Led · Equity · Oct 2022

Vega Cloud offers a SaaS multi-cloud management and optimization solution that uses data context and automation to help businesses make decisions and accelerate time to value. The platform provides unified visibility across major cloud providers, simplifies core optimization routines, and concentrates on lowering the cost of cloud consumption. Kris Bliesner serves as Chief Executive Officer. The company intends to use the new funding to scale product development and meet growing demand in the FinOps category. The raise strengthens its position in cloud cost optimization and supports broader commercial growth efforts. Vega Cloud builds a cloud management platform to help businesses manage public cloud infrastructure. The company is developing the Vega Cloud Management Platform and plans to expand sales and marketing using the new funding. Vega Cloud positions itself against complex, highly technical cloud infrastructure, addressing a market the company describes as a $50 billion annual marketplace. The company is led by CEO and co-founder Kris Bliesner, who co-founded Vega Cloud in April and previously co-founded 2nd Watch. Financially, Vega Cloud raised a $2.3 million seed round and also secured $250,000 in debt financing. The equity and debt will be used to grow go-to-market efforts and continue product development.

Participated · Series B · Jan 2022

3D Glass Solutions is a U.S.-based maker of glass-ceramic, three-dimensional integrated passive components and system-in-package devices using its patented APEX® photosensitive glass-ceramic technology. The company combines innovative glass process technologies with high-volume semiconductor manufacturing equipment to produce cost-effective, high-precision components for RF, photonic and datacenter applications. Its products offer low loss, high power handling, excellent thermal stability and ultra-low transmission loss across 1–200 GHz, enabling performance not possible with traditional 2D components. 3DGS serves markets including 5G, aerospace, healthcare, autonomous driving, automotive radar, mobile handsets, IoT, and defense. The company reports an ongoing increase in revenue and will use the new funding to expand U.S.-based manufacturing and production wafer capacity and accelerate its product roadmap for 3D heterogeneous integration solutions. It holds foundational patents across materials, design, systems and manufacturing for photosensitive glass-ceramic devices and offers device manufacturing and systems integration services for standard and custom products. 3D Glass Solutions (3DGS) develops and manufactures glass-based 3D passive RF devices and SiP components using its patented low-loss photosensitive APEX® glass-ceramic technology. The company supplies high-precision, high-frequency, low-loss products for automotive radar, IC electronics, medical, aerospace, defense, wireless infrastructure, mobile handset and IoT markets. 3DGS owns foundational patents across materials, design, systems and manufacturing for photosensitive glass-ceramic devices. Recent commercial activity includes a licensing agreement with Corning for through glass vias (TGV) processes in Corning HPFS fused silica and a long-term glass wafer supply agreement with Corning. 3DGS has a long-term supply agreement to provide components to Menlo Microsystems for its Ideal Switch™ as an initial use of the Corning-enabled technology. The company leverages its IP and manufacturing capabilities to expand into adjacent markets enabled by TGV and advanced glass packaging. 3D Glass Solutions fabricates electronic packages and devices using photo-definable, low-loss APEX® glass-ceramic technology to produce glass-based, three-dimensional passive RF components and system-in-package (SiP) devices. Its process yields low RF material loss, ultra-low transmission loss, precise 3D structuring of through-glass vias, and fine-line metallization enabling high interconnect density while minimizing warp. Target end markets include 5G and wireless infrastructure, automotive radar and autonomy, aerospace and defense, medical, mobile handsets and IoT. The company holds foundational patents covering photosensitive glass-ceramic materials, design, systems and manufacturing for glass-ceramic electronic packaging. 3DGS plans to use the Series B1 proceeds to purchase high-volume manufacturing equipment, expand cleanrooms, and increase production, sales management and engineering headcount to support rapidly growing customer demand. Management described the Series B1 as a monumental growth inflection point and part of an aggressive revenue growth strategy focused on transitioning to higher-volume production.

