Participated · Equity · May 2025

Hub is a global insurance brokerage and financial services firm focused on servicing middle and upper‑middle market clients. Its core offerings include industry- and product-specialized risk management, brokerage services, proprietary products, digital solutions and new distribution channels. The company emphasizes cross-selling, seamless M&A integration, talent acquisition, and strong net new business performance to drive organic growth. Recurring investments reflect investor confidence in Hub's scale, profitability, and consistent organic revenue growth. Annual revenue increased over fourfold from $1.1 billion in 2013 to $4.8 billion in 2024. Management holds a significant equity position while Hellman & Friedman retains controlling interest.

Led · Equity · Dec 2023

Cortex is building a fully integrated platform that combines diagnostic and pulsed field ablation catheters with a comprehensive mapping and navigation solution powered by Ablacon's Electrographic Flow (EGF) mapping technology. The suite is intended to enable more precise therapy planning and delivery, simplify workflows, and improve procedural efficiency and safety for AFib patients. Ablacon's Ablamap X mapping system is 510(k) cleared, and EGF mapping demonstrated a 51% absolute improvement in freedom from AFib at one year in the randomized FLOW-AF trial versus conventional pulmonary vein isolation. Following FLOW-AF, Cortex/Ablacon has launched the large, international RESOLVE-AF trial to further evaluate benefits and support a CE mark application. Cortex was formed by Ajax Health and is led by Duke Rohlen, who is CEO of Ajax Health and Cortex. The company has secured significant funding commitments to support continued development and clinical validation of its technologies.

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.

Participated · Series A · Feb 2023

Puzzle Medical, founded in 2018 and based in Montreal, is developing a long-term, percutaneous transcatheter heart pump for people with advanced heart failure. The device features a modular design intended to allow safe implantation to support both renal and cardiac function. Its system uses 4mm pumps that anchor in parallel in the descending aorta. The company positions the device as a potentially less-invasive alternative to LVADs. Puzzle Medical closed a Series A of approximately $25 million (CAN$34 million) and plans to use the funds to complete a human feasibility study, expand development efforts, and attract talent. The company recently added Duke Rohlen, Aftab Kherani and Maria Berkman to its board of directors. Puzzle Medical Devices is developing ModulHeart, a percutaneous heart pump intended for patients with advanced heart failure who are not transplant or surgical MCS candidates. The device uses a modular design of multiple parallel endovascular pumps anchored in the descending aorta, enabling low pump speeds, secure aortic anchoring, and positioning distal to the cerebral arteries. That design is intended to preserve blood integrity, reduce risk of embolic events, and enable ambulatory and outpatient use with low risks of bleeding, stroke, and pump thrombosis. Puzzle Medical has demonstrated safety and efficacy in preclinical studies and has obtained FDA Breakthrough Device designation. The company recently closed a major Seed financing round to fund a first-in-human study of the ModulHeart device. The team has expanded governance and clinical expertise, adding David Prim, PhD to the board and several renowned heart-failure advisors. Puzzle Medical Devices is developing a minimally invasive transcatheter pump intended for long-term hemodynamic support. The company has completed acute in-vivo preclinical implantations with reported success. The investment follows completion of its first preclinical studies and is intended to support continued development toward clinical testing. Puzzle is led by CEO Stuart Kozlick and is based in Montreal, Canada. The company closed its first financing round as it advances its transcatheter pump program. No operating metrics or revenues were disclosed in the article.

Participated · Series B · Dec 2021

Well operates an AI-powered health engagement system that delivers precise, personalized daily interventions and incentives to employees. The platform pairs real-time AI algorithms with concierge Well Guides (nurses, pharmacists, social workers, nutritionists, and billing experts) and an Intervention Design Lab for rapid testing and deployment. Well plans to expand its AI capabilities, enhance concierge support, and strengthen analytics to predict emerging risk patterns. The company reports strong engagement metrics—about 300 interactions per member annually, 25% of users engaging daily, and a 90 Net Promoter Score—and has demonstrated 5%+ improvements in key HEDIS measures across diverse Fortune 500 populations. Financially, Well has raised an additional $30 million, bringing total funding to over $150 million. The company is headquartered in Chapel Hill, N.C., with offices in Newton, Mass., Minneapolis, and New York City. Well Dot operates a consumer-focused health improvement platform that combines artificial intelligence, advanced behavioral economic techniques and on-demand human guidance to deliver personalized support. The company applies proprietary algorithms to a library of clinical interventions and guided experiences to support preventative care, condition management and mental health. Well partners with corporate clients and serves thousands of members, and also works with community health organizations and direct-to-consumer offerings in collaboration with consumer brands. The company plans to continue scaling operations and expand its platform to deliver enhanced functionality and improved health to more members. Well will launch with additional jumbo employer customers in 2022 while broadening access channels through employer, community and consumer-brand partnerships. Leadership includes CEO Gary Loveman and president and COO David Werry. Well is a consumer-focused health technology company that uses artificial intelligence and behavioral economics to deliver personalized health guidance. Since its founding in 2019, it has combined a consumer-grade digital platform with multidisciplinary teams of live health guides, chat and phone support, self-guided in-app actions, and rewards to engage members. The platform addresses the full spectrum of healthcare needs, including behavioral health, wellness, pharmacy, navigation, and chronic disease management, and serves all members rather than only high-cost patients. Well reports high member engagement and increased preventive actions, which the company says have led to improved health outcomes and lower costs since onboarding initial users at the end of 2019. The company plans to use the new funding to continue investing in people and technology and to expand its user base, content, and the breadth of its offerings. Financially, Well completed a $40 million Series A structured as a combination of equity and debt and previously raised $25 million in seed funding in 2019.