Founded in 1984, the firm, which has approximately $625 million in assets under management and three offices in Massachusetts, provides full-service wealth management to individuals and families

CHICAGO, Feb. 13, 2023 — Hightower today announced it has made a strategic investment in Bickling Financial Services, Inc., a Lexington, Massachusetts-based registered investment advisor (RIA) with approximately $625 million in assets under management and three offices across the state.

Founded in 1984, Bickling Financial Services, Inc. (BFS) is a family-owned business. The firm’s founder, Dorothy Bickling, Ed. D., was one of the first 600 people—and one of the first women—to earn the Certified Financial Planner (CFP^®) designation. Dorothy’s two sons, Spencer Betts and Andrew Betts, joined the firm in 2000 and 2007, respectively. Since joining the firm, Spencer and Andrew, now co-Managing Principals of BFS, helped BFS transition the practice to an independent RIA and have since led the firm’s evolution to become an institutionalized business.

“As a firm, we have experienced tremendous growth over the past few years,” said Spencer Betts, CFP^®, who, along with his brother, Andrew Betts, MBA, CFP^®, oversees the family-owned business. “To continue achieving our growth goals, we knew we needed a strategic partner that could help us scale the business and invest in its future. After speaking with several options in the marketplace, we concluded that Hightower has the right combination of resources and value-added services that will allow us to both serve clients and take the business to new heights.”

With 14 employees, including five advisors, Bickling Financial Services provides full-service wealth management and financial planning services designed to help clients achieve their long-term personal and financial goals.

“When it came to choosing a partner, we knew we wanted a firm that would add resources and expertise, but also give us the freedom to implement our strategic vision,” Andrew Betts said. “With Hightower, we have a partner who appreciates our vision and can provide the right level of support to help us follow through on our growth plan in an accelerated fashion. We see this as the next evolution of our business.”

Bickling Financial Services has strong ties to communities in New England and throughout the Northeast. Throughout its history, the firm has largely served affluent and high-net-worth client households.

“Spencer and Andy are young leaders who have ushered in tremendous growth over the past several years,” said Hightower Chairman and CEO Bob Oros. “We look forward to helping them achieve their ambitious growth goals, both organically and through talent acquisition, scale their operations, and develop the next-generation of leaders through programs like our Hightower Center for Leadership.”

Hightower offers its 132 advisory businesses in 34 states and the District of Columbia a range of services designed to catalyze and accelerate organic growth, including business development consulting, leadership and team development, talent acquisition, marketing support, technology, investment management resources, compliance, accounting, payroll and human resources. Inorganic growth services include sourcing, valuation, deal structuring, due diligence, legal and regulatory, pre- and post-close integration, and capital resources for M&A transactions. Advisory groups that partner with Hightower also gain access to economies of scale, deep industry relationships and a nationwide advisor community.

As of December 31, 2022, Hightower’s assets under administration were approximately $144.3 billion, and assets under management (AUM) were $113.7 billion, an increase from $106.1 billion as of September 30, 2022.

About Hightower
Hightower is a wealth management firm that provides investment, financial and retirement planning services to individuals, foundations and family offices, as well as 401(k) consulting and cash management services to corporations. Hightower’s capital solutions, operational support services, size and scale empower its vibrant community of independent-minded wealth advisors to grow their businesses and help their clients achieve their vision of “well-th. rebalanced.” Based in Chicago with advisors across the U.S., the firm operates as a registered investment advisor (RIA). Learn more about Hightower’s collaborative business model at www.hightoweradvisors.com.

Securities offered through Hightower Securities, LLC member FINRA/SIPC. Hightower Advisors, LLC is a SEC registered investment advisor.

Media Contact:
Siobhan Nolan
JConnelly
(862) 217-9585
[email protected] 

SOURCE Hightower

CaPow’s autonomous, battery-free and high-power energy eco-system eliminates robots’ dependency on costly, hazardous, Lithium-Ion batteries. The company’s patented technology dramatically reduces CapEx, OpEx and carbon footprint, while keeping optimal operational continuity as there is no robot downtime due to charging.

