New Capital will Enable the Company to Accelerate Growth of Land under Green Energy Projects

NEW YORK, Aug. 10, 2023 — Renewa, a leading land and infrastructure investor in the renewable energy industry, today announced that it has secured $450 million (US) of committed capital, led by QIC, a leading institutional investment manager and advisor. The new capital will enable the company to further its mission to help advance the transition to renewable energy in the United States.  

Renewa, which owns one of the largest independent portfolios of land under clean energy projects in the U.S., provides flexible, long-term capital and other specialized financial solutions to landowners and renewable energy project developers through the acquisition of land and associated rental payments from utility-scale wind, solar, storage, and other critical infrastructure projects. 

With a presence in more than 30 gigawatts of projects, Renewa has one of the most diversified land exposures to U.S. renewable energy.

“The transition to renewable energy takes innovation, financial commitment, policy leadership and arguably the most critical element – land,” said Stephen Lee, Renewa Co-Founder and Co-CEO.  “The support and backing from QIC is a significant step forward – one that will allow Renewa to continue to make bold commitments and consistently deliver on our promises to landowners and project developers.”

Estimates indicate that there will be more than 250 million acres of land needed to house solar, wind, and energy storage facilities in order to achieve U.S. net-zero commitments. This is up from about 81 million acres needed just a few short years ago. 

“There can be no wind or solar project without suitable land to house it,” added Gage Mooring, Renewa Co-Founder and CO-CEO. “Renewa is able to play a vital role to help accelerate the development of renewable energy assets by providing real, financial solutions to developers, landowners, investors and families across the U.S.” 

Projects on Renewa’s ground lease assets are expected to reduce carbon dioxide emissions in the U.S. by approximately 5 million tons in 2023 – the equivalent of taking approximately 1 million passenger cars off U.S. roads. 

In addition to the committed funding, QIC has appointed energy industry veterans Mark Noyes, Peter Tumminello and Natalie Jackson as independent directors for the company. Their appointments bring extensive expertise to the Renewa team in developing, operating and financing energy projects. Mr. Noyes is CEO of RWE Clean Energy, one of the largest renewable energy companies in the U.S., and formerly served as CEO of Con Edison’s Clean Energy Business. Natalie Jackson, an energy executive with a significant track-record of executing and structuring complex financing transactions, is Chief of Capital Markets and Structuring at TES. Previously, she was Senior Vice President, Head of Capital Markets & Portfolio Finance for Clearway Energy Group. Peter Tumminello, a highly knowledgeable board director, served as Group President of Commercial Businesses for Southern Company Gas (formerly AGL Resources) where he was responsible for operations outside of the regulated entities.

Renewa owns land and ground leases under more than 130 renewable energy facilities across the U.S., acquiring land under projects operated by more than 50 developers, including Acciona, Duke Energy, Enel, Leeward Energy, Lightsource bp, and NextEra Energy, in 26 states.

About Renewa
Renewa is a renewable energy land financing company providing financing solutions to landowners and renewable energy project developers through the acquisition of leasehold interests, land, rental streams and royalty incomes. Renewa is backed by QIC, channeling long-term capital to fund renewable energy projects with local partners and landowners. 

For more information, please visit: www.renewa.com.

Media Contact

Julie Nicholson
860.430.2228
[email protected]

SOURCE Renewa

Led By CAVU Consumer Partners, Funding Will Be Invested Directly Into Accelerating Innovation in Industry-Changing Pet Supplements & Continuing to Expand Retail Footprint

ST. LOUIS, Aug. 10, 2023 — Since launching in 2017, Native Pet, a leading clean label ingredient pet supplement company, has been committed to helping four-legged friends live happier, healthier lives. That mission has been bolstered considerably with the closing of $11 million in Series B funding led by CAVU Consumer Partners. It’s the latest milestone in Native Pet’s rapid growth as the leader in the fast-evolving pet supplement category.

“As of 2023, 50% of U.S. households have a dog* and that number continues to rapidly grow. At the same time, Dog Parents are waking up to the limitations of a kibble only diet,” said Dan Schaefer, CEO and Co-Founder of Native Pet. “Consumer feeding habits are evolving. More than ever, the consumer is adding supplements to their dog’s bowl to customize their diet and use it as an opportunity to drive health outcomes.”

