After years of subsidized operations, the funds pass to a court-appointed receiver. Settlement includes no admission of wrongdoing and a path to closing the long-overdue funds.

NEW YORK, Oct. 12, 2026 — SQN Capital Management, LLC (“SQN”) and Jeremiah Silkowski, its sole remaining partner, have settled a complaint with the U.S. Securities and Exchange Commission and will exit the investment advisory business with an agreement that will result in the wind-down of the firm’s remaining equipment leasing funds. Silkowski voluntarily offered to exit the advisory business, and that offer was accepted as part of the resolution. The complaint resolved by the settlement contains no allegation of misuse of investor funds or of personal benefit from any of the alleged violations.

The SQN funds invested in portfolios of equipment leases, equipment-backed loans, and asset financing arrangements. Investors received regular cash distributions during each fund’s operating period. Together with early liquidation distributions, investors in the two largest SQN funds received back between 51% and 65% of their initial capital. The investments remaining after those distributions were largely residual interests in assets such as marine vessels, which were illiquid with no expected net cash flow until sold or refinanced.

Liquidations were delayed by the onset of the COVID-19 pandemic and remained delayed for more than five years, during which time SQN subsidized the operations of the remaining funds due to the lack of cash flow coming from the majority of the remaining investments, including the funds’ largest assets. After more than a year of engagement with the Commission, SQN no longer had the resources to support both continued fund management operations and the regulatory compliance required to remain in good standing.

The Commission’s allegations rest in part on the view that SQN overstated investment values by not adjusting the carrying value of fund units after the start of the pandemic. SQN maintained those values based on a series of potential exit opportunities which, for different reasons, failed to materialize. Those efforts are evidenced by a number of actions, including the nearly $20,000,000 distribution made to investors in 2020 as the first phase of the planned liquidation.

Subsequent to that distribution, and as additional evidence of the efforts being undertaken, SQN spent a considerable amount of time and its own resources bringing to market a roll-up transaction that specifically identified the SQN assets for sale to a group of investors representing more than $200 million, put together by an overseas boutique investment advisory firm. The roll-up investment vehicle was registered and partially funded before market dynamics and other matters delayed the consummation of the transaction, at which point the investors fell away. SQN also continued its efforts to market and sell the portfolios to insurance companies, the exit strategy used for SQN’s first two funds, which resulted in IRRs of more than 10% for investors in those funds.

To the extent that the SEC raised concerns that investors may have been disadvantaged by redemptions issued by the funds during the period when the valuations were not adjusted, it should be noted that the cash to fund those redemptions was primarily contributed by SQN as a fund subsidy, out of SQN’s already limited resources. Those redemptions mainly went to investors experiencing extreme hardship, including dual job loss, foreclosure, a seriously sick child, cancer treatment, deceased spouses, Alzheimer’s and elder care, and other tragic life events.

During the period in question, there was no active market in which an investor could, or did, acquire or readily dispose of units in the SQN funds. The funds were illiquid at all points, no secondary market existed, or exists, for the units, and no investor was materially disadvantaged by relying on the information provided by SQN.

“The staff of the SEC are highly competent people carrying out an important public function. The staff handled their undertaking with regard to SQN with diligence and professionalism,” said Jeremiah Silkowski. “Unfortunately, SQN did not have the resources required to adequately respond to all of the SEC’s inquiries, which resulted in adverse findings that otherwise may have been rectified or shown to be incorrect if SQN had sufficient means available. We made the decision to put the funds and their investors first by using the limited resources available to pay the operating expenses of the funds and issue K-1s to investors. Like investors, SQN wants these funds liquidated, and the settlement is a path to this end.”

SQN’s prior history of regulatory fines, which the SEC characterizes as recidivist conduct, began with a dispute with a service provider, led by former partners of SQN, that withheld the books and records of the funds. SQN and Silkowski did not have the resources both to continue subsidizing the operations and liquidation of the funds and to engage in a costly legal dispute to compel the servicer to hand over the records. This matter remains ongoing.

