Monday, January 11, 2021

Echo Health Ventures Introduces New Innovation Alliance Bringing Together Three National Health Care Leaders to Collectively Invest in Transforming Health Care


The Alliance will seek to invest in health care technology, health care services and digital health companies that are bringing innovative solutions and new capabilities to market and will invest across these companies' development stages.  The Alliance continues and builds upon Echo's strategic investing model, which efficiently connects market-driven innovations with the scale of innovative health care enterprises like Cambia, Mosaic and USAble. Echo provides not only capital but also valuable health care market insights, sector expertise and active engagement with each portfolio company to grow and scale their business.


Since its founding in 2016, Echo's experienced team of nationally recognized health care investment and industry professionals has worked in partnership with its parent companies (Cambia and Mosaic) to deliver strong financial returns and a track record of success including:


  • A deep portfolio of 20+ innovative portfolio companies;

  • Multiple IPOs and considerable financial value created across its portfolio; and,

  • More than 30 collaborations between its more than 20 portfolio companies and Echo's parent companies to drive health care transformation.

USAble Corporation serves its parent company, Arkansas Blue Cross and Blue Shield, by identifying and investing in strategic capabilities and products designed to serve the needs of the businesses and individuals served by Arkansas Blue Cross.  USAble Corporation has a long history of making investments into building partnerships to supply ancillary insurance products to groups, serve the provider community via electronic data interchange and clearing house activities, and serve self-funded employers by creating curated network options through enhanced data analytics.

"At a time like this, when the need for innovation in health care is so urgent, we are excited to launch the Echo Innovation Alliance, a new model of highly strategic venture investment, in collaboration with such respected, progressive health care leaders," said Echo Health Ventures Chief Executive Officer Rob Coppedge. "The Echo Innovation Alliance further validates Echo's unique model and will accelerate our work with leading entrepreneurs and management teams to scale their innovations nationally."

"As a health solutions company, we are excited to support those we serve, improving their health and well-being as well as their health care experience," said Curtis Barnett, president and CEO of Arkansas Blue Cross and Blue Shield and a member of the USAble Corporation Board of Directors. "Every day, we are committed to finding ways to solve for the challenges that our members and health care system faces. By joining the Echo Innovation Alliance, we will have access to deep health care industry knowledge and funding, which allows us to have greater speed to bring critical innovations to market for the benefit of members, providers and communities."

"This is an exciting time for our collaboration with Echo Health Ventures, which is demonstrating innovation in action," said Jared Short, Cambia CEO and Echo board member. "As one of Echo's parents, we are committed to work with this new Alliance and its portfolio to bring these innovative solutions to market faster to serve people, their families, communities and providers."

"The Echo Innovation Alliance strengthens Echo's mission to improve the health and well-being of our communities," said Tunde Sotunde, Echo board member and president and CEO of Blue Cross and Blue Shield of North Carolina. "Through the strategic investments the Alliance enables, we will find even more opportunities to drive innovation in health care for the benefit of patients, providers and payers."

About Echo Health Ventures and the Echo Innovation Alliance
Echo Health Ventures drives health care transformation through hands-on, purpose-driven strategic venture capital and growth equity investing. The Echo Innovation Alliance is a strategic investment collaboration between Echo Health Ventures and USAble Corporation. For more information, please visit www.echohealthventures.com.

SOURCE Echo Health Ventures

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https://www.echohealthventures.com


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Z3Partners announced First Close of Tech & Digital Fund

MUMBAI, India, Jan. 11, 2021 /PRNewswire/ -- Z3Partners Tech Fund (www.Z3Partners.com) announces its First Close of US$ 14 million and its investments in Cyfirma (www.cyfirma.com), a leading Cyber Threat Intelligence Software Start-up and DealShare (www.dealshare.in), a leading Social Commerce-led online grocery start-up. [1],[2]


The opportunity in Tech and Digital is taking leadership in India with significant smartphone (600 million), internet (700 million) and eCommerce (US$ 150 billion in the next 5 years) adoption to greater government support and venture capital (US$ 10 billion) and public equity market interest (current US$ 70 billion growing by another US$ 50 billion in 24 months). Tech and Digital Entrepreneurs and Investors will see huge upside over the next 25 years.


Z3Partners is Founded by Gautam Patel, the Co-Founder of Zodius Technology Fund and Zodius Technology Opportunities Fund (investee Companies include BigBasket, Pepperfry, OfBusiness, MedGenome, etc.). He has been investing in Tech and Digital Start-ups for 20 years with a unique approach as an investor-operator in building strong relationships with high quality entrepreneurs who are building market leading tech and digital businesses. Z3Partners co-founding team consists of Anand Batra, ex leadership at Pepperfry, Yusuf Allana, ex Finance Director at Colgate Palmolive, and Avinash Kapur, ex Deloitte.


Z3Partners is a US$ 100 million target Tech and Digital Fund that will invest in early-growth start-ups in Fintech, eCommerce, B2B Commerce, Software/SaaS, Data Analytics, Agritech, etc. The team comprises of 70 years of combined investment and leadership operating experience and been instrumental in helping entrepreneurs build large, profitable and sustainable businesses. They are known to back early trends and discover teams and businesses that represent quality-at-scale and good governance, resulting in rewarding investors with consistent and noteworthy investment returns. 


Z3Partners leads with an investment thesis approach with deep knowledge and understanding of their investment sectors; with this they get access to the best entrepreneurs and companies that partner with them because of their operating and domain experience and reputation of trust (#founderstrust)

Contact us


Gautam Patel
Managing Partner
[email protected]


Anand Batra
Executive Director
[email protected]


Telephone: +9122-6280-8865
Website: www.z3partners.com
Tweet: @z3partners
LinkedIn: https://www.linkedin.com/company/z3partners-tech-fund


SOURCE Z3Partners



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http://www.Z3Partners.com


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Thrasio Tops $1 Billion in Total Capital Raised, Secures $500 million in Fresh Capital

BOSTON and NEW YORK, Jan. 11, 2021 /PRNewswire/ -- Digital global consumer goods company Thrasio today announced its latest financing, a $500 million senior debt facility, bringing the total amount of capital raised by the industry leader to over $1 billion. The financing provided a fitting capstone to 2020, a year in which Thrasio exceeded $500 million in sales, generated over $100 million in profit, and delivered a Thrasio product to nearly one out of every ten American households.


Thrasio acquires successful Amazon third party businesses and direct-to-consumer (DTC) ecommerce brands and seamlessly integrates them into its digital consumer goods platform, which manages nearly 14,000 products. Leveraging this platform, Thrasio has grown acquired businesses rapidly, achieving a 156% annualized growth rate of EBITDA while propelling high quality (but lesser known) products ahead of legacy products with familiar brand names. With the new capital, Thrasio will broaden the scope of its investments and acquire larger companies.


Co-founder and co-CEO Carlos Cashman says it is the right time to double-down. "We have perfected both our M&A and operations models--now it's about driving leverage from our proven flywheel and continuing to build complementary capabilities. This investment also enables us to acquire much larger ecommerce companies - up to $200 million in revenue - adding another dimension to our capabilities. The funds will also accelerate our (already rapidly scaling) DTC and product launch businesses."


"This is Thrasio's sixth successful raise in the last 14 months, a pace which reflects the accelerating growth of our opportunity set," adds co-founder and co-CEO Josh Silberstein. "In the past two years, Thrasio has grown faster than any company in history - but, this is really just the beginning of our story. The success we've had to date is gratifying, but Thrasio's real legacy will come from reinventing the very idea of what an omnichannel retailer is - and, in the process, redefining the $13.7 trillion market for consumer products."


