Participated · Seed · Mar 2026

PAVE Space is developing a family of orbital transfer vehicles (OTVs) including a flagship kickstage using storable bipropellants and a smaller mobile platform for rapid satellite repositioning. The vehicles are designed to transport satellites from low Earth orbit to higher-energy destinations such as geostationary and lunar orbits in under 24 hours. PAVE aims to offer a launcher-agnostic logistics layer compatible with multiple launch systems and to serve commercial and institutional customers including satellite operators, telecom providers and defence organisations. The company is preparing its first in-space demonstration mission and has secured early reservation agreements with satellite operators. With the $40 million seed round, PAVE will accelerate development, expand its engineering team, conduct initial demonstrations and ready its platforms for commercial deployments. CEO and co-founder Julie Böhning has framed the effort as building infrastructure to enable industries to move, operate and scale beyond Earth while supporting Europe’s strategic autonomy in space.

Led · Series B · Sep 2024

Calyxia develops sustainable biodegradable microparticles and microcapsules intended to replace conventional microplastics used across consumer goods, agriculture and advanced materials. Its technology includes microcapsules that prevent wear-related microplastic generation and encapsulated catalysts that lower polymerization temperatures, which the company says can cut production temperatures by about 80°C. Founded in 2015 as a spinout from research between Harvard and ESPCI‑Paris PSL, Calyxia is a B Corp with over 60 patents and more than 20 blue‑chip industrial customers. The startup opened its first factory last year, has partially financed a second plant in France that will raise capacity from 500 to 3,000 tons of capsules annually, and has restructured into dedicated units for consumer, agriculture and advanced materials. Walters projects the microcapsules market will grow from roughly $5 billion today to $10 billion by 2030 and estimates capturing 10% could yield $500 million to $1 billion in revenue within five to ten years. The company says it is on a path to net profitability by 2026 and will use new funding to ramp industrial production and pursue global leadership in microparticles and microcapsules before expanding into broader advanced sustainable chemistry. Calyxia engineers biodegradable microcapsules intended as alternatives to intentionally added microplastics used in products such as crop-protection delivery systems and detergent fragrances. Its microcapsules are designed to prevent material breakdown, increase wear resistance and extend product lifespan by up to 10x. The company was founded in 2015 by scientists from Harvard, ESPCI‑Paris‑PSL and Cambridge University and is based in France. Calyxia says its technology addresses an EU ban on intentionally added microplastics and aims to provide viable ingredient replacements for manufacturers. The recent funding is earmarked to roll out commercial and industrial international expansion plans and to scale eco-friendly manufacturing. Financially, Calyxia raised €15 million in the newest round and has raised €23 million in total to date.

Led · Debt Financing · Apr 2024

On.Energy is a fully integrated energy storage solutions provider and independent power producer that designs, finances, builds and operates battery energy storage projects. Leveraging its proprietary On.Command AI energy management platform, the company delivers turnkey systems that support peak shaving, energy arbitrage, frequency regulation, backup power and microgrid operations for utilities and commercial-industrial customers. The firm currently owns and operates 80 MWh of storage assets in Houston and has structured project-finance credit solutions for more than 240 MWh within the past 12 months. Its forward pipeline exceeds 2 GWh of storage scheduled for activation by 2028 across California, Texas and Mexico. On.Energy’s integration revenues doubled from 2023 to 2024, underscoring rapid commercial growth. The business runs from headquarters in Miami with additional offices in Texas, California, Mexico, Peru and Chile.

Participated · Equity · Apr 2024

Stream, founded in 2018 and formerly known as Wagestream, delivers a workplace finance platform that lets employees access earned wages early and use integrated tools for saving, budgeting, and financial planning. By partnering directly with employers, the company positions its services as low-cost alternatives to high-interest short-term credit products. Stream now works with more than 2,000 employer brands and serves about four million workers across the UK, Europe, and the United States. According to the company, members have collectively saved over $200 million by avoiding high-cost financial products. The platform has evolved to include savings pots, budgeting guidance, and affordable credit options, and Stream plans to add pensions next. Management intends to use new capital to deepen its product suite and accelerate U.S. and broader international expansion. To date, Stream has raised $228 million in total funding from a roster of more than 75 investors.

Led · Equity · Mar 2024

900.care makes concentrated personal- and home-care products as compacted powder sticks that customers add to tap water in a reusable pump bottle. Customers receive an empty bottle on first order and subsequently buy small powder sticks that fit in a normal envelope and are sent by mail. The company sells primarily via a direct-to-consumer subscription model and offers shampoo, shower gel, foaming hand soap, dish soap, laundry and dishwasher tablets. In 2023 900.care generated €10 million in revenue and had 90,000 clients with 235,000 active subscriptions. The firm says it has prevented the equivalent of 3.5 million plastic bottles of waste and that dedicated compacting-focused production in a partner-operated factory in Saint-Étienne has improved margins. 900.care plans expansion beyond France, Belgium and Switzerland and aims to reach €100 million in revenue within three years while expecting to turn a profit this year.