Following the settlement, the fund liquidations will be handed over to a court-appointed receiver. SQN Capital Management will write off all amounts due from and contributed to the funds and will cooperate with the receiver to facilitate the closure of the funds.

Media Contact:
Ali V. Mirghahari
Friedman Sklar PLLC
[email protected]

SOURCE SQN Capital Management

SINGAPOUR et AMSTERDAM, 12 octobre 2026 — SWI Group (« SWI » ; SWICH), coté sur Euronext Amsterdam, annonce aujourd’hui une augmentation de capital de 800 millions d’euros auprès d’investisseurs institutionnels.

L’augmentation de capital est réalisée par l’émission, par SWICH, de nouvelles actions ordinaires en plusieurs tranches, ce qui porte le capital social total à 558 399 385 actions ordinaires. L’opération porte le montant total des fonds propres levés depuis mars 2026 à plus d’un milliard d’euros.

Cette opération marque une étape majeure dans la transformation de SWI Group, en lui apportant des capitaux propres supplémentaires considérables qui permettront d’accélérer la consolidation et l’expansion de son infrastructure numérique transatlantique et de sa plateforme de calcul basée sur l’IA en Europe et aux États-Unis.

Dans le cadre de la transformation annoncée par le groupe, les fonds levés serviront à soutenir le développement et l’extension des capacités du groupe en matière de centres de données et de calcul d’IA, notamment les infrastructures électriques, les déploiements informatiques et la mise en œuvre de son programme de développement des deux côtés de l’Atlantique.

Cette augmentation de capital renforce considérablement le bilan de SWI Group et lui confère une capacité financière supplémentaire pour mettre en œuvre sa stratégie de croissance à grande échelle, notamment en réalisant de nouveaux investissements dans l’IA et en renforçant sa participation dans ses investissements existants. Elle élargit également sa base d’actionnaires institutionnels tout en renforçant la liquidité du marché et en portant le flottant de la société à environ 20 % du capital social.

« Cette opération vise à rester en phase avec l’évolution des marchés de l’informatique et des centres de données. Nous disposons d’une stratégie claire, d’un portefeuille de projets important et d’une position solide en Europe et aux États-Unis. Nous sommes très heureux d’accueillir de nouveaux investisseurs qui partagent notre ambition à long terme pour le groupe », déclare Max-Hervé George, fondateur et CEO, SWI Group.

Dans le cadre de cette opération, certains investisseurs se voient attribuer des options sur leurs actions, subordonnées à la réalisation d’étapes ECM clés.

Ce communiqué de presse contient des informations qui sont ou peuvent constituer des informations privilégiées au sens envisagé par le règlement sur les abus de marché (UE) 596/2014.

À propos de SWI Group

SWI Capital Holding Ltd. (www.swi.com), coté sur Euronext Amsterdam sous le mnémo SWICH (ISIN : SGXPZ11CH7U7), est la société holding de SWI Group. SWI Group est une plateforme mondiale d’investissement numérique dont l’activité principale repose sur des participations à long terme dans le domaine des infrastructures numériques. Le groupe propose des solutions d’investissement de premier ordre, favorisant la croissance, la résilience et la création de valeur à long terme sur l’ensemble des marchés.

SINGAPUR und AMSTERDAM, 12. Oktober 2026 — Die an der Euronext Amsterdam notierte SWI Group („SWI”; SWICH) gibt heute eine Kapitalerhöhung in Höhe von 800 Millionen Euro mit institutionellen Investoren bekannt.

Die Kapitalerhöhung erfolgt durch die Ausgabe neuer Stammaktien durch SWICH in mehreren Tranchen, wodurch sich die Gesamtzahl der Stammaktien auf 558 399 385 erhöht. Damit beläuft sich das seit März 2026 insgesamt eingeworbene Eigenkapital auf über 1 Milliarde Euro.

