Participated · Equity · Feb 2026

Monark Markets builds “Alts-as-a-Service” rails that connect brokerage firms and wealth managers to private-market products such as pre-IPO shares and 40' Act registered evergreen funds. Its API-first platform powers partners including Apex Fintech Solutions, Altruist Financial, and BBAE, giving more than 30 million retail investors exposure to roughly $450 billion in captive assets. Beyond technology, Monark curates a marketplace by sourcing issuers, performing due diligence, and negotiating distribution economics, while also handling subscription processing, custody, reporting, and secondary liquidity. The company argues retail allocations to alternatives could grow to 15-20 % over the next decade and aims to be the core infrastructure enabling that shift. Compliance and marketing support are embedded so partners can offer alternatives natively with minimal friction. With fresh capital, Monark plans to deepen its distribution network through additional platform integrations and widen its product set to include evergreen funds, fractional real estate, and secondary trading of private securities.

Led · Grant · Nov 2010

Anacor Pharmaceuticals is a Palo Alto-based biopharmaceutical company developing small-molecule therapeutics derived from its boron chemistry platform. The company has discovered and is developing five clinical compounds, including lead programs AN2690 (a topical antifungal for onychomycosis), AN2728 (a topical anti-inflammatory PDE-4 inhibitor for psoriasis) and GSK 2251052 (a systemic antibiotic optioned to GlaxoSmithKline). Additional candidates include AN2718 (topical antifungal) and AN2898 (topical anti-inflammatory for psoriasis and atopic dermatitis). Anacor is privately held; investors include Rho Ventures, Venrock Associates, Care Capital Investments and Aberdare Ventures. Financially, Anacor was awarded approximately $1.5M from the U.S. Department of the Treasury under the Qualifying Therapeutic Discovery Project Program, with $1.4M payable in November 2010 and $0.1M in the first quarter of 2011. The grant is part of a federal program under the Patient Protection and Affordable Care Act to support research aimed at producing new therapies for unmet medical needs. Anacor Pharmaceuticals develops topical treatments for fungal infections of the nails. The company is based in Palo Alto, Calif. Its lead program is a topical antifungal aimed at onychomycosis and is being advanced toward phase three clinical trials. Anacor has partnerships with GlaxoSmithKline and Schering‑Plough, both of which became stockholders. Financially, the company recently raised $50 million in a fifth round, bringing total capital raised to $87 million. It previously raised $5 million in a fourth round in 2006 and withdrew an IPO filing two weeks earlier due to poor market conditions.