Participated · Equity · Aug 2026

Databricks operates a cloud data platform and AI products, with its core cloud data warehouse generating $1.5 billion of its annualized run-rate revenue and growing 100% year-over-year. The company reported a $7 billion annualized run-rate revenue figure while growing at roughly 80% and being cash-flow positive. Databricks launched Lakebase in June 2025, which has reached a $100 million revenue run-rate, and its AI chatbot tool Genie is described as highly popular. The company maintains a roughly 100-person AI research team and faces multi-billion-dollar cloud commitments with major hyperscalers. Databricks has been active on the M&A front, acquiring companies including Electric (PGlite) and AI cybersecurity firm Panther, and it says it plans to continue investing in AI and acquisitions while remaining open to a future IPO.

Participated · Series B · Feb 2023

Novata offers a technology platform and ESG solution designed to help private-market investors collect, manage, and analyze non-financial data. The platform streamlines data collection, provides benchmarking and analytics, and contextualizes metrics to inform reporting and action. Novata launched commercially in April 2022 and added benchmarking capabilities in November 2022 to enable comparisons against public and private market industry averages. The company reports more than 3,500 private companies contracted to use its platform. Novata positions itself as a neutral, partner-agnostic intermediary to improve ESG transparency and reliability across the private markets. It is structured as a public benefit corporation and is majority controlled by mission-driven organizations and its employees. Novata offers a three-part, open-architecture ESG solution for private markets that includes a streamlined ESG reporting framework, a contributory database, and a secure, fee-based platform for data capture, analysis, reporting and benchmarking. The company positions its framework as free for all companies immediately to leverage, with a paid platform for objective ESG data and benchmarking against private and public peers. Novata was formed in partnership with the Ford Foundation, S&P Global, Hamilton Lane and Omidyar Network and is majority-controlled by mission-driven organizations and its employees. Beta customers are slated to access the platform before the end of the year, with broad access due to launch in early 2022. The company emphasizes an ecosystem approach that brings together non-profit and for-profit sectors to drive impact toward inclusive capitalism. Novata’s founding consortium and approach aim to address fragmentation in private-market ESG standards.

Led · Equity · Dec 2022

Fanatics began as an e-commerce seller of sports gear and has expanded into a broad sports platform that includes apparel, collectibles, betting and gaming. The company has amassed a database of more than 94 million fans. This year it acquired Topps for $500 million and, in partnership with LeBron James and Kevin Durant, bought Mitchell & Ness. Fanatics signed a long-term deal with Nike to manufacture college sports fan apparel and recently signed Japan’s Tokyo Giants. The company is preparing to launch sports betting in 2023 and projects that betting plus other segments could yield up to $8 billion in annual profit over the next decade. Fanatics estimates revenue, including its Lids segment, will be approximately $8 billion in 2023 and is weighing an initial public offering. Fanatics operates a large sports commerce business selling licensed apparel and fan gear directly to customers for leagues, teams and players. While commerce remains its biggest revenue source, the company has expanded into Collectibles (including its acquisition of Topps), an NFT arm through majority ownership of Candy Digital, and a fledgling betting and gaming division. Fanatics says it is positioning itself as a “global digital sports platform” and describes itself as a tech company. The firm projects $5 billion in revenue this year, up from $2.2 billion in 2017. The company has raised a total of $4.2 billion in funding, according to Crunchbase. Leagues, players’ associations and team owners are now strategic stakeholders as Fanatics broadens beyond its legacy merchandising business. Fanatics separated its trading-card business from its merchandise operations in August and has secured licensing rights that cover MLB, the NFL and the NBA. One month after capturing those league licenses it raised a $350 million funding round that values the trading-card unit at more than $10 billion. Management has recruited executives such as former IAC CFO Glenn Schiffman and launched related initiatives like NFT company Candy Digital to position the business as a technology-enabled collector platform. Fanatics plans to integrate services for collectors — insurance, grading, storage and a marketplace — and to collect transaction fees across those offerings. The company has indicated it may acquire an existing card maker (Upper Deck is cited as a likely target) rather than build manufacturing from scratch. Critics note the licensing rights do not transfer for a few years and some observers call the agreements akin to futures contracts; traditional card manufacturers together are expected to generate close to $1 billion of EBITDA this year, a benchmark cited in valuation discussion. Fanatics operates as a sports-focused e-commerce retailer, selling licensed apparel and merchandise for major leagues, clubs and athletes and also running some physical retail locations. The company has commercial partnerships with the NFL, MLB, NBA, NHL, MLS, NASCAR, European soccer clubs and more than 300 individual teams, and recently signed a multi-year online merchandising deal with athlete Marshawn Lynch. Fanatics reported $2.5 billion in revenue in 2019, and its sales were up slightly in the first half of 2020 as roughly 30% e-commerce growth offset losses from its brick-and-mortar stores during the sports shutdown. Management plans to use new capital to accelerate rights acquisition and pursue further M&A activity. The company is majority controlled by executive chairman Michael Rubin through his holding company Kynetic, which owns nearly half of Fanatics. Fanatics is expected to make an initial public offering its next capitalization step, though no timetable has been announced. Fanatics is a Jacksonville, Fla.-based sports e-commerce company that helps leagues and teams sell licensed apparel and fan gear directly to customers. It sells and sometimes manufactures team jerseys and other products and in April acquired Majestic sportswear, which has made Major League Baseball on-field uniforms. The company is headed by CEO Doug Mack, who joined three years ago, and executive chairman Michael Rubin remains an active entrepreneur. Rubin's e-commerce holding company Kynetic holds stakes in former GSI subsidiaries including Rue La La, ShopRunner and Fanatics. Fanatics says it expects to generate $2.2 billion in revenue this year. The company has focused on selling primarily through its own site and has taken actions against unauthorized sellers on platforms such as Amazon.

