Participated · Equity · Feb 2025

VitalConnect is a leader in biosensor technology focused on ambulatory cardiac monitoring. Its proprietary biosensor streams eight vital signs and biometric parameters live over a seven-day wear period. The company leverages biomedical engineering, data analytics, chip design, and mobile and cloud software to support clinical decision making and better health and economic outcomes. Its products are designed for use in both remote and in‑patient settings to deliver lower‑cost care and greater convenience for patients and providers. Four years after its commercial launch, VitalConnect reports commercial growth and plans to expand its commercial presence. The company closed $100 million in financing (equity and debt) to accelerate that expansion. VitalConnect develops wearable biosensors and a cloud/mobile platform (the VitalPatch) for real-time remote and in-hospital monitoring. The company leverages biomedical engineering, data analytics, chip design and software to support clinical decision-making and lower healthcare costs. VitalConnect has deployed hundreds of thousands of biosensors globally at institutions including Brigham and Women’s, Hackensack Medical Center, Northwell Health and John Radcliffe Hospital‑Oxford University. The new funding will support a rapidly growing remote cardiac monitoring business and help advance partnerships with the largest U.S. hospital systems to provide remote patient monitoring in inpatient settings. VitalConnect reports revenue tripled from 2021 to 2022, is on track to nearly double revenue again in 2023, has seen significant EBITDA improvement, and expects to achieve profitability in 2024. VitalConnect is a leader in wearable biosensor technology, offering the VitalPatch for real-time remote and in-hospital monitoring. Founded in 2011 and based in San Jose, Calif., the company combines biomedical engineering, data analytics, chip design, and mobile and cloud software to support clinical decision-making. Its devices have deployed hundreds of thousands of biosensors worldwide and are used in care facilities including Brigham and Women's, Hackensack Medical Center, Northwell Health, and John Radcliffe Hospital–Oxford University. Products target a broad range of inpatient and outpatient use cases such as hospital monitoring, post-discharge care, cardiac monitoring, and pharmaceutical solutions. VitalConnect reports strong physician adoption and growth over the past 18 months since launch. The company plans to use new funding to accelerate its cardiac monitoring business and advance remote patient monitoring for heart failure, COPD, sepsis, and other conditions, strengthening commercial access to patients and providers. VitalConnect’s flagship product, the VitalPatch, enables real-time remote and in-hospital patient monitoring. The company combines biomedical engineering, data analytics, chip design, and mobile and cloud software to support clinician decision-making. VitalConnect has deployed more than 200,000 patches worldwide and is used at institutions including Brigham and Women’s, Hackensack Medical Center, Northwell Health, and John Radcliffe Hospital–Oxford University. The company announced a $39 million growth financing to expand its commercial team, scale operations, and develop new products to drive top-line growth. The round was funded by EW Healthcare Partners alongside other new and existing investors, and EW Operating Partner Robert S. White joined VitalConnect’s board. VitalConnect’s products target inpatient and outpatient settings such as hospital monitoring, post-discharge care, cardiac monitoring, and pharmaceutical solutions. VitalConnect develops the VitalPatch wearable biosensor and a software platform for wireless patient monitoring in hospitals and remote settings. The VitalPatch is a small, single-use Class II FDA-approved, band-aid-like device that continuously measures eight vital signs in real time. The company's software platform is already being implemented in select hospitals. Led by founder and CEO Nersi Nazari and launched in 2011, VitalConnect is focused on product development and broader clinical rollout. The company plans to use new funding to continue product development and to roll out the VitalConnect Platform and VitalPatch across hospitals and outpatient settings nationwide. The company has completed multiple funding rounds prior to the current Series C.

