Belal Badat Ventures

Early Doximity Team Investing in
Digital Health Founders

We bring learnings from building the largest medical network in the U.S.

Our Story

Improving healthcare one startup at a time

In 2022, Ahmed Belal and Mujtaba Badat created Belal Badat Ventures, a family office fund with the goal of advising and investing in early-stage digital health startups. Ahmed and Mujtaba started angel investing in 2016 and began focusing on helping healthcare founders after Doximity's IPO in 2021.

In 2024, they recruited their longtime friend and colleague Dr. Peter Alperin as a venture partner. Together they co-founded DxAngels, an investment syndicate of Doximity alumni, physicians, and health tech leaders, to increase the capital and knowledge they could infuse into the digital health startup ecosystem.

We're early stage builders

Ahmed, Mujtaba, and Dr. Peter Alperin were all early employees at Doximity (NYSE:DOCS) where they helped build the largest medical network in the U.S. with over a million medical professionals and 80% of physicians as members. Their experience spans the inception of Doximity's first products to operating as a publicly traded company.

Managing Partner

Ahmed Belal

Ahmed was a founding member of Doximity's growth team and developed the early product-led growth strategies that catalyzed Doximity's physician network. During his seven years there, Ahmed began as a software engineer and then led the growth team as it expanded Doximity's network to one million clinicians. Ahmed also led product partnerships with top hospitals as well as with Google, Microsoft, and U.S. News & World Report. After Doximity, Ahmed led new user acquisition at Nextdoor. He helped grow Nextdoor's adoption to one in three U.S. households and expand its adoption in 10+ countries.

Managing Partner

Mujtaba (MJ) Badat

Mujtaba is a growth enthusiast who specializes in building marketplace products in healthcare. As an early employee at Doximity, he started as a software engineer, moved into product, and eventually worked directly under CEO Jeff Tangey to launch new business initiatives. Those efforts resulted in Doximity’s push into direct staffing and acquisition of Curative Talent. He served as Chief Growth Officer for Doximity’s recruiting businesses for 3 years, leading product and growth efforts before he retired in 2023, concluding a decade-long journey at the company.

Venture Partner

Dr. Peter Alperin

Dr. Pete saw Doximity when it was a drawing on a piece of paper and had a 13 year long journey that spanned roles in sales and product. He built the hospital solutions business from the ground up before handing it off to focus on growing the network products at Doximity. Dr. Pete has held leadership roles at various health tech companies since the early 2000's and still practices medicine in the ER for the VA.

Writing early stage checks

Investing in digital health startups from pre-seed to Series A

Belal Badat Ventures

Belal Badat invests $25k to $50k in pre-seed and seed stage startups. Our preference is well rounded teams that have strong founder-market fit and prior healthcare experience. We enjoy pairing with founders to work through problems, especially clinician and hospital facing growth challenges.

DxAngels Syndicate

DxAngels invests $300k in seed and series A startups. Our syndicate prefers companies that have moved beyond initial stages of product-market fit and are looking to scale. The investment comes with the combined brain power and experience of dozens of Doximity alumni, tech-forward physicians, and health tech leaders who want to help founders grow their businesses.