Die Transaktion stellt einen wichtigen Meilenstein in der Transformation der SWI Group dar und verschafft dem Unternehmen erhebliches zusätzliches Eigenkapital, um die Konsolidierung und den Ausbau seiner transatlantischen digitalen Infrastruktur sowie seiner KI-Rechenplattform in Europa und den Vereinigten Staaten voranzutreiben.

Im Rahmen der vom Konzern angekündigten Transformation werden die Erlöse den Ausbau sowie die Skalierung der Rechenzentrums- und KI-Rechenkapazitäten des Konzerns unterstützen, darunter die Strominfrastruktur, die Bereitstellung von Rechenkapazitäten sowie die Umsetzung seiner Projektpipeline auf beiden Seiten des Atlantiks.

Die Kapitalerhöhung stärkt die Bilanz der SWI Group erheblich und verschafft dem Konzern zusätzliche finanzielle Spielräume, um seine Wachstumsstrategie in großem Maßstab umzusetzen, darunter weitere Investitionen in KI sowie die Aufstockung bestehender Beteiligungen. Zudem erweitert die Kapitalerhöhung die institutionelle Aktionärsbasis, verbessert die Marktliquidität und erhöht den Streubesitz des Unternehmens auf etwa 20 % des Grundkapitals.

„Bei dieser Transaktion geht es darum, mit den Entwicklungen auf den Märkten für Rechenleistung und Rechenzentren Schritt zu halten. Wir verfügen über eine klare Strategie, eine umfangreiche Pipeline sowie eine starke Position in Europa und den Vereinigten Staaten. Wir freuen uns sehr, neue Investoren begrüßen zu dürfen, die unser langfristiges Ziel für den Konzern teilen”, sagte Max-Hervé George, Gründer und Vorstandsvorsitzender der SWI Group.

Im Rahmen der Transaktion werden bestimmten Investoren Optionen im Zusammenhang mit ihren Aktien gewährt, die an das Erreichen von ECM-Meilensteinen geknüpft sind.

Diese Pressemitteilung enthält Informationen, die Insiderinformationen im Sinne der Marktmissbrauchsverordnung (EU) Nr. 596/2014 darstellen oder darstellen können.

Informationen zur SWI Group

SWI Capital Holding Ltd. (www.swi.com), notiert an der Euronext Amsterdam unter dem Tickersymbol SWICH (ISIN: SGXPZ11CH7U7), ist die Holdinggesellschaft der SWI Group. Die SWI Group agiert als globale digitale Investitionsplattform mit einem Schwerpunkt auf langfristigen Beteiligungen im Bereich der digitalen Infrastruktur. Die Gruppe bietet erstklassige Anlagelösungen und fördert damit Wachstum, Widerstandsfähigkeit sowie langfristige Wertschöpfung in verschiedenen Märkten.

FARGO, N.D., Oct. 12, 2026 — Sharp Biomedical, a medical device company pioneering accessible, safe, and manual procedures for outpatient pain clinics, announced today the successful closing of its pre-seed funding round. The round was led by gener8tor 1889, a North Dakota venture capital fund, with participation from several physician angel investors.

The new capital will fully fund the development and testing pathway necessary to bring Sharp Biomedical’s first purpose-built toolset and implant system to market. Designed specifically to fit within the workflow of outpatient pain clinics, the technology provides a critical new option for early-to-mid-stage chronic pain patients.

Sharp Biomedical is pioneering a complementary path forward for the industry, firmly grounded in simple procedures. The company is developing elegant, safe, and entirely manual procedures designed to be completed seamlessly within outpatient facilities. This approach broadens patient access by shifting effective interventions directly into local clinics, all without requiring intensive capital expenditures or massive infrastructure overhauls.