Native Pet is bringing a refreshing mindset to the pet supplements category. Their approach to product development bridges the gap between nutraceutical supplements and the popular demand for clean label, functional nutrition solutions for dogs. Consumers are more regularly reaching for products that utilize whole food ingredients that they recognize and trust. Native Pet has revolved their product R&D around the use of these functional whole foods as active ingredients (such as pumpkin, bone broth, and real chicken protein) that are research-backed for improving the health and wellness of our pets. This innovative approach has led to category-leading efficacy, while also delivering tasty products that dogs love. Conscious pet parents also love that Native Pet’s supplements are formulated alongside Board Certified Vet Nutritionists, PHDa food scientists, and of course—a large number of doggy taste testers that really put the products to the test. The team is driven by their “Native Pet Pact” which encapsulates the company’s commitment to making the highest-quality products in pet nutrition, period.

“The next evolution in the ‘humanization of pets’ is pet wellness. Today’s pet parents are increasingly looking beyond the bowl to improve their pet’s health and well-being,” said Jared Jacobs, Partner at CAVU Consumer Partners and Native Pet Board Member. “Native Pet is at the forefront of this emerging but rapidly growing pet nutrition category, and we are proud to partner with Dan, Pat and the Native Pet team as they aim to build the category defining brand in pet wellness.”

With this funding, Native Pet will accelerate its continued growth through category innovations and retail expansion. Native Pet’s strategy remains simple: invent functional products that add targeted nutrition to our pets’ daily routine with effective results, clean ingredients and truly great taste.

Native Pet is available for purchase at Amazon, Chewy, Thrive Market, CVS , Target and on their website: https://nativepet.com. For more information, visit nativepet.com or @nativepet on Instagram and TikTok.

*American Pet Products Association (2023-2024)

About Native Pet
Native Pet is committed to developing proprietary formulas and formats, offering only the best, most innovative supplements to directly benefit the health of pets. In an industry that has never prioritized the health of our pets, Native Pet is redefining the bar by living up to The Native Pet Pact, the brand’s unwavering commitment to making a real difference in pets’ health.

MediaContact
[email protected]

SOURCE Native Pet

Strategic investment will fuel the development of JUDI^® – the new platform standard for claims processing – and overall growth of full-service customer solutions

NEW YORK, Aug. 10, 2023 — Capital Rx, the health technology company changing the way prescription drugs are priced and patients are cared for in America, has received a strategic investment from Memorial Hermann Health System, a non-profit health system committed to creating healthier Houston communities. Memorial Hermann joins Capital Rx’s existing investors in supporting the development of JUDI^®, the new standard for backend claims processing platforms in the pharmacy benefit management (PBM) industry, and the overall growth of Capital Rx’s full-service PBM and pharmacy benefit administration (PBA) platform as a service (PaaS) solution.

“We’re thrilled to have the investment support of Memorial Hermann as we work to modernize this country’s claims processing infrastructure and deploy our aligned customer model to more employers, unions, municipalities, and other payers to create enduring change,” said AJ Loiacono, Co-Founder & CEO of Capital Rx. “It’s especially rewarding because we share the same values and prioritize community, compassion, credibility, and having the courage to be innovative in everything we do.”

Capital Rx’s JUDI brings exponential operational efficiency and control to Medicare, Medicaid, and commercial plans and prescription claims processing. A modern, open, and scalable platform, JUDI allows for seamless communication and data integration between vendors and across the continuum of care. Importantly, its intuitive design and workflows save time, allowing health systems and other payers to allocate resources more efficiently and toward what matters most: caring for patients and members in the communities and populations they serve.

“As we assessed the health care ecosystem for innovative capabilities to help accelerate the evolution of the pharmacy service model and prescription claims processing, Capital Rx’s vision for a framework that prioritizes efficiency and allows for exceptional patient care set the company apart for investment consideration,” said Feby Abraham, Ph.D., Executive Vice President and Chief Strategy Officer at Memorial Hermann. “Capital Rx’s platform is focused on bringing clarity and consistency to drug prices, broadening access to medication, and helping its clients control pharmacy costs, all without sacrificing member service and patient outcomes.”

