Accelerate the overseas expansion of Japanese technology startups and create unicorns from Japan.

TOKYO, Feb. 2, 2023 — Alternative Capital Investment Limited (President & CEO: Reijiro Samura, Headquarters: Chiyoda-ku, Tokyo, hereinafter “AIC”) has made capital commitment to GHOVC Fund I Investment Limited Partnership (“GHOVC Fund I”) that is managed by Global Hands-On VC Kabushiki Kaisha (Managing Partner: Ken Yasunaga, Headquarters: Shibuya-ku, Tokyo, hereinafter “GHOVC”).

AIC is currently launching a “Strategic Investment Program” to invest in unique fund managers that are expected to grow in the future. In order to serve as a bridge between these fund managers and institutional investors, AIC will not only make investment commitments but also support the activities of fund managers so that they can attract funds from institutional investors in the future.

GHOVC invests in Japanese technology startups, helps its invested startups build management and technical talent from a global talent pool, optimize their product-market fit, and raise funds from global VCs and CVCs. For a Japanese startup to maximize its global potential, and thereby reach its best return on investment, it needs to look beyond the domestic Japanese market for customers, talent, and strategic partnerships.

GHOVC Fund I has received approximately 5 billion yen commitment from Sojitz Corporation, Sompo Light Vortex Corporation, and SunBridge Corporation. We will raise money and raise funds.

GHOVC was established by two Japanese and three American partners, who are successful entrepreneurs and fund managers.  The GHOVC team is experienced in founding and managing startups with global product teams and products adopted by global customers. 

Comment from AIC President Reijiro Samura

GHOVC team consists of a veteran venture capitalist who has invested in technology startups in Japan and the United States for many years, a highly successful serial entrepreneur in Silicon Valley, a founding member of Oracle Japan, Salesforce Japan, and the first Japanese venture capitalist in the midas list, and a thought leader in product management who led the development of several products at Microsoft, Google, Director of the US Asia Technology Management Center at Stanford University. I think one of the challenges for the Japanese startup ecosystem is global expansion. For sustainable growth, it is necessary to actively expand overseas and expand the scale of the business. GHOVC is an excellent team that can support Japanese startups in increasing their value through global expansion and hands-on support by leveraging their rich experience. I look forward to working with GHOVC to increase the number of unicorns originating in Japan.

SOURCE Global Hands-On VC

HOUSTON, Feb. 1, 2023 — FibroBiologics, a clinical-stage company focused on the development of fibroblast cell-based therapeutics for chronic diseases, today announced they are the fastest rising biotech offering in StartEngine’s history surpassing $1 million of new investments on the first day of its Reg CF offering. StartEngine is one of the largest equity crowdfunding platforms in the U.S., led by Activision Co-Founder Howard Marks and advised by Kevin O’Leary. StartEngine launched in 2015 with the mission to help entrepreneurs achieve their dream while enabling everyday people to access private investment opportunities. To date, over $650 million* has been raised for startups and alternative assets on the StartEngine platform from more than 1 million users.

“The support we’ve received from StartEngine has been phenomenal,” said FibroBiologics’ Founder and CEO, Pete O’Heeron. “Howard Marks and his team provided us access to a new group of investors and their support is a tribute to the breakthroughs our scientists are developing in the lab. We are focused on creating innovative treatments and cures for patients suffering from chronic diseases through our “next generation” pipeline of cell therapies.”

About FibroBiologics

Based in Houston, FibroBiologics is a cell therapy, regenerative medicine company developing a pipeline of treatments for chronic diseases using fibroblast cells. FibroBiologics holds 150+ US and internationally issued patents/patents pending across various clinical pathways, including disc degeneration, orthopedics, multiple sclerosis, wound healing, reversing organ involution, and cancer. FibroBiologics represents the next generation of medical advancement in cell therapy. For more information, visit www.FibroBiologics.com.

SOURCE FibroBiologics

Easy-to-use software unlocks more efficient home builds, and happier homeowners.

