Led · Series A · Apr 2024

Rivos develops RISC-V-based server chipsets with a data-parallel accelerator designed to speed AI and big-data analytics. Its prototype chip was made using TSMC’s 3nm process and the company is also building self-contained Open Compute Project–style data center hardware plus a firmware-to-app software stack. Rivos targets customers building generative AI and other data-driven solutions and plans to monetize via hardware sales and complementary software to large data center operators. The company is pre-revenue, has roughly 375 employees, and CEO Puneet Kumar said it holds hundreds of millions of dollars in the bank. Rivos was founded in 2021 and previously faced litigation with Apple that settled in February, a legal shadow that had complicated hiring and fundraising. The company does not expect mass production of its chip until sometime next year and emphasizes a “recompile-not-redesign” approach to ease customer adoption.

Participated · Series B · Jun 2023

AltPep is a biotechnology company developing early disease‑modifying treatments (SOBIN therapeutics) and blood‑based detection tools (SOBA diagnostics) that selectively target toxic soluble oligomers. Its lead programs focus on Alzheimer’s and Parkinson’s diseases, with other amyloid diseases on the horizon. The company’s customized synthetic peptides are designed to both detect and neutralize toxic oligomers throughout disease progression. AltPep reports recent preclinical in vivo data showing improvement in cognitive deficits with its lead Alzheimer’s compound. SOBA, its first diagnostic, has received FDA Breakthrough Device Designation and is being advanced toward FDA clearance. Proceeds from the recent financing will primarily accelerate SOBIN into Phase 1 clinical trials for both Alzheimer’s and Parkinson’s diseases and further develop the SOBA assay. AltPep is a University of Washington spinout developing blood diagnostics and peptide‑based therapeutics aimed at detecting and treating early-stage Alzheimer’s and Parkinson’s disease. Its lead diagnostic, SOBA‑AD, detects soluble oligomers of Amyloid‑beta in blood and recently received FDA "breakthrough device" designation. The company is developing a kit for the test and is discussing partnerships with large diagnostic companies; its tests are being used in preclinical studies for AltPep’s therapeutic candidates and would ideally be approved before future clinical trials. AltPep’s therapeutic approach uses matching peptides that bind alpha‑sheet structures in toxic oligomers to intervene at the earliest molecular triggers of pathology. Financially, AltPep previously raised $23.1 million in a January 2021 Series A led by Matrix Capital Investment and, according to a recent regulatory filing, has raised $44.4 million. The Seattle‑based, roughly three‑year‑old company has 25 employees, has hired a chief medical officer, and is actively hiring. AltPep is a privately held biomedical company focused on diagnosing and treating central nervous system (CNS) amyloid disorders, starting with Alzheimer's Disease. Its platform technology targets misfolded forms of amyloid proteins and was developed in the University of Washington laboratory of founder and CEO Valerie Daggett, Ph.D. The company says the platform has the potential to transform diagnosis and treatment of Alzheimer's Disease and other CNS-mediated disorders. AltPep is based in Seattle, WA. In a financial update, AltPep closed a $23.150 million Series A investment round led by Matrix Capital Management with significant participation from Alexandria Venture Investments.