JPMorgan Chase Bank, N.A., The Private Credit Group of Goldman Sachs Asset Management, L.P. and RBC Capital Markets are joined in the deal by the Strategic Credit Group within Oaktree Capital Management, L.P., Bain Capital Credit, Barclays, BlackRock, BofA Securities, Inc., Credit Suisse Loan Funding LLC, Monroe Capital LLC, Morgan Stanley Private Credit, and UBS Securities LLC.


About Thrasio


As the largest acquirer of Amazon FBA brands globally, Thrasio boasts a massive innovation and experimentation platform that brings high-quality products to market across digital marketplaces and retailers globally. With the experience of evaluating more than 5,000 Amazon companies, acquiring nearly 100 top-rated brands, and managing the scale of nearly 14,000 category-leading products, Thrasio's brands are more profitable, grow faster, and outperform almost every other seller on Amazon. Under Thrasio's management, Amazon native brands compete with top household name labels, quickly becoming the trusted items that consumers turn to for their everyday needs, including the URBNfit Exercise Ball, the leading Anti-Fatigue Floor Mats by Sky MatsArt Supplies from Crafts 4 All, and the fastest growing Odor Eliminator & Pet Deodorizer on Amazon by Angry Orange. For more information, visit https://thras.io.


SOURCE Thrasio



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NuProbe Closes $42M Fundraising

HOUSTON and SHANGHAI, Jan. 11, 2021 /PRNewswire/ -- NuProbe, a genomics and molecular diagnostics company specialized in ultrasensitive sequencing panels, announces the closing of its oversubscribed $42M fundraising. The lead investors for this financing round are BioTrack Capital and Yonghua Capital. The proceeds will be used to expand the commercial team in both the US and China, develop new NGS products, and file for regulatory approval in China for NuProbe's clinical products. 


"NuProbe has made great strides in 2020 in R&D, manufacturing, and commercialization.  Furthermore, we have established a fast and efficient management workflow for the 100+ members of our team," said Yingshuang Chai, co-founder and CEO of NuProbe.  "We are very grateful for all of our investors' support, and look forward to using this capital to accelerate our new product launch and market penetration."


"NuProbe's unique NGS technologies and its management's proven commercial execution position NuProbe to be a leader in precision oncology and reproductive health in the coming years," says Kevin Chen, founding partner of Biotrack Capital.  "My fund and I are very excited to be part of the journey with NuProbe."


"There is exponentially increasing awareness and demand for non-invasive liquid biopsies," says Wen Chen, partner of healthcare investment at Yonghua Capital.  "NuProbe's differentiated technology platform allows liquid biopsy to be broadly offered to people of all walks of life, in China, in the US, and across the world."


In addition to BioTrack Capital and Yonghua Capital who co-led the financing, Taifu Capital, Panlin Capital, Juming Capital, and Tuobang Capital also participated in the investment.  BMD China served as financial advisors for this financing round.  Additionally, NuProbe's previous investors Sequoia Capital China, Ruomu Capital, and Serica Partners also co-invested in the deal.


"Sequencing blood plasma samples locally at the hospital is critical to rapid turnaround, in order to inform timely therapeutic decisions for cancer," said David Walt, a member of NuProbe's scientific advisory board (SAB) and the scientific co-founder of Illumina.  "NuProbe's allele enrichment technologies enable lower-throughput NGS instruments found in hospital labs to perform such liquid biopsies."


George Church, another member of NuProbe's SAB, adds, "Despite the consistently decreasing sequencing costs, many clinical and research sequencing applications such as those involving minimum residual disease (MRD) with tumor fraction of less than 1 part in ten thousand are not currently affordable.  NuProbe provides a pathway to ultrasensitive MRD detection by sequencing."


In the past 12 months, NuProbe has signed a number of partnership and licensing deals with internationally renowned companies in molecular diagnostics and life sciences, including Illumina, Qiagen, Oxford Nanopore, and the Wego Group.  NuProbe has begun to partner with pharma companies for clinical research through its Augury custom NGS panels.  In the reproductive health field in China, NuProbe has built collaborations with most of the top hospitals and is the leader in infertility testing. 


"We are very encouraged to see that NuProbe's products and services are gaining adoption in the United States, in China, and across the world" said David Zhang, co-founder and Head of Innovation of NuProbe.  "We look forward to further serving the needs of our clinical and research customers in 2021, and anticipate the release of several new NuProbe products through the year."


About NuProbe Global
NuProbe is a cutting-edge genomics and molecular diagnostics company with revolutionary molecular diagnostic technologies to improve the sensitivity of sequencing mutations and copy number variations by over 10-fold. NuProbe has sites in Houston, USA, Shanghai, China and Suzhou, China. NuProbe's vision is to offer affordable, timely, and accurate disease state information to enable precision medicine and improve patient outcomes.


About BioTrack Capital
Founded in 2017, BioTrack Capital is a dedicated healthcare venture capital firm focused on investing and incubating innovative life science companies in China. We are more than just capital providers. We invest in long-term partnerships with China's leading healthcare entrepreneurs to build the next generation of world class companies


About Yonghua Capital
Yonghua Capital is one of China's most competitive private equity investors. As the primary investment vehicle of Yongjin Group, Yonghua Capital has rich experience in private equity investment and commits to become the most trustworthy financial service provider in the China capital market. So far Yonghua Capital has invested in over 100 outstanding companies, among which nearly 60 have been listed with stock exchanges. A seasoned team of professionals in industry research, finance, law and related regulatory policies, as well as the long-term cooperation with China's well-known underwriters, law firms, accounting firms and other intermediaries, Yonghua Capital has succeeded in finding the undervalued companies and obtaining returns from the capital market.


About Sequoia China
The Sequoia Capital team helps daring founders build legendary companies. In partnering with Sequoia Capital, companies benefit from our unmatched community and the lessons we've learned over 49 years. As "The Entrepreneurs Behind The Entrepreneurs", Sequoia Capital China focuses on three sectors: TMT, healthcare and consumer/service. Over the past 16 years we've had the privilege of working with approximately 600 companies in China.


Media Contact:
Jane Nie
NuProbe USA
[email protected]


SOURCE NuProbe



Related Links


https://www.nuprobe.com/


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Medical Guardian Receives Growth Investment from Water Street Healthcare Partners



With the number of Americans aged 65 years and older increasing along with seniors' desire to live in their own homes as they age, demand for Medical Guardian's medical alert services continues to rise.  The company is one of the nation's leading PERS providers with more than 160,000 active subscribers across the country. Medical Guardian offers a suite of connected care solutions that enable seniors to live their day-to-day lives safely and independently.  Its products are fully integrated with customer support services, providing seniors with 24/7 protection and deploying emergency personnel if an alert is received. 



"Medical Guardian has developed our products and services to meet the needs of a growing senior population that is focused, now more than ever, on aging in place," said Geoff Gross, founder and CEO, Medical Guardian. "Water Street's investment strongly positions Medical Guardian to strategically expand our health care partnerships and services, and advance our mission of empowering our customers to live their lives without limits."


He added, "Water Street has an impressive track record of investing in successful health care services companies and building them into market leaders. I recognized right away the caliber of their team and their depth of knowledge in health care."

Medical Guardian has grown rapidly since its founding in 2005.  Named to Inc. Magazine's Fastest Growing Private Companies list for the past eight years, the company is a recognized leader in direct-to-consumer PERS strategies.  Working with Water Street, Medical Guardian will invest in acquisitions and organic initiatives to expand its health care partnerships and channels, and extend its offering into complementary services.

"Medical Guardian has demonstrated that its senior health solutions are a leading choice for consumers directly selecting their PERS provider," said Max Mishkin, partner, Water Street.  "Working with Geoff and his team, we will collaborate with organizations across the health care industry to aggressively expand the company's presence, and we will pursue strategic acquisitions and additional growth initiatives to further enhance the company's suite of offerings."

Financial terms of Water Street's investment in Medical Guardian are not being disclosed. Imperial Capital served as the exclusive financial advisor to Medical Guardian.