VANCOUVER, Wash., Feb. 1, 2023 — Digs, a software company, has announced today, at the International Builders Show (IBS), the release of its free open beta. Digs’ web-based platform helps builders and suppliers collaborate more efficiently within home construction projects. Digs’ users can store documents, collaborate with stakeholders, and automatically generate digital homeowner handoffs – all in one place.

“Today, it’s easy to lose track of decisions and change orders. Existing software for builders focuses primarily on the builder experience and neglects the homeowner experience,” says Ty Frackiewicz, former home builder and Co-Founder at Digs. “Digs allows builders to provide the best homeowner experience after the home is built.”

Hinton Development advocates for how Digs can help provide a better homeowner experience. “This is a great tool for home builders to collaborate with the homeowner. It keeps all the selections in one place and makes it easy to hand it all over at the end of the build.” Other builders are also embracing Digs and taking advantage of features like storing build documentation, automatic blueprint cropping, and segmentation.

“Digs exists solely to enhance home builders’ and suppliers’/vendors’ existing workflows, not change them. They [builders] are experts at their craft, and we’ve spent a lot of time listening to them and what they want out of software. What we’re releasing today is the result of partnering closely with the builder community.” says Ryan Fink, CEO & Co-Founder at Digs.

Today, Digs also announced that they have raised a seed funding round of just over $7M from Fuse, Flying Fish, Betaworks, Legacy, PSF, and others.

“The home has been left behind while the rest of the world is being digitized. The Digs team came to us with a vision of digitizing and bringing collaboration and automation to the place where people spend most of their time, their digs (homes). That’s a big vision, and one we feel strongly needs to exist in the world.” says Brendan Wales, Founding Partner at Fuse.

Are you a home builder or supplier and want to try Digs for free? Starting today, you can use Digs for free by creating a free account here.

About Digs
Digs mission is to power experiences that unlock happier homes. Digs is a web-based software company that leverages human-centric design and patent-pending artificial intelligence (AI) to make it simple for home builders and suppliers to store documents, collaborate on home builds and generate automatic digital homeowner handoffs. Digs results in more efficient builds and a complete digital understanding [digital twin] of the home for the homeowner that is both usable and shareable.

SOURCE Digs

Leading embedded banking software platform to use capital for multi-bank network expansion, launching marketplace solution, broadening market presence

SAN FRANCISCO, Feb. 1, 2023 — Treasury Prime, a leading embedded banking software platform, today announced it raised $40 million in Series C funding. The round was led by BAM Elevate with investment from The Banc Funds Company and Invicta as well as continued participation from Series B investors Deciens, QED and SaaStr.

With this latest round, Treasury Prime will continue to build out its industry-leading, multi-bank network solution – currently encompassing 16 banks – as well as development of new products and services including lending options and an integrated partner marketplace solution. The company will leverage this investment to elevate its strategy – broadening its offerings to deliver embedded banking services for a full range of enterprise and bank partners, offering continuous value as they scale.

“Embedded banking is remaking and modernizing the financial services industry. It provides banks lower-cost deposits, enhances product offerings and expands their footprint while enterprise clients benefit from increased satisfaction, higher retention and lower cost of capital. This latest round of funding is affirmation that Treasury Prime is in an optimal position to capitalize on this market opportunity and confirmation that we’re delivering value to banks, enterprises and partners alike,” said Chris Dean, co-Founder and CEO of Treasury Prime.

“Treasury Prime’s triple-digit growth this past year is impressive given the broader market environment and its market leadership has continued to expand. We are thrilled to be investing in such a dynamic and forward-thinking company as Treasury Prime that is modernizing American banking and helping enterprise partners innovate and grow,” said Norman Chen, Partner at BAM Elevate.

This latest round comes less than two years after the announcement of the company’s $20 million Series B funding. During that time, the company has experienced an account growth rate of more than 450% and revenue growth of nearly 400% while securing top-tier business relationships including with FIS, Jack Henry and Plaid. The company also landed a number of industry accolades including Tearsheet’s “Best Banking-as-a-Service Platform” for 2021 and 2022. 