The Health Management Academy‘s Strategic Partnership Alliance, which explores new venture and investment opportunities on behalf of a group of the country’s largest health systems, identified Capital Rx as a mission-aligned disruptor with next-generation technology for its members, including Memorial Hermann.

To learn more about Capital Rx’s pharmacy benefit administration capabilities and JUDI, please visit: Capital Rx – JUDI^®

About Memorial Hermann Health System
Charting a better future. A future that’s built upon the HEALTH of our community. This is the driving force for Memorial Hermann, redefining health care for the individuals and many diverse populations we serve. Our 6,700 affiliated physicians and 32,000 employees practice the highest standards of safe, evidence-based, quality care to provide a personalized and outcome-oriented experience across our more than 260 care delivery sites. As one of the largest not-for-profit health systems in Southeast Texas, Memorial Hermann has an award-winning and nationally acclaimed Accountable Care Organization, 17* hospitals, and numerous specialty programs and services conveniently located throughout the Greater Houston area. Memorial Hermann-Texas Medical Center is one of the nation’s busiest Level I trauma centers and serves as the primary teaching hospital for McGovern Medical School at UTHealth. For more than 115 years, our focus has been the best interest of our community, contributing nearly $500 million annually through school-based health centers and other community benefit programs. Now and for generations to come, the health of our community will be at the center of what we do – charting a better future for all. To learn more, visit: https://memorialhermann.org/

*Memorial Hermann Health System owns and operates 14 hospitals and has joint ventures with three other hospital facilities, including Memorial Hermann Surgical Hospital First Colony, Memorial Hermann Surgical Hospital Kingwood, and Memorial Hermann Rehabilitation Hospital-Katy.

About Capital Rx
Capital Rx is a healthcare technology company changing the way prescription drugs are priced and patients are cared for in America. As a Certified B Corp™, Capital Rx is executing its mission through an efficient Single-Ledger Model™ that increases visibility and reduces variability in drug prices. The company’s cloud-native enterprise pharmacy platform, JUDI^®, connects every aspect of the pharmacy ecosystem, servicing over 2.4 million members for Medicare, Medicaid, and commercial plans. Together with its clients, Capital Rx is reimagining the administration of pharmacy benefits and rebuilding trust in healthcare. To learn more, visit capitalrx.com. 

Media Contacts
Michael Passanante, Vice President, Marketing
Justin Venneri, Content & Communications Strategy Lead
[email protected]

SOURCE Capital Rx

Franchisor and Multi-Unit-Focused Firm’s Fund was Oversubscribed in Five Months and Now Has Over $1 Billion of Assets Under Management

PRINCETON, N.J. and DALLAS, Aug. 10, 2023 — Princeton Equity Group, LLC, a Princeton and Dallas-based private equity firm focused on control investments in franchisor and multi-unit companies, today announced the final closing of its Princeton Equity Partners II, L.P. with $575 million in total commitments, surpassing its $475 million target and hitting its hard cap. 

Raised over a period of approximately five months, the Fund was significantly oversubscribed with commitments from U.S. and non-U.S. investors, including endowments, foundations, fund of funds, sovereign wealth funds, family offices, insurance companies, and asset managers. Princeton’s first fund has $352 million in total commitments and held its final close in June of 2021. 

Princeton is led by Co-founders and Managing Partners, Jim Waskovich and Doug Kennealey. The Fund seeks partnerships with founders and management teams of leading franchisor and multi-unit companies across a variety of end markets.

Kirkland & Ellis LLP served as legal counsel, and Aviditi Advisors served as exclusive placement agent and advisor for the Fund.

About Princeton Equity Group
Princeton Equity Group is a highly experienced franchisor and multi-unit investor and exclusively invests in leading franchisor and multi-unit companies.  Princeton views each investment as a long-term, supportive business partnership with founders and management teams to help build companies of great value.  For more information, visit www.princetonequity.com.

MEDIA CONTACT: Conner Gossel, Fishman Public Relations, [email protected] or (937) 545-9812

SOURCE Princeton Equity Group

Smith Point Capital leads investment round to accelerate growth in strategic enterprise markets

PASADENA, Calif., Aug. 10, 2023 — Virtualitics, Inc., an artificial intelligence and data exploration company, today announced that it has raised $37 million in a Series C financing round led by Smith Point Capital, LLC with participation from Citi and advisory clients of The Hillman Company, among other investors.