Participated · Equity · Dec 2021

Venus Concept develops medical aesthetic device platforms and hair restoration technologies, including Venus Versa and ARTAS iX. The company operates in over 60 countries and targets demand for non‑invasive and minimally invasive procedures. Management is focused on optimizing the capital structure and streamlining operations to pursue sustained profitability. On September 26, 2024 Venus Concept exchanged $15 million of senior debt for equity as part of that effort. The company issued 203,583 shares of Series Y preferred stock in the transaction. Total debt obligations were reduced to approximately $34.6 million, down from $46 million three months earlier and $74.9 million at the end of 2023. Venus Concept has raised $115.72 million to date, was founded in 2009, and is based in Weston, Florida. Venus Concept Inc. announced receipt of $16.998967 million in funding from Masters Special Situations, LLC, Essex Woodlands Management, Inc., HealthQuest Capital, Masters Capital Management, L.L.C. and other investors. Concurrent with the financing, the company entered into a stock purchase agreement for a non‑brokered private placement. The private placement covers 9,808,418 common shares of par value $0.0001 and 3,790,755 preferred non‑voting shares. The transaction therefore involves issuance of both common and preferred equity securities. The announcement and disclosure focus on the financing and share issuance rather than operational or product details. Venus Concept develops, commercializes, and delivers aesthetic technologies and related practice enhancement services using a subscription-based business model. The company’s devices are designed to expand beyond traditional dermatology and plastic surgery markets into non-traditional settings such as family practice, general practice, internal medicine, obstetrics and gynecology, and medical spas. Venus Concept sells its devices in over 60 countries and operates 27 direct global offices. The company has expanded its subscription platform and employs over 400 global employees. Led by Chairman and CEO Domenic Serafino, Venus Concept plans ongoing product development to serve the aesthetic marketplace. The company intends to use recent funding to grow its subscription business and to expand and mature its direct office footprint. Venus Concept develops and distributes technology devices for skin tightening, body contouring and skin rejuvenation for the face, neck and body. Led by CEO Domenic Serafino, the company markets devices intended for pain-free aesthetic treatments. It operates through 14 offices worldwide. The company received a $20M senior secured term loan to support the ongoing commercialization of its device line. The financing was provided to back sales and commercialization efforts for its portfolio of aesthetic devices. Venus Concept is a leader in the global aesthetics market offering differentiated, comprehensive aesthetic solutions delivered through a partnership model with physicians. The company emphasizes best-in-class patient outcomes and dedicated customer service. Recent shareholder activity brought significant U.S. investor backing and was described by management as transformative. Management changes include Domenic Serafino assuming the role of Chairman and additions of senior regulatory and medical affairs leaders. Co-founder Oded Ron Edoute stepped down as Chairman but will continue working on development of the Chinese and Hong Kong markets. The company is positioning its leadership and investor base to support continued growth in target markets.