For more information about Treasury Prime, visit https://www.treasuryprime.com/.

About Treasury Prime

Treasury Prime is building the future of finance. Leveraging its award-winning APIs and versatile embedded banking products, Treasury Prime enables banks and enterprise partners to innovate, adapt, grow and scale to stay competitive in a rapidly changing marketplace. The company helps enterprises with a range of complex services including money transfer, risk mitigation and access to a chartered bank’s infrastructure. Treasury Prime works with forward-thinking banks to extend their boundaries, helping to grow topline revenue and lower the cost of deposits. Treasury Prime was named Best Banking-as-a-Service Platform in the Tearsheet Embedded Awards 2021 and 2022, and was named to CB Insights’ annual 2021 Fintech 250 list.

SOURCE Treasury Prime

Radar software that is hardware agnostic, increases performance, and runs in the real-world

ORANGE COUNTY, Calif., Feb. 1, 2023 — Spartan, a leading sensor software company, today announced that it closed an initial B round of $17 million, led by 8VC, and joined by Microsoft, Prime Movers Lab, MaC VC, Gaingels, and others. This is proof that great technology and products with clear go-to-market strategies are still attracting investment, despite the strong economic headwinds faced by the start-up community. The funding will help Spartan deliver its flagship product, Ago, to market and build out its product team and Commercial Vehicle Division in Detroit, Michigan. Spartan’s product increases the performance of existing radars, and its presence in Detroit enables a closer relationship with its current Tier 1 and OEM partners who are testing and validating its software.

Spartan’s mission is to enhance safety, reliability, and autonomy through the deployment of its software on every vehicle made. It’s flagship product, Ago, is a software solution that increases driver assistance system performance by improving resolution and range. This translates into better automatic emergency braking performance, reducing false detections, and protecting vulnerable road users (VRUs). Spartan sells into the ADAS and commercial vehicle markets today, unlike other new mobility start-ups that have proven difficult to commercialize due to the moonshot requirements of scaling fully autonomous vehicles.

Spartan’s commercial vehicle product, Hoplo, is powered by Ago software to eliminate blind spots along and behind commercial vehicles. It’s products offer a 360-degree shield of protection for fleets and drivers.

Spartan co-founder and CEO Nathan Mintz said, “Fundraising during these difficult times proved our original thesis—building truly disruptive technology while being laser-focused on the market and our customers’ needs would win the day. Investors responded to our early progress with our customers and provided the funding to transform the global radar market.”

Spartan was built by the same people who spent the last three decades protecting America’s heroes with radar technology. Unlike science projects or R&D adventures, its technology and products have been forged in battle and are ready to disrupt the automotive mobility market.

About Spartan Radar

Spartan Radar is a next-generation automated mobility sensor software provider—with extensive expertise in Radar Digital Signal Processing and antenna design. Spartan’s flagship software package called “Ago” is mainly used to increase the performance of existing radar designs in a computationally efficient manner. For more information, please visit www.spartanradar.com and follow Spartan on LinkedIn.

SOURCE Spartan Radar

Ingredient biotech startup Michroma is on track to expand and scale fungal food colors platform.

SAN FRANCISCO, Feb. 1, 2023 — Michroma, a leading precision fermentation food ingredient company, today announced it has closed $6.4 million in seed financing. The round will fast-track the company’s commercialization of sustainable natural colorants, expand research and development capabilities, and broaden Michroma’s ingredient platform. The company removes petroleum – the base ingredient in mainstream colorants – from the food ingredient value chain.

The $6.4m round was led by Supply Change Capital, a food tech VC backed by 301 INC, the corporate venture capital arm of General Mills. New investors include Be8 Ventures, which is backed by Dr. Oetker, a global food company based in over 40 countries; and CJ CheilJedang, a $23 billion Korean conglomerate that is the world’s leading supplier of fermentation-based bio-products.