Virtualitics is revolutionizing and shaping the artificial intelligence and data exploration industry with its groundbreaking technology, Intelligent Exploration. Virtualitics’ sophisticated AI-powered analytical capabilities empower data scientists and business users to make informed strategic decisions at an accelerated pace. The Intelligent Exploration platform’s advanced AI technology allows users to make queries in natural language, explore extremely complex datasets, uncover critical insights, and generate multi-dimensional network graph visualizations. Its patented VR/AR capabilities also enable real-time collaboration across multiple users and locations.

The new investment comes at a time of rapid growth and accelerating momentum for Virtualitics, including significant growth in both its public sector and key commercial segments. Bolstering their momentum over the last 12 months, Virtualitics has successfully acquired seven new customers across the Department of Defense and increased customer acquisition in the Financial Services and CPG markets.

“We knew we wanted a strategic relationship with our lead investor, not merely capital,” said Michael Amori, CEO and co-founder of Virtualitics. “Smith Point’s operational expertise in enterprise software has been – and will continue to be – invaluable as we accelerate growth and innovation. This additional funding and strategic guidance will enable Virtualitics to realize our vision to empower organizations to solve complex, mission-critical problems with artificial intelligence, data exploration and prescriptive business workflows.”

“The advanced AI and machine learning capabilities behind the Intelligent Exploration platform are completely revolutionizing the way organizations leverage their data,” said Keith Block, CEO and co-founder of Smith Point Capital. “Virtualitics enables deeper data access through an intuitive platform, opening up entirely new methods to explore complex datasets. Michael and his team are exactly the kind of visionary leaders building the type of businesses that our firm was set up to invest in and help scale. Virtualitics is on a rapid growth trajectory and Smith Point will accelerate their financial and market success with our operational expertise and rigor.”

This announcement comes on the heels of a number of recent key milestone achievements for Virtualitics, including:

• New and expanded partnerships with industry leaders: Data cloud company Snowflake, partnered with Virtualitics to place the power of intelligent exploration into the hands of their joint customers, allowing them to use AI to identify hidden connections in their data and explore insights in immersive, rich 3D visuals directly from Snowflake’s single, integrated platform. 
• Strategic investment from Citi: In May 2023, Virtualitics announced a strategic investment from the preeminent financial services institution to fund the acceleration of the expansion of its AI platform, adding more out-of-the-box machine learning and data analytics capabilities for exploring and analyzing data for financial services.
• Award-winning AI: Virtualitics was named to Fast Company’s World’s Most Innovative Companies list for 2023, alongside other global leaders such as OpenAI and Microsoft, for its world-class AI solutions and for turning data relationships into vivid 3D visuals. Additional honors received by Virtualitics include a 2023 Artificial Intelligence Excellence Award from the Business Intelligence Group, which recognizes the organizations, products and people who bring artificial intelligence to life and apply it to solve real-world problems. Virtualitics was also named one of the best Los Angeles startups to work for on Built In’s 2023 Best Places to Work List and one of three companies named to Gartner’s 2022 Cool Vendor in Analytics and Data Science report.
• Patented Technology: Led by Dr. Ciro Donalek, CTO and Co-Founder of Virtualitics, the company has recently achieved two significant patent updates. The first patent covers a proprietary 3D network graph algorithm that derives groundbreaking visualizations from tabular data. The second patent focuses on native 3D data visualization, redefining the way data is perceived and analyzed. With these additions, Virtualitics’ portfolio now boasts five patents, showcasing their leadership in the domains of 3D visualization, virtual collaboration, AI-guided exploration, and network graphs.

With this funding round, Virtualitics will continue to invest in growth and innovation to drive even greater expansion, including direct and ecosystem investments and investments to enhance its AI platform leadership by adding more machine learning and data analytics capabilities as well as self-serve prescriptive workflows to make it easy for customers to analyze and understand complex data and transform their business.

About Virtualitics

Virtualitics is pioneering Intelligent Data Exploration, delivering out-of-the-box artificial intelligence capabilities that make advanced analytics possible for more people and organizations. The Virtualitics AI Platform automatically discovers hidden patterns in complex, multi-dimensional data, delivering rich 3D visuals and immersive experiences that guide more informed decisions. Virtualitics helps public and private sector organizations gain real value from all of their data, accelerating their AI initiatives. The company’s patented technology is based on more than 10 years of research at the California Institute of Technology. For more, http://www.virtualitics.com.

