Wallet Max™ Planet Positive Podcast with Investor Claire Biernacki

​​Join Bhuva Shakti, Founder & CEO at Wallet Max, as she speaks with investors looking to leverage inclusion and impact without compromising growth of investments.

​​​This month, Bhuva's guest is Claire Biernacki, Partner at BBG Ventures, a seed and pre-seed venture fund leading investments in female or diverse founders who are uniquely qualified to build for our polycultural future - it was one of the first funds to put a stake in the ground around backing overlooked founders in 2014.

​About Claire Biernacki
​Claire Biernacki is a Partner at BBG Ventures, where she focuses primarily on healthcare and vertical AI. She joined BBGV as the first investment team member in Fund I while completing her MBA at Columbia Business School. During her time at Columbia, Claire worked at Lerer Hippeau and gained operating experience at early-stage startups including Studs and Koio. She also served as Co-President of the Columbia Venture Club. Prior to business school, she was on the investment teams at Pomona Capital and Cult Capital, after starting her career in investment banking at Bank of America. Claire earned her BS in Business and BA in French from UNC-Chapel Hill. She also enjoys running, going to ballet performances and teaching yoga in her free time.

​About Wallet Max:
​Wallet Max is an inclusive global community of corporate executives and venture capitalists with a mission to expand fundraising access for high-growth startups in the technology, AI, fintech, and climate sustainability sectors.

Wallet Max's Planet Positive Podcast is a monthly interview with investors driving impact globally. Aligned with our mission to challenge the status quo, we showcase personal and professional journeys of diverse investors (Angels, VCs, PEs, Family Office, Corporate Venture) looking to leverage inclusion and impact without compromising growth of investments. Supporting sustainable innovations is good for people's wellbeing, planet survival, and financial profits.

​​About Bhuva Shakti:

Bhuva Shakti (she/her) is the futuristic founder and CEO driving sustainable innovation at Wallet Max, a global community of corporate executives, policy leaders, and venture capital investors expanding fundraising access for high-growth impact startups. With an MBA from Columbia University in New York and as a senior executive director on Wall Street for three decades, Bhuva has managed diverse financial portfolios and launched several digital transformation products for investment banks, capital markets, and payment networks.

​​Bhuva’s leadership and risk governance oversight, during the global financial crisis and the pandemic, was pivotal for the success of regulatory compliance and mergers acquisitions at the world's top banks and credit rating institutions. Bhuva is a board director and C-Suite advisor for people and planet friendly businesses, without compromising profits, and a keynote and TEDx speaker advancing economic inclusion and climate-fintech partnerships.

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Transcript

Bhuva:

Hi, everyone. Welcome to another edition of Wallet Max Planet Positive podcast. I'm Bhuva Shakti, based in New York, and the founder of Wallet Max. We are a global community of startups, investors, and executives focused on increasing sustainable funding access, especially in climate tech, fintech, deep tech, and AI sectors. We interview one impact investor every month for our podcast to share their background and what differentiates them from the crowd in terms of prioritizing impact along with profits and planet. We deep dive into their personal and professional journey and their mission to uplift. Today, we are speaking with Claire, a partner at BBG Ventures, where she focuses primarily on healthcare and vertical AI. She joined BBGV as the first investment team member. I'm proud to share this podcast with a fellow MBA from Columbia Business School. Claire also served as co-president at the Columbia Venture Club.

Prior to business school, she was on the investment teams at Pomona Capital and Cult Capital after starting her career in investment banking at Bank of America. Let me now hand over to Claire and invite her to say a few words about her background and career path. Over to you, Claire.

Claire:

Thanks. Yeah, excited to be here. And I didn't realize we have the Columbia connection, so that's great. Yeah, I think you covered it pretty well. So I I joined Bank of America out of undergrad and then went to a secondary fund and did some co-investing and direct investing there as well to really learn the overall landscape of investment, the investment ecosystem system. And so we focused primarily on private equity, but touched some venture. I would say that was what really opened my eyes to venture and my curiosity around it. And so then went to Columbia and used those two years to, like an early stage founder, test different hypotheses around what I wanted to do. So wore many hats, pretty much worked all throughout school. That was the advantage of being in New York at Columbia.