“We see compelling market and consumer potential for Michroma’s fungal platform to create next-generation natural ingredients, from colorants to flavors, that are healthier and more sustainable while maximizing production efficiency. We are excited by the speed and skill with which they are building out their capabilities. Even more so, in light of the current disruption of supply chains globally, we believe Michroma is laying the foundation for the sustainable ingredients of the future,” said Noramay Cadena, Supply Change Capital’s Managing Director and Michroma Board Member.

“We are poised to meet consumer demand for healthier and more sustainable food without petroleum-based ingredients,” said Michroma’s CEO and Co-founder, Ricky Cassini. “Unlike the current generation of unstable natural options, like betalains, carminic acid, and anthocyanins, Michroma is producing better-performing natural colorants powered by fungi. This next stage of our development will help us industrialize our fungal platform and enable the world’s transition to natural colors.”

Michroma’s novel approach centers on creating fungal biofactories to produce small molecules, like colors, more efficiently. “We are leveraging the power and versatility of filamentous fungi with our synbio platform. By combining a unique fungal chassis strain with precision fermentation, we are capable of producing high-value complex molecules with high yields previously unseen in the biotech industry,” said Michroma’s CSO and Co-Founder, Dr. Mauricio Braia.

Founded in 2019, Michroma pioneered the movement toward a disruptive advance in the ingredients industry with high-performance colorants made from fungi using precision fermentation. Fueled by the increasing market demand for healthier and more sustainable ingredients, Michroma started by developing a novel red colorant called Red+, which is temperature-resistant and stable across the entire food pH spectrum. These characteristics allow colors to survive processes like pasteurization, cooking, and extrusion, which are among the most intensive processes for natural dyes. The company’s product pipeline starts with warm colors, which comprise 90% of the food market, and goes beyond to include other colors and novel flavors that will be sold in combination, allowing for integrated solutions for companies.

The $2.6B food colorants market continues to trend toward natural ingredients. According to a poll, 92% of people are concerned about artificial colors and large food manufacturers (BurgerKing, Nestle, Kraft, Mars, General Mills, etc.) are transitioning away from artificial colors to meet health-conscious consumers’ demand for natural ingredient alternatives. Leading research underscores the detrimental effects of artificial colorant consumption, with the Office of Environmental Health Hazard Assessment (OEHHA) concluding in 2021 that artificial food dyes impact neurobehavior in some children. More recently the U.S. Food and Drug Administration (FDA) received a petition from The Center for Science in the Public Interest and 23 other organizations and prominent scientists to ban the use of Red No. 3 colorant in food.

New investors in Michroma include FEN Ventures, Boro Capital, The Mills Fabrica, Portfolia’s Food & Ag Tech Fund, New Luna Ventures, Siddhi Capital, Groundswell Ventures, and HackCapital; and Angels investors Allen Miner, Jun Ueki and Steve Zurcher from the Keiretsu Japan Forum, Guillermo Rosental, Franco Goytia, Pablo Pla and Mat Travizano. Existing investors participating in the round are SOSV’s IndieBio and GRIDX.

Following prototyping with some of the world’s largest food companies, Michroma is negotiating agreements for Red+ with ingredients suppliers for global distribution and will submit color additive petitions to the FDA and EFSA as the company continues its path to scale.

About Michroma

Next-gen ingredients made by fungi — Michroma is a foodtech startup revolutionizing the way ingredients are produced by developing fungal-based biofactories to produce natural ingredients in a sustainable, scalable, and cost-effective way. Produced using synbio and precision fermentation, Michroma’s first product is a high-performance natural red colorant well suited for all diets and food applications with supreme pH and thermal stability that had been selected as the “Most Innovative Ingredient for Food or Beverage 2020” by Fi Global. By leveraging the power of our fungal biofactories, Michroma is producing additional high-value-added ingredients such as flavors and fragrances in a sustainable and cost-efficient way to replace petroleum-based ingredients, which are harmful to humans and the planet’s health. For more information, please visit www.michroma.co