About Smith Point Capital

Smith Point Capital was founded by leading enterprise technology operators and investors. The firm has a highly differentiated investment strategy; namely, identifying and collaborating closely with the most innovative enterprise software companies to implement proven, best-in-class revenue growth, innovation and operational strategies to dramatically accelerate financial and market success.

SOURCE Virtualitics

LONDON and ALISO VIEJO, Calif., Aug, 10, 2023 — Homely, the free-to-access digital platform which aims to create a fairer property market for homebuyers and renters, has received its first strategic pre-seed investment, at a valuation in the double-digit millions, from UST, a leading digital transformation solutions company.

Founded in 2021, Homely harnesses technology and partnerships to support people’s homeownership journey by improving their financial position and connecting them to tailored guidance, support, and products.

Homely partners with landlords, renters, and financial institutions to increase transparency and accountability during the rental and buying process, as well as providing incentives and rewards through its brand partners.

The funding will help Homely complete the development of its tech platform and launch its innovative proposition to the market, including activating a number of partnerships with established and trusted brands. This includes the likes of insurance giant Aviva, with both parties currently exploring a partnership.

Homely’s launch proposition includes a new way of buying property that allows immediate access to the housing ladder via Homely Flexible Ownership products which connect prospective homeowners to flexible, institutional, capital.

As a leading global provider of technology and digital transformation services, UST has an established track record of investing in innovative businesses across a broad range of market sectors. UST has helped guide digital transformation journeys for prominent companies including Fortune 500 and Global 2000 clients across financial services, healthcare, manufacturing, retail, semiconductor, and technology.

UST will be an integral strategic partner for Homely as the team navigates the UK property market and delivers innovative solutions for renters and homeowners.

Homely benefits from an experienced senior leadership team made up of:

• Lewis Scott, Founder and CEO – Lewis is also VP & Managing Director of Scott Brothers Group, where he has worked with global technology and lower-to-mid-market growth companies on M&A, capital raising, secondary share sales and corporate development.
• Steven Ward, Chief investment Officer – Steven was previously the CEO of HSBC Alternative investment Limited.
• Paul Birkin, Chief Technology Officer – Paul is the former CTO of Global Workplace Solutions at CBRE and former CIO of Experian EMEA.
• Ellis Scott, Head of Mortgages – Ellis is a qualified mortgage adviser and is also Head Mortgage and Protection Adviser at Scottsdale Lifetime Partners.

As well as the core day-to-day team, Homely also has support from a number of advisors with a wealth of industry and business expertise, putting Homely in a strong position to navigate current market challenges and provide industry leading technology solutions.   

Lewis Scott, Chief Executive Officer, Homely, said, “UST’s renowned presence as leading providers of digital technology and transformation services, and the depth of knowledge of its experts, aligns particularly well with Homely. As a business we want to offer innovative, data-led solutions to the current issues facing the property market.”

“At such a crucial moment for the property market, this first round capital raise will allow Homely to help more people on their journey to homeownership. When it feels like buying a home, or qualifying for a mortgage, is moving further and further out of reach, Homely is committed to providing innovative solutions, underpinned by technology.” 

“As we expand and evolve moving forward, there will be further opportunities on the horizon for investors to work with us and be part of an important journey to help more people become HomeReady. We look forward to working closely with UST and driving forward better outcomes for the UK property market.”

Praveen Prabhakaran, Chief Delivery Officer, UST, said, “We are pleased to join forces with Homely, a truly innovative brand that is using technology to offer modern solutions to longstanding problems within the UK property market. This is truly aligned to our core mission of Transforming Lives and we look forward to playing a significant role in enriching and enabling the homeownership journey.”

Homely’s digital platform will be live and available for consumers to access by the end of 2023.

About Homely

Founded in 2021, Homely is a free-to-access digital platform which leverages technology and partnerships to help homebuyers and renters to find a home.

Whether you are searching for a rental property or setting out to buy your first home, Homely enhances opportunities and empowers each individual to embark on their journey to home ownership.