So worked at Lerer Hippeau, worked at one of their portfolio companies, Studs. I briefly worked on my own company for a bit. So wore venture founder, operator, all of those hats, and ultimately landed on staying as an investor, but moving earlier stage, really closer to the company when you're direct investing. And so I joined BBG coming out of business school. Actually, I joined them in my last semester and right before COVID happened and got to know the team through. They actually were diligencing studs and obviously knew the Lerer Hippeau team well as well. So I had a couple of different connections to them and felt like it was a really fun opportunity to come in boots on the ground and help build a firm from the ground up And obviously, really liked our mission and the partners there, too. And so I guess just to summarize where we focus, our thesis is really around what we talk about as the polycultural future. And so when you look at demographic shifts in the US over time, under-18s for the first time are majority diverse. And then when you couple that with other factors like an aging population, there's really a shift in core needs of Americans. And we back founders that are uniquely positioned to serve those core needs and oftentimes represent the diverse ecosystem that exists today. And so we're really backing underrepresented founders. We built our brand around backing female founders, but in line with our mandate and thesis have brought in that focused underrepresented founders today.So Yeah, lots to get into, but that's the high level.

Bhuva:

Thank you. I was also working full-time while at Columbia. It was a lot, but I think I was very clear what I wanted to do when I graduated instead of trying to figure out. There's a connection there. And you rightly also mentioned the polycultural shift. It's not only in the startup venture ecosystem, it's in the corporate sector, policy sector, everywhere in the world. So the sooner we as businesses, investors are able to adopt to that, the better, because the next generation is going to be making decisions differently.nSo we have to really adapt as trends evolve. So thanks for sharing your career path and professional background.

Curious to understand what's your unique secret sauce. So when you decided among multiple hats, venture is the way you want to go with the early stage, is there a pivotal moment that made you make that decision?

Claire:

Yeah, it's a good question. I mean, I think there's maybe two different questions there. Secret sauce, I think in venture and in joining an emerging fund, you really do need to be scrappy and comfortable with limited information and limited data to make decisions. And I think if you look and where I came from, I came from a very data-oriented environment, banking, later stage investing. And so that What was something that I was testing during school? How comfortable can I be with limited data up front? And I think there are sometimes perceptions that startups can be crazy, where there's not a lot of structure And I think things are moving quite quickly, which is true. But I would say actually at Studs, one of the founders there, I was there pre-launch, through-launch, and just saw how they positioned every decision what they made, even when there's very limited data in a very data-oriented way or set KPIs around what their goals were and then adjusted and made decisions based off of those. And so I think that approach is something we also apply at BBG internally and how we advise our companies. And I think this sense of ongoing goal setting or putting structure around the unstructured is actually quite helpful in a framework that you can apply to almost anything that you do.

And so I think once I learned how to create that framework, then I got a lot more comfortable with it and found it quite fun. I think for some of early on when I was an associate, I would help our companies with their financial models. And over time, I'm no longer doing their models for them for the most part. But I still think have that framework of thinking. I think that's a little bit different at the early stage. But I think just the piece around scrappiness, and I think that goes back to a couple. I would say even when I was younger, I did ballet really intensely. And so something that I was just reflecting on recently was with my partners, they talked about as I grew over time at the fund, just how receptive I was to feedback. And I think that probably goes back to ballet. You're getting corrected the entire time, your entire class. People are yelling at you, telling you what you're doing wrong. And so I think I'm just quite comfortable with getting feedback and adjusting based on it. I don't take it personally. And yeah, I mean, I guess the scrappiness piece, I think just goes back to I lost my father when I was younger, too. And so I think I just always had a little...And he didn't have the chance or neither my parents graduated from college. And so I think just had a little bit of a chip on my shoulder around that. And so I've always been a bit of a hustler coming from that background. So, yeah, long answer, but I think it's scrappiness and then for me, putting some data and structure around the unstructured.

Bhuva:

Thanks for sharing. And sorry about your father, but also some of our early moments bring that hustle culture into us, inherently builds more resilience. And in terms of scrappiness, definitely multicultural teams and diverse teams do more due diligence and risk management, even when there is no data. And that's going to be a good thing because you as an investor is going to have a better team that's going to execute the milestones instead of just going without diligence. At their end, of course, investors do the diligence. So that's a great story, and I think everyone can relate to it. Thank you for sharing that. Now, getting into at BBG, you also in your profile, say, vertical AI. For many people who don't understand What is Vertical AI? Could you help us understand? And then the other sector where healthcare. What are the typical areas within health care do you invest in?