About Supply Change Capital

Supply Change Capital invests in the future of food. With a lens for culture and climate, they focus on early stage technology companies across the supply chain that are responding to the seismic shift in the $6 trillion food industry. Their portfolio of 13 companies spans regenerative agriculture, alternative proteins, ingredient technology, food safety, and culture-first brands. Founding General Partners Noramay Cadena and Shayna Harris met at MIT Sloan in 2009, each bring over 20 years of operational experience in public and private markets, and have over 75 investments between them. They support founders post-investment via their signature Supercharge III program which helps elevate individual and organizational awareness for more effective leadership in fast-growing organizations. Learn more at www.supplychange.fund, and on Twitter (@supplychangecap) and Instagram (@supplychangecapital).

SOURCE Michroma

Meadow helps universities improve enrollment, retention, and payment outcomes by clarifying and simplifying the end-to-end financial experience for students, addressing the US higher education crisis.

Meadow today announced a $3.5M seed round to build a modern student financial services platform for universities that combines billing, payments, and financial engagement into a streamlined and consumer-friendly experience for students.

The financing was led by Susa Ventures, with participation from prior backers Giant Ventures along with new investors AlleyCorp and Daniel Gulati’s Treble Capital. Leading angel investors also include Block Renovation co-founder Koda Wang; Monzo founder Tom Blomfield; Finix founder Richie Serna; and former Head of Product at Braintree and Head of Payments at Intuit Abhi Ranadive.

The number of students earning college degrees in the US has been declining for the past decade and financial barriers are the number one reason. These barriers go beyond the cost alone: for students and families, the financial experience is as complicated as it is expensive.

Students now juggle up to 20 different sources of funding, leading to confusion and frustration about what, when, and how to pay for college. Meanwhile, university student financial services offices need to manage nearly 1000 students per staff member on average, relying heavily on manual processes.

Problems faced by students create problems for universities. With student tuition and fees as a primary source of revenue, many universities are under significant financial stress and forced into punitive collection tactics to recover millions of late and unpaid balances each year.

Meadow tackles the dual complexities of the tuition payment process for students and accounts receivables for universities, starting by bringing greater price transparency at the moment of application.

Meadow’s first product, Meadow Price, helps universities meet federal compliance requirements, elevate financial clarity, and eliminate sticker shock by providing students with an easy way to get accurate and straightforward cost estimates that include any financial aid they are eligible to receive.

Since launching in Spring 2022, Meadow has grown to over a dozen college and university partners of all sizes, including UT Austin, American University, and Northern Arizona University. Meadow has already delivered personalized price estimates to more than 10,000 students nationwide. On average, students uncover a 30% discount from the sticker price listed on the university website to the net price estimated through Meadow.

“Without Meadow, students have no way of knowing how much they’re actually going to end up paying unless they’re willing to engage with us directly,” said Christy Miller, Director of Financial Aid at Wayland Baptist University. “Cost is the most important factor for students deciding if and where to enroll, so providing financial clarity from application through graduation is critical not only for us at Wayland, but also for the industry as a whole.”

Meadow CEO and co-founder Alfredo I. Brillembourg commented: “Higher education is the number one pathway to economic mobility in America. But with limited access to planning and financial resources and the need to juggle loans, billing, paper trails, payments, third-parties, and support, the finances of education can overshadow the learning itself. Universities need to worry about recouping money and students are hurt in the process. We founded Meadow to help everyone focus on what’s important: the education.”

About Meadow

Meadow powers modern student financial services for universities that clarify and simplify the financial experience for students to improve economic mobility in the US through higher education.

At a time when consumer-friendly, digital-first experiences are more critical than ever in higher education, Meadow is solving many of the fundamental problems that lead to poor student financial experiences and administrative waste — radically transforming the higher education financial experience for everyone. Meadow’s mission is to empower students financially and improve economic mobility through higher education. Through Meadow, universities and their students manage the end-to-end financial experience together, from application to graduation.

