Participated · Equity · May 2022

Azumo develops LCD 2.0™, a next‑generation reflective display technology that targets sunlight readability and low power consumption. Its LCD 2.0 technology delivers up to 10x the energy savings versus traditional backlit LCDs while remaining extremely thin and eye safe. The company holds 47 patents and offers displays ranging from 1" to 17", combining high video‑rate capability with superior readability in bright sunlight to eliminate glare. Azumo targets consumer, medical, industrial, educational, and automotive markets and is positioning its technology for a variety of device form factors. The new financing is intended to accelerate international expansion, increase manufacturing capabilities, and support the launch of new products. Azumo also plans to expand sales and applications engineering support and grow its international team while leveraging a partnership with a global electronics manufacturer to scale supply chain and production. FLEx Lighting, founded in 2008 in Chicago, develops LCD 2.0™ — a next-generation reflective display technology that delivers full-color, video-rate capability with ultra-thin light transmission. The technology promises up to 10x battery power savings and best-in-class reflective color while providing superb sunlight readability without glare. FLEx targets consumer, educational, medical, industrial, and IoT markets with displays ranging from 1" to 21" diagonals. The company plans to commercialize tablet-sized reflective displays and expand its portfolio to include consumer and educational tablets as well as portable devices for industrial and medical use. FLEx is expanding its global footprint by opening an office in Changzhou, China to support partners and its growing customer base. The company recently raised $9 million to fund global growth and commercialization of its new displays. FLEx Lighting develops front-light systems for device displays that are power-efficient and sunlight-readable, targeting reflective LCDs used in mobile devices. Its core products provide front lighting solutions that improve readability while minimizing power consumption. The company plans to expand its product lineup into tablet-sized and 7-inch+ displays for consumer applications and larger personal information displays. FLEx also intends to widen distribution channels and increase global representation. Founded in 2004 and led by CEO Mike Casper, the company benefits from strategic supplier relationships, including investor SABIC, which can expand its supply chain and materials expertise. Financially, FLEx closed a $9M Series B to support product development and market expansion.

Led · Equity · Mar 2019

Mallinda develops pre-cured reversible thermoset composite materials that are shelf-stable and eliminate refrigerated transport and storage. The materials are designed to reduce scrap and improve cycle time dynamics in manufacturing. Its thermoset composites can be recycled back to monomer in an energy-neutral environment for recovery and reuse of resin and reinforcing fibers. The company intends to use the funds to scale up and deliver its first commercial product. Mallinda also plans to accelerate development of high-performance materials for the transportation segment. The company is led by co-founder and CEO Chris Kaffer.

Participated · Series C · Oct 2018

MTPV Power Corporation develops semiconductor chips that convert heat directly into electricity. Its technology is described as analogous to a solar panel, but for any source of heat. The company is led by President and CEO David Mather and is based in Medford, MA and Austin, TX. It raised $16M in a Series C financing to support expansion. The company said it will use the funds to expand operations and broaden its business reach. The round included lead and follow-on investors supporting continued commercialization efforts. MTPV Power Corporation develops semiconductor chips that convert any source of heat into electricity. The technology was developed over roughly 15 years beginning at MIT and Draper Laboratory and has been advanced in MTPV's labs for the last five years. The company’s patent portfolio includes five awarded patents, nine pending awards and over 48 foreign patent filings. MTPV is led by Bob DiMatteo and David Mather and is based in Austin, TX and Boston, MA. It raised $11.2M in a Series B1 financing and intends to use the proceeds to begin commercializing its technology. Investors in the round include Northwater Capital Management's Intellectual Property Fund and other energy and finance investors. MTPV Power develops modular semiconductor chips that convert heat directly into electricity, based on research at MIT. The company’s chips are designed to generate electricity using 45% less heat than traditional systems. Leadership includes CEO and founder Bob DiMatteo and President/COO David Mather. MTPV is Austin, TX–based. The company completed the final closing of its Series B with an additional $3.25M. That funding closed out a round that began with a $6.75M closing in August of the prior year. MTPV develops semiconductor chips designed to convert heat directly into electricity, based on research at MIT. The company is led by CEO and founder Bob DiMatteo and is headquartered in Austin, TX. It is commercializing its first prototypes and is conducting beta testing of those initial commercial units. MTPV plans to use the new funding to expand beta testing and to scale its manufacturing capabilities. Financially, the company has completed an initial closing of its Series B and is pursuing additional equity to finish the round.

Led · Equity · Feb 2013

FibeRio is a McAllen, Texas–based developer and manufacturer of nanofiber production systems founded in 2009. Its core product is the Forcespinning platform, which enables manufacturers to produce nanofibers at commercial scale using a wide range of polymers and an environmentally sensitive process. The company supplies nanofibers for markets including filtration, nonwovens, battery separators, textiles, biomedical and conductive applications. FibeRio intends to use the recent funding to accelerate commercial growth and introduce larger-scale production systems to the market. The company is led by CEO Ellery Buchanan.