BE’ER SHEVA, Israel, Feb. 13, 2023 — CaPow, a perpetual power solution provider, today announced it raised a $7.5 million Seed round to scale up the commercialization of its battery-free, wireless, energy delivery eco-system for autonomous robotics. This solution provides continuous power for automated robotic environments while eliminating robot downtime due to charging. The round was led by IL Ventures, a VC fund focused on disruptive technologies for legacy industries, with co-investment from Mobilion VC, Payton Planar Magnetics, Doral Energy-Tech Ventures, Mobilitech Capital, and Mr. Ray Nissan, a prominent angel investor.

Today, many automated solutions rely on batteries for power supply. This dependency leads to several inherent inefficiencies such as charging downtime and rampant costs due to the need for additional robots to replace ones that are being charged. Moreover, traditional batteries have a negative environmental impact, as they create safety hazards and are an operational “headache” since they require dedicated procurement strategy, special shipping, handling, storage and recycling.

CaPow addresses the primary bottleneck for automation: the challenge of providing reliable, cost-effective, and non-pollutive energy. By offering consistent power flow for mobile robots, CaPow’s energy delivery eco-system allows automated robotic solutions to continuously operate with no energy depletion downtime, while ending the concept of reliance on legacy batteries. CaPow’s “battery-free”, paradigm-shifting solution is being well received along the logistics value chain, as it is validated to cut down the size of the required robot fleet, enhance throughput and improve the ROI of automation.

CaPow’s proprietary solution facilitates optimal power transfer with wide and dynamic capabilities. It accommodates multiple users, as well as the presence of metal and debris in and around the energy transfer field. In addition, it supports large distances between the transmitting and receiving ends, as well as wide spatial coverage. This provides substantial power levels with optimal end-to-end efficiency. The value of CaPow’s technology further expands to the wider mobility market with a wide range of applications. 

Mr. Amir Fishelov joins CaPow’s Board of Directors as Chairman of the Board, leveraging his two decades of experience as Co-Founder of SolarEdge (Nasdaq: SEDG), a pioneer and global leader in smart energy technology. At SolarEdge, a $17B company, Mr. Fishelov served as Chief Architect as well as VP Strategy and Corporate Development, leading large-scale and complex energy management projects.

“With the backing of our investors and strategic partners, CaPow is challenging robot manufacturers, automation solution providers, and facility operators to change their definition of operational efficiency”, says Prof. Mor Peretz, Co-Founder & CEO at CaPow. “We look forward to accelerating our product development to meet strong market demand for our innovative and proven technology. The company will use the proceeds from the investment round to expedite business growth in markets around the world.”

“At IL Ventures, we align closely with CaPow’s mission of creating a sustainable, battery-free power supply for the industry,” says Yoni Heilbronn, Managing Partner at IL Ventures. “We are excited to invest in an exceptional and proven technology, which is a game changer for the entire robotic power landscape.”

“I am very proud BGN Technologies took part in bringing CaPow’s revolutionary technology to the market,” says Zafrir Levi, VP Exact Sciences at BGN, the commercialization arm of the Ben-Gurion University. “We wholeheartedly believe in CaPow’s Perpetual Power solution, and this investment is proof of the company’s superior technology and for the massive potential for disrupting the industry in which it operates”.

About CaPow

CaPow is a pioneer in the field of continuous power delivery, facilitating a revolutionary perpetual power sourcing solution that drives a change in the way automation solutions are designed and deployed. This enables customers to achieve maximal efficiency while dramatically reducing overall expenses. CaPow’s Genesis system allows robotic fleets to reach round-the-clock, constant, 100% throughput by eliminating charging downtime.

Based on nearly two decades of research and backed up by extensive patent portfolio, CaPow’s technology significantly improves automated fleets power delivery strategy, simplifies infrastructure installation, and establishes eco-friendly deployments.   

CaPow’s roadmap, guided by innovative spirt, is supported by leading investors and distinguished members in the industry. Former Amazon Robotics leaders Vikas Enti and Nils Alstad serve as strategic advisors to the company. Visit capow.energy or follow us on LinkedIn.