The company was founded in 2021 by recent graduates from Columbia University as well as second-time founders who have worked at AmEx, Klarna, Outschool and Amazon.

www.meadowfi.com

SOURCE Meadow

Boston-Based Pharmaceutical Company Brings Total Financing to More Than $40 Million since 2022 Launch

Dr. Susan K. Whoriskey, Ph.D., to Join the Company’s Board of Directors as Strategic Advisor

BOSTON, Feb. 1, 2023 — Ratio Therapeutics Inc., a pharmaceutical company specializing in the development of targeted radiotherapeutics for the treatment of cancer, announces the close of its Series A financing extension today, bringing the total raised to date to over $40 million. The latest round was led by Duquesne Capital and Schusterman Family Investments, with Kenan Turnacioglu, Ph.D., General Partner at Catalio Capital Management representing them and joining as an executive advisor, along with continued significant participation from existing investor base.

The proceeds will be used to optimize and expand the breadth of the company’s proprietary Trillium™ and Macropa™ technology platforms, accelerate the discovery and development of targeted radiotherapies and diagnostics leveraging the platforms’ tunable nature to advance programs through clinical-stage development as well as expand the team through hiring and forming new strategic partnerships.

Founded by entrepreneurial scientists Jack Hoppin, Ph.D., and John Babich, Ph.D., Ratio emerged in June of 2022 with over $20 million in seed financing while engaged in fully funded development alliances with Bayer and Lantheus Holdings Inc. Since then, the company has progressed its collaboration programs, established additional internal discovery and preclinical programs, implemented a comprehensive intellectual property strategy in targeted radiotherapies and diagnostics and filed numerous patent applications.

“We are grateful for the support and honored by the confidence of our investors, who have witnessed our tremendous progress in the past year and recognize the potential of our technology and the strength of our team,” commented Dr. Hoppin, Ratio’s Chairman and Chief Executive Officer. “This financing extends our cash runway into 2024 and will allow us to continue making progress toward our milestones. We look forward to working closely with our shareholders as we continue to advance our R&D platforms and bring innovative treatments to address the unmet needs of patients as quickly as possible.”

Ratio also welcomes Susan K. Whoriskey, Ph.D., to its board of directors as a strategic advisor who will work closely with the executive team at Ratio to implement strategies for translating scientific advancements into approved therapies. Dr. Whoriskey is a seasoned executive with 30 years of experience in the biotechnology and pharmaceuticals sectors and has sequentially been part of the Founding Executive Team for four successful biotechnology companies: Vera Therapeutics, Moderna, Momenta Pharmaceuticals and Cubist Pharmaceuticals.

Dr. Whoriskey’s expertise lies at the interface of integrating research, intellectual property and corporate development. Throughout her career, she has focused on pioneering new technologies and clinical candidates to address unmet needs in the healthcare industry. She has been involved in 5 FDA drug approvals.

“Both the financing round and Susan’s addition to our board of directors are a testament to the value of Ratio’s pipeline and the science behind our technology. We warmly welcome her!” said Dr. Babich, Ratio’s President and Chief Scientific Officer. “Susan’s expertise in working with teams to advance scientific discoveries from the lab bench to the market with several top biotech companies has already been invaluable and will continue to be as we advance our R&D platforms, pipeline and grow as a company in the emerging field of radiopharmaceuticals to address the unmet needs in solid tumors.”

About Trillium™ and Macropa™

Ratio Therapeutics’ fully integrated proprietary R&D platforms, Trillium™ and Macropa™, harness the tumor-killing power of alpha particles. The tunable nature of the platforms enables the efficient and timely development of numerous novel radiopharmaceuticals for a broad range of high unmet need in solid tumors, while addressing the trifecta of typical challenges seen with most radiopharmaceuticals: delivery, safety and efficacy. Trillium™ is a pharmacokinetic modulation platform that can be altered to bind to any antigen-specific target, while Macropa™ is a best-in-class Actinium-225 chelator. The combination of these platforms enables the tumor-killing power of alpha particles with potential for first- and best-in-class radiopharmaceuticals.

