Why AI Can't Replace Drug Development — Diego Braguglia (VI Partners)

Innovation and Private Capital x aulium · Sep 9, 2026 · 1h 8m

Diego Braguglia has spent 25 years investing in healthcare, and his most important lesson isn't about science or exits — it's about cash. Through the dot-com crash, the 2008 financial crisis, and multiple market downturns, his firm VI Partners survived by staying diligent, keeping liquidity, and refusing to compromise on the quality of science. In this conversation, Braguglia walks through the mechanics of early-stage healthcare investing, the structural advantages of evergreen funds over traditional 10-year vehicles, and why he believes price is what you pay but value is what you get.

The…