About IL Ventures

IL Ventures invests in disruptive yet tangible technologies that offer deep, actionable insights which drive better business decisions. The fund combines capital with incredibly deep operational experience and an unparalleled global network that helps founders rapidly scale and go global. Backed by top-tier global investors and partners, its team of company builders and industry executives is poised to unlock the full potential Israel’s most promising startups. For further information visit www.il-ventures.com.

For further information, please contact:
Noam Geffen
VP Business Development
[email protected] 
+972544448467

SOURCE CaPow

SHANGHAI, Feb. 10, 2023 — LanzaTech NZ, Inc. (“LanzaTech”), an innovative leader in carbon capture and transformation and a Qiming Venture Partners portfolio company, listed on Nasdaq on Feb 10 Beijing time, following the completion of its business combination with AMCI Acquisition Corp. II (“AMCI”), a special purpose acquisition company. The combined company will operate as LanzaTech Global, Inc. (NASDAQ: LNZA). It issued at $10.00/share representing a market cap of $2 billion.

As LanzaTech’s early investor, Qiming led the company’s series B round of financing in 2010 and followed on its Series C and D rounds. The successful listing is Qiming’s 4th IPO in 2023 and first SPAC IPO.

LanzaTech is a pioneer in using nature-based carbon refining technology to transform waste carbon into materials such as sustainable fuels, fabrics, and packaging that people use in their daily lives. Through licensing and co-development collaboration models, LanzaTech partnered with Shougang Group and launched the world’s first commercial carbon refining plant at the Jingtang Steel Mill in Caofeidian in Hebei Province, China in 2018, and have subsequently added two commercial plants operating in China, with total production of over 47 million gallons of fuel grade ethanol and mitigation of over 240,000 tons of CO2. There are 14 additional plants being developed worldwide, 12 of which are commercial-scale and two are demo-scale.

As sustainability becoming a global consensus, more companies are pledging carbon-neutral or zero-carbon goals, and environment-conscious consumer market is growing rapidly. LanzaTech partnered with major brands such as Lululemon, Total and L’Oreal, and Unilever to deliver world’s first sustainable packaging and materials leveraging captured carbon emissions instead of fossil fuels, supporting and creating a more sustainable future.

“The successful IPO marks a new milestone for LanzaTech. We look forward to more success by LanzaTech’s cutting-edge technology solution to help achieve green manufacturing and carbon neutrality goals.” Said Gary Rieschel, Founding Managing Partner of Qiming Venture Partners.

About Qiming Venture Partners

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston and the San Francisco Bay Area.

Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.4 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.

Since our debut, we have backed over 480 fast-growing and innovative companies. Over 180 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange or Shenzhen Stock Exchange, or through M&A or by other means. There are also over 70 portfolio companies that have achieved unicorn status.

Many of our portfolio companies are today’s most influential firms in their respective sectors, including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, New Horizon Health, Venus MedTech, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, Biren Technology and UBTech among many others.

SOURCE Qiming Venture Partners

Predicta Med is building the world’s first decision support platform for early detection and intervention recommendation of immune-related diseases.

COSTA MESA, Calif., Feb. 10, 2023 — SoCal headquartered Venture Capital fund, CerraCap Ventures, has announced a strategic investment in Predicta Med, one of the world’s leading early startups helping medical clinics and institutions identify and work-up immune-related diseases earlier.

Their PredictAI^™ platform aggregates, analyses, and enriches data-driven decision-making that helps healthcare providers drastically reduce immune-related disease diagnosis from years and months to weeks. Predicta Med has established vital partnerships with prestigious healthcare providers like Hea3rt (Stanford Medicine’s Healthcare AI Applied Research Team), Hoag Memorial Hospital, Presbyterian and KSM (Kahn-Sagol-Maccabi) Research and Innovation. In addition, Predicta Med has completed Mayo Clinic Platform Accelerate, a 20-week program focused on model validation and clinical readiness designed to help early-stage health tech AI startups become market-ready. These collaborations have enriched Predicta Med’s data analytics platform with more than 8.5 million EMR and claims records.

