Participated · Series C · Nov 2022

Xanadu Quantum Technologies is a Canadian startup developing photonic quantum computing systems, using light-based qubits to tackle computational problems that are intractable for conventional computers. Founded by former University of Toronto post-doctoral researcher Christian Weedbrook, the company emerged from the Creative Destruction Lab accelerator and has become a leading player in Canada’s quantum ecosystem. Its core product focuses on scalable, room-temperature photonic quantum processors aimed at enabling quantum advantage for real-world applications. Xanadu’s roadmap centers on advancing hardware performance while building a cloud-accessible quantum platform for developers and enterprise users. Financially, the company has now secured up to $23 million in non-dilutive funding from the Canadian government’s new Quantum Champions Program, supplementing earlier accelerator support. This federal backing is tied to development milestones and is part of a larger $334 million national quantum strategy designed to encourage domestic scaling. The capital strengthens Xanadu’s ability to accelerate R&D and maintain Canada’s leadership in quantum technologies.

Participated · Series A · Oct 2021

To The Market operates a proprietary platform that vets ethical and sustainable businesses and uses technology to connect brands with a syndicated network of suppliers. Founded in 2016 by Jane Mosbacher Morris, the company aims to democratize access to the global supply chain while protecting the environment and promoting women-founded businesses. Its syndicated supply chain includes over 200 makers in 50 countries and it supplies retailers such as Nordstrom Rack, TJ Maxx, Burlington and Bloomingdales. The company emphasizes ethical and sustainable retail manufacturing and says its vendor matrix gives it a competitive lead. To The Market weathered pandemic disruptions by offering diversified sourcing when makers were unable to get goods out of China. The company has about 20 employees and plans to use new funding to expand the team, develop technology and capture more market.

Participated · Seed · Aug 2019

SpotQA's flagship product, Virtuoso, is described as an "Intelligent Quality Assistance Platform" that uses machine learning and robotic process automation to test web and mobile apps. The company claims Virtuoso can speed up testing by up to 25x versus manual and traditional automated testing. SpotQA aims to make QA accessible across entire companies rather than limiting it to software or QA engineers. The product is positioned to remove testing bottlenecks that slow deployments and impact productivity and the bottom line. Existing Virtuoso customers include Experian, Chemistry, Optionis and DXC Technologies. The company will use new funding to scale engineering, sales and marketing and to expand internationally.

Participated · Equity · Dec 2018

Viracta Therapeutics entered into a loan and security agreement with Silicon Valley Bank and Oxford Finance for up to $50.0 million. The new credit facility supersedes a prior $15.0 million loan and refinanced an existing $5.0 million debt balance. Under the agreement, $45.0 million remains available in two additional tranches of $20.0 million and $25.0 million. The facility is structured as a loan and security agreement provided by SVB and Oxford Finance. The company is under no obligation to draw on the remaining tranches. No operating metrics or additional financial details were disclosed in the announcement. Viracta Therapeutics, Inc. announced it received approximately $65 million in funding. The company closed the transaction on February 24, 2021. It raised $64,999,994 pursuant to Regulation D from 26 investors. The articles describe the backers only as a group of investors and do not name any participants. The reporting includes no operating metrics, product details, future plans, prior financings, founding year, or location. Beyond this Regulation D raise, the company’s broader financial situation is not disclosed in the articles. Viracta Therapeutics is a San Diego, CA–based precision oncology company targeting virus-associated malignancies. Led by President and CEO Ivor Royston, the company’s proprietary lead molecule, nanatinostat, is being evaluated orally in combination with valganciclovir in a Phase 2 trial for Epstein‑Barr virus–positive lymphomas. Viracta describes this as a Kick and Kill approach and is pursuing its application in other EBV‑associated malignancies such as nasopharyngeal carcinoma and other virus-related cancers. The company closed a Series D financing of an undisclosed amount led by Taiwania Capital Management with participation from existing investors. In conjunction with the financing, Michael Huang, Managing Partner at Taiwania, joined Viracta’s Board of Directors. Proceeds are expected to be used to complete the Phase 2 study, support subsequent initiation of registration studies and for general corporate purposes. Viracta Therapeutics is a clinical-stage drug development company advancing medicines based on a 'kick & kill' approach for viral-associated cancers. Its lead candidate, nanatinostat (VRx-3996), is being developed in combination with an antiviral as the first targeted, orally administered therapy for EBV-associated malignancies. Viracta is conducting a Phase 1b/2 clinical trial for EBV-associated lymphomas in the US and Brazil and plans to initiate a trial for EBV-associated solid tumors in the coming year. The company entered an exclusive collaboration and license agreement with Shenzhen Salubris to develop and commercialize the approach in China. Under the agreement Viracta received an equity investment and is eligible to receive up to $58 million in pre-commercial milestones, plus sales-level-triggered commercial milestones and tiered royalties. The partnership targets EBV-driven cancers that disproportionately affect patients in Southern China, including nasopharyngeal carcinoma, gastric carcinoma, and NK/T cell lymphomas. Viracta Therapeutics is a San Diego-based clinical-stage drug development company led by CEO Ivor Royston, M.D. The company advances medicines based on a proprietary viral gene activation therapeutic approach for viral-associated cancers and other serious diseases. Its lead candidate, VRx-3996, is a Class 1 histone deacetylase inhibitor (HDACi) in Phase 2 development for Epstein-Barr virus (EBV)-associated malignancies. Viracta will use the proceeds from the financing to advance VRx-3996 into Phase 2 clinical studies. The company agreed to an exclusive license of VRx-3996 to NantKwest for use in combination with NantKwest’s natural killer (NK) cell therapy platforms. NantKwest intends to transition VRx-3996 into human clinical trials combined with its aNK, haNK and taNK platforms. As part of the transaction, NantKwest Chairman and CEO Patrick Soon-Shiong will join Viracta’s Board as Vice Chairman.