Claire:

Yeah. So vertical AI is, I think right now, when you look at opportunities with AI across any category where you're building for a very specific end user or a business for the most part. So building in construction, building for SMBs, building even in health care, that can be vertical AI. And so building, oftentimes starting with one product and then layering on more and more, ultimately serving your customer really end-to-end. And so I think when you look at the opportunities with AI because it's quite hard to have a moat. We think of product oftentimes as the moat. And so being able to have a product that's very nuanced for the end user, vertical AI lends itself very well to that. So it's an area we're really excited about, but I would say that's quite broad. And so when we look at what's most exciting at BBG, when we think about some of the stuff that we learned in our survey around the polycultural future, which we did across 2000 participants across the US, that helped inform our thesis. When we look at our survey as well as just some of the other companies in our portfolio that have been successful, we're most excited about, I would say, underrepresented industries. And so lots of tech has been built for the knowledge worker. There are lots of companies that are trying to build AI for lawyers, accountants, et cetera. But we're really excited about the underserved worker, oftentimes an SMB, someone in legacy industries, freelancers, solopreneurs, and so people who really haven't had tech built for them historically. And so, yes, spending a lot of time there. And I'm happy to share more about some companies there, too, if it's helpful. But in health care, we were early in health care. One of our first investments there was Spring Health, which was actually early to AI, too, building out a better model for Mental Health, and they are a unicorn company now, one of the youngest female founders to achieve unicorn status. So that was one of our first areas of investment back in 2018, I believe. But it's been a focus, a core need for many Americans going back to our thesis. Health care is top on the list when we did our survey around what core priorities and areas of needs are across demographics, across generations. And so continue to focus there. I would say a couple of things that I've been looking into building out platforms that connect patients and providers for chronic conditions and how do you use AI and deliver, again, a great product experience end-to-end. And I think there's just so many friction points still in health care. Ai now is the perfect thing to create a great experience.

And customers are some of the most notoriously difficult customers to sell into when you think of payers, providers, people who are used to always doing their workflows the way they've done them. And so really need an amazing product experience. And that's what we look for in that piece that I was just talking about. Voice as a biomarker is early, but we think pretty interesting. And anyone generally building new data sets for... When you think of areas of women's health that have still yet to have real platforms for them. So, endometriosis, for example, can we build new data sets there? And then women's health, I would say we're still thinking about a little bit less on the fertility side more when you think about building the tools that help to power women's health clinics, for example, or the conditions that disproportionately impact women.

So Alzheimer's is an example of that, which estrogen has a tie to, and so tracking that as a marker as well. So yeah, a number of different things, but health care remains an area that we're quite excited about. 

Bhuva:

Thanks for sharing, Claire. And within health care, I know Spring Health is revolutionary, especially it focuses on mental health. A lot of community members that I know rely heavily on Spring Health because typically, you have other national providers and then mental health is an optional. You have to go through a lot of processes. But if someone really wants to focus only on mental health support, you have direct, inclusive and accessible access within Spring Health. So I think that's a great investment for you as well. And Before we go deep dive into health care, I have one question on vertical AI that you mentioned, right?

So there is a lot of discussion on AI today. Every company looks like an AI company. So how do you differentiate vertical AI versus the hype? Last year, everywhere, there was generative AI, this year, agentic AI. There could be something else next year. So hype versus real vertical AI innovative solutions. I would really like to understand what your is.

And you also mentioned, just related to that AI topic, building solutions for the non-knowledge workers, more underserved communities where the solutions have not been built today. I think one of the challenges I've heard is there are some folks maybe thinking AI automation could be a challenge for their jobs because AI can automate their jobs. Have you seen something like this within the vertical AI space? How do you balance this? In your decisions?

Claire:

Yeah, no, they're both good questions. I think on the first AI versus Hype AI, I mean, there's definitely companies that are AI native, building with AI from the ground up versus companies that are AI enabled, which are using AI to power their business, but it's maybe not critical or their business could still exist without AI or existed before AI, and they're layering it on. I think we actually are taking a bifurcated strategy where we're investing, obviously, in AI companies, like many, many companies are AI companies today, but then also investing in some non-AI companies. We've done one company called Climatic, which is launching early next year. They're in the lung health space. They're building a product that helps to cleanse and clear mucus from your lungs. So totally not AI, but helps lead that deal earlier this year, but really taking this bifurcated approach so that we have a distributed strategy. I think the other piece there, just when you think about And many others have given this explanation as well. But it's a bit funny to call your company an AI company when that's like calling your company in the past an Internet company. So we believe every company, for the most part, is using AI in some way.