“While the industry is rightfully focused on remarkable advancements in robotics and complex technologies for late-stage spinal care, we see a massive unmet need earlier in the care continuum,” said Dan Newman, Founder and CEO of Sharp Biomedical. “We are thrilled to partner with gener8tor 1889 and our angel investors to finalize our development. This pre-seed funding allows us to empower physicians with simple, safe, and reliable procedures—giving clinics advanced intervention capabilities without the burden of massive capital demands.”

“Dan is an extremely impressive startup founder, and we have built a huge amount of conviction in him and the entire Sharp Biomedical team,” said Ben Stanley, Principal of gener8tor 1889. “Their mission to democratize access to spine care by empowering outpatient clinics with fast, safe, and reliable toolsets is a breath of fresh air in a highly complex industry. We look forward to both the profound impact this technology will have on patient care, along with their continued commitment to growing the North Dakota biotech ecosystem.”

The medical community is also recognizing the clinical potential of Sharp Biomedical’s streamlined approach. “I’m excited to partner with Sharp Biomedical as they fill a vital gap in the market,” said Dr. Danny Neuman, Interventional Pain Specialist, Medical Staff President at Ascentist Healthcare, and advisor to Sharp. “What sets Sharp apart is their intelligent design process, rooted in true collaborative input from physicians to directly address real clinical needs. This partnership will allow us to intervene earlier in the care continuum and offer definitive relief right in the outpatient setting, and their talented team is exceptionally well-positioned to drive these advancements.”

With funding secured, Sharp Biomedical is aggressively moving forward with its rigorous testing protocols and physician input, positioning the company for its next regulatory milestones and the eventual commercial launch of its flagship device.

About Sharp Biomedical Sharp Biomedical is a medical device company focused on creating novel, streamlined toolsets and implants for spinal care. By designing safe, manual procedures that can be performed in less operating time, Sharp Biomedical empowers outpatient pain clinics to treat early-to-mid-stage chronic pain, reducing the industry’s reliance on large hospital infrastructure, robotics, and prolonged operating times.

About Gener8tor gener8tor is a global venture firm and accelerator network that supports startups, founders, workers, employers, artists, and musicians across race, place, and gender. Gener8tor partners with companies, governments, universities, and nonprofits to operate programs in more than 41 communities across 22 states and two countries. gener8tor 1889 is a Venture Capital fund focused on North Dakota startups operated by gener8tor.

SOURCE Sharp Biomedical

Funding strengthens Subeca’s position as a leading provider of affordable smart water infrastructure and accelerates utility adoption across North America

CARY, N.C., Oct. 12, 2026 — Subeca today announced approximately $3M in additional funding to further deliver hardware and software solutions for utility metering and net-zero sustainability metering. The Series A-2 was led by Burnt Island Ventures, the most active venture investor in the global water industry, with participation from Cycle H2O, a leading water technology venture fund, and SUEZ, a global water technology company, and several additional investors.

“Plenty of companies talk about disrupting the water industry. We’re actually doing it, and we’re doing it for the utilities and operators where legacy solutions have proven too complex and too costly. This funding fuels our rapid growth and our commitment to bringing real-time meter data to small and medium-sized utilities and hyperscalers, because every water provider deserves the tools to serve its customers and meet its sustainability goals,” said Anne Mushow, Chief Executive Officer of Subeca.

“We see the billion dollar opportunity around an unmet need for affordable smart meter infrastructure and AI-native software. Subeca is now live across 23 communities offering its bundled smart meter plus software package. We are so impressed with Anne and her team as they continue to impress as they deliver on their vision of smart water meters for all,” said Christine Boyle, General Partner at Burnt Island Ventures.

Subeca’s differentiated offering provides simple, easy-to-deploy options for the more than 51,000 utilities and businesses in the US that have been locked out of the benefits of advanced metering technology due to the cost and complexity of legacy technology solutions. Produced in Cary, North Carolina, Subeca’s communication module utilizes Amazon’s Sidewalk network, a free communications network that covers more than 90% of the US population as well as parts of Canada and Mexico, to help customers proactively manage water infrastructure and detect and resolve water leaks early.

