Meet the founders helping founders


With over 40 years of collective experience in research, product development, healthcare commercialization, and technology, Recode provides a home for committed to realizing a new future born from the convergence of healthcare and technology.

team member

Vishal Gulati, MD

Founder & Managing Partner

Vishal co-founded Recode Ventures in 2022 after nearly three decades as a physician- scientist and venture capitalist. During his investment career, Vishal has backed over 40 companies developing ground-breaking treatments for unmet medical needs and has served on boards of numerous public and private companies. His work has supported the launch of innovative drugs, devices, and digital health products, impacting patients' lives in nearly 100 countries.

Vishal’s training in medicine and biomedical sciences gives him unique insight to spot which emerging technology platforms may have the potential of transforming healthcare, making him one of the early investors in successive emerging platforms such as genomics, computational biology and the convergence of imaging and machine learning.

At Recode, Vishal’s investments include Sensible Biotechnologies (novel mRNA therapeutics), Nanograb (precision gene targeting), Probably Genetic (rare disease diagnosis), Lab Genius (in-silico antibody engineering) and Waypoint Bio (spatial imaging for immuno-oncology). Some of his earlier investments include Evonetix (semiconductor platform for gene synthesis), Chemify (chemical code for drug discovery), Infinitopes (cancer vaccines), Clue (reproductive health),Ieso Digital Health (mental health, LLMs), Quit Genius (Pelego) (abuse and addiction), Zoe (microbiome), Kheiron (ML,medical imaging),Arctoris (robotics), Turbine (computational biology), Relation Therapeutics (ML/drug discovery)

Vishal’s direct investment experience includes over 15 years spent at leading venture capital firms, DFJ-Esprit (Molten Ventures), Atlas Venture and Oxford Science Enterprises. Vishal has since been invited to serve as independent chair/member of investment committees of other healthcare funds, including KHP Ventures, Cancer Research (UK) Seed Fund and University of Cambridge seed fund.

Vishal’s access and influence is expanded further by his advisory roles at the Francis Crick Institute, Reuben College, University of Oxford,British Heart Foundation, and RAND Corporation (Europe)

Vishal trained as a physician in India and continued his postgraduate training and research at the Nuffield Department of Medicine, University of Oxford and Imperial College where he also held visiting faculty position from 2003 to 2008. He is a recipient of several academic awards including two Medical Research Council fellowships, the prestigious UNESCO MCBN Fellowship and the Rhodes Scholarship.

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team member

Armen A. Vidian

Founder and Managing Partner

Armen has nearly 30 years of experience as an engineer, entrepreneur, and investor in technology and healthcare. Armen started his career creating first-in-class products in medical technology. He then co-founded BlueTalon [acquired by MSFT], which initially focused on the interface between data federation and clinical trials. His experience in healthcare and technology has focused his interests on the application of generative AI, robotics, AR/VR, and brain-computer interfaces in healthcare and the life sciences.

After BlueTalon, Armen was an early Partner at DCVC, the first venture capital firm with an AI-centric thesis. At DCVC, he played a leadership role in the investment of the first companies applying AI to healthcare and the life sciences. Some of Armen’s board responsibilities included: Board Chairman at Caption Health [acquired by GE HealthCare]; and Board Director at Proprio. In addition to these responsibilities, Armen led or co-led investment in AbCellera [NASD: ABCL], Recursion [NASD: RXRX], and Healthmode [NASD:MNMD].

Armen holds an S.B. in Mechanical Engineering from the Massachusetts Institute of Technology (MIT) and an M.S. in Management Science and Engineering from Stanford University. His history with data and healthcare goes back to college, during which he co-authored a paper on the use of autoregressive moving average analysis (ARMA) to characterize baroreflex gain in a 1996 issue of the American Journal of Physiology: Heart and Circulation. Originally from Racine, Wisconsin, Armen’s perspective as a venture capitalist is influenced as a first generation college graduate.

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team member

Lloyd Appel, CFA, CPA


Lloyd Appel has over 30 years of financial management experience, mostly as the Chief Financial Officer of alternative asset firms, including hedge funds and venture capital funds.

Prior to that, Lloyd was the CFO of two venture capital firms – focused on technology and/or life science investments.  Previously, Lloyd was the CFO or controller of several hedge funds, as well as the controller of a large multi-strategy alternative asset platform.  Lloyd began his career at BDO, where he left as a financial services audit manager.

Since 2020, Lloyd has been consulting for numerous established and start-up venture capital funds by providing strategic guidance, setting up and maintaining books and records, writing policies, assisting with service provider selections and relationships, and coordinating compliance responsibilities.

Lloyd received a BA in Accounting and Economics from Queens College.  He is a CPA and a CFA.

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team member

Oscar Marshall

Venture Fellow

Oscar joined Recode as a Venture Fellow in 2022. Concurrently with his work at Recode, he is pursuing a Ph.D. in biochemical engineering at Imperial College London, where his work is focussed on developing a cell-free protein synthesis platform capable of glycosylation. Oscar’s work experiences include a fellowship at Flagship Pioneering and internships at McKinsey and Bain.

Before pursuing his Ph.D., Oscar completed his M.A. at the Francis Crick Institute, exploring the functional role of the SMC5/6 complex in the TopoIIa dependent arrest at G2 to support the development of novel oncological therapies harnessing the principle of synthetic lethality. He studied for his undergraduate degree in Biochemistry at Oxford University.

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team member

Julie Norledge

Executive Assistant

Julie has worked at Recode since 2022 as an Executive Assistant and Office Manager. She over two decades of experience in supporting and being a trusted ally to Owner/Founders and Entrepreneurs. She has worked 1:1 in a diverse range of industries from Film & TV Production, Legal to Luxury Retail. With a commitment to excellence and attention to detail, Julie provides unwavering administration and back-office organisation.