Participated · Equity · Sep 2020

Metabolon provides metabolomics and lipidomics solutions that support life‑science research, diagnostics, therapeutic development, and precision medicine applications. Its platform includes a Global Discovery Panel enabled by a proprietary metabolomics reference library and scalable, customizable multiomics offerings that span discovery through clinical trials and product life‑cycle management. The company cites more than 20 years of activity, 10,000+ projects, and 3,000+ publications, and holds ISO 9001:2015, CLIA, and CAP certifications. Led by CEO Rohan (Ro) Hastie and based in Morrisville, NC, Metabolon positions itself as a global leader in metabolomics. The company intends to use recent financing to enhance growth initiatives, expand research and development, and further develop its metabolomics platform. It also plans to support global expansion, market penetration initiatives, and strategic partnerships. Metabolon is a Morrisville, NC-based provider of scalable, customizable metabolomics and lipidomics solutions supporting customer needs from discovery through clinical trials and product life-cycle management. Led by CEO Rohan (Ro) Hastie, the company serves research, diagnostic, therapeutic development, and precision medicine applications. Its offerings include a Global Discovery Panel enabled by a proprietary metabolomics reference library and scientific, technology, and bioinformatics techniques developed over more than 20 years. Metabolon reports completing 10,000+ projects and being cited in over 3,000 publications, and holds ISO 9001:2015 and CLIA certifications. The company recently raised $25M and intends to use the funds to accelerate commercialization activities and continue advancing its R&D roadmap. Metabolon provides scalable, customizable metabolomics solutions from discovery through clinical trials and product life-cycle management using its Precision Metabolomics™ Platform and proprietary reference library. Over more than 20 years the company has completed 10,000+ projects and contributed to 2,000+ publications, and holds ISO 9001:2015 and CLIA certifications. Its technology deciphers thousands of discrete chemical signals to reveal biological pathways and phenotype-level insights that other 'omics cannot. The company recently closed a $72 million combined debt and equity financing to support growth. Management says the incremental funding will accelerate growth, expand the client base, and fund R&D programs in machine learning for novel biomarker discovery and to expand its precision medicine platform. Metabolon also announced the appointment of Robert A. Cascella to its board alongside independent members Todd Schermerhorn and Jan Lundberg. Metabolon develops proprietary metabolomics platforms and informatics to deliver biomarker discoveries, diagnostic tests, and precision medicine products. The company plans to use the financing proceeds to further develop and commercialize its pipeline of precision medicine offerings based on its metabolomics technology. Metabolon serves clients across pharmaceutical, biotechnology, consumer products, agriculture, nutrition, academic, and government sectors. It has conducted more than 5,000 independent and collaborative studies and has over 600 peer-reviewed publications. Founded in 2000 and led by president and CEO John Ryals, Ph.D., the company is based in Research Triangle Park, N.C. Financially, Metabolon has raised approximately $80M to date and closed a new financing to support its commercialization efforts. Metabolon is a metabolomics firm in the precision medicine space that develops phenotyping technology to determine individual drug metabolism and response. Its core product uses metabolomics profiling to inform drug-response and precision-treatment decisions. The company announced a collaboration last year with Human Longevity Inc. According to a Wall Street Journal report, Metabolon generated about $25 million in revenue last year. It has been backed by roughly $50 million in private funding from investors including Aurora Funds Inc., Fletcher Spaght Ventures LP, Syngenta Ventures, Sevin Rosen Funds, Harris & Harris Group Inc., and Keating Capital Inc. Company representatives had not provided details on how the new funding will be used.

Led · Equity · Jul 2020

Cardiva Medical is a privately held medical device company focused on transforming vascular closure with its VASCADE and VASCADE MVP systems. VASCADE has been PMA-approved by the FDA since 2013 and demonstrated a statistically significant reduction in access-site complications in the randomized RESPECT trial. VASCADE MVP is the only marketed vessel closure technology designed specifically for electrophysiology procedures and received PMA approval in late 2018 after the AMBULATE trial. The company announced a $45 million equity financing to support continued commercial expansion of these systems and to fund other clinical and operational initiatives. Cardiva targets the more than 5.5 million catheter-based coronary, peripheral, and electrophysiology procedures in the U.S. that require access-site closure each year. The company is headquartered in Santa Clara, California, and has received industry recognition including the Shingo Bronze Medallion. Cardiva Medical is a privately held medical device company headquartered in Santa Clara, California, focused on developing and commercializing vascular closure technologies. Its flagship product, the FDA‑approved and CE‑marked VASCADE Vascular Closure System, is commercially available in the United States and demonstrated a statistically significant reduction in access site complications in the randomized RESPECT study. The company is advancing an investigational mid‑bore vein closure system through the IDE AMBULATE trial, which targets 6–12 French access sheaths used in cardiac ablation and other procedures. AMBULATE is a prospective, multi‑center, randomized, controlled study enrolling 204 patients across U.S. sites to compare Cardiva's system to standard manual compression and to shorten time to ambulation. Cardiva reported a high rate of VASCADE sales growth and recently closed on an additional $11 million, bringing total equity and debt financing in the current round to $41 million. Proceeds will fund U.S. commercial expansion of VASCADE and support the AMBULATE trial. Cardiva Medical develops and commercializes the VASCADE Vascular Closure System. The company plans to use new funding to continue commercial expansion of VASCADE and to develop proprietary closure technologies. Cardiva reported a $30m equity financing led by affiliates of Luther King Capital Management, PTV Healthcare Capital and the Canepa Advanced Healthcare Fund. The company is led by President and CEO John Russell. VASCADE demonstrated a statistically significant reduction in access site complications in the prospective, randomized RESPECT clinical trial. The RESPECT study included 420 patients at 20 U.S. centers comparing VASCADE to manual compression for femoral arterial closure. Cardiva Medical develops and commercializes vascular closure technology designed to help the body heal itself following catheterization procedures. Its product line includes VASCADE, a vascular closure system, and the Catalyst II and Catalyst III devices for aiding manual compression. VASCADE received FDA approval in 2013 and CE marking in 2012; Catalyst II and III were cleared by the FDA in 2007 and 2009, respectively. The company says it is ramping up commercialization of its vascular closure products. To support that commercialization, Cardiva has taken on a senior secured credit facility to provide working capital. Cardiva is privately held, was founded in 2002, and is based in Sunnyvale, California. Cardiva Medical develops a vascular closure system and is based in Sunnyvale, California. Its vascular closure system received FDA approval in February. According to an SEC filing dated July 29, the company has raised nearly all of the $3.5 million it was seeking, with only $2,367 remaining to close the deal. About this time last year the company completed the third tranche of a Series 2 financing. The filing lists officers and directors including President and CEO Charles Maroney, founder and former CEO Augustine Lien, and Co‑Founder and VP of R&D Zia Yassinzadeh, among others. The company could not be reached for comment and the article does not disclose revenue, users, or investor details.