It's just, is it critical to the differentiation in your product? I think more and more, the answer to that is no. And so we're largely thinking about companies like we had in the past where we level up on, why is this the right founder to build this business? Do they have an advantage in this category? Do they have both learned and lived experience? So did they have a personal pain point here that really makes them care and want to hustle to build this company? Why now is the right time? And AI is not enough for the why now. That can be an accelerant, but there should be some force in the market that's driving you to build your company at this point in time. And then why this product? So how is the product differentiated? And that can be providing a really different product experience that's amazing and seamless to your users. I would say we want to couple that with a go-to-market advantage. But oftentimes that can be access to a unique data set that is incorporated into the product. Or if it's really a white space, we can be more comfortable with a unique product experience being the product advantage. But we really level up on those three things. So why this team? Why now? Why this product? And then your second question about replacing jobs.

I think that's true. I think today companies are, and I would say we are not oftentimes investing where the direct goal is to replace jobs. I think the way technology is being positioned is that it will help to power these workers to better do their job. So one example maybe is a company called Max Home, which automates the transaction coordination process for real estate agents end-to-end. And when you think about going back to this piece on why now, home sales are at historic lows. And then there's this ruling where the incentive structure for agents is changing. And so they're under a lot of pressure. They're making less money and spending all of this time doing the post-transaction process, signing paperwork, that's taking away from where they should be spending their time with their customers and out earning more business. And so their tool is helping to power the back office to free up-time to spend more time on the revenue-generating piece. I think for agents, if you're able to make more money because you're not doing all these other things, then you're showing your value. Things like that where it's reducing the burden on the user, but then also freeing up their time to spend where it matters most, essentially.

Bhuva:

Yeah, I couldn't agree more. So platforms like Compass or Homes help the agents to list, but after that, what happens? We have no idea. They are stuck in a lot of paperwork that they are manually doing. So really helpful situation here where if AI is able to help them focus more, productively, perform better, that's good news. Thanks for sharing that. And within healthcare, while we focused a little on AI at the moment, within healthcare, one topic that's very close to my heart, you also mentioned, which is women's health, which is overlooked for a long time. I also know Alzheimer's, Parkinson's, and so many other diseases, it may not be even women-related healthcare situations. It could be general illness, could be perceived very differently because some clinical trials might not have been done on women, but medications or treatments could be prescribed based on that. That could also alleviate situations where sometimes it's very difficult to even identify a heart attack in women versus men because it was not separated sufficiently. Within healthcare, I mean, any type of healthcare that you are focused on? Where do you see opportunities and challenges, specifically in the US market?

Claire:

Yeah. No, it's a big question. I mean, I think obviously there's a lot of opportunity just on the basic workflows to power them. Obviously, there's been some early winners there, but I don't think we necessarily think it's going to be a winner take all market. I think when you are betting on the workflow side of things, you do have to believe that the team has a unique advantage and right to win. I think in health care more so than many other categories, we oftentimes are looking for a team that comes from that background so that there's a lot to get up to speed on in health care. Sales cycles really long. And so someone who understands that and who's been through it before is really critical. I think going back to opportunities like that, that's an obvious one where a lot of people are making bets. I think we have We're still looking at care delivery companies. I think for companies that can actually use AI to make unit economics look better and areas that are still underserved, care delivery can still be interesting, though, I think spending more time thinking about these chronic condition platforms, for example, that I mentioned. I think I mentioned areas like Alzheimer's and from a neuro perspective, using voice as a biomarker today is relatively nascent in adoption. But I think we think there's a lot of opportunity over the long term. You just have to think about clinicians today are just starting to use AI to take notes.

And so using it on the clinical side guide is a really natural use case, but we're not there yet in adoption, though I do think someone will break out there. And so continuing to meet those companies to see where our thesis is. So I mean, similar to the areas that I mentioned earlier, that that's where we're spending time in health care. 

Bhuva:

And then I think talked about women's health and thinking more of how do you help power those clinics and what are the conditions that are disproportionately currently impacting women?