Participated · Series C · Aug 2015

Syndax Pharmaceuticals is focused on treating cancer and develops entinostat, an oral small‑molecule drug candidate with direct effects on both cancer cells and immune regulatory cells. Entinostat is intended to potentially enhance the body’s immune response across multiple cancer indications. The company’s initial clinical focus includes tumors that have shown sensitivity to immunotherapy, including lung cancer, melanoma and triple‑negative breast cancer. Entinostat is being evaluated in combination with Merck’s anti‑PD‑1 inhibitor KEYTRUDA (pembrolizumab) in a Phase 1b/2 trial for patients with advanced non‑small cell lung cancer or melanoma. It is also being evaluated in a pivotal Phase 3 trial in combination with Aromasin (exemestane) to treat advanced HR+ breast cancer. Syndax is led by CEO Briggs Morrison, M.D., and Chairman Dennis Podlesak and is based in Waltham, Massachusetts. The company closed an $80M Series C to support continued development of entinostat. Syndax is developing entinostat, an oral, weekly or bi-weekly selective histone deacetylase (HDAC) inhibitor intended to treat treatment-resistant cancers. Entinostat has been described in the S-1 as well-tolerated in clinical trials to date and acts on epigenetic regulation of gene expression. The drug received FDA breakthrough therapy designation based on Phase IIB data in metastatic breast cancer and the company began a Phase III trial in June, expected to complete by mid-2017. Syndax has several other Phase II and Phase I breast cancer trials ongoing and is also testing entinostat in lung cancer. The company is collaborating with the National Cancer Institute on development. Financially, Syndax recently raised about $5 million in debt financing and has refiled for an IPO to raise $60 million. Syndax Pharmaceuticals develops epigenetic-based combination therapies targeting treatment-resistant cancers. It holds worldwide rights to entinostat, an oral, highly selective histone deacetylase (HDAC) inhibitor in late-stage clinical development for advanced breast and lung cancers. The company plans to use the financing to advance its late-stage pipeline and to support activities preparing for an NDA-enabling Phase 3 study of entinostat in metastatic breast cancer. That Phase 3 study is being developed by the ECOG-ACRIN Cancer Research Group under sponsorship of the Division of Cancer Treatment and Diagnosis, National Cancer Institute (NCI). Led by CEO Arlene M. Morris, Syndax is pursuing registration-directed clinical work for entinostat. Founded in 2007 and based in Waltham, MA, the company has raised $81.6M to date. Syndax Pharmaceuticals is a Waltham, MA-based clinical-stage epigenetics oncology company formed in 2005. Its lead program is entinostat, a class I isoform selective HDAC inhibitor being developed for advanced and metastatic breast cancer. The company's intellectual property is based on work from scientific founder Ronald Evans, PhD, a professor at the Salk Institute and a Howard Hughes Medical Institute Investigator. Syndax issued $6m in convertible notes and warrants to its Series A investors in the reported financing. All existing Series A investors—Domain Associates, MPM Capital, Avalon Ventures, Forward Ventures, Pappas Ventures and MC Life Sciences—participated in the securities offering. The financing brings total investment to date to $55m and will be used to complete a randomized Phase 2 study of entinostat.