Participated · Equity · Aug 2025

JSW Cement operates manufacturing facilities at Vijayanagar (Karnataka), Nandyal (Andhra Pradesh), Salboni (West Bengal), Jajpur (Odisha) and Dolvi (Maharashtra), and through subsidiary Shiva Cement runs a clinker unit in Odisha. The company is raising capital via a public issue comprising a fresh issue of up to ₹1,600 crore and an Offer for Sale of up to ₹2,000 crore, with the issue price fixed at ₹147 per equity share. JSW Cement plans to use ₹800 crore of the fresh-issue proceeds to build a new integrated cement plant in Nagaur, Rajasthan, and ₹520 crore for debt repayment, with the remainder for general corporate purposes. The IPO had an anchor allocation of 7.35 crore equity shares at ₹147 each, and the public issue will close on August 11. Fifty-two financial institutions participated as anchor investors in the allocation. The company’s near-term capital actions are focused on funding expansion and reducing leverage.

Participated · Equity · Jan 2022

ExpandCart is a leading provider of online shop creation services and platforms in the Middle East and North Africa (MENA). Since its inception in 2016 the company has expanded to more than 40 countries with a customer base of more than 25,000 merchants. Those merchants have produced more than $850 million in revenues by operating in Saudi Arabia, Egypt, Kuwait, and the United Arab Emirates. ExpandCart is gearing up to launch a Series B to expand into newer markets and to develop a comprehensive electronic system of products and business solutions that will help acquire merchant segments beyond a traditional online store. The company says the new funding will support expansion and growth in existing markets, with a focus on maximizing research and development and developing new technologies and products to supply one million merchants in MENA with smart technology products over the next three years. One of its products is ExpandBot, a chatbot that allows merchants to communicate with customers and reply to inquiries via Facebook Messenger without hiring additional customer care staff. ExpandCart is an eCommerce and retail platform in the Middle East providing comprehensive digital commerce solutions to merchants and retailers. Its omnichannel selling suite includes a feature-rich, customizable storefront platform, an integrated cloud point-of-sale system, and a branded merchant mobile app. The company is trusted by more than 20,000 merchants across over 40 countries and reports doubling its numbers each year as it expanded across the GCC, Egypt, and North Africa. ExpandCart has formed partnerships with Facebook, Google, PayPal, DHL, Boubyan Bank and others to support growth and merchant GMV. The company announced a $2.5M Series A investment as part of a strategic plan to focus on digital commerce solutions targeting online and offline retailers and to reduce the gap between suppliers and merchants in the Middle East. During the COVID-19 pandemic ExpandCart supported thousands of merchants in moving online, which helped shape its product roadmap.

Participated · Equity · Apr 2021

TAE Technologies is a nearly 30-year-old company developing compact plasma reactors aimed at commercial fusion power. Its reactor design produces a hollow-cigar plasma that generates its own magnetic field to work with reactor magnets for containment. The company recently eliminated the need to fire two plasma balls to initiate reactions, instead forming, heating, and stabilizing plasma using particle beams alone, which it says reduces size, cost, and complexity. TAE's current devices can heat plasmas to about 70 million °C, while the company says commercial systems must reach roughly 1 billion °C. Google has collaborated with TAE since 2014 on machine learning to optimize device settings and has participated in multiple investment rounds. Financially, TAE raised $150 million in the latest funding round, has closed twelve rounds to date, and has raised about $1.8 billion overall; CEO Michl Binderbauer is aiming to raise an additional $50 million before this round closes. The company is targeting to put electrons on the grid in the early 2030s. TAE Technologies develops an alternative approach to nuclear fusion intended to produce large amounts of carbon-free energy with limited long-lived radioactive waste. The company was founded in 1998 with the goal of building compact, cost-effective, and safe commercial fusion power sources. TAE says it aims to build commercial-scale fusion reactors and deliver energy to the grid in the early 2030s. Google has partnered with TAE since 2014, providing artificial intelligence and computational support. The company announced a new $250 million investment that brings its total capital raised to $1.2 billion. Management frames the financing as validation of technical progress and support for near-term commercialization goals. TAE Technologies is a 20-year-old private fusion developer that has demonstrated stable plasma exceeding 50 million degrees in its Norman device. The company says that achievement validates its confinement approach and makes commercial-scale reactors feasible by the end of the decade. TAE has not yet produced net energy and still treats energy output from current tests as diagnostic-level signals. It plans a demonstration facility called Copernicus that will start on a deuterium-tritium (D-T) cycle and ultimately transition to hydrogen-boron (pB-11) aneutronic fuel. The firm is also preparing to spin off power-management technology for peak shaving, energy storage and battery management. TAE has leveraged machine learning with Google and exascale compute via the DOE INCITE program in its development work.