Commenting on the investment, Abhi Mukherjee, Operating Partner, CerraCap Ventures, said, “Predicta Med has a clearly defined mission to improve the health of millions and has built a commendable early-mover advantage in creating a decision support platform to help early detection and intervention of chronic diseases that afflict more than 50 million Americans annually. Shlomit and Benny, Predicta Med’s Co-Founders, are very passionate about their mission and have brought together an elite team of subject matter experts, advisors, and investors. We are confident that together, we will make a positive impact to millions of lives globally.”

Predicta Med’s mission is to help improve the lives of millions of patients affected by more than 100 autoimmune and immune-related diseases known today. The annual global spending on the diagnosis and treatment of autoimmune diseases exceeds $100B worldwide. Successful pilots in the US and Israel put Predicta Med’s team at the cusp of the large-scale availability of their platform for providers and payers alike. 

Shlomit Steinberg-Koch, Co-Founder and CEO of Predicta Med, added, “We are excited to have CerraCap Ventures on board so early in our journey. Early-stage startups like ours must have VCs deeply passionate about healthcare innovation. We are in great company with CerraCap’s portfolio startups, poised to improve healthcare outcomes for billions. Benny Getz (Co-Founder and CTO) and I are excited to have access to CerraCap’s robust healthcare advisory and business network. Our mission to expand in the US market has started on a very positive note, and I am positive that we can build the right market access strategy for Predicta Med.”

Predicta Med’s deep learning engine aggregates EMR and claims data, enriches and analyzes it using state-of-the-art techniques. The platform discovers patients at risk of autoimmune and immune-related diseases and provides actionable insights for optimal work-up. The learning algorithms are geared to develop models that can be adaptively applied to other conditions. The current product suite is focused on seven immune-related diseases – Celiac, Crohn’s Disease, Ulcerative Colitis, Multiple Sclerosis, Rheumatoid Arthritis, Systemic Lupus Erythematosus and Psoriatic Arthritis. Immediate plans include targeted pilots, strengthening provider and payer partnerships and expanding the core R&D and S&M teams for optimal product experience.

About CerraCap Ventures
CerraCap Ventures, a Global Venture Capital fund headquartered in Southern California, is dedicated to early-stage technology investments in enterprise (B2B) solutions focused on the new fundamentals of the digital age – Cyber Security, Healthcare and Planet Tech. It enables rapid growth of technology startups leveraging its unique Sales & Scale^™ business model, driving revenue from large enterprises into its portfolio companies. For more details, please visit: www.cerracap.com

About Predicta Med:
Predicta Med is an AI-based digital health company in the field of predictive analytics. Their mission is to enable early detection and effective treatment selection of autoimmune and immune-related diseases using their propriety AI engine. They empower clinicians to provide earlier recognition and identification, and offer clinically validated work-up suggestions to reduce disease progression by combining expert medical knowledge with cutting-edge learning techniques. Successful ongoing pilots have accelerated Predicta Med’s journey to improving millions of lives worldwide by shortening the diagnosis journey and enabling early detection and effective treatment. Read more: www.predicta-med.com/

Contact:
Nikki Arora
[email protected]

SOURCE CerraCap Ventures

RALEIGH, N.C., Feb. 10, 2023 — 10 Federal, a leading high-tech self-storage operator, is proud to announce the successful completion of its latest funding round for its 4th self-storage offering, 10 Federal Self Storage Acquisition Company 4, LLC (“10FSSAC4”). This latest round generated an additional $11.2 million in equity, bringing the total capital raised to over $22 million.

10FSSAC4 is an integral part of 10 Federal’s proprietary business plan to leverage technology to improve the operations and customer experience of self-storage assets. The offering aims to raise $100,000,000 in equity, and 10FSSAC4 is executing a ‘late cycle’ strategy that prioritizes equity over debt leverage to reduce interest rate volatility risk.

10 Federal’s goal is to acquire, renovate, and convert self-storage properties to its unmanned, automated platform, which leverages technology and remote support to enhance the customer experience and drive returns for stakeholders.

The next equity closing for 10FSSAC4 is scheduled for April 1st, 2023. For more information about the investment opportunity, please visit this link.