About Water Street
Water Street is a strategic investor focused exclusively on health care. The firm has a strong record of building market-leading companies across key growth sectors in health care. It has worked with some of the world's leading companies on its investments including Humana, Johnson & Johnson, Medtronic and Walgreen Co. Water Street's team is comprised of industry executives and investment professionals with decades of experience investing in and operating global health care businesses. The firm is headquartered in Chicago. For more information about Water Street, visit waterstreet.com.

About Medical Guardian 
Founded in 2005, Medical Guardian is a leading provider of innovative senior health solutions.  The company offers a full suite of connected care medical alert systems that empower older adults to live a life without limits. A member of the National Aging in Place Council, Medical Guardian is headquartered in Philadelphia and provides nationwide support to more than 160,000 aging Americans who are ready to take on the next chapter of life while remaining safe in their own home. Whether it's an in-home system, mobile device with GPS/Wi-Fi capabilities, or an all-in-one wearable medical alert smartwatch, Medical Guardian has the personal medical alert device to meet an array of needs and lifestyles. For more information about Medical Guardian, visit medicalguardian.com.

SOURCE Medical Guardian


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Brandzooka Appoints Mark IV Capital's Michael Beaudoin To Board Of Directors


Beaudoin and his colleagues recognized that Brandzooka's model of giving small and midsize agencies and in-house marketing teams access to powerful digital advertising technology was a huge opportunity. Brandzooka makes it possible for companies of any size to place targeted ads on primetime TV and premium digital properties worldwide for as little as $5.



Mark IV was also struck by Brandzooka's explosive growth in 2020. The company's monthly recurring revenue has increased five-fold since the beginning of the year.


Beaudoin directs and manages Mark IV Capital's investments in private equities, including venture capital rounds, and is focused on Series A and Series B.  Specifically, he's been focused on technology companies that measurably improve productivity for business and government customers. Prior to joining Mark IV, Beaudoin participated in AT&T's Leadership Development Program, where he rotated through various management positions across the company and started the AT&T Aspire Accelerator.

"Our team is looking to invest in platforms that empower a new generation of companies, and we found Brandzooka's story to be compelling right away. Led by CEO Kelly Dotseth, the team is fantastic, and we're confident that they'll continue to execute at the highest level," Beaudoin said. "It's also clear that the pandemic has accelerated the shift to consumption of OTT media, making it essential for small and midsize agencies and brands of any size to leverage video-advertising technology in order to reach their customers in a cost-effective manner. Brandzooka is well-positioned to reach a broad range of targeted customers and help brands and/or agencies improve the ROI of digital campaigns by providing easy-to-use tools."

"We started the company to empower people and teams who haven't historically had access to the digital media table," said Alex Bogusky, an investor in and cofounder of Brandzooka. "At a time of economic upheaval, Brandzooka's growth is accelerating, fueled in no small part by people who've decided to dust off their marketing degrees and start an ad agency instead of driving an Uber."

Beaudoin joins Dotseth, Bogusky and Adam Edelman (who contributed to the Series A through his fund, Boulder Heavy Industries) to round out Brandzooka's Board of Directors. The $5.6 million Series A round led by Mark IV Capital brought the company's total funding to $10.1 million since it was founded in 2015.

About Brandzooka
Brandzooka believes in a world where the size of your idea matters more than the size of your budget. We place the power of digital advertising into the hands of any company or agency with any size marketing budget. Our advertising platform makes it easy and cost-effective for anyone to execute highly targeted video and digital advertising campaigns across the biggest sites online and on TV. We democratize online and connected digital advertising by giving users large and small the same access and reach formerly available only to giant advertisers—reaching every channel and every network. Visit www.brandzooka.com for more.

About Mark IV Capital
Mark IV Capital, Inc. is a privately held boutique investment firm founded in 1974. The company develops or acquires commercial real estate and private equity assets utilizing a disciplined long-term approach to deploy capital in markets where existing drivers will deliver enhanced alpha returns. Headquartered in Newport Beach, California, with offices in Arizona, Colorado, Nevada, Texas, and Northern California, as well, Mark IV Capital's vision is to be a world-class developer and provider of working environments for businesses. For additional information, please visit www.MarkIV.com.

Contact: Steve Sapka, (305) 479-5208, [email protected]

SOURCE Brandzooka

Related Links

https://www.brandzooka.com


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Leading Autonomous Mobile Robot Company Quicktron Completes C+ Funding Led by KION Group and Prosperity7 Ventures for Technology to Free Human Beings from Manual Handling


Underpinning the successful financing is impressive growth numbers from Quicktron in recent years. Operating income from 2017 to 2019 increased nearly tenfold and the total volume of orders in 2020 is expected to be more than 300 percent that of 2019. Reports have also been made public that Quicktron will be launching a sci-tech innovation board listing plan next year, gearing the company up to be the first listed  AMR stock.



As a pioneer in the AMR industry, Wei Yang and Quicktron have witnessed the development process of the whole space from the outset. Given that the global penetration rate of AMR is as low as one percent, Wei Yang believes there is still an untapped industry worth 500 billion CNY. Growth in this sector has also accelerated as the COVID-19 pandemic has fueled the need to reduce reliance on manual labor in logistics. This has been particularly prominent in Europe where e-commerce has been growing rapidly as consumers develop a habit for online shopping, forcing more and more retailers to make the switch to online.


Technical development in the space is supported by sophisticated technologies such as 5G and autonomous driving becoming increasingly commonplace. These tools allow for high performance, low cost, and rapid iteration, making R&D an absolute priority for companies looking to stay ahead of the competition. For Quicktron, six years of practical experience working with clients and resources have allowed them to stay at the forefront of technical innovation. Current industry offerings either work very well in self-operated warehouses or are good at system integrations; As a leading manufacturer and solutions provider of intralogistics AI-powered robots, Quicktron offers industry-standard products across end-to-end services, with solutions aimed at solving specific pain points whilst being widely applicable.

In 2020, Quicktron launched its product-level intelligent robotic solution, Quick Pick, which is currently being used in e-commerce, retail, footwear, manufacturing, and other industries. The solution is equipped with highly efficient and stable robots that bear a high storage capacity. It also features small, lightweight, efficient, flexible, and cost-effective intelligent mobile handling robots that work well in intensive storage environments where it can carry and transfer items for on-site operators. This combination effectively reduces the need for manual operation to achieve high efficiency and versatility, easing the labor intensity and boosting overall efficiency during the traffic surge in storage handling, order picking and item return requests.

About Quicktron

Quicktron Intelligent Technology Co., Ltd was founded in Shanghai, China in 2014. By providing various types of AMRs and backstage operating systems for multiple models, devices and scenes, Quicktron enables enterprise customers to achieve intelligentization, automation and digitization for their internal logistics, helping them to reduce costs, increase efficiency and broaden capability boundaries. The company's vision is use indoor intelligent driving solutions to free human beings from manual handling.

www.flashhold.com

About KION Group

The KION Group is one of the world's leading providers for industrial trucks and  supply chain solutions. Its portfolio encompasses industrial trucks, such as forklift trucks and warehouse equipment, as well as integrated automation technology and software solutions for the optimization of supply chains, including all related services. Across more than 100 countries worldwide, the KION Group's solutions improve the flow of material and information within factories, warehouses, and distribution centers. The Group, which is included in the MDAX, is the largest manufacturer of industrial trucks in Europe and the second largest worldwide in terms of units sold in 2019. It is also a leading provider of automation technology based on revenue in 2019.

www.kiongroup.com/de/

About Prosperity7 Ventures

Prosperity7 Ventures is the diversified growth fund of Aramco Ventures, a subsidiary of Aramco, the world's leading integrated energy and chemicals company. The fund's name derives from 'Prosperity Well', the 7th oil well drilled in Saudi Arabia and the first to strike oil. Taking forward this pioneering history, we invest globally, with a long term-view, in breakthrough technologies and transformational business models that will bring prosperity and positive impact on a vast scale. 