Led · Equity · Jan 2016

Jawbone builds consumer fitness trackers and wearable devices. The company confirmed a new $165M funding round from The Kuwait Investment Authority to fund operations, growth, and bring new products to market. It has created a 30 percent equity pool for current employees and earlier this year cut about 4 percent of its workforce. Jawbone declined to disclose a valuation for the round, though previous rounds had pegged its valuation around $3.3 billion and the new round is almost half the size of one raised in April 2015. To date the company has raised more than $1 billion, and prior investors include Andreessen Horowitz, Sequoia, Khosla, Kleiner Perkins, BlackRock, and others. The company has sued rival Fitbit alleging employee and trade secret theft, which Fitbit has denied. President Sameer Samat is leaving to rejoin Google but will remain an advisor and investor, while CEO Hosain Rahman and CFO Jason Child will share Samat’s responsibilities. Jawbone builds consumer wearable devices and associated software, focused on activity trackers. Its most recent wearables launched months late and have drawn unfavorable user reviews for performance relative to price. The company says it has strong demand, plenty of cash and an exciting product pipeline. Bloomberg reported Jawbone took a $300 million loan reportedly from Blackrock Investments that was secured by current and future licenses, intellectual property, royalties, accounts receivable and revenue from IP or licenses; Jawbone later said the $300 million came by way of a convertible note. Jawbone faces intense competition from Fitbit, whose IPO prospectus cites an 85% share of the connected activity tracker market. The company is also pursuing legal action against Fitbit, alleging recruited employees stole confidential information. Jawbone is best known for its compact Jambox speaker but also offers a line of fitness-tracking bracelets and Bluetooth headsets. The company reports a $600 million revenue run rate projected forward 12 months, with most revenue coming from the Jambox. Jawbone recently completed a large financing as it amasses cash ahead of an intended public offering. Management is positioning the raise as a final financing before starting on the path to an IPO, aiming for a more successful gadgets IPO than GoPro. The company remains independent and is not in serious acquisition talks with Google. Founder Hosain Rahman is mentioned in the coverage and is reported to be friends with Google CEO Larry Page. Jawbone develops wearable technology and audio devices, including Bluetooth headsets and wireless speakers. Its product portfolio includes the NoiseAssassin noise‑eliminating technology, the Jawbone ERA and ICON Bluetooth headsets, and the JAMBOX wireless speaker and speakerphone. The company is led by founder and CEO Hosain Rahman. According to the report, Jawbone raised significant financing in 2013, reflecting its capital needs and investor interest. The financing structure included both equity and debt components from multiple institutional investors. Jawbone builds consumer hardware products including the Jawbone UP, the ERA headset and the Jambox speaker. The company announced a $40 million financing from Kleiner Perkins Caufield & Byers, Deutsche Telekom, private investor Yuri Milner and J.P. Morgan Asset Management, bringing its total funding to $162 million. The article highlights Jawbone's design-forward products and suggests strong prospects heading into 2012, despite noting "some notable bumps along the way." Hosain Rahman is identified in the article as the UP founder. The article does not report operating metrics, a valuation, or specific use of proceeds.

Led · Equity · Oct 2014

NantBioScience, a wholly-owned subsidiary of NantWorks, focuses on creating targeted oncology drugs that match treatments to the molecular profile of each patient’s tumor rather than its anatomical origin. Leveraging next-generation sequencing, targeted proteomics, and large-scale supercomputing, the firm aims to replace traditional ‘trial-and-error’ clinical trial design with data-driven predictability. Its lead assets include two nab® product candidates—NTB-011, a colchicine-dimer with vascular-disrupting properties, and NTB-010, a geldanomycin-based HSP90 inhibitor—both cleared for IND and slated for Phase I trials in 2014-2015. Beyond nab® molecules, the pipeline features a KRAS inhibitor, p53-remediation compounds, and a library of over 4,000 multi-kinase inhibitors, several of which are expected to enter IND-enabling studies between 2014 and 2016. Founder Dr. Patrick Soon-Shiong reports that more than $100 million has already been invested internally to build this platform. The company’s mission is to deliver “right drug, right time” precision oncology therapies while minimizing side effects through molecularly guided patient selection.