SOURCE 10 Federal

SHANGHAI, Feb. 9, 2023 — On Feb 9 Beijing time, Hesai Technology (“Hesai”), a global leader in LiDAR technology and Qiming Venture Partners’ portfolio company, began trading on Nasdaq. Hesai Technology (NASDAQ: HSAI) offered at $19/ADS and opened at $23.75/ADS, up by 25%, representing a market cap of $2.98 billion.

Dedicated to bridging frontier technology and social change, Qiming has a long-term focus on innovative progress in autonomous driving. Back in 2019, Qiming invested in Hesai Technology’s Series C round of financing and followed on in its Series D round. Hesai Technology’s successful listing marks Qiming’s 3^rd IPO in 2023.

Hesai Technology was founded in Shanghai in 2014. With the mission of “Empower Robotics, Elevate Lives”, it has become a global leader in LiDAR technology for autonomous mobility and ADAS (Advanced Driver Assistance Systems). Hesai’s LiDAR products enable a broad spectrum of applications across passenger and commercial vehicles with ADAS and autonomous vehicle fleets. Its technology also empowers robotics applications such as last-mile delivery robots and logistics robots in restricted areas.

Hesai’s innovative products are backed by superior R&D capabilities across optics, mechanics, electronics, and software, with hundreds of patents globally and record-breaking self-developed chips, functional safety, active anti-interference technologies, etc. It integrates LiDAR designs with an in-house manufacturing process, facilitating rapid product development while ensuring high performance, consistent quality and affordability. The company currently provides solutions for global major autonomous driving companies and top automobile manufacturers, and robotics companies, covering 40 countries and over 90 cities around the world.

As an industry leader, Hesai has an edge on both delivery volume and revenue scale. As of 2022, the cumulative deliveries exceeded 103,000 units, making Hesai the first vehicle LiDAR company in the world to reach the 100,000 level. It is also one of the few companies to start delivering LiDAR products in volume to automotive OEMs, setting a global record of over 10,000 units delivered per month. According to a Frost & Sullivan report, Hesai is the global leader in the autonomous mobility LiDAR market by 2021 with approximately 60% of the global market share. 

Li Yifan, Co-founder and CEO of Hesai Technology, said, “At Hesai, our vision is to empower the future of robotics with high performance LiDAR solutions that elevate lives and make the world a better, safer and more efficient place for everyone.”

“Qiming is honored to accompany Hesai’s growth and delighted to see its IPO on Nasdaq, a milestone and a new beginning for the company. We look forward to seeing more exciting technology and product innovations from Hesai to help promote the wider adoption of autonomous driving,” said Duane Kuang, Founding Managing Partner of Qiming Venture Partners. “As the global automotive industry moves to cleaner and smarter vehicles, the industry landscape will continue to evolve. We see many interesting investment opportunities in the intelligent and autonomous driving value chain. Qiming will continue to support entrepreneurs to innovate in these exciting and growing areas.”

About Qiming Venture Partners

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston and the San Francisco Bay Area.

Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.4 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.

Since our debut, we have backed over 480 fast-growing and innovative companies. Over 180 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange or Shenzhen Stock Exchange, or through M&A or by other means. There are also over 70 portfolio companies that have achieved unicorn status.

Many of our portfolio companies are today’s most influential firms in their respective sectors, including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, New Horizon Health, Venus MedTech, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, Biren Technology and UBTech among many others.

SOURCE Qiming Venture Partners

Investment empowers Prosperity Advisors to pursue key strategic initiatives and positions the firm for growth

Cetera’s partner practice program continues to invest in unique wealth management practices, complementing its suite of succession, buyout, and practice-pairing options

LOS ANGELES, Feb. 9, 2023 — Cetera Financial Group, (Cetera), one of America’s largest networks of financial professionals, announced today that it has made a strategic, minority investment in Kansas City-area based Prosperity Advisors, led by industry veteran Paul Ewing, CFP^®. With over 60 staff in four locations – Overland Park, KS, Akron, OH, Carmel, IN and Toledo, OH – advisors of Prosperity Advisors have been affiliated with Cetera since 1999, and the investment represents the next step in the evolution of the firms’ partnership. Cetera has helped drive considerable asset growth for Prosperity Advisors since 1999 and aims to accelerate growth and success through this investment.

