Led · Series B · Mar 2021

Wiz develops cloud security software focused on securing what organizations build and run in the cloud, centering on its Cloud Native Application Protection Platform (CNAPP). The company has acquired Gem Security (a Cloud Detection and Response provider) and Raftt as it expands and enhances its platform. Wiz plans to use new funding for M&A, talent recruitment, and product development, and is considering an eventual IPO. Customers include Salesforce, Slack, Mars, BMW, Avery Dennison, Priceline, Cushman & Wakefield, DocuSign, Plaid, and Agoda. The company was founded in 2020 and is led by CEO Assaf Rappaport with recently added COO & President Dali Rajic. Wiz reported $350M ARR in 2023. Wiz provides an agentless, API-centered cloud security platform that analyzes public cloud infrastructure (AWS, Azure, Google Cloud and others) and correlates signals across network, identity, secrets and workloads via a Wiz “security graph.” The product surfaces actionable risk alerts and prioritization so developers and managers can fix the most critical issues quickly. Wiz claims it scaled from $1M to $100M in ARR in just over 18 months and counts 35% of the Fortune 100 among its customers. The company says the new capital will be used for product development and hiring, with plans to expand in the U.S. and grow its federal government footprint. Wiz has rapidly expanded headcount, growing from roughly 500 employees in summer 2022 to 650 today and plans to double its workforce by the end of the year. The company is New York–based and was founded in March 2020; it is now valued at around $10 billion post-money. Wiz offers a platform designed to help companies secure their cloud infrastructure at scale. The company emerged from stealth three months prior to the article. It is co‑founded by Assaf Rappaport, Ami Luttwak, Yinon Costica and Roy Reznik. Wiz intends to use newly raised funds to expand operations and broaden its business reach. The article does not disclose operating metrics such as revenue or user counts. The company is positioned in the cloud security market with teams in Palo Alto and Tel Aviv. Wiz offers a cloud-native security product designed to secure cloud infrastructure at scale and emerged from stealth with paying customers, including Fortune 100 companies. The company was founded in January 2020 by former leads of Microsoft’s Cloud Security Group and the founding team of Adallom. Founders include Assaf Rappaport (CEO), Ami Luttwak, Yinon Costica and Roy Reznik, who have worked together for more than 15 years. Adallom, the team’s prior company, was acquired by Microsoft in 2015 for $320m. Wiz’s product is already in commercial use and the company intends to use the new capital to scale to meet customer demand. The company is based in Palo Alto, California and Tel Aviv, Israel.

Participated · Series D · Jun 2019

Acutus Medical develops next-generation electrophysiology technology, centered on its AcQMap cardiac imaging and mapping system. AcQMap integrates precision ultrasound atrial anatomy reconstruction with high-definition non-contact charge density mapping and also provides contact mapping capabilities in Europe. The system's increased clarity of arrhythmia pattern mapping supports the development of patient-specific ablation strategies. In June 2019 the company raised $170M — a $100M Series D equity round and a $70M credit facility — to accelerate commercialization and global business development. Proceeds are earmarked to increase market availability of FDA- and CE-marked AcQMap products and a suite of FDA-cleared, EP-designed vascular access products including AcQCross QX, AcQGuide Flex and AcQGuide Mini. Founded in 2011 by Vince Burgess and based in Carlsbad, California, Acutus positions itself to expand adoption of its electrophysiology solutions worldwide. Acutus Medical develops an intracardiac mapping system that provides dynamic arrhythmia visualization to help electrophysiologists view the heart's true activation pattern. The system is used to treat patients with complex atrial arrhythmias. The company is Carlsbad-based. According to a regulatory filing, Acutus has raised $22.8M as part of an ongoing $25M fundraising effort. The recent investment was structured as debt plus warrants from eight investors and has not yet been announced by the company. Acutus has previously raised funding from Deerfield Management Company, Xeraya Capital, Advent Life Sciences, OrbiMed and GE Ventures, though it is unclear which of those investors participated in this latest filing. Acutus Medical commercializes the AcQMap High Resolution Imaging and Mapping System, which creates three-dimensional, high-definition maps of heart chambers and electrical activity in real time to help electrophysiologists diagnose and treat complex arrhythmias. The system is designed to identify arrhythmia mechanisms, guide catheter ablation therapy, and provide immediate feedback by rendering a new complete map on the next heartbeat to confirm therapy effectiveness. The company is pursuing CE mark approval in Europe for the full AcQMap product suite and is preparing for commercialization in the U.S. and Europe. Proceeds from the recent financing will fund continued product development across the AcQMap suite, expansion of clinical programs worldwide, and building U.S. and European sales forces. Acutus is a privately held heart rhythm technology company based in Carlsbad, California. The company describes itself as moving from an early-stage startup toward commercial launch as it completes regulatory and clinical milestones. Acutus Medical is a San Diego-based medical device company that develops the AcQMap System, a minimally invasive real-time 3D Cardiac Chamber Imaging and Dipole Density Mapping system to identify sources that cause or sustain complex cardiac arrhythmias, including atrial fibrillation. The company completed an additional $26.2M financing to support its operations. Management said the funds will be used to expand the product portfolio and to continue to innovate and validate the AcQMap System. Acutus is broadening its offerings to include diagnostic catheters, therapeutic catheters and additional therapeutic products. The company will also collaborate with Boise State University to develop an innovative therapeutic technology. Randy Werneth serves as President and CEO. Acutus Medical develops a minimally invasive cardiac catheter and a real-time 3D Cardiac Chamber Imaging and Dipole Density Mapping system intended to identify the origin of irregular heartbeats and improve treatment of atrial fibrillation. The company plans to use recent funding to support product development, clinical trials, regulatory approvals and early commercialization. Acutus was established in 2011 and is based in San Diego, CA. It is led by CEO Randy Werneth and had a team of 25 employees at the time of the report. The company’s core offering emphasizes mapping and dipole density imaging to allow more accurate identification and treatment of arrhythmia sources.