The investment further strengthens Subeca’s existing ecosystem of strategic water industry partners. Since its Series A financing, the company has built relationships with leading organizations across water technology, digital infrastructure, and utility operations, creating a strong foundation for future growth.

In addition to providing growth capital, new investor Cycle H2O brings a uniquely strategic combination of investment expertise, industry relationships, and commercial networks focused exclusively on the water sector. Through its close partnership with H2O Innovation, one of North America’s leading water solutions providers, Cycle H2O offers Subeca access to a broad network of municipal and industrial water customers, technical expertise, and market development opportunities.

“We are proud to support Subeca, whose platform addresses one of the most important challenges facing the water sector: making digital water management solutions accessible and affordable for utilities of all sizes. Through Cycle H2O, under Simon Olivier’s leadership, we are pleased to join as a new investor in Subeca’s practical, scalable innovation. Their technology, which helps utilities detect leaks, conserve water and cut operating costs, aligns perfectly with our thesis of backing technologies that accelerate the sustainable transformation of essential industries,” said Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital.

Subeca’s 2024 Series A raised $6M led by SUEZ, with additional investment by Burnt Island Ventures and Amazon’s Climate Pledge Fund, Amazon’s sustainability-focused corporate venture fund.

SOURCE Subeca

Senior appointment underscores the firm’s continued focus on enhancing technology and data capabilities to support investment platform evolution

DALLAS and NEW YORK, Oct. 12, 2026 — Canyon Partners (“Canyon”), a $30 billion global alternative investment manager, today announced the appointment of Chris Hansen as Partner and Chief Information Officer.

Based in New York, Mr. Hansen oversees the firm’s technology strategy and infrastructure, including information technology, business technology, engineering, data architecture, and the integration of artificial intelligence and alternative data across Canyon’s investment platform. He will work closely with Canyon’s investment and operating teams to further integrate technology and data across investment research, underwriting, portfolio management, and firmwide operations.

Mr. Hansen joins Canyon from TPG Angelo Gordon, where he served as Managing Director and Head of Product and Application Development. During his twelve-year tenure at the firm, he led the modernization of the firm’s technology stack, including its cloud migration and the rebuilding of its portfolio analytics platform. Mr. Hansen also drove the early adoption of AI and alternative data across the firm. Prior to TPG Angelo Gordon, Mr. Hansen was Managing Director for Global Markets Electronic Trading Technology at Bank of America Merrill Lynch.

“Chris brings to the firm significant experience at the intersection of technology and investment management,” said Jonathan Kaplan, Co-Chief Operating Officer. “Technology and data are integral to our investment process, helping our teams identify opportunities, evaluate risk, and deliver value for clients. We are excited to welcome Chris to Canyon and look forward to further leveraging his expertise across the entire platform.”

About Canyon Partners, LLC

Founded in 1990, Canyon employs a deep value, credit intensive approach across public and private corporate credit, asset-backed credit, and real estate. The firm seeks to capture excess returns available to those investors with specialized expertise, rigorous research capabilities, and the ability to underwrite complexity. Canyon invests on behalf of a broad range of institutions globally. For more information visit www.canyonpartners.com.

Media Contact
Canyon Partners
[email protected]
203-745-2523

SOURCE Canyon Partners, LLC

Following US$26 million in funding from lead investors Luminous Ventures and Huaqin, Mistlabs’ CEO Peter Mo introduces ambient AI that runs in real-time, setting the stage for AI-to-AI communication between independent AI devices

SAN FRANCISCO, Oct. 12, 2026 — Mistlabs, a U.S. developer of cross-platform ambient intelligence technologies, is launching Ambi. Launching out of beta on Apple devices, Ambi is a groundbreaking ambient intelligence system that conducts real-time reasoning, followed by agent-to-agent communication between AI-enabled devices in the coming months. Ambi’s launch follows US$26 million in Pre-A funding led by Luminous Ventures and Huaqin, which will fund the development of Mistlabs’ standalone AI wearable.

