪRES. “For us, the perfect person had to be more than a successful venture capitalist, they had to have a strong passion for health, sports, and wellness that defines the way they live their life. Elizabeth is an ultramarathoner who has run more than 60 marathons, and we know she will bring that same intense energy and determination to the NEXT VENTŪRES partnership and our portfolio.”
Weil is also a well-respected investor, having provided financing and support to dozens of Silicon Valley’s notable start-ups, including Slack, Gusto, SpaceX, and HipCamp. Her investing success is built on her belief that smart investing is about more than assessing the financial potential of a new company; a critical component is taking the time to analyze the start-up’s talent and team dynamics as she believes these are core components of a successful start-up.
“We know that finding start-ups that address a large market, with the right product at the right time are time-tested ingredients for impressive investment outcomes. But the importance of accurately assessing the hunger and determination of the early team is too frequently under-estimated,” said Weil. “As an ultramarathoner I know that having the resilience to push through boundaries and overcome hurdles is critical to achieving success. That’s what I look for in start-ups and this philosophy has resulted in excellent investment returns.”
Beyond investing, Weil has experience in leveraging broader innovation and financial ecosystems to help accelerate growth for start-ups. At Andreessen Horowitz, she led the Market Development team which was responsible for connecting the portfolio companies to the executives at Fortune 500/Global 2000 companies to drive business development and revenue opportunities.
“Demand for innovative healthcare and wellness solutions is exploding as individuals of all ages are looking to take ownership of their health and wellness instead of relying on problematic healthcare systems. NEXT VENTŪRES is designed to take advantage of this major global trend,” commented Armstrong, managing partner at NEXT VENTŪRES. “Elizabeth is a perfect fit for us, combining her impressive venture capital experience with her passion for wellness and fitness. She will be a valuable contributor to our process for identifying start-ups that have the potential to create exciting new products in the health and wellness space that can achieve rapid revenue growth. Her market development experience will also help us create important business development opportunities for our portfolio companies.”
NEXT VENTŪRES invests in late seed, Series A and B stage start-ups that have a revenue-producing product or service that can optimize human performance from the elite athlete to the weekend warrior and also has the potential to translate to the general population. Its advisory board provides a deep-bench of sports and marketing contacts and knowledge based on past executive positions with leading sports brands, as well as personal athletic accomplishments, including a member of the Hockey Hall of Fame, a three-time Olympian and World Championships medalist, and a retired U.S. Navy Seal.
About NEXT VENTŪRES
NEXT VENTŪRES is an Austin-based venture capital firm investing in innovative health, sports and wellness companies. NEXT VENTŪRES’ team and advisory board leverage their collective domain expertise to identify products, technologies, and services that help both elite and everyday athletes perform better and lead healthier lives. We work closely with our companies to drive strategic direction and scale, bringing decades of experience to each team across the pro sports, medicine, health tech, military, and marketing sectors. Beyond delivering significant growth and value, NEXT VENTŪRES’ mission is to expand health and wellness options for every consumer and community around the world. For more information visit: www.nextventures.com.