www.P7VC.com

SOURCE Quicktron


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Sunday, January 10, 2021

Appian raises $775m reaching hard cap for second mining fund

LONDON, Jan. 11, 2021 /PRNewswire/ --


Highlights



  • Fund II oversubscribed reaching $775m hard cap bringing total under management to over $1.2 billion

  • Strong investor interest reflects demand for hard assets and green commodities exposure

  • Provides exposure to copper, nickel and other base and industrial metals with a precious metals hedge

  • 40% already deployed using Appian's world class global sourcing and execution capabilities

  • Builds on Appian's record of generating strong risk adjusted returns by identifying, acquiring and developing undervalued metals and mining assets

  • Majority of fundraising completed remotely through COVID-19 pandemic

  • Team expanded to 37 investment professionals across locations in London, Toronto, Lima, Belo Horizonte and Sydney, overseeing nearly 5,000 employees across the portfolio


Appian Capital Advisory LLP ("Appian" or the "Company"), the investment advisor to long-term value focused private equity funds that invest solely in mining and mining related companies, today announces the final close of its second fund ("Fund II"). Fund II was oversubscribed and reached its hard cap of $775m following strong support from both new and existing Tier 1 investors globally.


Focus on core growth commodities


Fund II will pursue the same proven strategy as Appian's first fund ("Fund I"), focusing on investments in metals and mining assets. Appian targets medium-sized assets, prioritising profitability over scale to generate maximum returns, with Fund II well positioned to benefit from demographic trends, economic growth and action against climate change.


These include the commodities used in batteries, electric vehicles and renewable power systems including copper and nickel. The Company will also employ investments in precious metals as a potential portfolio hedge.


Fund II will invest on a global basis, targeting assets in jurisdictions with proven geology, supportive governments and a robust legal framework including Brazil, Australia, Mexico, Peru, Chile and Canada, where Appian has existing operations.


Fund II is already 40% deployed or reserved in five investments, demonstrating Appian's strong global sourcing and execution capabilities. These include equity investments in Mineração Vale Verde's copper-gold development asset in Brazil and Kalbar Operations' Fingerboards mineral sands project in Australia (which is currently at the development stage); a royalty investment in Atlantic Nickel's operating Santa Rita nickel-copper-cobalt asset in Brazil; and both royalty and credit investments in Harte Gold's producing Sugar Zone mine in Ontario, Canada.


Additionally, Fund II has significant capital available to pursue larger co-investment opportunities.


The financial and operational expertise to deliver returns


Appian has a unique strategy that delivers outsized returns in the mining sector and limits downside risk. As a specialist private capital provider, it applies long-term value investing principles to a cyclical industry and remains highly disciplined, focusing on high margin, low cost assets with a high-quality resource base where there is the potential to add value.


The Company's unique in-house technical and investment expertise allow it to identify undervalued opportunities in the sector. The financial team has experience from leading investment banks and private equity firms, having completed over $200 billion of mining transactions, while the technical team is comprised of industry professionals from major mining companies who have brought over 60+ mines into production. This allows us to apply the technical sophistication of a major mining house to smaller operations, reducing development and operating costs and bringing forward production to boost returns.


Appian's strong culture of accountability allows it to maintain the highest environmental, social and governance standards across all operations and investments, and the Company has established a Charitable Foundation to support the regions in which its operations are based. Appian has a strong Advisory Board comprised of leading individuals from the mining, financial and commercial sectors.


Strong track record


Following the success of Fund I and the investments already made from Fund II, Appian's portfolio is well diversified. It invests in equity, credit and royalties across the capital structure, and importantly where its industry leading technical and financial teams are able to assist the underlying management teams to create value.


Appian has an excellent track record with very strong risk-adjusted returns delivered to date. It has made nine investments, with six mines in production and a further two expected to be producing within 24 months. The Company has also completed or announced four successful exits, including Avanco Resources which owns one of the highest grade open-pit copper mines and was sold to Oz Minerals.


Michael W. Scherb, Founder and CEO of Appian, commented:


"We are incredibly pleased to have closed Fund II, reaching our hard cap with the fund oversubscribed, and appreciate the support for our unique operating model and investment approach. Our Tier 1 investors value our combination of technical and financial expertise that allows us to identify, acquire and develop undervalued assets. Meanwhile, our management teams benefit from our long-term capital and support in enhancing their development plans to boost returns. Fund II is well positioned to benefit from its exposure to high growth segments of the global economy, through commodities that will enable the transition to a low carbon economy and infrastructure development to generate strong, risk-adjusted returns."


About Appian Capital Advisory LLP


Appian Capital Advisory LLP is the investment advisor to long-term value focused private equity funds that invest solely in mining and mining related companies.


Appian is a leading investment advisor in the metals and mining industry, with global experience across South America, North America, Australia and Africa and a successful track record of supporting companies to achieve their development targets, with a global operating portfolio overseeing nearly 5,000 employees.


Appian has a global team of 37 investment professionals with offices in London, Toronto, Lima, Belo Horizonte and Sydney.


For more information please visit www.appiancapitaladvisory.com, or find us on LinkedIn or Instagram.


For further information:


Finsbury: +44 (0)20 7251 3801, [email protected]
Charles O'Brien, Ruban Yogarajah, Richard Crowley


Appian Capital Advisory: +44 (0)20 7004 0951, [email protected] 
Michael W. Scherb


SOURCE Appian Capital Advisory LLP


Related Links

https://appiancapitaladvisory.com


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HSBC Joins MioTech's Series B Financing Round

HONG KONG and SHANGHAI, Jan. 10, 2021 /PRNewswire/ -- MioTech, the AI-based sustainability data and technology provider, announced today that HSBC has invested in the company in an additional financing round to its Series B, further expanding the company's stellar investor base which already includes ZhenFund, Horizons Ventures, Moody's and TOM Group.


In 2020, MioTech successfully expanded its environmental, social and governance (ESG) data coverage to more than a million public and private companies in the Greater China region. It has implemented supply chain, portfolio, and energy monitoring systems across many different sectors. MioTech plans to launch more datasets covering Asian and European markets. It will also develop more software to address the climate and sustainability challenges faced by financial institutions, corporations and governments.


"HSBC brings us a wealth of knowledge on ESG and green finance," said Jason Tu, Co-founder and CEO of MioTech. "With the new round of financing, MioTech looks to invest more into developing sustainability data and technology, and will further expand its product offerings and geographic coverage."


The investment was made by HSBC's Strategic Innovation Investments team, a corporate venture capital unit which takes minority holdings in early stage technology companies, following MioTech's work with HSBC Global Asset Management.


Catherine Zhou, Global Head of Venture, Digital Innovation and Partnerships at HSBC, commented "We are excited to have made an investment in MioTech, and look forward to building on our relationship with the company as they continue to scale. MioTech have already established impressive ESG capabilities across Greater China with the ability to expand into further geographies in the future and capitalise on the wealth of opportunities within this growing market."


Xavier Desmadryl, Global Head of ESG Research at HSBC Global Asset Management, said "This investment underlines our commitment to ESG and Asia and we look forward to working alongside MioTech to build on our capabilities in this space and extend these offerings to our client base".


ABOUT MIOTECH
MioTech uses artificial intelligence to solve the sustainability, climate change, and social responsibility challenges faced by financial institutions, corporations and governments. Its datasets cover massive amounts of alternative sources to capture ESG performances in real time. Its software helps monitor, manage, and analyze sustainability data across different sectors and geographies.


MioTech has offices in Hong Kong, Shanghai, Beijing, and Singapore. It is invested by world-renowned investors such as ZhenFund, Horizons Ventures, Moody's, TOM Group, and HSBC.


