The locals revolutionising medical tech investments right here in the Southern Highlands
What happens when a group of local friends and colleagues [who also happen to be leading experts in science, technology, medicine, business, and finance] get together?
You get the incredible local venture capital firm, SoHi Partners, that’s what!
We recently caught up with some of the team, including Mr John Bullwinkel, Mr Andrew Speers, Dr Ashish Diwan, and Dr Nicholas Hartnell, to learn about how they got started and the impressive success SoHi Partners has already achieved.
Check out our chat below!
1 // First let’s start with exactly how SoHi Partners began.
Dr. Ashish Diwan: Well, Nick and I are both surgeons and had been talking for years about innovation in the medical field and how difficult it is to secure funding for new ideas.
During the Covid-19 lockdowns, we had more time on our hands, and that gave us the space to really think about how we could address some of the challenges in the medical technology space, especially in public health.
Dr. Nicholas Hartnell: Exactly. We knew there was a real opportunity to do something different. The Southern Highlands is full of smart people, not just in the medical field but across various industries. We love living here, and we thought, why not create something that taps into all this local talent while addressing global medical needs?
2 // How did the rest of the team come together?
Mr. John Bullwinkel: Well, I had been talking to Nick about my own knee issues, and he mentioned how he was looking for capital for some of his projects. That’s when we started discussing the challenges Ashish had identified. Then, Andrew, who’s my neighbour, and John Burton, who’s also local, were brought into the conversation. The combination of location and experience is what made it all click.
Mr. Andrew Speers: I was semi-retired at the time, but John tapped me on the shoulder and said, “Give the gardening a rest and come help with this.” I’m glad he did because it’s been an amazing journey so far.
Q: It sounds like you all bring something different to the table. Can you tell us about the unique way So Hi Partners approaches medical technology investment?
Ashish: What sets us apart is that we have medical professionals directly involved in the process. Before any idea reaches the finance side, it’s reviewed by our medical advisory panel. We look at it from a scientific perspective, a regulatory standpoint, and whether it will work for clinicians and patients in the real world.
John: That’s right. We’re not just a group of finance people making decisions about medical technology. We have in-house expertise, with Nick and Ashish bringing invaluable insights from the medical field. It’s a blend of insider knowledge from both the medical and financial worlds that makes us different.
3 // So you’re making sure the ideas you back are not just financially sound, but also practical and effective in the real world.
Andrew: Absolutely. For us, it’s not just about looking at the financials. We go through a thorough medical review first. We make sure that the idea is scientifically sound and that it has a real-world application before considering it from a financial perspective. Once we know it’s solid on the medical side, we assess whether it has the potential to succeed in the market.
Nicholas: And that’s how we ensure that the ventures we invest in aren’t just profitable, but will also have a positive impact on people’s lives.
4 // Amazing! And how has the response been so far?
Ashish: We’ve had an incredible response. Between March and September this year, we’ve had almost 85 companies reach out to us for investment. That shows there’s a real demand for this kind of approach to funding in the medical field.
Andrew: We’re also seeing success in our investment banking arm. We’ve closed five live deals in the last month alone. There’s definitely a need out there, and we’re here to fill that gap.
5 // Can you tell us more about your vision for the Southern Highlands?
John: We want to bring high-paying jobs to the region. The Southern Highlands has so much potential, and we want to attract investors who see the value in building a long-term, diverse job base here.
Andrew: Exactly. We’ve already brought in two local graduates as interns, and we’re looking to expand. We’re committed to creating sustainable growth in the region by focusing on ventures that require funding and then expanding their manufacturing hubs here. It’s about building something that lasts, both for the community and for our investors.
6 // And what are some of the major achievements you’ve had so far?
Andrew: We’ve already achieved a lot in just under nine months, raising significant funds and making our first three investments. We’re looking at more opportunities, and we’re proud of the returns we’ve been able to generate for our investors, around 40% [IRR].
We’re also continuing to build the infrastructure to support larger-scale transactions. We’ve now got an investment banking arm, and we’re working on mergers and acquisitions, as well as large wholesale fundings.
We’ve also been approached by federal and state government agencies, other venture capital funds, and even multinational corporations. It’s amazing how quickly we’ve established ourselves as a credible player in this space.
Everything is happening from our office in Bowral, it’s amazing what we’ve been able to accomplish from here.
Ashish and John: We call our office our global headquarters.
7 // And what’s next for So Hi Partners? What are you most excited about moving forward?
John: Nick and Ashish’s goal is to take ideas that come out of the Southern Highlands and globalise them. So Hi Partners is the vehicle to make that happen. There’s real potential here, and we’re excited to show the world what the Highlands can offer.
Ashish: Science and humanity are our bylines for a reason. The view from here is larger than all of us combined. We’re not just building a business, we’re building a future.
8 // What advice would you give to local entrepreneurs?
Ashish: If you have an idea, big or small, push hard for it. Talk to as many people as you can, and if we’re one of those people, we’re keen to hear your story. Don’t give up.
John: The key is to have good people around you. Seek advice from as many different quarters as you can , both locally and internationally. Build a strong network, and don’t be afraid to lean on others for help.
Andrew: And speak to your friends and neighbours. The Southern Highlands is a very rich and diverse community, full of people who’ve done well in business or are looking to do so. There’s so much opportunity for collaboration here, you never know where a conversation could lead.
9 // And, you know we’ve gotta ask, what do you love to do in the Southern Highlands?
John: I love a good coffee at Exeter General Store and a drink at Briars.
Andrew: Anything with a Southern Highlands Brewery beer and a coffee at Nick’s in Bowral.
Nick: For me, it’s a good coffee at Rush.
Ashish: Same for me.
SoHi Partners isn’t just about making investments; it’s about leaving a real mark in our community.
With their focus on medical tech and dedication to local growth, they’re showing that innovation can flourish in places you wouldn’t expect.
If you’re interested in investing or seeking investment opportunities then reach out to the team. You can learn more at their website or by shooting them an email at info@sohipartners.com.
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