Participated · Equity · Nov 2023

Averto Medical is a clinical-stage medical device company developing the ColoSeal™ intraluminal colonic diversion system to transform gastrointestinal care. Its first product, ColoSeal, enables procedures such as colorectal cancer resection without creating an invasive temporary diverting stoma. Early clinical data have shown promising results addressing a multi-billion dollar market opportunity. The company is led by CEO and founder Kenton Fong and is based in San Francisco. Averto, formerly known as Savage Medical, plans to use the newly raised funds to support growth of clinical testing of ColoSeal toward regulatory approvals. In connection with the financing, Ken Song, MD was named Executive Chairman and Dan Puckett and Bihua Chen joined the board of directors. Savage Medical is a San Francisco, CA–based clinical-stage medical technology company led by CEO Kenton Fong, M.D. The company is advancing the ColoSeal System™, which enables minimally invasive colorectal tumor removal and aims to eliminate the need for two open surgeries in today’s standard of care. Savage Medical intends to use its recent funding to support the ongoing clinical trial of the ColoSeal System. The company has been selected as a UCSF Rosenman Innovator company and a MedTech Innovator company. It has also been the recipient of U.S. National Cancer Institute (NCI) and U.S. National Science Foundation (NSF) Small Business Innovation Research (SBIR) grants. Financially, Savage Medical has raised over $3M in total funding.

Participated · Seed · Jul 2021

Paradromics is building the Connexus Brain-Computer Interface, an array of tiny electrodes implanted directly into brain tissue that reads neural signals and converts them into useful outputs, with an initial focus on restoring communication for people with severe paralysis. The company earned the FDA’s Breakthrough Device designation in 2023 and is preparing to launch its first human clinical trial later this year after opening an official patient registry in July. Although its technology has not yet received full FDA approval, Paradromics aims to commercialize BCI-based therapies before the end of the decade. The startup positions itself alongside competitors such as Neuralink, Precision Neuroscience, and Synchron, none of which have final FDA clearance. As part of its growth strategy, Paradromics will establish a Brain-Computer Interface Center of Excellence in Neom, Saudi Arabia. The company has not publicly disclosed revenue, user numbers, or other operating metrics. Its continued progress depends on securing regulatory approvals and scaling manufacturing for its high-channel neural implants.

Participated · Series B · Jul 2018

Cagent Vascular develops endovascular devices that combine serration remodeling therapy (SRT) with intravascular lithotripsy (IVL) to treat calcified peripheral and coronary arterial disease. Its Serranator portfolio has been used in over 40,000 procedures and is sold across most major U.S. markets and in select international markets. The company recently reported first human-use cases of its Serranator SONIC IVL System within the REMODEL I prospective, multicenter study. Cagent plans to advance the technology through a global REMODEL II pivotal trial and to commercialize the SONIC IVL System in peripheral arteries while developing a coronary artery platform. The company is headquartered in Wayne, Pa.

Participated · Series B · Oct 2011

CV Ingenuity is a Palo Alto, CA-based medical device company focused on developing a drug-eluting balloon platform to treat peripheral artery disease and reduce restenosis. The company's core product is a drug-eluting balloon technology intended to address PAD and prevent restenosis following interventions. CV Ingenuity is led by CEO Duke Rohlen. The company closed a $16m Series B financing led by New Enterprise Associates, with participation from existing investors BioStar Ventures, Synergy Ventures and Western Technology. It intends to use the funds to accelerate product development and expand its executive team. As part of the financing, NEA General Partner Ryan Drant and principal Justin Klein will join the company's board of directors.

Participated · Series A · Jan 2011

TruTouch Technologies develops, manufactures and sells a patented, noninvasive alcohol detection and biometric testing system that measures alcohol concentration through the skin using a safe infrared light and an optical touch pad. The device is networked and includes biometric capability to verify user identity and ensure test integrity. The company intends to use recent funding to expand sales of its products into the global energy, mining and transportation industries. TruTouch is led by President and CEO Dr. Richard D. Gill, with co-founders Trent Ridder Ph.D. (CTO) and Ben Ver Steeg (VP Engineering), CFO David Desrochers CPA, and SVP Sales and Strategic Partnerships Oscar Lazaro. The article reports a $2.2M funding infusion to support the company’s commercial expansion. TruTouch Technologies develops, manufactures, and sells patented noninvasive biometric alcohol testing systems that use light and a fiber-optic touchpad to measure alcohol levels and verify user identity without collecting bodily fluids. The company’s self-administered TruTouch 2500 requires no disposables, no user training, and no operator assistance. TruTouch says its devices are aimed first at workplace safety and fitness-for-duty monitoring to prevent impaired employees from starting shifts. Future applications listed by the company include medical diagnostics, alcohol point-of-sale liability reduction, law enforcement, and industrial safety systems. TruTouch topped up its B-1 financing to $4.3M, funds the company says will enable it to build sales revenues toward profitability. The company is based in Framingham, Massachusetts and Riverside, California. TruTouch Technologies develops and commercializes patented noninvasive biometric alcohol-testing systems that use an optical sensor and a fiber-optic touchpad to measure alcohol concentration while simultaneously verifying user identity. The self-administered test produces accurate results in seconds without collecting bodily fluids, disposables, operator assistance, or user training. TruTouch’s products perform built-in biometric identification to ensure test-result integrity and are positioned for workplace, medical, point-of-sale, law enforcement, and industrial safety use cases. The company said the financing will enable it to build sales revenues through direct sales and to secure additional licensing partners as it advances commercialization. Management described the financing as a significant milestone in commercializing the TruTouch alcohol measurement technology. TruTouch is based in Albuquerque, N.M., and Framingham, Mass. TruTouch Technologies develops, manufactures and sells patented noninvasive biometric alcohol testing systems, including the TruTouch Guardian and finger-touch devices. The TruTouch Guardian uses infrared scanning to measure alcohol levels and includes biometric identification, producing accurate results in less than a minute without samples or disposables. The TruTouch 2000 finger-touch system currently provides analysis in 15 seconds and is being developed toward a portable TruTouch 3000. The company says its devices require no user training, no disposables, no samples, and no operator assistance. TruTouch is commercializing systems in law enforcement support, oil drilling, military and transportation workplace markets and plans to pursue medical, point-of-sale and automotive OEM partners. The company closed an expanded A-1 $2.1 million interim venture and angel funding round to support continued product commercialization and new technology development. TruTouch Technologies develops non-invasive biometric intoxication detection systems. Its flagship product, the TruTouch Guardian, is an advanced intoxication detection device that uses light to measure a subject's alcohol level rather than bodily fluids. The company is based in Albuquerque, NM. TruTouch recently closed a $1.3M venture and angel interim funding round. The round was led by the Verge Fund with participation from Launchpad Venture Group, Synergy Ventures, Fort Washington Investment Advisors and individual private investors. Proceeds will be used to support product commercialization and new technology development.