M&A Zing (S2EP12) - Scientist Turns Searcher: Robert Shore on Healthcare ETA, AI Moats & Deal Flow
Season 2, Episode 12, Sep 24, 05:01 PM
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Mid-career scientist-turned-investor Robert Shore (Shorefox Partners) shares how lab discipline powers a traditional, healthcare-only search: building the right cap table, using AI-proofing as a diligence pillar, and balancing brokered vs proprietary deal flow on the road to acquisition.
From vaccine research at Harvard, to AstraZeneca BD, to running a £50m book, and now a traditional, healthcare-only search. Robert Shore (Shorefox Partners) unpacks mid-career ETA, how science habits translate to sourcing, why “AI-proof” is now a diligence pillar, and the gritty reality of brokered vs proprietary deal flow.
In this episode:
- Why a mid-career, sector-specialist traditional search (and not self-funded)
- Translating lab skills to ETA: hypothesis → test → iterate
- The three-leg diligence stool: recurring revenue, growth engine, AI risk
- Health-care niches with regulatory moats vs data-rich, easily automated targets
- Fundraising: building the cap table, reps before “A-list” investors
- Broker networks, proprietary angles, and pacing the journey
Timestamps:
[00:13] Welcome
[00:20] What this show’s about & who it’s for
[00:29] Guest intro: Robert Shore, Shawfox Partners
[01:00] Mid-career searcher, healthcare focus & background
[02:40] From engineering → PhD/Harvard → Wall St. → AstraZeneca → FO PM
[06:58] Why an MBA; moving from science to finance and BD
[09:45] Traditional search vs self-funded: choosing the structure
[12:12] Sector thesis: defensive healthcare + regulatory moats
[15:55] AI as diligence pillar: what’s automatable, what isn’t
[19:10] Fundraise playbook: do reps, then pitch your A-list
[21:18] Solo vs partner searches; what investors really prefer
[24:30] ROI on time, legacy, and adapting across careers
[28:42] Health-care targets that don’t fit (and why)
[31:12] Early search challenges: broker coverage & proprietary sourcing
[34:40] Quality vs quantity in outreach (and when that flips)
[38:46] Iteration under fire: plan → fail → refine in search
[42:41] Where Robert wants to be 12 months from now
[46:05] Closing & how to connect
Links & resources:
Shorefox Partners
https://www.shorefoxpartners.com/
Robert Shaw
https://www.linkedin.com/in/shoremail/
BizCrunch - end-to-end platform for SMB succession M&A
https://www.bizcrunch.co/
In this episode:
- Why a mid-career, sector-specialist traditional search (and not self-funded)
- Translating lab skills to ETA: hypothesis → test → iterate
- The three-leg diligence stool: recurring revenue, growth engine, AI risk
- Health-care niches with regulatory moats vs data-rich, easily automated targets
- Fundraising: building the cap table, reps before “A-list” investors
- Broker networks, proprietary angles, and pacing the journey
Timestamps:
[00:13] Welcome
[00:20] What this show’s about & who it’s for
[00:29] Guest intro: Robert Shore, Shawfox Partners
[01:00] Mid-career searcher, healthcare focus & background
[02:40] From engineering → PhD/Harvard → Wall St. → AstraZeneca → FO PM
[06:58] Why an MBA; moving from science to finance and BD
[09:45] Traditional search vs self-funded: choosing the structure
[12:12] Sector thesis: defensive healthcare + regulatory moats
[15:55] AI as diligence pillar: what’s automatable, what isn’t
[19:10] Fundraise playbook: do reps, then pitch your A-list
[21:18] Solo vs partner searches; what investors really prefer
[24:30] ROI on time, legacy, and adapting across careers
[28:42] Health-care targets that don’t fit (and why)
[31:12] Early search challenges: broker coverage & proprietary sourcing
[34:40] Quality vs quantity in outreach (and when that flips)
[38:46] Iteration under fire: plan → fail → refine in search
[42:41] Where Robert wants to be 12 months from now
[46:05] Closing & how to connect
Links & resources:
Shorefox Partners
https://www.shorefoxpartners.com/
Robert Shaw
https://www.linkedin.com/in/shoremail/
BizCrunch - end-to-end platform for SMB succession M&A
https://www.bizcrunch.co/