Led · Series D · May 2023

ElevateBio combines multiple R&D technology platforms — including Life Edit (a next‑generation gene‑editing platform), a proprietary iPSC platform, and RNA, cell, protein and vector engineering — with BaseCamp, its end‑to‑end genetic‑medicine cGMP manufacturing and process development business. The company offers turnkey scale and capabilities to accelerate discovery, development, and commercialization of cell and gene therapies and is also building an internal pipeline of cellular, genetic, and regenerative medicines. ElevateBio has formed partnerships to expand access to its platforms, including collaborations with Moderna and Novo Nordisk and a partnership with the California Institute for Regenerative Medicine, plus a new company to develop iPSC‑derived allogeneic immune cell therapies. Operational plans include expanding geographic reach and increasing cGMP manufacturing capacity to provide partners scalable access across the full product lifecycle. Financially, ElevateBio announced a $401 million Series D financing to further advance its technology platforms and BaseCamp manufacturing capabilities. The company states the proceeds will be used to accelerate platform development, manufacturing scale‑up, and strategic partnerships across the cell and gene therapy ecosystem. ElevateBio bridges academic research and commercialization to advance cell and gene therapies, focusing on developing its own therapeutics and partnering with research institutions and biotech companies. The company incubates frequent spin-outs, including AlloVir (with Baylor College of Medicine), HighPassBio (with Fred Hutchinson) and Life Edit Therapeutics (with AgBiome), with additional undisclosed spin-outs in development. ElevateBio also supports partners through production-scale manufacturing capabilities. Financially, the company more than doubled its prior round with a $525 million Series C after a $193 million Series B closed the prior year. The new capital will be used to expand R&D and manufacturing capacity and to continue creating spin-outs and partnerships. ElevateBio is based in Cambridge, Massachusetts. ElevateBio builds and operates a portfolio of companies focused on developing and manufacturing cell- and gene-based therapeutics. It specializes in new types of cellular and genetic therapies and spins out dedicated companies—each focused on a specific therapeutic approach. Subsidiaries include AlloVir, advancing T-cell immunotherapies against viruses that arise after stem cell transplantation and already in later-stage clinical trials, and HighPassBio, which targets relapse of leukemia after transplant with T-cell therapies. ElevateBio is expanding COVID-19–related research through an AlloVir agreement with Baylor College of Medicine to develop T-cell therapies to protect immunocompromised patients. The company is ramping up a roughly 140,000 square-foot Massachusetts facility focused on R&D that is nearing completion. Financially, ElevateBio closed a $170M Series B, bringing total capital raised to over $300M following a $150M Series A announced last year. ElevateBio is a Cambridge-based biotechnology holding company established to create and build a broad portfolio of cell and gene therapy companies through partnerships with academic researchers, medical centers, and entrepreneurs. The firm provides scientific founders centralized bench-to-bedside capabilities, including world-class scientists, drug development and commercialization expertise, and manufacturing facilities. ElevateBio BaseCamp is a single R&D, process development and cGMP manufacturing company that serves ElevateBio portfolio companies and selected strategic partners. BaseCamp is staffed with scientists and is building more than 100,000 square feet of facilities in Waltham, Massachusetts, including cGMP manufacturing suites, analytics and QC laboratories, and protein engineering, virology and immunology labs. The company closed a $150 million Series A financing co-led by the UBS Oncology Impact Fund (managed by MPM Capital) and F2 Ventures, joined by EcoR1 Capital, Redmile Group, and Samsara BioCapital. ElevateBio’s leadership team includes experienced biotech executives, MPM Capital incubated the company, and founding investors from its backers are actively involved in governance.

Participated · Series B · May 2022

Talos offers a unified platform that connects institutional investors to exchanges, OTC desks, prime brokers, lenders and custodians for liquidity sourcing, price discovery, trading, settlement and portfolio management. Its software-as-a-service tools are engineered to meet institutional requirements for performance, safety and reliability across front-, middle- and back-office workflows. Over the past two years the company has roughly doubled both revenue and its client base annually, underscoring accelerating institutional adoption. Talos has widened its capabilities through the acquisitions of Coin Metrics, Cloudwall, Skolem and D3X Systems, adding data, risk management, DeFi infrastructure and portfolio engineering functionality. Looking ahead, the firm plans to broaden its product set from portfolio construction and risk management to treasury and settlement, and to support traditional asset classes as they migrate onto digital rails. Headquartered in New York, Talos positions itself as the foundational infrastructure layer for the next generation of financial markets.

Led · Series C · Feb 2022

Koneksa has built a software suite that ingests sensor data from devices — from portable spirometers to iPhones and Apple Watches — and uses algorithms to extract clinically useful signals and organize them for drug companies and trial sites. The company aims to convert analog clinical scales into digital, more granular measures (for example quantifying Parkinson’s tremors via phone sensors) and has run studies showing at-home measures can correlate with clinic tests. Koneksa has supported clinical trials at over 700 sites and published internal studies such as a 12-patient asthma spirometer comparison and a 66-patient head-and-neck cancer activity study. Its current focus is clinical validation of digital biomarkers to meet the evidentiary standards of leading drug companies and to enable regulatory use. Planned product initiatives include Koneksa-owned and collaborator studies to build evidence and a "self-service" platform that lets partners combine and license integrated device-data dashboards. Financially, the company had previously raised roughly $4M in seed/Series A and $16M in a Series B and is announcing a $45M Series C to fund validation and the platform launch. Koneksa develops a patient-centric digital biomarker platform for drug development, delivered via a SaaS platform and mobile application. The platform integrates wearables, sensors and other patient-facing technologies to capture, monitor and analyze patient-generated data collected at home and remotely. Koneksa provides its own mobile assessments and can work with a variety of existing wearable sensors to enable a broad array of data inputs. The company has partnered with pharmaceutical and biotech firms to develop and implement digital biomarkers across therapeutic areas including neuroscience, respiratory, rare diseases and oncology. Launched in 2015 and led by CEO Chris Benko, Koneksa recently closed a $16M Series B to support R&D, validation of digital endpoints, platform advancement, strategic partnerships and geographic expansion.