Participated · Equity · Mar 2015

WorldStores is an online home and living products retailer that also operates Casafina, a membership-based flash sales platform. The company sells furniture and related products through its e-commerce channels. New capital will fund strategic developments including an in-house fulfilment fleet to enable a 1-hour window next-day delivery to more than 90% of the UK population, seven days a week. WorldStores also plans to invest heavily in customer acquisition to grow Casafina. Management reports annual run-rate revenues in excess of £100 million. The company is positioning itself as an online, scalable alternative to traditional furniture retailers. WorldStores operates an Amazon-style ecommerce marketplace focused on home and garden products. It currently ranges more than 500,000 product lines and connects over 800 suppliers directly to its technology platform. Supplier integration enables next-day or day-of-choice delivery on 80% of the items it sells. The company reported sales growth of 50% last year and added more than 200,000 new customers in the past 12 months, targeting £75 million of sales in 2013. WorldStores plans to use the new funding to grow its supplier network and further expand its product range, aiming to leverage breadth of choice versus competitors like IKEA. WorldStores operates an e-commerce platform selling products for the home and garden through a network of specialist web stores. The company currently runs 77 specialist web stores, including BedroomWorld.co.uk, GardenFurnitureWorld.co.uk and ShedsWorld.co.uk. Founders and co-CEOs are Joe Murray and Richard Tucker. WorldStores has raised new funding to support expansion into additional product categories and to further develop its delivery and service offering. The company announced a £8.5m funding round to execute these plans. As part of the deal, Advent Venture Partners and existing investor Balderton Capital are involved and a partner from Advent will join the board.

Participated · Series D · Apr 2014

Farfetch operates a global e-commerce marketplace and technology platform for the luxury fashion industry, connecting customers in over 190 countries with items from more than 50 countries and over 1,300 brands, boutiques, and department stores. Its businesses include Farfetch Platform Solutions (enterprise e‑commerce and tech services), retail brands Browns and Stadium Goods, and the New Guards brand-development platform. The company invests in retail technology and innovation, including a "store of the future" augmented retail solution. Farfetch plans to expand its footprint across China via a strategic partnership and joint venture with Alibaba and Richemont, and to launch on Alibaba’s Tmall Luxury Pavilion, Luxury Soho and Tmall Global. The partnership also establishes the Luxury New Retail initiative to accelerate digitisation across the luxury industry. Financially, the company secured a package of strategic investments announced in 2020–2021, including convertible notes, a China JV equity investment and a share purchase by Artemis. Farfetch operates a marketplace for luxury brands and multi-brand retailers, partnering with merchants to sell high-end fashion. The company has focused on expansion in Asia and in the prior year raised $110 million specifically to support that effort. In China—where Farfetch launched in 2014—the company had become its second-largest market and partnered with about 200 brands and 500 multi-brand retailers. The new strategic partnership with JD.com gives Farfetch access to JD’s logistics network (including JD Luxury Express), online payment and microcredit tools, social-media resources such as its partnership with WeChat, and big data. CEO Jose Neves highlighted the alliance’s role in helping Farfetch combat counterfeit products among Chinese luxury consumers. The deal makes JD.com one of Farfetch’s largest shareholders and includes a board seat for JD’s founder and CEO, Richard Liu. Farfetch operates an e-commerce platform that connects fashion lovers with a global community of independent boutiques through a single website. The site aggregates inventory from more than 2,000 brands and serves fashion-forward consumers. Founded in 2008 and led by José Neves, the company maintains offices in London, New York, Los Angeles, São Paulo and Porto. In April 2016 Farfetch raised $110M in a Series F funding round. The company has raised over $305M to date. It intends to use the new funds to continue to expand operations globally. Farfetch is a London-based online marketplace that connects high-end retailers and boutiques to global consumers without holding inventory. Founded in 2007, the platform aggregates roughly 300 businesses and reports about 450,000 users. Its gross merchandise value is around $1 million per day, and the average customer basket is $600–$700. The company expanded beyond Europe and the U.S. into China, Russia and Japan and plans further growth into markets such as Latin America, Germany, South Korea and Spain. Farfetch is investing in growth, and it is not clear whether it is currently profitable; it has raised nearly $200 million to date. Management says the new capital will be used to continue global expansion and may keep the company private for now with a potential IPO considered in the next couple of years. Farfetch, launched in 2008, operates an e-commerce marketplace that brings independent fashion boutiques from Europe and North America under one roof. The site curates a network of more than 300 boutiques, listing designer brands such as Fendi, Gucci, and Chloé alongside emerging designers. It offers clothing for both men and women and aggregates boutiques from cities including Paris, New York, Milan, Bucharest, Helsinki, and Honolulu. The company reports annual sales of $275 million and year-on-year growth of 100 percent. Farfetch says the investment will fund international expansion in the U.S., Brazil and Asia and advance its omni-channel strategy. Plans include developing local-language sites for markets such as Russia, Japan and China and accelerating engineering work to improve the site's responsiveness.