“Paul and his team are a shining example of the industry’s best independent, client-first practices, and we are proud to partner to achieve long-term growth and success,” said Adam Antoniades, CEO at Cetera. “These investments put Cetera’s skin in the game to help practices grow in ways that are most meaningful and important to each advisor and their business. We look forward to more of these selective investments as we continue to serve as a wealth hub to our valued advisors. It is important that our advisors know that Cetera is here to support them through all stages of their careers with financial backing and growth resources paired with independence to best serve their clients.”

“This expanded partnership with Cetera activates our potential to reach new heights, better serve clients and expand our services in new ways for years to come,” Ewing said. “Cetera fully understands our business goals, shares our vision and embraces our client-first approach, and we look forward to close collaboration. Our team is enthused and inspired about a bright future for our business and our clients under this new partnership.”

Ewing founded Prosperity Advisory Group in 1989 and has worked in the financial services industry since 1980. He has consistently earned several industry recognitions throughout his career, including Financial Times 400 Top Advisor from 2015-2020, Forbes Finance Council, and Barron’s Top Team. He is a member of the Advisors Panel for the Insured Retirement Institute.

The investment is the latest in Cetera’s partner practice program, which provides select advisors the option to have Cetera invest in a minority stake in their firm and utilize agile, proprietary growth solutions and technology to grow their business. In October 2022, Cetera completed a minority investment into CCR Wealth Management, a $2.5 billion AUM practice, as of October 2022, which is designed to help CCR Wealth Management accelerate it business growth. The investments in Prosperity Advisors and CCR Wealth Management diversify and position Cetera for growth, hedging the impact of market volatility and economic uncertainty.

Cetera is also partnering with advisors to provide a suite of succession solutions, including advisor-to-advisor support, business continuity solutions and practice monetization.  Recent examples include: 

• In early 2022, father-son-led team Costanzo Financial Group, which managed more than $400 million in AUA for clients through Cetera Advisors as of March 2022, approached Cetera looking to preserve their independence as the father neared retirement. Cetera purchased the firm in March 2022, preserving Costanzo Financial Group’s business structure and relationship with Cetera while enhancing firm operations and growth potential.
• In January 2021, Cetera acquired financial services firm BAR Financial, which managed nearly $4 billion in AUM on Cetera’s My Advice Architect^® advisory platform, as of January 2021. BAR founding partners John Brackett, Eric A. Huck, CFP^®, and Anthony Tarantino determined that the partnership with Cetera Advisor Networks, LLC offered the best path for the firm’s growth and created the future they envisioned for their business, their families and their clients.
• In March 2021, Cetera acquired financial services firm MAGIS, an RIA focused on providing financial planning and holistic advice to more than 350 households. The ownership change was designed to fuel additional growth for the firm, which managed approximately $500 million in AUM for clients, as of March 2021.

Visit www.prosperityadvisors.com and www.cetera.com for more information.

About Cetera Financial Group®

An at-scale wealth hub, Cetera Financial Group (Cetera) offers financial professionals and institutions the latest solutions, support, and services. Breaking away from a commoditized and homogenous IBD model, Cetera instead creatively addresses advisors’ and institutions’ unique needs, whether they are seeking to grow, scale, or transition with a merger, sale, investment, or succession plan. Cetera proudly serves independent financial advisors, tax professionals, licensed administrators, large enterprises, as well as institutions, such as banks and credit unions, providing an established and repeatable blueprint for scalable growth.

Cetera’s approach empowers advisors to affiliate in whichever way they deem most appropriate. During the professional life cycle of their practice, the Cetera wealth hub ensures each advisor’s affiliation model identifies and ignites growth levers in a way that maximizes the value of their practice, people, and legacy. Cetera delivers holistic, unbiased financial planning and advice to Main Street investors, helping them achieve their version of financial wellbeing at all life stages. For financial professionals, Cetera provides growth and succession resources, an enhanced advisor tech stack and importantly, an experience where financial professionals don’t feel like a number, but an integral part of Cetera’s rich and thriving ecosystem.  