Claire:

I will say, like one of our companies, Millie, for example, they are building... It's a care delivery model that partners with health systems to build out a clinic within a hospital to deliver end-to-end care from the time that you conceive up until delivery and then beyond. They're actually now layering on menopause as well, OB/GYN. And so really built, when you think about just from a unit economics perspective, a very high customer value and have attractive cost dynamics because they're partnering with the health system who takes on some of the build costs, and they're starting to use AI now to make their unit economics look more attractive over time. And so they actually have, I think that's one where because of the high LTV and lower expenses, it's actually quite an attractive business model. And we're really impressed by the outcomes that they're delivering. They have great health system partners. Anu, the founder, comes from health care and it's really fantastic. So that's an example of an investment where they just raised Series A last year. We'll continue to support the company over time. But that's one that we like as well.

Bhuva:

Thank you for sharing, Claire. You rightly also mentioned why now is really important to be it AI or health care. Also, you rightly mentioned the sales cycle for healthcare typically a little bit longer. Given these circumstances, how BBG is trying to invest in early stage or seed stage and is able to get that return on investment? I mean, is there anything really unique about your investment thesis that you hold very strictly to ensure the ROI definitely happens? Or maybe sometimes you could have to make compromises, but then waiting too early on a longer sales cycle initiative, how do you really foresee that in your investment thesis?

Claire:

Yeah. I mean, the venture model, and when you're talking about ROI, do you mean ROI on our investment or ROI from a health care perspective? 

Bhuva:

Our way on your investments.

Claire:

Okay, that's what I thought. A venture model is not you make money on every single company. I mean, we are, though we have an impact lens, we are much a venture returns first fund. And so we are underwriting our funds to similar profiles as many of our peers and also have this lens of investing in underrepresented founders. And we think you can deliver better returns because underrepresented founders oftentimes build better teams and have unique backgrounds needed to win in some of these categories. So returns oriented fund. And so what that means for venture is that we're expecting only several of our investments to return our fund and assume that the majority of those others, because they're big swings, ultimately won't work out and won't deliver substantial capital back to the fund. And so it only takes a few.And so I guess just tactically, what that looks like, we are with the company along the journey, trying to help guide the founder to make the best decisions along the way. There's one company that I was working with recently where we ultimately decided and were aligned on the fact that the company likely couldn't raise more money with where they were. And so we went out and found potential buyers or partners. And so the founders spent time in talking with these folks, seeing who could be the best fit for the company going forward.

And once they reach this inflection point where they couldn't raise, this was the best path forward for the company. And one where there's path. It's an equity deal. And so there's path where we could get essentially all of our money back. But that depends on how the ultimate acquirer buyer's business performs over time. And so that's one where we were very much with the founder hand in hand along the journey up until the final stages.

I think some funds, given the potential return profile to the fund, would be less involved at that point. And so whether it's a winner or a company that ultimately may not return capital, we try to be there from the beginning through the end, helping to guide the founder as needed and try to evaluate partners along the way.

Bhuva:

That's very true. Thanks for sharing, Claire. And one quick follow-up I have on that is also, so we spoke about a bunch of trends and a bunch of stages. For For example, do you see Series A and beyond slightly in a different trajectory in terms of AI and healthcare trends versus early stage or seed? Why I'm asking this question is because you are an investor, you could be an advisor on these startup boards. In early stage and seed stage, these AI healthcare startups, what do they typically rely on from you versus Series A and beyond? What do they typically rely on from an investor like you?

Claire:

When we think about where we add the most value as pre-seed and seed investors, it's getting that company up to Series A. We appreciate that sometimes a new investor or We're always a new investor comes in, sometimes a new board member. We stay on the board if it makes sense, but appreciate that our involvement may look different from the Series A and beyond because we're no longer the only or primary investor on the cap table. So from pre-seed to seed, a couple of things that we think about. I think one, bring just a unique perspective to company building.

Several of My partners come from operating backgrounds and so have lots of relevant experience, but also great folks in their network that they can make connections to And we're constantly building and growing our operator networks as as well. We really like to think about how can we make the perfect introduction to help get a company from zero to one?

Who is that real person that will get them to the next level? That could be product, that could be marketing. t just depends on the company. That's one thing. I would say we also are just... Even when you think about the bifurcation in the market today, there's the multi-stage fund, and we are very much an emerging manager. And I would say the multi-stage fund often is a brand of a check, but we are building our brand.

