The $2.25B Exit that Changed Lumira’s Investment Strategy

Suman Rao, PhD, Principal at Lumira Ventures

Like many Indian kids, I thought I would grow up to be a doctor (surprise!). I was always excited about life sciences and naively believed that becoming a doctor or a researcher were my two options. However, my professional story traversing academia and management consulting led me to find my passion in venture capital. To go back a few years, I was raised by parents who greatly valued education and hard work. My dad was a professor at a premier academic institution and growing up, every adult around me had a Ph.D., and was deeply rooted in the academic world. My mom, on the other hand, represented a completely different world – she was a fierce leader breaking barriers in the corporate world and paving the way for next-gen women like myself.

Unsurprisingly, my professional journey has been a culmination of the two worlds. My decision to pursue a Ph.D., degree and a postdoctoral fellowship was driven by my love for cancer research. I became interested in cancer drug discovery during my undergraduate degree. I recall one defining moment in a biochemistry class, when I learned that complex diseases arise from dysfunctional signaling pathways, and drugging these could potentially reverse disease pathology. While deeply passionate about research, I recognized that I wanted my work to have a meaningful impact on patient lives and go beyond the bench. I started exploring ways to combine my inherent love for life sciences with a deeper understanding of the biotech business. I worked in management consulting providing strategic advice to biotech clients. Subsequently, I took this experience and channeled it towards building and supporting innovative life science companies when I joined Lumira Ventures in 2021.