Press Inquiries: Maya Li, [email protected]


SOURCE MioTech



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Friday, January 8, 2021

VISEN Pharmaceuticals Closes $150 Million Series B Financing to Accelerate the Development and Commercialization of its Innovative Endocrinology Therapies in Greater China

SHANGHAI, Jan. 9, 2021 /PRNewswire/ -- VISEN Pharmaceuticals, a biotech company focused on developing and commercializing innovative endocrine drugs that address significant unmet needs for patients in Greater China, announced today the closing of a $150 million Series B financing.


The round was led by Sequoia China with participation from OrbiMed, Sherpa Healthcare Partners, Cormorant, HBM Healthcare Investments, Pivotal bioVenture Partners China, Logos Capital, and CDG Capital, as well as all of the existing investors, including Ascendis Pharma A/S, Vivo Capital and Sofinnova Investments. Proceeds of the Series B financing will be used to accelerate the clinical development of the potential best-in-class portfolio drug candidates and to build a strong foundation for commercialization.


"We appreciate the confidence from our existing shareholders as well as our new investors in our innovative endocrine portfolio, and our team, who have strong medical expertise in endocrinology. Endocrinology is a large therapeutic area with significant unaddressed medical needs in Greater China, and there is a gap of treatment standard in comparison with US and EU," said Pony Lu, CEO and board member of VISEN Pharmaceuticals. "We will unceasingly be dedicated to bringing in innovative and potential best-in-class or first-in-class therapies to address the unmet needs of patients in Greater China. The VISEN team has achieved multiple milestones for our three endocrinology drug candidates: TransCon hGH (lonapegsomatropin), TransCon PTH and TransCon CNP since its formation in late 2018. Series B funding will help to accelerate our clinical development, manufacturing, and commercialization of our three leading products, and establish a strong foundation on which we will enrich our pipeline from diversified international partnerships."


"Our relationship with VISEN is a key element of our Vision 3x3 strategy to extend the global reach of our TransCon endocrinology rare disease product candidates and improve patients' lives around the world." said Jan Mikkelsen, President and CEO of Ascendis Pharma and board member of VISEN Pharmaceuticals. "Since VISEN's inception in 2018, the company has made significant progress on its clinical activities in Greater China, which we believe will enable us to get our products to patients worldwide as soon as possible."


Mr. Shan Fu, Managing Partner at Vivo Capital and board member of VISEN Pharmaceuticals, commented: "There is tremendous opportunity and commercial potential for VISEN Pharmaceuticals. We believe that in this dynamic market, VISEN's leadership team will continuously create value for shareholders by bringing breakthrough therapeutics to the Greater China market. Vivo Capital is excited to continuously support VISEN Pharmaceuticals in its mission and development". Dr. Dandan Dong, Managing Director of Vivo Capital and board member of VISEN Pharmaceuticals, said: "VISEN Pharmaceuticals has made remarkable achievements over the past two years as the leading endocrinology expert in China, and has built an innovative drug pipeline to address huge unmet medical needs. The participation of new investors in the Series B financing is an important milestone underscoring the strong confidence of investors in the growth of the company as a leading pharmaceutical company focusing on endocrinology products in Greater China."


"VISEN Pharmaceuticals has introduced an impressive and highly differentiated endocrinology-focused drug pipeline to patients in Greater China, and we are very delighted to support the clinical development of the drug candidates. With advanced platform technology from Ascendis Pharma and win-win collaboration between strategic investors and the Company, we believe that the Company will accelerate the process of bringing in the world's leading therapeutics to Chinese patients and promote the rapid and healthy growth of the industry." commented by Cyber Cao, Managing Director at Sequoia China.


With its "Patient First" approach, VISEN Pharmaceuticals is developing its leading clinical assets: TransCon hGH (lonapegsomatropin), TransCon PTH, and TransCon CNP, in the Greater China market. Currently, the Phase 3 study of TransCon hGH (lonapegsomatropin) in China is ongoing. The ACcomplisH China Phase 2 study of TransCon CNP just received IND approval from the National Medical Product Administration on 7th January 2021 and will soon be initiated in coordination with the ACcomplisH trial, which is the Phase 2 global clinical trial of TransCon CNP being conducted by Ascendis Pharma.


About VISEN Pharmaceuticals


VISEN Pharmaceuticals is committed to the treatment of endocrine-related diseases, introducing the world's leading treatment methods and drugs into the China market, and hoping to provide more Chinese patients quick access to the world's most advanced and reliable treatment solutions.


In 2018, VISEN Pharmaceuticals was formed by Ascendis Pharma A/S (Nasdaq: ASND) and an investor syndicate led by Vivo Capital (along with participation by Sofinnova Investments), to develop and commercialize endocrinology therapies in Greater China, which includes mainland China, Hong Kong, Macau, and Taiwan.


About Ascendis Pharma A/S 


Ascendis Pharma is applying its innovative TransCon technologies to build a leading, fully integrated biopharmaceutical company focused on making a meaningful difference in patients' lives. Guided by its core values of patients, science and passion, the company utilizes its TransCon technologies to create new and potentially best-in-class therapies.


Ascendis Pharma currently has a pipeline of three independent endocrinology rare disease product candidates in clinical development and is advancing oncology as its second therapeutic area of focus. The company continues to expand into additional therapeutic areas to address unmet patient needs.


Ascendis is headquartered in Copenhagen, Denmark, with additional offices in Heidelberg and Berlin, Germany, Palo Alto and Redwood City, California, and Princeton, New Jersey.


For more information, please visit www.ascendispharma.com.


About Vivo Capital


Founded in 1996, Vivo Capital is a global investment firm focused on healthcare. Vivo has approximately $4.3 billion in assets under management and has invested in 280 public and private companies worldwide. The firm is headquartered in Palo Alto, California, with additional offices in Asia. The Vivo team consists of more than 50 multi-disciplinary professionals, including, physicians, scientists, entrepreneurs, operating executives, and industry experts.


Vivo provides a multi-fund investment platform, covering growth equity, private equity including buyout, venture capital, and public equity. Vivo invests broadly in healthcare across all fund strategies, including biotechnology, pharmaceuticals, medical devices, and healthcare services, with a focus on the largest healthcare markets.


About Sofinnova Investments


Since its founding in 1974, Sofinnova has been active in life science investing. Sofinnova is a clinical-stage biopharmaceutical investment firm with approximately $2.3B in assets under management and committed capital. Sofinnova invests in both private and public equity of therapeutics-focused companies and its goal is to actively partner with entrepreneurs across all stages of company formation. From drug development and navigating the regulatory process to company building and IPO, Sofinnova strives to be collaborative, meaningful board members, and excellent partners at every level. Sofinnova seeks to build world class companies that aspire to dramatically improve the current state of medical care today and ultimately, the lives of patients.


About Sequoia China


The Sequoia team helps daring founders build legendary companies. In partnering with Sequoia, companies benefit from our unmatched community and the lessons we've learned over 49 years. As "The Entrepreneurs Behind The Entrepreneurs", Sequoia China focuses on three sectors: TMT, healthcare and consumer/service. Over the past 16 years we've had the privilege of working with approximately 600 companies in China.


About OrbiMed


From biopharmaceuticals to medical devices, diagnostics, and healthcare services, OrbiMed is scouting the globe for innovations that will help ensure humanity lives healthier, longer and more productive lives.


OrbiMed has been investing globally for over 20 years across the healthcare industry: from early-stage private companies to large multinational corporations. The OrbiMed team, composed of over 80 distinguished scientific, medical, investment and other professionals, manages over $16 billion across public and private company investments worldwide.