Home to more than 8,000 financial professionals and their teams, Cetera oversees approximately $322 billion in assets under administration and $115 billion in assets under management, as of December 31, 2022. In a recent advisor satisfaction survey of more than 14,000 reviews, Cetera’s Voice of Customer (VoC) program vigorously measures advisor experience and satisfaction 24/7. Currently, it’s ranked 4.7 out of 5 stars.

 Visit www.cetera.com, and follow Cetera on LinkedIn, YouTube, Twitter and Facebook.  

“Cetera Financial Group” refers to the network of independent retail firms encompassing, among others, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Specialists LLC. All firms are FINRA/SIPC members. Located at: 655 W. Broadway, 11^th Floor, San Diego, CA  92101.

Individuals affiliated with Cetera firms are either Registered Representatives who offer only brokerage services and receive transaction-based compensation (commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.

*Financial Times 400 Top Advisor is an independent listing produced by the Financial Times. The FT 400 is based on data gathered from firms and verified by broker-dealer home offices, regulatory disclosures, and the FT’s research. The listing reflects each advisor’s performance in six primary areas. The factors are: 1. Assets under management; 2. AUM growth rate; 3. Years of experience; 4. Compliance record; 5. Industry certifications; 6. Online accessibility. Neither the brokerages nor the advisors pay a fee to the Financial Times in exchange for inclusion in the FT 400. Listing in this publication and/or award is not a guarantee of future investment success. This recognition should not be construed as an endorsement of the advisor by any client. Recognition from rating services or publications is no guarantee of future investment success. Working with a highly rated advisor does not ensure that a client or prospective client will experience a higher level of performance or results. These ratings should not be construed as an endorsement of the advisor by any client nor are they representative of any one client’s evaluations. Forbes Finance Council is a collective of vetted professional networking communities for senior executives and business owners in a variety of industries. Barron’s Top Team: A ranking reflects the volume of assets overseen by the advisors and their teams, revenues generated for the firms, and the quality of the advisors’ practices. The scoring system assigns a top score and rates the rest by comparing them with the top-ranked advisor/teams. Listing in this publication and/or award is not a guarantee of future investment success. This recognition should not be construed as an endorsement of the advisor by any client.

SOURCE Cetera Financial Group

Runway’s Flexible Growth Capital to Aid in the Expansion of The Premium Hair Color Product Brand

WOODSIDE, Calif., Feb. 9, 2023 — Runway Growth Capital LLC (“Runway”), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, today announced the close of a senior secured term loan commitment of $50 million to Madison Reed, a digitally enabled omni-channel prestige hair color company predominantly focused on women. 

The funding will be used to grow customer acquisition, expand retail channels, and continue to expand the network of more than eighty hair color bars (stores) nationally. Runway’s non-dilutive growth loan will provide Madison Reed with needed late-stage growth capital.

“We are excited to partner with the premier brand in the beauty space,” said Brian Sapp, Managing Director at Runway. “Madison Reed has proven success through its omni-channel distribution network that allows customers to reach its products through a direct-to-consumer subscription, at branded hair color bars, and on the shelves of major national retailers. We have seen the substantial growth the brand has had since inception, and Runway is eager to be a part of their next evolution.”

“We were impressed with the speed in which Runway was able to provide flexible working capital and their partnership approach, and we were extremely interested in the non-dilutive nature of the loan,” said Amy Errett, Founder and CEO of Madison Reed. “This deal with Runway will help us take Madison Reed to the next level in building the prestige brand in Hair Color.” 

About Runway Growth Capital LLC

Runway Growth Capital LLC is the investment advisor to investment funds, including Runway Growth Finance Corp. (Nasdaq: RWAY), a business development company, and other private funds, which are lenders of growth capital to companies seeking an alternative to raising equity. Led by industry veteran David Spreng, these funds provide senior term loans of $10 million to $100 million to fast-growing companies based in the United States and Canada. For more information on Runway Growth Capital LLC and its platform, please visit our website at www.runwaygrowth.com.