About Ratio Therapeutics

Ratio Therapeutics Inc. is a Boston-based pharmaceutical company with the mission to accelerate the development of next-generation precision radiopharmaceuticals for solid tumors and transform oncology treatment paradigms. Founded by John Babich, Ph.D., and Jack Hoppin, Ph.D., the company currently employs a growing team of radiopharmaceuticals discovery and development experts with backgrounds in the life science industry. Ratio’s proprietary R&D platforms, Trillium™ and Macropa™, enable the imaging, discovery, and advancement of novel radiopharmaceuticals. Built to be the radiopharmaceuticals discovery and development partner of choice, Ratio currently collaborates with Bayer and Lantheus.  

Please visit www.ratiotx.com for more information and follow us on Twitter and LinkedIn.

Media Contacts:
Erica Fiorini, Ph.D.,
Russo Partners, LLC
[email protected]
+1 (914) 310-8172

SOURCE Ratio Therapeutics Inc.

MENLO PARK, Calif., Feb. 1, 2023 — Patient Square Capital (“Patient Square”), a leading health care investment firm, announced today that it closed its inaugural fund with approximately $3.9 billion in total capital commitments. Patient Square Equity Partners (the “Fund”) surpassed its $3 billion target and is both the largest first-time private equity fund ever raised and the largest fund ever raised by a dedicated health-care-focused private equity, growth equity, or venture capital firm. Patient Square’s total assets under management (“AUM”) is approximately $5.9 billion, including significant co-investment commitments from leading institutional investors.

Patient Square invests broadly across the health care industry, including development-stage therapeutics; commercial-stage pharmaceuticals; medical devices, diagnostics, and life science tools; health care providers; and technology-enabled and other services. Patient Square partners with best-in-class management teams to invest in businesses that strive to improve patient lives, strengthen communities, and create a healthier world.

“Earlier in my career, mentors of mine would advise that the work starts when a transaction closes. Never has that felt more apt than right now with our fund closing,” said Mr. Momtazee, Managing Partner of Patient Square. “We have a tremendous amount of work in front of us, but without those that committed to our fund, there would not have been a beginning. We have deep gratitude for the opportunity and are working hard to reward that trust.”

Since June of 2021, Patient Square has deployed approximately $3 billion in equity capital, including significant co-investment commitments. The Fund’s portfolio companies include Access Telecare, Apollo Therapeutics, Eargo, Enavate Sciences, Hanger Inc., Kriya Therapeutics, Radius Health, Resolve Biosciences, and Summit BHC.

“We are thrilled to have strong support from wonderful partners around the globe. We feel fortunate, especially in light of such a challenging fundraising environment,” said Jake Cabala, Partner and Head of Fund Partnerships at Patient Square. “Our approach to creating value and serving patients really seemed to resonate.”

Commitments to the Fund were secured from a diverse and global set of institutional investors, including leading sovereign wealth funds, pension funds, endowments, foundations, family offices, health systems, consultants, private wealth platforms, and insurance companies.  

PJT Park Hill served as the exclusive placement agent, subject to certain exclusions; Kirkland & Ellis served as legal counsel.

About Patient Square Capital

Patient Square Capital (www.patientsquarecapital.com) is a dedicated health care investment firm that partners with best-in-class management teams whose products, services and technologies improve health. Patient Square utilizes deep industry expertise, a broad network of relationships and a true partnership approach to make investments in companies grow and thrive. Patient Square invests in businesses that strive to improve patient lives, strengthen communities, and create a healthier world. Patient Square’s team of industry-leading executives is differentiated by the depth of focus in health care, the breadth of health care investing experience, and the network it can activate to drive differentiated outcomes.

Media Contact:
Zach Kouwe/Doug Allen
Dukas Linden Public Relations
212-704-7385
[email protected], [email protected]

SOURCE Patient Square Capital