Homely believes in making the path to homeownership more accessible and is working with individuals to make this a reality. Homely partners with landlords, renters, and financial institutions to increase transparency and accountability during the rental and buying process as well as provide rewards and incentives through its brand partners.

Bold change requires bold action, enter: Homely.

The Homely offering:

• Rental Journey Progress Feature: Helping renters to track their progress while renting towards home ownership. From pre-renters and students to room renters, low-end rental, mid-end rental and high-end rental, Homely wants to be with you on the journey all the way
• Reporting maintenance issues: The Homely platform allows renters to quickly report any issues with a property directly to the landlord in order for improvements to be made and any issues to be addressed
• Homely’s Flexible Ownership offering: Once in a flexible ownership arrangement with Homely, the individual will have the right to purchase further portions of their property on periodic dates in the future for a small fee at prevailing market value.  In the event an individual needs to raise liquidity, there may also be the ability to sell some or all of their holding to Homely, subject to availability. This will also provide landlords with the opportunity to sell their properties to incumbent renters.
• HomelyBricks: A rewards based system which integrates with existing affiliate partners with loyalty and cashback schemes to support their build-up of HomelyBricks which can become benefits or proof points when getting a mortgage
• Debt Consolidation – with Monevo, Homely can help users to consolidate debt and start paying it down in preparation for saving for a deposit
• ExpansionReady: Helping landlords to expand their portfolios, source new financing or remortgage on existing BTL mortgages. Also provide real time information to inform their decision to expand their portfolio
• Mortgage & buying scheme acceptance: Working with lenders to be able to access relevant criteria for the lender to approve and accept mortgage applications in real-time

Media Contacts, Homely

Jamie Till, Libby Wallis or Georgia Turton at Instinctif Partners: [email protected] / 020 7457 2020

About UST

For more than 23 years, UST has worked side by side with the world’s best companies to make a real impact through transformation. Powered by technology, inspired by people, and led by our purpose, we partner with our clients from design to operation. Through our nimble approach, we identify their core challenges, and craft disruptive solutions that bring their vision to life. With deep domain expertise and a future-proof philosophy, we embed innovation and agility into our clients’ organizations—delivering measurable value and lasting change across industries, and around the world. Together, with over 30,000 employees in 30+ countries, we build for boundless impact—touching billions of lives in the process. Visit us at www.UST.com 

Media Contacts, UST:
Tinu Cherian Abraham
+1 (949) 415-9857

Merrick Laravea
+1 (949) 416-6212

Neha Misri
+91-9284726602
[email protected]

Media Contacts, U.S.:
S&C PR
+1-646.941.9139
[email protected]

Makovsky
[email protected]

Media Contacts, U.K.:
FTI Consulting
[email protected]

Logo: https://mma.prnewswire.com/media/1422658/UST_Logo.jpg

SOURCE UST

Biochemicals Company to Accelerate Growth and Expansion of Bio-Based Solutions

Key Takeaways:

• Nature Coatings secures $2.45 million in funding, led by Regeneration.VC and The 22 Fund, with participation from Leonardo DiCaprio, Safer Made, and Portfolia.
• BioBlack TX, Nature Coatings’ certified 100% bio-based, high-performing and carbon-negative alternative to petroleum-based carbon black, gains global recognition and adoption by fashion brands including those within the global luxury group Kering and Levi’s.
• The funding enables Nature Coatings to expand manufacturing capabilities, strengthen the senior team, and establish a global distribution network for BioBlack TX.

LOS ANGELES, Aug. 10, 2023 — Nature Coatings, a leading biochemicals company transforming waste materials into bio-based, safe, and renewable solutions, is proud to announce the successful completion of an oversubscribed $2.45 million Seed funding round. The investment round was led by Regeneration.VC and The 22 Fund, with participation from actor and environmentalist Leonardo DiCaprio, Safer Made, and Portfolia.

This significant investment follows the highly successful launch of Nature Coatings’ flagship product, BioBlack TX, their carbon-negative and high-performing alternative to polluting and toxic petroleum-derived carbon black. This groundbreaking dispersion is entirely bio-based, boasting a unique black pigment sourced from FSC certified wood waste. It has garnered worldwide acclaim and has been embraced by renowned fashion brands like the Kering Group, Levi’s, Bestseller’s Jack & Jones and Selected HOMME, as well as Vollebak.

