Participated · Series B · Jan 2026

Kinaset Therapeutics is focused on creating inhaled, anti-inflammatory medicines for serious respiratory conditions. Its lead candidate, frevecitinib, is a dry-powder, single-capsule pan-JAK inhibitor (JAK1/2/3, TYK2) designed to deliver therapeutic lung concentrations while minimizing systemic exposure. The drug targets both Th2- and Th1-driven disease, giving it potential efficacy across the broad severe asthma population, including patients with non-eosinophilic phenotypes who currently lack effective options. Early clinical data have demonstrated promising safety and pharmacology, and proceeds from the latest financing will fund a Phase 2 dose-ranging study in severe asthma patients. By overcoming historical drug-delivery challenges for inhaled JAK inhibitors, Kinaset aims to provide the first novel, inhaled anti-inflammatory mechanism for asthma in decades. The company operates from Boston and is supported by a syndicate of leading life-science investors.

Participated · Series A · Dec 2025

Syremis Therapeutics is advancing a neuropsychiatric pipeline grounded in clinically validated mechanisms, aiming to create best-in-class treatments for schizophrenia, major depressive disorder, bipolar depression and other psychiatric conditions. Its lead asset, ST-905, is a potent dual M1/M4 muscarinic receptor agonist now in Phase 1 trials and designed for once-daily oral dosing with the potential for a long-acting injectable formulation. A second program, ST-901, is a next-generation NMDA antagonist in IND-enabling studies and slated to enter Phase 1 next year to address depressive disorders. Both candidates originated at Clexio Biosciences before being spun out to Syremis. The company highlights the vast unmet need in schizophrenia, which affects more than 20 million people globally, and cites limitations in efficacy and tolerability of current therapies as its market entry point. Syremis is led by a seasoned team including co-founders Elisabeth Kogan (CEO), Elena Kagan (CDO), and Menashe Levy (CTO), with board members drawn from Dexcel Pharma, Third Rock Ventures, Bain Capital Life Sciences and other industry leaders. Its $165 million Series A financing provides the capital to advance both programs through clinical proof of concept. No commercial revenues or patient enrollment figures have been disclosed to date.

Participated · Series B · May 2025

Azafaros is a clinical-stage company developing disease-modifying therapeutics for rare lysosomal storage disorders, leveraging science from Leiden University and Amsterdam UMC. Its lead asset, nizubaglustat, is an orally available, brain-penetrant small molecule with a dual mode of action targeting CNS-involved GM1/GM2 gangliosidoses and Niemann-Pick disease Type C (NPC). Nizubaglustat has received multiple regulatory designations, including Orphan Drug Designations in the US and EU, Rare Pediatric Disease Designations, Fast Track status in the US, and an Innovation Passport from the UK MHRA. The company plans to initiate two Phase 3 pivotal studies for nizubaglustat (NPC and GM1/GM2) later this year and intends to expand its pipeline into additional indications. Azafaros was founded in 2018 and is led by an experienced team focused on rapid development and commercialization for rare genetic diseases. The recently completed oversubscribed financing strengthens its financial position to execute these clinical plans. Azafaros develops orally available small‑molecule therapeutics (azasugars) aimed at disease modification in rare genetic metabolic disorders, initially targeting lysosomal storage diseases. The company holds an exclusive license from Leiden University and Amsterdam UMC to a library of novel patented compounds discovered by researchers including Professors Hans Aerts, Hermen Overkleeft and Stan van Boeckel. Its proprietary lead compound, AZ‑3102, is an oral azasugar that interferes with glycolipid metabolism and exerts a dual mode of action on key disease pathways. Azafaros says it is advancing the lead program toward first‑in‑man studies while expanding its discovery efforts to broaden the pipeline into other rare metabolic diseases. The Series A financing provides capital to build the organization and expand the executive team to support these development plans. No operating revenues or user metrics are disclosed in the article.

Participated · Series F · Apr 2025

Mainspring Energy develops linear generator power products that are fully dispatchable, low‑emission, fuel‑flexible, and scalable from 250 kW to 100+ MW. The units are designed for easy siting and permitting, and the company says the products are easily manufacturable and can scale from single units to grid‑level arrays. Mainspring reports commercial shipments began in 2020 and that it currently has hundreds of megawatts in field operations and advanced development for Fortune 500 companies and utilities. Its technology has been adopted across data centers, EV charging microgrids, commercial buildings, residential developments, cold storage, hospitals, and wastewater treatment plants. The company plans to use new financing to expand manufacturing, grow customer sales, and scale its linear generator business globally. With low emissions and fuel flexibility, Mainspring positions its product to support resilient, low‑carbon power deployment. Mainspring Energy develops and sells linear generators that produce low- or zero-carbon electricity for commercial, industrial, datacenter and utility customers. The company is led by CEO Shannon Miller and counts customers such as Kroger, Lineage Logistics, PG&E and Florida Power & Light. Mainspring’s products are fuel-flexible and intended to increase energy resilience, reduce costs, and help customers meet sustainability goals. The company plans to use the new funding to develop new linear generator models and to accelerate commercial and utility adoption. It also announced a commercial agreement with Lineage Logistics to deploy up to 150 units across Lineage’s U.S. distribution facilities and to explore deployments outside the U.S. and the use of 100% green fuels. Mainspring Energy develops the Mainspring Linear Generator, an onsite, dispatchable, fuel‑flexible power generator that can run on conventional fuels and 100% renewable fuels. The company shipped its first product in mid‑2020 and has pursued deployments across commercial, industrial, microgrid, and utility customers, including big‑box retail, grocery, logistics, telecommunications, agriculture, wastewater treatment, and Fortune 500 utilities. Mainspring recently secured a $150 million unit purchase and project finance agreement with NextEra Energy Resources to promote deployment and renewable fuels adoption. The company plans to use new financing to scale U.S. customer deployments, expand manufacturing operations, and grow staff by more than 50%. Mainspring positions its technology as dispatchable and low‑cost, intended to enable greater use of solar and wind while reducing carbon and improving resilience. Guidehouse Insights is cited on the large market opportunity for distributed generation, estimated at $86 billion in 2020 and $212 billion by 2030. Mainspring is based in Menlo Park, Calif., and is backed by venture, strategic, and financial investors. EtaGen produces linear generators that use a low-temperature reaction of air and natural gas to drive magnets through copper coils and generate electricity. The company targets onsite electric power for commercial customers across industries such as utilities, grocery, banking, logistics, retail and telecom. EtaGen plans installations with customers in those industries and will use new funding to scale manufacturing and operations. The financing will also support expansion of its sales, marketing, and service teams. EtaGen is led by CEO Shannon Miller and was founded in 2010.

Participated · Series B · Apr 2025

Fairmat is a French industrial technology company focused on turning end-of-life carbon-fibre composites into new, high-value materials through its patented Infinity Recycling process. Using advanced robotics, artificial intelligence, software and machine learning, the firm already manufactures between 6,000 and 10,000 m² of circular composite sheets per month at its plants in France and the United States. Management aims to complete full-loop circularity by 2027 and to extend its recycled composite products into additional vertical markets. The company began commercial production earlier than planned in 2024, underscoring the scalability of its automated model and positioning it to fulfill growing customer orders. Financially, Fairmat secured €51.5 million in April 2023 and has now added another €10 million, bringing total disclosed funding to €61.5 million. The new capital will accelerate technology refinement and market expansion while reinforcing Fairmat’s ambition to become a global leader in sustainable advanced materials.