Led · Equity · Jan 2020

Sonendo, based in Laguna Hills, California and founded in 2006 by Fjord Ventures, develops innovative technologies for dentists. Its flagship GentleWave® System offers an alternative to traditional root canal treatment and departs from standard file-based cleaning techniques. The company reports that over 300,000 patients have been treated with the GentleWave System. Sonendo is also the parent company of TDO® Software, an endodontic practice management platform that integrates practice management, imaging, social media, referral reporting, CBCT imaging and communication with the GentleWave System. The company is led by President and CEO Bjarne Bergheim and continues to develop and expand its dental technology offerings. Sonendo develops dental technologies focused on improving root canal treatment, with its flagship GentleWave® System offering an alternative to standard file-based methods of tissue removal and disinfection. The GentleWave System is available in the US. The company is led by President and CEO Bjarne Bergheim and is based in Laguna Hills, Calif. Sonendo raised $50M in growth funding to support its commercial trajectory. The company intends to use the proceeds to accelerate ongoing commercialization efforts and to expand and diversify its current product portfolio. No operating metrics were disclosed in the article. Sonendo is a Laguna Hills, California developer of dental technology centered on the GentleWave® System. The company positions the GentleWave System as an alternative to standard root canal treatment and, available in the U.S., shows significant improvements in clinical efficacy and treatment efficiency compared with standard techniques. Led by President and CEO Bjarne Bergheim, Sonendo intends to use new funding to advance commercialization of the GentleWave System. It also plans to develop additional products in adjacent verticals. Sonendo completed a $35M equity financing to support these efforts, and Michael Zhao of DiNovA Capital joined the company’s board in conjunction with the financing. Sonendo, based in Laguna Hills, California, develops technology for the endodontic marketplace, principally the GentleWave System for root canal therapy. The GentleWave System is 510(k) FDA cleared, debuted at the American Association of Endodontists annual meeting in May, and is currently in limited market release. Led by President and CEO Bjarne Bergheim, the company is launching the system and aims to change the standard of care for root canal procedures. Sonendo completed a $35m equity financing to support further technology development, fund clinical studies, and commercialize the GentleWave System. The company previously closed a $10m debt financing with Oxford Finance in April 2014 and raised $18m in venture capital in June 2013. Paul Madera of Meritech Capital Partners joined Sonendo’s board in conjunction with the round. Sonendo develops technology for the endodontic marketplace, focusing on systems to transform traditional endodontic therapy. Its core product is the Multisonic Ultracleaning System, which is set to launch in 2014. The company closed a $10M venture debt facility intended to commercialize that system. Sonendo is led by President and CEO Bjarne Bergheim. Investors in the company include OrbiMed Advisors LLC, Themes Investment Partners, Fjord Ventures, NeoMed Management and Oxford Finance LLC. The company is based in Laguna Hills, California.