We are also a bit of a startup. And so we are very incentivized to work closely with our companies to help deliver the best outcome that we can. And so that could mean helping you with investor introductions. It could be helping you prepare for your first board meeting. There are many things that are first. We back many first-time founders, and oftentimes, underrepresented founders are first-time and founders. And so I think that level of guidance or feedback can be helpful at the earliest stage. And so that's another just best company practices, an area where we lean in. And then I would say a number of folks on our team, we really started our bread and butter in consumer. And so though we are 50/50, B2B, B2C today, but do have a strong consumer DNA and perspective. And so on the product side, have a lot of natural instincts there and can bring value in thinking about product or iterating on product. And there's a number of other things. I think going back to the operator side, like customer introductions, we'll lean in.

But we try to level up on what's most important for this business and how do we support that specific need rather than going out everything. So that's where we lean in. And then from beyond that, we can, as a company, think about exiting. We can be helpful in making introductions there. We can be, oftentimes, the longevity of a relationship. You have a different perspective and relationship with the founder than maybe some of the newer investors. And oftentimes, and I think this is better even said from some of our founders, I think when founders are asking why they should work with us, I actually prefer them to talk directly to our founders who can share specific anecdotes to this. But the nature of the relationship as you become later stage is different because we had been there from sometimes day one. And so I think just the type of feedback or ear that you get from us just looks a little bit different than your later stage investors.

Bhuva:

I couldn't agree more on the investor-founder fit. So while investors are shopping, founders are also shopping, right? It's not that you hand over the check, your task is done. The relationship is beginning at that point in time, which means a lot of founders rely on past founder references, and investors also rely on past founder references. I think establishing a relationship and investment on that trajectory is going to be more long term and sustainable. I've seen so many examples like that, so I'm happy that you are able to share that. I can see the time is running out, and I want to quickly jump on to our last question of the day, which is we started our discussion with your personal journey and how you evaluated multiple options and then selected venture investing as your pathway. So in all the time you have spent at BBG, close to, I think, approximately 4-5 years at the moment, how do you think your personal mission has evolved while you are making the investments? Have you changed anything? Are you thinking anything very differently from a personal values and mission perspective? And is there anything else that you'd like to share with our audience as we wrap up? Feel free to do that as well.

Claire:

Yeah. I think, I guess a couple of things there. Obviously, our thesis has evolved over time. So it went from backing female founders to underrepresented founders. And I think, as I mentioned, that relates to the research that we put together and shifts in demographics. But we've also just really always been backing diverse founders over time. And I think we're just really excited to to have the opportunity to continue investing in more and more founders. So that's one piece on thesis. I think just from a personal perspective, I would say my mission is still very much the same. Female founders, diverse Diverse Founders still get such a subset of funding. And when you look at... Coming out of COVID, there was this excitement around backing diverse founders, but there's been a bit of a reversion to status quo and backing people that you know and you're comfortable with and maybe look like you. And so I think there's really a real opportunity in the market and a gap in the market to back underrepresented founders. And so I think it's important now more than ever to have this thesis. And we were early to it. We were one of the first back in 2014 to put a stake in the ground around backing female founders and so have the brand and longevity to do so. So, yeah, I mean, I think those are from a personal perspective, still excited about that. I think just like what I'm working on now, obviously, as my role has evolved, it's like building my continuing to build my track record and continuing to be able to win deals and have the right to win. I think it's a hyper competitive market right now. And so we're really trying to lean in with companies quite early.

We're doing more and more pre-seed, trying to get to know founders as early as possible. I guess on that piece, if there are great people in your network that might be even just thinking about founding, it doesn't have to be someone with a business idea. We will invest early and can invest on people and an interesting market opportunity. That will be my plug at the end.

Bhuva:

Well, thank you. I'm so happy that you mentioned that this is the time we have to continue to focus on investing in diverse and underrepresented female founders, not the time to step back, right? Especially private markets, private investors should really be at the forefront of solving some of these challenges. And thanks for sharing. And I know your personal mission has also evolved but continued to stay true to your core identity and values. And I believe BBG is a great match for you as well. And I'll also inform our community if anyone is interested to even learn more about what you do and how you do, they'll be able to reach you. I'll share all the CTAs and things like that. With that, if there is anything you want to share, please do, Claire.

But I'm so happy that we are able to connect, and there are a lot of synergies that we spoke about today.

Claire:

Yeah, it was a great conversation. Thanks so much for the time. I had fun.

Bhuva:

Thank you, Claire.