Led · Series B · Jan 2022

Iterative Scopes builds proprietary artificial intelligence and computer vision technologies to improve endoscopy interpretation, polyp detection and disease severity characterization in gastroenterology. Its product suite includes SKOUT, an automated polyp detection tool (CE marked in Europe; 510(k) submitted in November 2021) and an AI Recruitment service to accelerate IBD clinical trial enrollment. The company is also developing novel endoscopic scoring systems intended to provide more consistent, individualized measures of GI disease and to establish more meaningful endpoints for drug development and clinical care. Iterative Scopes was spun out of MIT in 2017 and is based in Cambridge, Massachusetts. The company plans to scale technical and clinical operations to accelerate product development and broaden clinical applications. Financially, it has been actively fundraising, having completed a Series A in August 2021 and announcing a new Series B to further its R&D and commercialization efforts. Iterative Scopes builds proprietary AI and computer-vision algorithms to extract and standardize insights from endoscopic videos for colorectal cancer and inflammatory bowel disease. Its initial products include SKOUT, a polyp detection algorithm, and technology that automates Mayo Endoscopic Score (MES) interpretation from colonoscopy videos. The company is aggregating longitudinal datasets by linking endoscopic data with genomic, molecular, and phenotypic information to enable predictive models for individualized therapeutic selection and novel trial endpoints. Iterative Scopes is pursuing commercial reach through an exclusive AI partnership with ProVation to integrate into community and academic GI workflows. It is also positioning its tools to help biopharma sponsors improve patient selection, reduce trial costs, and increase reproducibility of endpoints. The business recently completed a $30 million Series A to further develop its core algorithmic innovations and expand its life sciences offerings. Iterative Scopes is a software-only gastrointestinal data company spun out of MIT in 2017 that develops computer-vision AI toolkits for gastroenterology. Its core product applies computer vision analytics to complex endoscopy problems to deliver real-time actionable insights in the endoscopic suite. The team works with over 40 medical centers and hospitals to develop physician-centric models of care. The company closed a $5.2M seed round, bringing total funding to over $7M. The investment will support progress through clinical trials and commercialization of its proprietary computer vision technology in 2020. Management said it is on track to deliver a number of products into the gastrointestinal endoscopic suite working alongside physicians to improve patient outcomes.

Participated · Series A · Jan 2022

Kiddo (Good Parents Inc.) builds a B2B care coordination platform combining a proprietary wristband wearable, a parent app, parental coaching and telehealth to manage pediatric chronic conditions. The system monitors heart rate, temperature, SpO2, motion and perspiration and integrates environmental metrics like local air quality, weather and humidity to develop individualized profiles and generate alerts and care tips. It targets children aged two to 15 and specifically focuses on asthma, heart disease, autism and diabetes. Kiddo says it is working with 70,000 children and plans to expand to about 200,000 in the next few years. The company positions itself as a B2B provider partnering with hospitals, health systems and benefits providers, and has partnerships with seven health systems and organizations including UHC Optum and PC Health. Kiddo is investing in clinical validation, has unpublished internal data claiming more than 50% improved treatment adherence and a twofold reduction in unnecessary ER visits, and is aiming for Class I FDA certification (it has not received marketing clearance). With the new funding it plans to grow its sales and product development teams and expand into additional pediatric specialties such as oncology and orthopedics over the next two years. GoodParents develops Kiddo, a children’s wearable sold in three age-specific devices (4–6, 6–8, 8–10) that tracks temperature, perspiration, heart rate, fat percentage, muscle mass, and motion. Sensor data is relayed to a parental dashboard that converts health, activity, sleep, and emotional wellbeing into scores and supports manual logging such as food. The product includes gamification to engage kids — gesture-based multiplayer games and point systems for health goals redeemable for rewards — while the company emphasizes health and stress management as the central use case. GoodParents is a one-year-old startup that has partnered with Samsung and consulted advisers at the Foods for Health Institute at UC Davis in product development. The company plans a direct-to-consumer launch starting with a Kickstarter in January 2017 and also intends to sell via health plans and employers; it has already secured a collaboration with a top-10 health insurer and another B2B customer. Financially, GoodParents has raised $2 million in seed capital to advance product development and go-to-market plans.