Forward-Looking Statements

Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition, or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Runway Growth’s filings with the Securities and Exchange Commission. Runway Growth undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

About Madison Reed

Madison Reed is a hair color company revolutionizing the way women color their hair. The fast-growing disruptor has created a luxurious hair-color formula with a Smart-8 Free formula (free of PPD, ammonia, parabens, resorcinol, phthalates, gluten, SLS and titanium dioxide) that are typically used by other hair color brands. For those who prefer to color their hair at home, Madison Reed uses proprietary color-matching technology and a team of on-call colorists to help women choose the perfect shade of hair color, which is delivered to their door. For those who prefer to have Madison Reed color applied with the help of a professional, there are Madison Reed Hair Color Bars. Products can be found online at www.madison-reed.com and www.ulta.com, or in store at Ulta Beauty and Madison Reed Hair Color Bars.

SOURCE Runway Growth Capital LLC

Funding to advance product development and initiate clinical experience of company’s next-generation technology for transseptal mitral valve replacement

LOS GATOS, Calif., Feb. 9, 2023 — Tioga Cardiovascular, a Shifamed portfolio company that aims to redefine structural heart valve replacement, announced today the first closing of its $30M Series C financing. Led by Cormorant Asset Management, with significant participation from The Capital Partnership, AMED Ventures, the PA MedTech VC Fund, and Shifamed angel investors, the financing will be used to continue product development, support pre-clinical testing, and initiate first-in-human use for the company’s novel transseptal mitral valve replacement (TMVR) technology.

“Transcatheter mitral valve replacement is still in its infancy and is becoming an important therapeutic alternative for our patients with severe mitral regurgitation,” said Azeem Latib MD, Director of Interventional Cardiology, Montefiore Medical Center. “Tioga’s approach has the potential to address significant unmet clinical needs in TMVR, namely smaller delivery system size, transseptal delivery, less left ventricular outflow tract (LVOT) obstruction, and procedural simplicity. I look forward to working with the company as they move into first in human use later this year.”

“Despite innovations in structural heart technologies, advancements in treatment options for mitral regurgitation remain limited and there is a need for a low-profile device that is easier to deliver and does not interfere with the anatomy once implanted. Tioga has developed an elegant, highly differentiated solution for this underserved and growing segment of the structural heart market,” commented Bihua Chen, Founder and Chief Executive Officer, Cormorant Asset Management. “We are pleased to lead this round as we see a significant opportunity to simplify and improve the safety and efficacy of TMVR procedures.”

Mitral valve disease is the largest structural heart valve problem, impacting more than 6.6 million people, approximately four times more common than aortic stenosis.^1,2 Directly tied to heart failure, mitral valve disease can increase cardiac workload and is associated with increased morbidity and mortality. Most patients are often too sick to undergo the surgical approaches available today due to the high risk of complications, leaving many patients undertreated. Similar to the recent adoption for transcatheter aortic valve replacement (TAVR), there is a significant clinical need for less invasive, transcatheter approaches for mitral valve replacement.

“Tioga is committed to providing physicians and patients with a next-generation transcatheter intervention that is less invasive, more adaptable and streamlines procedural workflows,” stated Mike Dineen, President and Chief Executive Officer, Tioga Cardiovascular. “We are proud of the incredible work our team has accomplished and are grateful for the strong, continued support from our investors as we continue to advance our mission.”

About Tioga Cardiovascular, Inc.

Tioga Cardiovascular, a privately held portfolio company of Shifamed LLC, is focused on providing elegant valve replacement solutions for mitral and tricuspid applications that are procedurally simpler and use a less invasive, transcatheter approach.

About Shifamed, LLC.

Founded by serial entrepreneur Amr Salahieh, Shifamed LLC is a highly specialized medical innovation hub focused on developing solutions that accelerate time to market, reduce risk, increase impact, and forge a path toward a world where patients are able to lead longer, healthier lives. To learn more about Shifamed, please visit www.shifamed.com.

MEDIA CONTACT:
Katie Arnold
SPRIG Consulting LLC
+1 (408) 805-0520
[email protected]

¹2018 Edwards Investor Conference: “Transcatheter Aortic Valve Replacement”
²Douedi, S et al. National Library of Medicine. Aug 2022. Based on US population of 331 million in 2021

SOURCE Tioga Cardiovascular, Inc.