Participated · Series A · Jun 2022

Prometheus Materials develops zero-carbon building products, including precast biocomposite and ready-made biocomposite. The company has pursued commercial production of those products using prior funding. In June 2022 Prometheus closed an $8 million Series A led by Sofinnova Partners to begin commercial production. In mid-July the company filed a Form D showing it raised $6.25 million in debt financing. That debt round was offered as part of a $7 million securities offering and closed with capital from six investors beginning July 9. Prometheus did not respond to requests for comment about the financing. Prometheus Materials has developed a patent-pending photosynthetic biocementation process that uses naturally occurring microalgae, water, sunlight, and CO2 to produce a bio-cement which, when mixed with aggregate, yields zero-carbon masonry and concrete alternatives. The company says the resulting materials have mechanical, physical, and thermal properties comparable or superior to portland cement-based concrete and can sequester carbon during production. Prometheus reports its process can reduce approximately 90% of embodied carbon compared to existing portland-cement products. The technology was developed by a team at the University of Colorado Boulder under a Department of Defense grant. Prometheus is piloting masonry unit projects and will use its Series A funding to commercially manufacture zero-carbon masonry units at a production facility in Longmont, Colorado. Over the next two years the company plans to scale production and introduce precast biocomposite elements and ready-mix biocomposite products as decarbonized alternatives to traditional cement-based elements.

Participated · Equity · Jul 2014

Solexel produces high-performance, lightweight solar PV panels designed to deliver low-cost energy. The company is led by President & Chief Executive Officer Michael Wingert. It raised an equity investment from Riyadh Valley Company, the venture capital arm of King Saud University of Saudi Arabia, which will be used to help transition the company into revenue. The amount of the investment was not disclosed. Solexel is backed by venture investors including Kleiner Perkins Caufield & Byers, DAG Ventures, Technology Partners, Northgate Capital and GSV Capital Corp., and by GAF, the largest roofing materials manufacturer in North America. The company is based in Milpitas, California. Solexel manufactures high-performance, low-cost, lightweight thin-crystalline-silicon solar modules optimized for photovoltaic electricity generation. Its production-format thin-crystalline-silicon cell holds a world-record for efficiency. Solexel’s modules include integrated smart electronics that mitigate the effects of shading, soiling, and snow to enhance real-world performance. The modules’ low material usage and light weight reduce balance-of-system costs and enable installation on weight-constrained residential and commercial rooftops. The company is venture-backed and operates a production facility in Milpitas, California, which it planned to complete using recent financing. Solexel’s products are positioned to make solar-generated electricity more cost-competitive with conventional fossil-fuel electricity sources. Solexel is a Milpitas, Calif.-based manufacturer of lightweight, thin-crystalline-silicon solar modules. Its modules include integrated smart electronics designed to enhance performance by reducing the negative impact of shading, soiling and snow cover. The company is certified by the National Renewable Energy Laboratory (NREL). Solexel recently closed a $31M financing. The company intends to use the funds to begin commercial production of its solar modules. Backers in the financing included a mix of venture and strategic investors.

Led · Equity · Jul 2011

Antisense Pharma is a Regensburg, Germany-based biopharmaceutical company focused on discovering and developing drugs based on antisense technology for worldwide commercialization. Its core products are antisense medications that specifically block the synthesis of key cancer proteins to counter tumor growth and aggressive disease progression. The company has clinical trials running that involve patients with brain tumor, advanced pancreatic cancer, malignant melanoma and colorectal carcinoma. Antisense Pharma received an €8m equity investment from MIG Funds and GAF. As of July 1, CEO Dr. Karl‑Hermann Schlingensiepen moved from operative management to a strategic advisory role; Dr. Hubert Heinrichs will serve as acting CEO until a successor is named. The financing was reported by FinSMEs on July 7, 2011. Antisense Pharma GmbH is a Regensburg, Germany–based biopharmaceutical company that develops and markets novel drugs for the targeted treatment of particularly aggressive cancers. Its flagship product is trabedersen, which is currently in a Phase III clinical study for malignant brain tumours (WHO Grade III). The company is also preparing a Phase II/III study into advanced pancreatic cancer. Antisense Pharma raised €13m in equity financing in the reported round. The new funds will be used for further clinical development of trabedersen. With the new investments, the company has raised just under €80m of venture capital to date.