Mistlabs CEO Peter Mo has led the creation of a new kind of ambient intelligence system. Initially available on Apple devices, with the company’s self-developed AI wearable set to follow later this year, Ambi acts less like a summarizer and more like an always available live counsel that users can carry with them.

Because each Ambi develops an independent understanding of its user across multiple devices, the company aims to use the new capability of agent-to-agent communication to exchange relevant context and coordinate with other Ambi agents on their users’ behalf. This will extend to real-time negotiations during meetings, where AI agents of each respective Ambi user can communicate with one another, within the guideline of user-granted permissions. Ambi will identify where their respective users’ priorities align and help negotiate toward mutually acceptable outcomes as the conversation unfolds automatically and in real-time.

“Most AI platforms today are built around completing tasks, but Ambi is our first step toward answering a different question: what happens when AI can understand, reason and act in real time? What entirely new use cases have become possible?” said Peter Mo, CEO of Mistlabs. “We’re moving beyond AI that simply waits for a prompt. Ambi introduces real-time reasoning and actions that can happen sometimes before the user even thinks to ask; and in the coming months it will extend to mediating between users and maintaining intelligence across platforms.”

Real-Time Ambient Intelligence That Thinks Ahead
Rather than simply waiting for a question and delivering an answer, Ambi builds a contextual understanding of the user throughout their day continuously across multiple devices. This enables it to identify opportunities to proactively deliver an outcome.

Ambi’s ‘Routine’ feature calls on multiple agents to conduct a recurring task. When used, for example, during a meeting about competitors, Ambi will independently analyze and fact check the conversation while it happens. In parallel, even before a meeting finishes, Ambi may have cross-referenced competing products, and organized the information into a draft proposal to present from the user’s MacBook. It anticipates next steps and actions for the user to consider, moving the project forward before the follow-up meeting.

Even if the user is no longer actively thinking about the project, the same intelligence can continue working beyond the meeting. It recognizes irregularities, missing information or new developments throughout a project’s lifecycle and proactively flags what may require attention to keep work moving forward and keep them on task. These insights are retained in Ambi’s memory, allowing its understanding, routines, and ongoing actions to carry seamlessly from one device to another, be it a MacBook, Apple Watch, or an iPhone.

Developing Contextual Intelligence for the Future of Agent-to-Agent Communication
Ambi builds context by observing and recapping relevant conversations and activities across supported platforms and devices, while developing an understanding of the user that is retained in memory, from their preferences and priorities to how they communicate and work. This deeper understanding enables Ambi’s AI agent to act on the user’s behalf in real time, serving not only as an assistant, but also will be further expanded into acting as a collaborator or mediator in the following months.

When two independent users with Ambi-compatible devices are in the same meeting, their respective agents can communicate with one another, each drawing on its understanding of its own user. This enables the agents to identify where priorities align, surface potential points of disagreement and suggest outcomes that better account for the needs of both sides.

From Cross-Device Intelligence to a Purpose-Built AI Wearable
While Ambi today is focused on delivering contextual ambient intelligence across Apple devices compatible with iOS 18 or Macs, it is designed with user privacy in mind, with audio not stored by default.

More broadly, Ambi represents a move beyond an AI landscape largely centered on task management, summarization and one-off recommendations. Rather than simply telling users what happened or what they should do next, Ambi’s live counsel in your pocket understands situations as they unfold, providing guidance in real time and taking action on the spot when appropriate.

Ambi’s Future Hardware Development Plans
Ambi is also developing its own wearable AI hardware, designed to give its ambient intelligence a richer understanding of the user and the context surrounding them. “While we’re starting with the iPhone, Apple Watch, MacBook and Mac, our move into standalone hardware sets the stage for Ambi’s intelligence to extend across entirely new device types in the future,” said Mo.

By extending beyond existing devices into purpose-built cross-platform hardware, Ambi can build an even deeper contextual understanding over time of the user and the context surrounding them. This additional context can make its memory, recommendations and routines more personalized and useful over time.

