Led · Series A · Sep 2021

ProbablyMonsters operates a portfolio of internal development studios that create original AAA games across multiple genres, supporting simultaneous projects with shared resources and benefits. The company has three announced studios — Firewalk (inaugural multiplayer AAA game), Cauldron (single-player narrative title), and a third studio developing a next‑gen open‑world co‑op RPG — and a publishing agreement with Sony for Firewalk’s game. ProbablyMonsters raised a $200M Series A preferred stock financing to provide long-term stability and to turbocharge its live operations, community features, employee benefits, recruiting, and overall business growth. The firm emphasizes a people-first culture and a development model designed to deliver long-lasting careers for developers. The company has over 230 employees and is executing a roughly 50% annual headcount growth rate. CEO and founder Harold Ryan brings more than 20 years of industry leadership and a track record of generating over $5B in revenues from blockbuster game franchises.

Led · Equity · Aug 2021

WishBone Medical, based in Warsaw, Indiana, develops pediatric orthopedic implants, instruments and single-use sterile-packed procedure kits. Its core products are surgeon-designed implants and sterile procedure kits intended to prevent infection, reduce overall costs for customers, and achieve better outcomes for growing children. The company emphasizes surgeon-led innovation and engineering for operating-room efficiency. WishBone announced it secured additional growth capital from LKCM Headwater Investments to fuel commercialization of its existing portfolio and support new product development. Concurrently, cofounders Nick Deeter and Mary Wetzel are transitioning from CEO and President roles into consulting positions, and Dr. Mark Figgie was appointed interim CEO to advance commercialization and leadership. The announcement did not disclose revenue, users, or other operating metrics. WishBone Medical develops pediatric orthopedic implants, instruments, and single-use, sterile-packed procedure kits designed to prevent infection and reduce costs. The company reported sales growth of 29% from 2019 to 2020 and 150% orthopedic net sales growth from Q2 2020 to Q2 2021. It operates in a pediatric orthopedics market valued at over $3.2 billion and expected to reach $5.0 billion by 2025. WishBone plans to use new capital to accelerate product development, hire additional personnel, broaden its product portfolio, and increase inventory. The company also intends to expand the manufacturing facilities of its subsidiary, Red Star Contract Manufacturing, to meet growing demand. WishBone has operations in Warsaw, Indiana, Istanbul, and Singapore. WishBone Medical is a global pediatric orthopedic company that provides anatomically appropriate implants, instruments and biologics in single-use, sterile packed procedure kits. The WishBone Medical Family of Companies offers 42 product systems and has operations in Warsaw, IN, Istanbul, and Singapore. The company closed a $20M equity financing to support its operations. Proceeds will be used to support commercial expansion, develop new product systems and fund other operational initiatives. The round was fully funded by LKCM Headwater Investments, the private equity arm of Luther King Capital Management. Two LKCM Headwater principals, Michael D. Bornitz and Jonathon B. Miller, joined WishBone’s Board of Directors in conjunction with the funding.