Founder and CEO of Nature Coatings, Jane Palmer, a veteran in the pigment and dyes industry with over two decades of experience, expressed her motivation behind the company’s vision, stating, “Working in the pigment and dyes industry for over 20 years, I’ve seen the negative impact it has had on our environment and health. This inspired me to find a way to develop something better, something that is safe enough to be buried in my vegetable garden. At Nature Coatings, our vision is to create a future where the chemical industry operates in harmony with nature, and this new investment will take us closer to our goal.”

Regeneration.VC and The 22 Fund, leading investment firms in the field, spearheaded the financing of Nature Coatings. Regeneration.VC specializes in supporting forward-thinking businesses that offer innovative alternatives to reduce environmental impact, while The 22 Fund focuses on investing in high-potential women and BIPOC-owned cleantech-based manufacturing and exporting companies.

Dan Fishman, General Partner at Regeneration.VC expressed his enthusiasm, stating, “As a Consumer ClimateTech fund focusing on the reimagination of consumer industries, we have been searching high and low for a drop-in replacement to petroleum-based carbon black that is 100% bio-based and at price parity. Jane and the Nature Coatings team are reshaping the chemical industry and we are excited to support their journey.” 

Tracy Gray from The 22 Fund adds, “We invest in cleantech manufacturing companies and intentionally include female led firms to deliver both high return on investment and create clean, quality jobs in low & moderate income communities. We are excited to utilize our network and expertise to support Jane Palmer and be a part of the next growth phase of Nature Coatings.”

“Nature Coatings offers a bio-based, long term solution that can be translated across many industries contributing to the mission for a cleaner, more sustainable environment,” said Leonardo DiCaprio. “I am excited to join as an investor and support the company’s growth that will enable brands to adopt safer practices, while also educating the consumer on more sustainable products.”

This recent investment will enable Nature Coatings to expedite the adoption of BioBlack TX by expanding manufacturing capabilities, strengthening the senior team, and establishing a global distribution network.

Since its inception in 2017, Nature Coatings has been at the forefront of innovation with BioBlack TX. This solution not only benefits the planet by being free of fossil fuels and sequestering more carbon dioxide than it emits, but it also prioritizes the health and well-being of individuals by containing non-detected Polycyclic Aromatic Hydrocarbons (PAHs) and carcinogens, and having less than 0.1% of Volatile Organic Compounds (VOCs). With its cost-competitiveness and superior performance, BioBlack TX aids companies in their decarbonization efforts and compliance with impending regulations like MRSLs (Manufacturing Restricted Substance Lists). In addition to the textile industry, BioBlack TX can be applied in various other sectors, including paint, automotive, package printing, and more.

Previous investors that supported Nature Coatings are Fashion for Good, Apex Black Ltd, BESTSELLER’s HEARTLANDS A/S, Textile Innovation Fund and Los Angeles Cleantech Incubator (LACI) Impact Fund.

About Nature Coatings:

Nature Coatings is a pioneering startup revolutionizing the chemical industry with bio-based, safe and renewable solutions created from waste materials. Our flagship product, BioBlack TX, is a carbon-negative and high-performing alternative to polluting and toxic petroleum-derived carbon black. BioBlack TX contains non-detected Polycyclic Aromatic Hydrocarbons (PAHs) and carcinogens, and is cost-competitive, aiding decarbonization efforts and staying ahead of regulations. Certified by FSC®, OEKO-TEX®, USDA BioPreferred, and listed on ZDHC Gateway 3.0, BioBlack TX ensures sustainability and responsible sourcing.

 About Regeneration.VC

Regeneration.VC is an early-stage venture fund Supercharging Consumer-Powered Climate Innovation driven by circular and regenerative principles. We invest in Consumer ClimateTech companies that generate outsized economic and environmental outcomes across three strategies: Design (AgTech & Aquaculture and Next-Gen Materials), Use (Apparel & Lifestyle and Food & Beverage brands), and Reuse (Recommerce and Reverse Logistics system technologies).