Participated · Equity · Jan 2021

BayoTech builds modular, scalable on-site hydrogen generation systems and delivers hydrogen through rentals, leases, sales and a Gas-as-a-Service model. Its technology reduces or eliminates transportation and storage costs versus centralized production, lowering carbon intensity compared with legacy steam methane reformers and some electrolyzer-based systems. The systems require lower upfront capital, enable streamlined siting and installation, and—when paired with renewable natural gas (RNG)—can provide cost-effective green hydrogen. BayoTech serves a diverse set of end users, including industrial gas and chemicals customers as well as fuel-cell and mobility applications. The company is headquartered in New Mexico and positions its products for rapid deployment to meet distributed hydrogen demand. Recent commercial traction includes agreements with HYZON Motors, IGas Energy and Nutrien, and the company filed four patents in 2020; management says the new investment follows a year of significant growth in its five-year journey. BayoTech develops advanced chemical reactors that enable distributed production of hydrogen and nitrogen fertilizer for agricultural and industrial markets. The company provides a platform for onsite production of hydrogen and nitrogen fertilizer. Founded in July 2015 and led by President and CEO Justin Eisenach, BayoTech is based in Albuquerque, NM. It closed a $12.5M Series B round to support its next stage of growth. The company intends to use the funds to expand infrastructure and complete commercialization of its technology. The financing is positioned to help BayoTech scale its distributed production offering into target markets.

Participated · Series A · Dec 2020

Founded in 2014 and headquartered in Los Alamos, New Mexico, UbiQD is a global leader in quantum dot manufacturing and technology. Its core products leverage proprietary quantum dots to manipulate light, most notably through UbiGro®, a greenhouse film that fluoresces to create a crop-optimizing light spectrum. The company is expanding production to meet growing demand across agriculture and clean-energy markets and recently signed a long-term supply agreement with First Solar. To finance this scale-up, UbiQD previously closed a $20 million Series B round and has now added venture debt to its capital stack. The new funds will support facility upgrades and specialized manufacturing equipment in New Mexico. UbiQD’s leadership team was further strengthened by the appointment of Tony Beams—whose background spans AppHarvest, Plenty, Netflix, and Headspace—as Chief Financial Officer. With additional capital and seasoned financial leadership, UbiQD is positioning itself for accelerated commercial growth while maintaining capital efficiency.

Led · Series A · Oct 2019

mPower Technology is a space solar company developing DragonSCALES, flexible solar modules for spacecraft. DragonSCALES are designed for mass production using standard silicon PV processes, enabling scalable solar power for spacecraft of all types. The company is led by CEO and President Kevin Hell and is based in Albuquerque, NM. mPower recently received a strategic investment from Lockheed Martin Ventures; the amount was not disclosed. The company intends to use the funds to scale production of its DragonSCALES modules. The article did not provide revenue, user metrics, or prior financing details. mPower Technology builds DragonSCALES™, a flexible, interconnected mesh of miniature solar cells designed for spacecraft, leveraging silicon PV and microelectronics manufacturing approaches. The company emphasizes low-cost, high-throughput production and resilient, lightweight designs to serve commercial and national security space missions. mPower highlights more than 12 years of combined on-orbit heritage and a growing customer roster including Airbus, Blue Origin/Honeybee, Firefly Aerospace, Lynk Global and Gravitics. To support demand it is bringing up a high-volume automated manufacturing line at Universal Instruments in Conklin, New York, capable of producing over 2 megawatts of DragonSCALES modules annually. The company holds a contract to supply more than 1.1 megawatts of modules for Airbus’ MDA AURORA™ program. The new capital will be used to scale production capacity, continue advancement of DragonSCALES, and accelerate deployment for next‑generation space missions. mPower Technology develops DragonSCALES™, an interconnected mesh of miniature solar cells that leverages materials, processes, and tools from the silicon photovoltaic and microelectronics industries. The company is led by president and CEO Kevin Hell and is based in Albuquerque, N.M. mPower positions DragonSCALES to enable new design options for solar power through its semiconductor-embedded approach. The firm closed an additional $1.85M in Series A funding as an extension to support product advancement. Proceeds are intended for development, testing, and sales of the DragonSCALES technology. The extension brought the total Series A round to $4.35M. mPower Technology is an Albuquerque, NM-based solar cell technology startup led by president and CEO Kevin Hell. The company has developed DragonSCALEs™ (SemiConductor Active Layer Embedded solar), an interconnected mesh of miniature solar cells. DragonSCALEs leverage affordable materials, processes, and tools from the silicon photovoltaic and microelectronics industries. The technology is intended to remove constraints of existing silicon and gallium arsenide solar solutions and enable new lightweight design options that can be rapidly deployed at low cost. mPower raised $2.5M in a Series A and plans to use the capital to commercialize DragonSCALEs in the aerospace market. Backers included Santa Fe-based Sun Mountain Capital.