About Sherpa Healthcare Partners


Sherpa Healthcare Partners ("Sherpa") was founded in 2018, the founders previously worked together in one of China's leading venture capital firms, built and led its professional medical investment team since 2011, set up the dedicated healthcare investment fund and responsible for healthcare investment. The founders have been teamed together in close co-operation, built on shared values, mutual trust, and complementary capabilities. Sherpa has now become an influential healthcare VC firm in the industry.


About Cormorant


Cormorant Asset Management is a biotech focused investment firm founded in 2013 and is headquartered in Boston, Massachusetts. Since its inception, Cormorant has established itself as a premier crossover investor for companies looking to go through the IPO, as well as a long-term horizon investor for companies that are just starting out. Cormorant's investments are led by its founder, Bihua Chen, who prior to launching Cormorant has spent fifteen years successfully investing in the healthcare universe.


About HBM Healthcare Investments


HBM Healthcare Investments was founded in 2001 and invests in the healthcare sector. The Company holds and manages an international portfolio of promising companies in the human medicine, biotechnology, medical technology and diagnostics sectors and related areas. Many of these companies have their lead products already available on the market or at an advanced stage of development. The portfolio companies are closely tracked and actively guided in their strategic direction. This is what makes HBM Healthcare Investments an interesting alternative to investments in big pharma and biotechnology companies. HBM Healthcare Investments has an international shareholder base and is listed on SIX Swiss Exchange (ticker: HBMN).


About Pivotal bioVenture Partners China


Pivotal bioVenture Partners China, a member of Nan Fung Life Sciences, is a venture capital firm specializing in venture building in the life sciences industry. Its investment strategy is centered on identifying promising innovative products and technologies and bringing them to serve the growing unmet medical needs in Greater China region by building new ventures. Its investment areas include therapeutics, medical devices and medical services.


The Pivotal China team includes experienced life science investors and entrepreneurs with successful track records of venture building and investing.


About Logos Capital


Logos Capital is a fundamental biotechnology-focused investment partnership that combines scientific and financial expertise with in-house clinical trial analytics to identify transformative therapies in healthcare. Based in San Francisco, Logos combines expertise across medical, scientific, and statistical disciplines to expand the depth of diligence in identifying compelling investment themes and opportunities.


About CDG Capital


CDG Capital is an international investment management firm specialized in healthcare, high-end manufacturing and TMT sectors. CDG Capital is the sole advisor of China Reform Conson Soochow Overseas Fund I L.P.. Its portfolio companies in healthcare sector include Innovent, Akeso, Tigermed, RemeGen, MicroPort CardioFlow, Antengene, Grail, etc.


Forward-Looking Statement


This press release contains forward-looking statements which reflect VISEN Pharmaceuticals' current expectations regarding future events, including its expectations for the future development of the company. Forward-looking statements involve risks and uncertainties. All information in this press release is as of the date of this press release, and VISEN Pharmaceuticals undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise.


SOURCE VISEN Pharmaceuticals


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FINTOP Capital Announces Exit of Portfolio Company Kindful

NASHVILLE, Tenn., Jan. 8, 2021 /PRNewswire/ -- FINTOP Capital, a venture capital firm focused on B2B SaaS (software as a service) companies in the Financial Technology (FinTech) space, announced today that it has exited its investment in Kindful, a nonprofit software platform known for its best-in-class third party application integrations and online fundraising tools. Financial terms of the transaction were not disclosed.


Bloomerang, a leader in cloud-based donor management and fundraising software for small and mid-size nonprofits, acquired Kindful to accelerate their vision of helping nonprofits fund their missions. The new combined company will offer an expanded set of capabilities to help nonprofits attract more donors, deepen existing donor relationships and improve fundraising effectiveness. The acquisition builds on a strong year for Bloomerang which recently received a strategic growth investment from JMI Equity, a growth equity firm focused on investing in leading software companies.


Based in Nashville, Kindful was founded with the simple mission that nonprofits should be able to spend less time focused on their database and more time focused on their mission. With more than 12,900 nonprofit users and $8.3 billion tracked donations, Kindful has established itself as a leader in nonprofit software, earning a spot on the 2020 Inc. 5000 list. FINTOP Capital invested in Kindful in 2016, along with fellow early investor Meeting Street Capital of Charleston, South Carolina.


"Nashville needs more quality firms like FINTOP Capital and Meeting Street Capital who deeply understand SaaS and FinTech," said Jeremy Bolls, Founder and CEO of Kindful. "They quickly understood and aligned with our vision and invested in Kindful not only financially but also in quality time and attention as we accelerated our growth. I'll forever be grateful for the partnership and look forward to supporting Nashville's FinTech ecosystem."


"Kindful holds a special place in FINTOP's heart," said Joe Maxwell, managing partner at FINTOP Capital. "Not only are they local to Nashville, but they were our first investment as a firm. We have loved working with Jeremy Bolls, Andy Howell, and the entire management team and are thrilled to see them move to the next level with respected companies like JMI and Bloomerang."


About FINTOP Capital
FINTOP Capital is a venture capital firm focused on Financial Technology (FinTech) companies with offices in Nashville, Tenn., St. Louis, Mo., and New Jersey. Run by financial leaders and operators who have built successful startups themselves, the firm understands the ups and downs of the startup world. They bring strong networks, experience and capital to entrepreneurs building B2B service-enabled SaaS and software companies in the FinTech space. To learn more, visit www.fintopcapital.com or follow @fintopcap on Instagram and LinkedIn.


About Kindful
Kindful is a Nashville-based software company that provides powerful software to help nonprofits organize data and manage donors better. Featuring online donation pages, donor management tools, reporting tools, and integrated partnerships with industry-leading services, Kindful's platform is designed to help nonprofit employees more easily manage their donors, saving time and creating better insights. Kindful proudly powers thousands of world-changing organizations both in the U.S. and internationally and has consistently been recognized by G2 as a leader in nonprofit software and named to the 2020 Inc. 5000 for the first time. For more information, please visit kindful.com.


About Bloomerang
Indianapolis-based Bloomerang is a cloud-based donor management and fundraising platform designed to help nonprofits reach, engage and retain the advocates they depend on to achieve their vision for a better world. For more information about Bloomerang, visit: https://bloomerang.co.


About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 150 businesses in its target markets, successfully completed over 100 exits and raised more than $4 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information visit jmi.com.


About Meeting Street Capital
Based in Charleston, South Carolina, Meeting Street Capital invests in early stage B2B SaaS and other tech-enabled companies founded by domain experts, focused on vertical markets, and based in the Southeast.  For more information, please visit https://www.meetingstreetcapital.com/.


Contacts:


For Bloomerang:
Steven Shattuck, Chief Engagement Officer
[email protected]


For JMI Equity:
Chuck Dohrenwend / Will Braun
Abernathy MacGregor
[email protected] / [email protected]
212-371-5999


SOURCE FINTOP Capital


Related Links

http://www.fintopcapital.com


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Blacksmith Medicines Launches With Seed Funding and a Research Collaboration With Lilly

SAN DIEGO, Jan. 8, 2021 /PRNewswire/ -- Blacksmith Medicines, Inc. (Blacksmith), a biotechnology company focused on creating novel medicines for immuno-oncology and inflammatory diseases by targeting human metalloenzymes, announced today that it has secured seed funding and has entered into a research collaboration with Eli Lilly and Company (Lilly). Lilly joins existing Blacksmith investors Evotec A.G., MP Healthcare Partners, MagnaSci Ventures, and Alexandria Venture Investments. Blacksmith is a spin-out of Forge Therapeutics, a leading antibiotic discovery company discovering therapies to combat the rise of drug resistance.


Under the terms of the research collaboration agreement, Blacksmith and Lilly will collaborate on up to 5 human metalloenzyme targets, with Blacksmith advancing novel small molecule inhibitors from fragment to 'hit' stage after which Lilly has the right to continue research, development, and commercialization. Blacksmith will receive an upfront payment and an investment from Lilly in exchange for a convertible note and will be eligible for up to approximately $60 million per target in potential research, development and commercial milestones for a total potential deal size up to approximately $300 million.


