
Episode #37
Adam Besvinick of Looking Glass Capital: Why Raising Too Much, Too Early Is a Mistake
Adam Besvinick, founder and managing partner of Looking Glass Capital, joins Care Shift to talk about being the first yes at pre-seed, and why raising too much, too early is a mistake. Looking Glass is a solo GP pre-seed fund investing across health, climate, and economic drivers. Before starting the firm in 2019, Adam invested from pre-seed through Series C at Deep Fork Capital and Anchorage Capital Group, backing companies like Transfix, BigID, One Concern, and Carrot. In this episode, we cover the moats that still matter in the AI era, the risks of selling healthcare data to frontier labs, whether Epic is really a threat to healthcare startups, how Adam built a solo GP fund starting right before COVID, and why capital constraints often produce better companies. 00:00 Intro 02:25 Building conviction when others pass 07:01 The moats that still matter in 2026 09:59 Selling healthcare data to AI labs 13:48 Can Epic replicate your startup? 17:37 Starting Looking Glass Capital 24:08 Earning LP trust as a solo GP 30:12 Why health, climate, and economic drivers 41:01 Oversized rounds and bloated financial models 46:22 The biggest fundraising mistake founders make 49:07 Rapid fire Looking Glass Capital: https://lookingglass.vc Adam on LinkedIn: https://www.linkedin.com/in/besvinick Care Shift newsletter: https://careshift.substack.com/ Vik's LinkedIn: https://www.linkedin.com/in/sathvik-bilakanti-8b5344169/






