Participated · Seed · Oct 2022

Fabric Systems develops crypto hardware, focusing on an immersion (liquid)‑cooled bitcoin miner and a dedicated processor for advanced cryptographic algorithms like zero‑knowledge proofs. The company says its Bitcoin miner will set a new industry standard for energy efficiency, cost and form factor and will be the first out‑of‑the‑box immersion‑cooled machine. Most of the newly raised capital will be allocated to the Bitcoin miner development, with a portion reserved for pilot experiments on the zero‑knowledge‑proof processor. Fabric aims to have machines in full production and mining at customers' facilities by the end of next year. The startup is positioning a more efficient computer to attract crypto miners during a down market. The company acknowledges the difficulty of entering a market largely controlled by large incumbents.

Participated · Seed · Aug 2022

Nitra embeds AI agents into core business functions—payments, procurement, inventory management, scheduling, and insurance verification—giving medical practices a single system to run their back office. Its financial suite includes a Visa-powered expense card, bill pay, patient payment processing, and AI-driven accounting, while its commerce marketplace connects users to thousands of biopharma and medical-supply products through partners like McKesson and Medline. Recently the company added a voice-AI patient management module that handles appointment scheduling and insurance eligibility checks. In 2025 the platform’s annualized revenue jumped from $4 million to more than $33 million on 740 percent growth, and it surpassed $1 billion in annualized processing volume across thousands of doctors in over 700 clinics. December 2025 saw a single-day record of roughly $9 million in purchases. Management expects to serve 3,000+ clinics, top $150 million in annualized revenue, and exceed $4 billion in processing volume during 2026. Founded in 2024 by CEO Tim Hwang and President Jonathan Chen, Nitra plans to expand headcount from about 50 to over 200 and roll out new AI modules for revenue-cycle management, patient marketing, payroll, and staffing.

Participated · Equity · Aug 2022

Cera operates a technology platform that equips its 10,000 carers and nurses with an app for scheduling visits and logging patient observations, creating one of Europe’s largest home-health data sets. Its AI models analyze this unstructured data to forecast events such as falls or hospitalizations up to a week in advance, enabling interventions that the company claims cut hospital admissions by up to 70%, reduce patient falls by 20%, and speed hospital discharges fivefold. Serving roughly 30 million people, Cera works with more than 150 local governments and two-thirds of NHS Integrated Care Systems, positioning itself as the UK’s largest non-NHS healthcare provider. Independent analysis by consultancy Faculty estimates the model saves the UK healthcare system £1 million daily. Financially, Cera says it achieved EBITDA profitability in 2023 and became free-cash-flow positive in 2024, allowing it to fund expansion largely through debt. The company continues to broaden its service lines to include nursing, physiotherapy, learning-disability support, physical-disability care, and in-home mental-health services.

Participated · Series A · Mar 2022

Luminous is developing a custom AI supercomputer stack centered on proprietary silicon photonics to eliminate data‑movement bottlenecks and improve performance and programmability. The company is building nearly every part of the stack from chips to software, aiming for order‑of‑magnitude gains in performance and simplified programming models. Luminous says its work will enable much larger, more efficient AI models and support commercial‑scale AI applications. The company plans to double its engineering team and is actively recruiting photonics designers, digital and analog VLSI engineers, packaging and system integration engineers, and machine learning experts. Funding announced in the articles will support custom chip and software development and gearing up for commercial production. Luminous frames its mission around delivering useful, usable, and safe AI by providing the hardware needed to run tomorrow’s AI applications. Luminous Computing is developing photonics chips designed to handle AI workloads by using light to move and multiply dense arrays of data at high speed. The company says its approach will remove major bottlenecks that traditional processors struggle with, and its architecture is based on CTO Mitchell Nahmias’ Princeton research. The one-year-old, seven-person startup was founded by Michael Gao, CEO Marcus Gomez and Nahmias; Gomez and Gao have prior software and data-science experience. Luminous reports it already has working silicon and aims to ship development kits within the next few years. The company claims a single chip could replace the computing power of roughly 3,000 Google TPUs. It raised capital to grow the team and specifically hire people with semiconductor industry experience to accelerate engineering and development.

Participated · Equity · Oct 2021

Infinium is an electrofuels provider that makes ultra-low carbon eFuels—including eSAF (sustainable aviation fuel), eDiesel and eNaphtha—via a proprietary process combining water, waste CO2 and renewable energy. Its fuels are drop-in replacements that can be used without changes to existing engines or infrastructure. Infinium brought commercial volumes to market with Project Pathfinder and is developing Project Roadrunner in West Texas to scale production and serve aviation, trucking, maritime and chemical markets. The company has an offtake agreement with American Airlines for commercial volumes from Project Roadrunner starting in 2026 and is progressing additional offtake contracts for remaining plant capacity. To accelerate growth, Infinium has secured a strategic funding partnership with Brookfield, which committed more than $200 million to Project Roadrunner and up to an additional $850 million for other projects. Breakthrough Energy Catalyst previously made a $75 million conditional commitment to Roadrunner. Infinium says it has a large pipeline of well-positioned projects to meet growing demand for eFuels. Infinium produces electrofuels—synthetic drop-in fuels made from renewable power and waste carbon dioxide—targeting aviation, trucking, maritime and chemical markets. Its core products include Infinium eSAF for aviation, eNaphtha for plastics manufacturing, and eDiesel for hard-to-electrify transport. The company is developing Project Roadrunner, a brownfield conversion in West Texas expected to be the largest Power-to-Liquids eFuels facility in North America when operational. Infinium has numerous projects in development across the U.S., Europe, the Middle East, Japan and Australia. Financially, the company secured a $75 million project equity commitment from Breakthrough Energy Catalyst to support Project Roadrunner, subject to closing conditions. A firm offtake agreement with American Airlines and Citi’s agreement to take associated emission reductions provide commercial support intended to enable further investment and project financing. Breakthrough Energy Catalyst’s commitment is noted as its first equity investment to date. Infinium converts renewable electricity into green hydrogen and combines it with waste carbon dioxide to produce Infinium Electrofuels™, ultra-low carbon liquid fuels for aviation, marine and heavy-duty trucking. The fuels are designed as drop-in replacements for conventional jet fuel and diesel with no changes to infrastructure or engine design. Founded in 2020 and based in Sacramento, Calif., the company leverages proprietary solutions its founders have developed over a decade. Infinium closed $69 million in additional funding to advance commercialization and will primarily use the capital to complete development of large-scale production facilities. Each planned facility is expected to produce nearly 40 million gallons of electrofuels annually and mitigate more than 300,000 metric tons of CO2 each year. The company positions its technology as a fast route to decarbonize key transportation sectors.