The Blacksmith metalloenzyme platform is a unique drug discovery engine purpose-built to target the largest and most diverse group of enzymes in the human genome. Blacksmith's proprietary platform has several distinct advantages over traditional drug discovery approaches including:



  • A large proprietary fragment library of metal-binding pharmacophores (MBPs);

  • A comprehensive database containing a full characterization of the metalloenzyme genome including functions, metal cofactors, and associations to disease;

  • A first-of-its-kind metallo-CRISPR library of custom single guide RNAs;

  • An industry-leading metalloenzyme computational toolkit for docking, modeling and structure-based drug design; and

  • A robust and blocking intellectual property estate covering bioinorganic, medicinal, and computational chemistry approaches for metalloenzyme-targeted medicines.


"We are excited to launch Blacksmith Medicines with our investors and enter this research collaboration with Lilly, who collectively share our commitment to advancing novel chemistry approaches to create new medicines for patients in need," said Zachary Zimmerman, Ph.D., CEO and co-founder. "With the creation of Blacksmith, we are now able to expand our metalloenzyme platform into other therapeutic areas outside of anti-infectives, deepening our expertise and creating increased value for our shareholders, strategic partners and patients. We look forward to broadening the reach of our technology as we focus our efforts on identifying novel targets for immuno-oncology and inflammatory diseases."


About Blacksmith Medicines


At Blacksmith Medicines, we are developing medicines targeting metal-dependent enzymes found in human physiology. Over 30% of known enzymes are metalloenzymes, covering all major enzyme classes: oxidoreductases, transferases, hydrolases, lyases, isomerases, and ligases.  Metal ions, including magnesium, zinc, iron, manganese and copper, are the essential ingredient in these metalloenzymes. We recognized a large unmet need for new chemical matter and innovative approaches to drug this important class of enzymes. Our purpose-built platform for metalloenzyme-targeted medicines combines for the first time in industry, a focused library of metal-binding pharmacophores with proprietary computational modeling approaches to rapidly and rationally design small molecule inhibitors that interact with key metal ions in the enzyme's active site. Our comprehensive knowledge of the metal environment and key active site interactions enables Blacksmith to rapidly build potent and selective inhibitors in a stepwise and predictable manner.


For further information, please visit the company's website at www.BlacksmithMedicines.com and follow us on LinkedIn.


About Forge Therapeutics


At Forge Therapeutics, we are developing novel antibiotics targeting bacterial metal-dependent enzymes. Forge has a strategic antibiotic discovery relationship with Evotec AG, antibiotic research collaborations with Basilea Pharmaceutica International Ltd. and Hoffmann-La Roche Ltd., and has been awarded funding by CARB-X as well as government agencies. For further information, please visit the company's website www.ForgeTherapeutics.com and follow us on Twitter @ForgeThera.


Blacksmith and Forge Media Contact:
Amy Conrad
Juniper Point
[email protected]
858-366-3243


SOURCE Blacksmith Medicines


Related Links

http://www.BlacksmithMedicines.com


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Outstanding Foods Closes $10M Series A Financing Round

LOS ANGELES, Jan. 8, 2021 /PRNewswire/ -- Outstanding Foods, maker of PigOut® Pigless® Pork Rinds and TakeOut Meal-In-A-Bag Puffs, has raised $10 million in a Series A financing led by SternAegis Ventures. With this additional capital, Outstanding Foods will endeavor to expand both its retail footprint as well as its direct-to-consumer ("DTC") marketing efforts. Outstanding will also use the proceeds of this financing to bolster its research and development team led by cofounder Chef Dave Anderson in order to accelerate the development of new outstanding market-ready plant-based products.  Notable strategic investors Kenneth Harris, former Chairman of the Board of Enjoy Life Foods, and Javier Valéz-Bautista, former CEO of Mission Foods and current CEO of El Dorado Foods, both invested in the financing.


With this Series A financing, Outstanding Foods shall continue to execute upon a plan of rapid retailer expansion both nationally and globally in support of its first product, PigOut® Pigless® Pork Rinds, and its most recent innovation, TakeOut™ Meal-In-A-Bag™ Puffs.


"We've experienced explosive growth in 2020 in both our DTC and retailer channels, and feedback on our Addictively Delicious™ and nutritious products has been outstandingly positive," said Bill Glaser, CEO and co-founder of Outstanding Foods. "This Series A financing will enable us to accelerate our mission of making it easier for anyone to eat healthier plant-based foods. Look for more Outstanding Foods tasty innovative products to come!"


"We are committed to supporting the Outstanding Foods team in its mission to develop a plant-based snack products global brand," said Cassel Shapiro, CFA, Partner, SternAegis Ventures. "Outstanding Foods is led by passionate serial entrepreneurs seeking to push the boundaries of what's possible with plant-based ingredients."


Outstanding Foods was cofounded by Bill Glaser and Chef Dave Anderson out of a shared, decades-long love for plant-based, delicious foods. With a desire to make plant-based eating Tasty as Hell™, Outstanding Foods creates snacks that everyone — from meat lovers to herbivores — can enjoy mindfully without sacrificing taste or texture. Outstanding Foods products are currently sold in retailers nationwide including locations at Walmart, Kroger, Whole Foods and southwest 7-11 locations.


To learn more about Outstanding Foods, check us out at www.outstandingfoods.com and on Instagram at @outstandingfoods.


ABOUT STERNAEGIS VENTURES
SternAegis Ventures partners with companies such as Outstanding Foods to bring great ideas to life. SternAegis seeks to identify 'the next big idea' and then endeavors to add value through capital formation and strategic advisory services. To learn more about SternAegis Ventures: www.sternaegis.com


ABOUT OUTSTANDING FOODS
Built on the burning desire to make better-for-you plant-based foods Addictively Delicious™, Outstanding Foods creates foods everyone can love without sacrificing taste and texture. Beginning with wholesome 100% plant-based ingredients, packed with protein and other health benefits, each product is skillfully prepared for superb taste and superior texture, and is free from gluten, soy, GMOs, trans fats, and cholesterol. The brand also gives back, partnering with non-profits that help improve the well-being of farm animals, the environment, and the health of the communities it serves. Its newest product TakeOut™ Meal-In-A-Bag™ Puffs and PigOut® Pigless® Pork Rinds are available direct-to-consumer at www.outstandingfoods.com and at retailers nationwide.


Contact: Johanna Albertsson, Krupa Consulting                                                                          
[email protected] / t. 323-363-0519


SOURCE Outstanding Foods


Related Links

http://www.outstandingfoods.com


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Thursday, January 7, 2021

SoftBank's SVF Investment Corp. Announces Pricing of $525 Million Initial Public Offering

LONDON, Jan. 7, 2021 /PRNewswire/ -- SVF Investment Corp. (the "Company") announced today the pricing of its initial public offering of 52,500,000 units at $10 per unit. The units will be listed on the Nasdaq Capital Market ("Nasdaq") in the United States and trade under the ticker symbol "SVFAU" beginning on January 8, 2021.


The Company is sponsored by SoftBank Investment Advisers ("SBIA"), the investment manager to the SoftBank Vision Funds. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in a technology-enabled sector. The company is led by Rajeev Misra, the CEO of SBIA, and Navneet Govil, the CFO of SBIA.


Each unit offered for sale consists of one Class A ordinary share, and one-fifth of one warrant to purchase one Class A ordinary share, for $10.00 per unit. In addition, an affiliate of the sponsor, intends to enter into a forward purchase agreement with us that will provide for the purchase of up to $300,000,000 forward purchase units, each consisting of one Class A ordinary share, or a forward purchase share, and one-fifth of one warrant to purchase one Class A ordinary share, or a forward purchase warrant, for $10.00 per unit, in a private placement to close substantially concurrently with the closing of the initial business combination. When the securities comprising the units begin separate trading, the Company expects that the Class A ordinary shares and warrants will be listed on Nasdaq under the symbols "SVFA" and "SVFAW" respectively.