To download Ambi visit: https://www.ambi.ai/download/
To waitlist for Ambi visit: https://www.ambi.ai/waitlist/
To access the press kit, visit: Ambi Press Kit 

About Mistlabs
Headquartered in San Francisco, Mistlabs‘ CEO Peter Mo is the developer of Ambi, a cross-platform ambient intelligence platform that reasons and outputs recommendations in real-time. Launched first on Apple devices including the iPhone, Apple Watch, Mac and MacBook, Ambi is also set to expand into wearable AI devices. Mistlabs has raised US$26 million in Pre-A funding, led by notable investors including Luminous Ventures and Huaqin Technology.

To learn more about Mistlabs Limited visit: https://www.ambi.ai/

Media Contact:
[email protected]

SOURCE Mistlabs Limited

SPRINGFIELD, N.J., Oct. 12, 2026 — United Window & Door Manufacturing, Inc. (“UWD”), a leading manufacturer of vinyl windows and doors based in New Jersey, today announced it received a strategic growth investment from The Sterling Group (“Sterling”), an operationally focused middle market private equity firm. Sterling’s investment will support the company’s expansion into new geographies and the broader enhancement of service levels, which include building a planned state-of-the-art manufacturing facility in Tennessee. Howard Rose and Nick Derrico, Co-Founders of UWD, will continue to lead the business.

United Window & Door is one of the largest and fastest-growing regional manufacturers of high-quality vinyl windows and doors in North America. Founded in 1988 by Howard Rose and Nick Derrico, UWD serves over 2,000 points of distribution and is known for innovation, exceptional service, and operational excellence.

“We believe Howard and Nick have built an exceptional business with a history of consistent growth and tremendous upside potential,” said Kent Wallace, Partner of The Sterling Group. Johann Friese, Director of The Sterling Group, added, “We look forward to collaborating with the UWD team as they execute their strategic plan, including scaling the company’s manufacturing footprint with the planned Tennessee plant as well as other geographic expansion projects. We are pleased to support UWD’s continued success.”

“We are excited to partner with Sterling as we enter UWD’s next phase of growth,” said Howard Rose, Co-Founder of United Window & Door. “This investment will enable us to pursue our strategic initiatives, including extending our reach while maintaining the operational excellence that our loyal customer base has come to expect.”

“Sterling is the ideal partner as we look to the future and expand our capabilities and geographic footprint to serve our customers more effectively,” added Nick Derrico, Co-Founder of United Window & Door.

The Sterling Group has a long history of collaborating with families, entrepreneurs, and their leadership teams to support the growth of their businesses.

RBC Capital Markets, LLC acted as exclusive financial advisor to United Window & Door. FBT Gibbons served as legal advisor to United Window & Door, and Latham & Watkins served as legal advisor to The Sterling Group.

About United Window & Door

Founded in 1988, United Window & Door is a leading manufacturer of premium vinyl windows and patio doors for residential and light commercial applications. Operating out of three modern facilities in New Jersey, UWD sells through a diverse base of lumber distributors, specialty distributors, and retailers that serve homebuilders and contractors throughout the eastern United States. With a focus on quality, innovation, and service, UWD has historically demonstrated consistent organic growth and strong profitability. For more information, visit www.unitedwindowmfg.com.

About The Sterling Group

Founded in 1982, The Sterling Group is a private equity and private credit investment firm that targets investments in basic manufacturing, distribution, and industrial services companies. Typical enterprise values of these companies at initial formation range from $100 million to $1 billion. Sterling has sponsored the buyout of 80 platform companies and numerous add-on acquisitions for a total transaction value of over $28 billion. Sterling currently has approximately $9 billion of assets under management. For further information, please visit www.sterling-group.com.

Past performance is no guarantee of future results and all investments are subject to loss. Forward-looking statements reflect current intentions only and are subject to change without notice. No assurance can be given that the objectives or results described herein will be achieved.