Participated · Series D · Oct 2013

Versartis is a Redwood City, California-based endocrine-focused biopharmaceutical company led by CEO Jeffery L. Cleland, PhD. The company develops VRS-317, a novel long-acting form of recombinant human growth hormone for the treatment of growth hormone deficiency (GHD). It completed a $55M Series E financing that brought total capital raised to $132M. Investors in the round included existing backers Sofinnova Ventures, Aisling Capital, New Leaf Venture Partners and Advent Life Sciences alongside five undisclosed new life-science investors. Versartis intends to use the funds to prepare for an international Phase 3 pediatric GHD trial of VRS-317. Previous financings noted in the article include a $25M Series C, a $20M Series D and a $21M Series B. Versartis is developing VRS-317, a once-monthly long-acting recombinant human growth hormone, from its Redwood City, California base. VRS-317's extended half-life derives from XTEN, technology licensed from Amunix that uses natural amino acids to extend protein drug half-life; the company says this approach is cheaper and more effective than polyethylene glycol. The drug impressed in a Phase I study in adults with growth hormone deficiency and is currently in a 30-site Phase IIa trial in pre-pubescent children measuring growth at three and six months. Management says the recent financing will fund completion of mid-stage work and position the company to begin a Phase III study next year. Versartis has raised more than $65 million since its 2008 founding, including a $21 million Series B in early 2011 and $45 million in venture capital this year to date. The company presents itself as a leader in long-acting growth hormone therapy. Versartis is developing novel therapeutic proteins for endocrine disorders from its base in Redwood City, CA. Its lead product, VRS-317, is a proprietary once-monthly form of recombinant human growth hormone (rhGH). The company is evaluating VRS-317 for pediatric growth hormone deficiency (GHD) in a clinical trial being conducted at approximately 30 sites in the United States. Versartis develops proteins using its XTEN half-life extension technology, a hydrophilic amino acid sequence expressed as a fusion with an active peptide or protein. The company plans to use new capital to support clinical trials of VRS-317. Jeffrey L. Cleland, PhD, serves as Chief Executive Officer. Versartis is developing novel therapeutics for endocrine disorders using Amunix’s XTEN half-life extension technology, expressed as fusion proteins with therapeutic peptides or proteins. Its lead product, VRS-317, is a once-monthly form of recombinant human growth hormone being developed for adult and pediatric growth hormone deficiency (GHD). The company completed a $21M Series B to fund clinical trials of VRS-317. Versartis says XTEN-enabled compounds are expected to improve efficacy and patient compliance, reduce side effects, prolong half-life (up to monthly dosing), lower production costs and enhance stability. The company expanded its board to five members, with representatives from New Leaf Venture Partners, Index Ventures, Advent Venture Partners and Amunix joining alongside Versartis’s CEO. Versartis is a pharmaceutical company formed as a 50/50 joint venture between Index Ventures and Amunix to develop treatments for diabetes and metabolic disease. Amunix provided the preliminary research for three candidate drugs, and Versartis is responsible for their development. The team says advancing a single drug through Phase I could position the company for acquisition, a process they estimate could take less than 18 months. Index Ventures provided $11 million in first-round funding and has the option to invest an additional $5 million if more time is needed. Versartis’s financial runway and near-term strategy are therefore tightly linked to Index’s staged funding commitment and the progress of its lead programs.