Participated · Equity · Dec 2025

Niobium Microsystems is a Dayton-based company developing specialized chips that bring fully homomorphic encryption (FHE) into practical commercial use. Its custom silicon architecture allows data to remain encrypted even while it is being processed, offering mathematically guaranteed privacy for customers handling sensitive information. Led by CEO Kevin Yoder, the firm is currently building a production-ready application-specific integrated circuit (ASIC) and enhancing supporting infrastructure for pilot integrations. With offices in Portland and San Francisco, Niobium plans to broaden ecosystem enablement so partners can more readily adopt FHE-based solutions. The company recently secured more than $23 million in fresh capital to finalize its production silicon design and bolster customer-facing capabilities. Although financial performance metrics such as revenue or user count were not disclosed, the size of the latest raise underscores investor confidence in the company’s technology roadmap.

Participated · Equity · Apr 2025

HealthPlan Data Solutions (HDS) provides pharmacy payment integrity, benefit optimization, and pharmacy claims analytics through its Claim Scan and Spotlight platforms. Claim Scan continuously monitors 100% of pharmacy claims in near real-time using more than 500 customizable/proprietary claim-scanning algorithms and AI, enabling detection and recovery of adjudication errors before they escalate. HDS says it has saved payers millions and protected more than 8 million covered lives by identifying overpayments to PBMs, eliminating contractual gray areas, and strengthening plan sponsor fiduciary oversight. The company emphasizes continuous oversight rather than retrospective, one-time audits, allowing customers to uncover trends, fix claim-level errors, and drive contract alignment. Near-term product plans include expanding the technology platform, developing more robust analytics, enhancing service capabilities, adding automated workflows, more Claim Scan algorithms, and ease-of-use improvements to deliver additional value and efficiency.

Led · Series A · Aug 2024

Power to Hydrogen develops AEM (anion exchange membrane) electrolysis technology that converts renewable electricity and water into high‑pressure hydrogen using earth‑abundant materials. Its core product enables high current density and high‑pressure green hydrogen production while meeting industry durability requirements. The company is completing development of an industrial‑scale electrolysis stack and system for what it calls the largest AEM electrolysis stack installment in the world. Funding will support global expansion of R&D, manufacturing, sales, and marketing and growth of its U.S. team in Columbus, Ohio, plus new offices in Belgium. Rev1 Ventures and corporate partner Worthington Enterprises are backing the company, and Rev1 provides strategic services and customer collaborations alongside capital. To date Power to Hydrogen has secured over $18MM in total funding to advance commercialization of its technology.

Led · Seed · Aug 2024

HubiFi provides a finance intelligence and data management platform aimed at high-transaction finance and accounting teams. The platform automates accounting and continuous reconciliations, enabling companies to close accounting periods in hours rather than weeks. HubiFi’s system allows teams to aggregate and disaggregate by any segment to identify operational drivers and overlooked opportunities. The company launched a Stripe Connector to help enterprise accounting and finance teams measure revenue to cash. HubiFi says it has bootstrapped to validate its thesis and has attracted a customer cohort in high-transaction enterprise verticals, notably digital D2C and insurance. The company is led by William Kaper and Jason Berwanger and plans to use new funding to build a foundational product and engineering team and add CPA and accounting expertise.

Led · Seed · Jul 2024

RedNOx commercializes an ultra-sensitive sensor platform (derived from Ohio State technology) that measures NOx, N2O and CO2 with sensitivity below 1 ppm. The company targets mobility (engines and vehicles) and agriculture, positioning its sensors to meet ultra-low NOx regulatory limits and support precision nitrogen use in farming. RedNOx reports purchase orders from Cummins and Caterpillar as commercial traction. It has a robust patent portfolio with two agriculture-specific patents pending and conducts quarterly IP reviews. The company was awarded a $650,000 USDA SBIR Phase II non-dilutive grant to accelerate its agriculture sensor development. Management plans to use capital to fulfill the industrial purchase orders and complete development of the AGRI-NOX sensor.