Citigroup Global Markets Inc., Deutsche Bank Securities Inc., and Cantor Fitzgerald & Co. are acting as book-running managers in the offering. The Company has granted the underwriters a 45-day option to purchase up to 7,875,000 additional units at the initial public offering price to cover over-allotments, if any.


The initial public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained for free from the U.S. Securities and Exchange Commission website http://www.sec.gov; Citigroup Global Markets Inc., c/o 388 Greenwich Street, New York, New York, 10013, Telephone: 1-646-291-1469; Deutsche Bank Securities Inc., 60 Wall Street, 2nd Floor, New York, New York 10005, Attention: Equity Capital Markets – Syndicate Desk, with a copy to Deutsche Bank Securities Inc., 60 Wall Street, 36th Floor, New York, New York 10005, Attention: General Counsel, Fax: +1 (646) 374-1071; and Cantor Fitzgerald & Co., 499 Park Avenue, New York, New York, 10022, Attention: Legal.


A registration statement relating to the securities sold in the initial public offering has been declared effective by the U.S. Securities and Exchange Commission on January 7, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.


For more information, please see www.svfinvestmentcorp.com.


Forward-looking statements


This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and the anticipated use of the net proceeds thereof. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.


About SVF Investment Corp.


SVF Investment Corp. is a newly organized blank check company formed by an affiliate of SoftBank Investment Advisers ("SBIA"). Through the SoftBank Vision Funds, SBIA is investing up to $100 billion in many of the world's leading technology companies, including those we've helped take public such as 10X Genomics, Beike, DoorDash, Guardant Health, OneConnect, Opendoor, PingAn Good Doctor, Relay Therapeutics, Seer, Slack, Uber, View, Vir, and ZhongAn Insurance. SBIA's global reach, unparalleled ecosystem, and patient capital help founders build transformative businesses.


Media contact:
Rowan Brown
SoftBank Investment Advisers
[email protected]


SOURCE SVF Investment Corp



Source

Carrum Health Raises $40 Million to Transform Healthcare Delivery and Lower Costs through First-of-Its-Kind Digital Marketplace

SAN FRANCISCO, Jan. 7, 2021 /PRNewswire/ -- Carrum Health, the first digital health company connecting employers and employees to Centers of Excellence (COEs) through a technology-powered platform for better, more cost-effective healthcare, today closed $40 million in Series A funding led by Tiger Global Management LLC, with participation from GreatPoint Ventures and Cross Creek and return investors Wildcat Venture Partners and SpringRock Ventures. Carrum Health will use this funding to expand its offerings to more employers, provide access to additional healthcare services and enhance technology to support its fast-growing roster of clients and providers.




Carrum Health is applying the latest technology to enhance care, increase access and improve outcomes. With its digital marketplace, patient app and AI-driven insights, the company delivers value-based care that is more economical for self-insured employers, increases employee access to top-performing providers and drives practice growth for providers.

A Digital Marketplace for Premier Care
Carrum Health developed the first-ever digital marketplace that enables employers to purchase healthcare services directly from top providers for a bundled price. This approach helps employers curb rising healthcare spending at a time when surgery-related costs account for as much as 50% of expenses, with 25% of surgeries not being medically necessary, according to data from Carrum Health.


"Working with Carrum, self-insured companies can offer their employees the best care from top surgeons while effectively managing their spend. Carrum is going after a $100 billion market opportunity, and we're very excited to partner with Sach and his team," said Scott Shleifer, partner at Tiger Global Management.

Carrum Health's COE digital platform eliminates the complexities of co-pays, deductibles and coinsurance, while ensuring that patients get exceptional care, leading to better outcomes, at a lower, predictable cost. With this model, Carrum Health's providers offer a 30-day warranty on each procedure, including any costs associated with the care. Because clinical quality is of utmost importance, Carrum Health evaluates both the COE and the surgeon with a proprietary 50-point evaluation process, ensuring only the top 10% of providers are invited to join the platform.

"Carrum Health caught our attention because they have created a technology solution that, when combined with a high-touch personalized service, is already bending the cost curve and improving the overall health and wellbeing of surgery populations," said Ray Lane, managing partner at GreatPoint Ventures. "Carrum Health is changing both sides of the healthcare market, impacting how providers can build their practices and how employers procure and pay for their services. We are excited to help them expand their footprint nationally."

AI-Driven Insights for Benefits Managers
Carrum Health saw an opportunity to not only change how healthcare is paid for, but also how it is delivered. At the heart of Carrum Health's marketplace platform is a layer of analytics that integrates data from numerous sources, including claims information, to monitor cost and quality. Using machine learning, Carrum Health identifies the people most at risk for surgery and utilizes post-discharge data collection to monitor recovery and prevent complications that contribute to readmissions.

A Connected Mobile App Puts Power in Patient's Hand
The platform is connected to the Carrum Health mobile app, which provides patients with the power to manage their own health by guiding them through all aspects of their care journey. Patients also have access to an expert care specialist who assists them throughout the process.

"Making high-quality healthcare more affordable and easier to access is what drives us every day at Carrum Health," said Sach Jain, CEO and founder of Carrum Health. "For years, the industry has talked about redesigning healthcare to benefit patients, but the only way to really do that is to tackle the underlying economics of care, a truly difficult task. At Carrum Health we're solving just that. Employers now have a modern, technology-driven solution to help patients get better care without financial headache and we're not stopping at surgery. In 2021 we'll be expanding our reach and impact with additional services. It's such an honor to pave the way for a better healthcare future and we're so excited for what's to come."

Over the last 12 months, the number of Fortune 500 companies relying on Carrum Health has doubled with the addition of dozens of organizations in retail, manufacturing, communications, insurance, education and government. Since its launch in 2014, the company has broadened its COE network with new partners, including Johns Hopkins HealthCare LLC, Mayo Clinic and Tenet Healthcare. This rapid expansion has been fueled by proven results coming from Carrum Health's focus on clinical quality and its ability to immediately cut employers' surgery costs by as much as half, a priority that has become more critical for companies struggling with increasing healthcare costs related to COVID-19.

About Carrum Health 
Carrum Health was founded in 2014 with a mission to "bring common sense to healthcare" through a value-based healthcare model that benefits families, employers and providers. Headquartered in South San Francisco, Carrum's award-winning surgery benefits platform connects self-insured employers with top providers under standardized bundled payment arrangements to better manage healthcare costs. By aligning provider incentives with quality performance, Carrum drives improvements in patient experience and health outcomes. Customers include large Fortune 500 companies and public sector organizations. For more information, visit carrumhealth.com.

About Tiger Global
Tiger Global Management, LLC is an investment firm focused on public and private companies in the global internet, software, consumer and financial technology sectors. Since 2003, its private equity business has invested in hundreds of companies across more than 30 countries, including investments ranging from Series A to pre-IPO. Such investments have included Spotify, Harry's, Warby Parker, Peloton, JD.com, Facebook, LinkedIn, Yandex, Mail.ru Group, Despegar, Ola and Flipkart. Tiger Global Management, LLC, was founded in 2001 and is based in New York; it has affiliate offices in Hong Kong, Singapore, Bangalore and Melbourne.

SOURCE Carrum Health

Related Links

https://www.carrumhealth.com


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Echo Health Ventures Introduces New Innovation Alliance Bringing Together Three National Health Care Leaders to Collectively Invest in Transforming Health Care

The EIA further validates Echo's unique model and will accelerate our work with leading entrepreneurs -Rob Coppedge, CEO Tweet this The ...