DxAngels | Digital Health Syndicate

Early Doximity Team
Investing in Digital Health

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 health tech 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 expand the capital and expertise they could bring to digital health startups.

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.

Managing 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 at the VA.

Early stage checks

Investing in pre-seed to series A health startups

DxAngels invests $300k–$500k in seed and series A digital health 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.

Our family fund also writes angel checks into digital health startups, from conception to growth stage.