Participated · Series C · Jul 2015

Saavn is a music streaming service headquartered in New York with multiple offices in India, primarily focused on Indian music while serving users across 196 countries. It operates a freemium model with both ad-supported listening and a paid premium membership. Saavn claims a catalog of more than 20 million tracks and over 14 million users. The company has expanded beyond music into podcasts and announced plans to enter video and other new content. Saavn is developing original programming and exclusive artist collaborations to bridge the music and entertainment industries in India and the West; English-language content now represents about 15% of listening. Financially, Saavn raised a $100 million Series C last summer led by Tiger Global at a reported $300–$400 million valuation. Saavn operates a music streaming service focused on India and the Indian diaspora, with a heavy mobile and Android emphasis. The company reports 14 million monthly active users, up from 11 million earlier in the year, and says it is adding more than one million MAUs per month. Saavn offers an ad-supported model alongside a low-cost 'pro' tier and is investing in its advertising systems and sales force to monetize growth. The company plans to use new funding to scale its service and expand into video, aiming to become a broader mobile entertainment ecosystem. Leadership includes co-founders Rishi Malhotra (CEO), Vinodh Bhat, and Paramdeep Singh, among others.

Participated · Equity · Mar 2007

Intarcia Therapeutics develops long-acting, implantable drug-delivery therapies built on its proprietary Medici osmotic mini-pump technology. Its lead candidate, ITCA 650, is an investigational implant that delivers exenatide for the chronic treatment of type 2 diabetes; the company submitted its first New Drug Application for this product on November 21, 2016. Looking ahead, Intarcia is partnering with the Bill & Melinda Gates Foundation to adapt the Medici platform for an anti-HIV prophylactic aimed at regions with severe epidemics. The Gates collaboration also includes work on platform enhancements to broaden future therapeutic applications. Financially, the company is in the midst of a multi-tranche Series EE financing designed to fund late-stage clinical, regulatory, and commercialization efforts. Recent capital infusions, coupled with milestone payments such as the $100 million triggered by the ITCA 650 NDA submission, provide significant runway to advance its pipeline and platform.