SOURCE United Window & Door Mfg. Inc.

Backing from semiconductor and manufacturing leaders will scale Flexcompute’s research toward AI that understands the laws of physics, not just patterns in data

BOSTON, Oct. 12, 2026 — Flexcompute, the physics company, today announced strategic investment from Samsung Ventures and Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc., among other investors. The funding will accelerate Flexcompute’s work on the Physics World Model: AI that predicts how any design will behave in the real world by learning the laws of physics themselves, from a chip package warping under heat to a spacecraft reentering the atmosphere. Details of the investment were not disclosed.

Today’s AI learns from the past: text, images, simulation results. Flexcompute takes a different approach. Its team of more than 70 PhDs has built CFD, electromagnetic, structural and thermal solvers from the ground up on GPUs. Through Tokenized Physics, Flexcompute builds both neural networks and first-principles physics directly into the Physics World Model, so every prediction obeys the same conservation laws as the physical world and stays accurate on designs, even ones the model has never seen.

“AI is changing how products are designed, but those products still have to obey the laws of physics,” said the representative of Samsung Ventures. “Flexcompute is building AI that understands those laws, not just the data. We believe the Physics World Model will shape how the next generation of hardware is developed.”

The approach is already solving problems that traditional simulation cannot reach. For a full advanced semiconductor package, with more than 800,000 solder joints, an ASIC, and 32 optical engines, Flexcompute solved a 5-billion degree-of-freedom (DOF) warpage model within 2% of commercial finite-element results in minutes.

“Every industry is racing to put AI to work on real engineering problems, and the limit is how quickly each one can be validated against the laws of physics,” said Yu Cao, Chief AI Officer of Applied Materials. “Flexcompute has built something unique: simulation fast enough to keep pace with AI and rigorous enough for production decisions. In advanced manufacturing, that means more of the design cycle happens digitally, saving time and cost.”

Customers access the Physics World Model today through Physics Twins: models of their own products that engineers and AI agents can question, test and optimize before anything is built. Engineers set the objective and approve the result, agents run the iterations, and physics governs what works.

“Language models learned the world from text. Hardware is governed by laws, not text, and no amount of data substitutes for them,” said Vera Yang, Co-Founder and President of Flexcompute. “We are building the verification layer between bits and atoms: a Physics World Model any engineer or AI agent can ask whether a design will work, before it is built. Samsung and Applied see what we see: the next leap in AI comes from understanding the physical world.”

Flexcompute will use the investment to grow its research team, scale GPU compute, and extend the Physics World Model across fluids, electromagnetics, structures, heat, and multiphysics couplings.

About Flexcompute
Flexcompute is a frontier AI lab building a Physics World Model that bridges data-driven AI and the laws of physics. Founded by researchers from Stanford and MIT, its team of more than 70 PhDs develops GPU-native solvers for fluid dynamics, electromagnetics, structures, and heat. Through Tokenized Physics, Flexcompute builds both neural networks and first-principles physics directly into its Physics World Model. This creates a verification layer that grounds AI predictions in trusted physics and helps engineers and AI agents evaluate how designs will perform before they are built. Engineering teams at more than 250 companies across aerospace, automotive, semiconductors, photonics, and advanced manufacturing use Flexcompute to evaluate, explore, and optimize designs, allowing them to innovate with confidence. Learn more at flexcompute.com.

About Samsung Ventures
Samsung Ventures is the corporate venture capital arm of Samsung, investing globally in early and growth-stage technology companies across semiconductors, AI, and advanced manufacturing.

About Applied Ventures
Applied Ventures LLC is the venture capital arm of Applied Materials, Inc., the global leader in materials engineering solutions for the semiconductor industry. Applied Ventures invests in companies developing technologies that advance semiconductor and display manufacturing.

Media Contact
Silvie Casanova
Flexcompute
[email protected]

SOURCE FlexCompute Inc.