About The 22 Fund

The 22 Fund is a holistic impact investor that funds tech-based, clean/climate tech and sustainable U.S. manufacturing companies to increase international sales (exports) and create the clean, quality jobs of the future in underserved and low- and moderate-income (LMI) communities. The 22 intentionally invests in women- and BIPOC-led firms to deliver both high ROI and high social/economic impact without concession or trade-offs.

Contact: The Co-Op Agency
Meg Sillivos | 650-421-6774
[email protected]

SOURCE Regeneration.VC

QIC ownership of Renewa targets critical land nodes for major infrastructure thematics like decarbonization

NEW YORK, Aug. 10, 2023 — QIC, on behalf of its managed clients, has appointed energy industry veterans Mark Noyes, Peter Tumminello, and Natalie Jackson as independent directors of portfolio company Renewa. Led by Co-Founders and Co-CEOs Stephen Lee and Gage Mooring, Renewa is a leading land under infrastructure company now with a total of US$450 million of committed capital. This committed funding demonstrates QIC’s focus on decentralized infrastructure, aligning with its strategy across energy transition, decarbonization, and distributed infrastructure.

Renewa owns one of the largest independent portfolios of land under clean energy projects in the U.S. The company provides flexible, long-term capital and other specialized financial solutions to landowners and renewable energy project developers through the acquisition of land and associated rental payments from utility-scale wind, solar, storage, and other critical infrastructure projects. 

Significantly expanding its portfolio, Renewa has achieved several important growth milestones since QIC invested in the platform in 2022. It owns land and ground leases under more than 130 renewable energy facilities across the U.S., acquiring land under projects operated by more than 50 developers, including Acciona, Duke Energy, Enel, Leeward Energy, Lightsource bp, and NextEra Energy, in 26 states.

Renewa, with a presence in more than 30 gigawatts of projects, has one of the most diversified land exposures to U.S. renewable energy. Projects on the company’s ground lease assets aim to reduce carbon dioxide emissions in the U.S. by approximately 5 million tons in 2023, the equivalent of taking approximately 1 million passenger cars off U.S. roads.

Peggy Smyth, Partner, QIC Infrastructure and Chair of the Renewa Board of Directors, said, “Throughout history, critical infrastructure has always been about securing key land nodes. As the energy transition unfolds, securing key renewable energy and energy storage nodes has become exceedingly important for renewable energy developers – a challenge we have helped address through Renewa’s distinct land financing partnerships.”

Arash Shojaie, Senior Principal, QIC Infrastructure, added, “Renewa’s strategy targets the convergence point of real estate and infrastructure. As these two asset classes continue to evolve and converge within the decarbonization thematic, we are finding new opportunities at that intersection. In the process, we are contributing to the U.S. energy transition and building value for our clients.”

Estimates indicate that more than 250 million acres of land valued at roughly US$400 billion will be required to house the solar, wind, and energy storage facilities needed to achieve U.S. net zero commitments. For context, in 2021, the U.S. energy sector required 81 million acres of land.

Renewa further expands QIC’s North American infrastructure presence. Other Infrastructure assets managed by QIC in North America include Generate Capital, CenTrio, U.S. concession investments in the campus parking systems at Northeastern University through MasParc and Mobility and at The Ohio State University through CampusParc, as well as the Long Beach Courthouse PPP.

QIC’s global infrastructure footprint has now grown to encompass 24 assets in six countries¹ across the transport, energy and utilities, and social healthcare sectors.

About QIC
QIC is a trusted investment manager and adviser providing risk adjusted returns for the clients we serve. As one of Australia’s leading institutional investment managers, we deliver alternative real asset solutions across infrastructure, real estate, private debt, private capital, and natural capital in addition to a liquid market offering for ~125 Australian and international clients. We have A$102.8bn (US$68.4bn) in assets under management and are headquartered in Brisbane, Australia, with offices in Sydney, Melbourne, New York, San Francisco, London, and Singapore.¹

About QIC Infrastructure
QIC is a long-term infrastructure investor with an established international platform, an active management approach and a proven, 16-year track record. With an international team of 87 professionals across five offices, QIC Infrastructure manages A$32.0bn (US$20.9bn) across 24 international direct investments and has realized in excess of A$15.2bn back to its clients.1 Its sector-centric and thematic-based investment strategy deconstructs risk across sector value chains identifying relative value for investment across market cycles. This drives a targeted origination approach, enabling the firm to build diversified portfolios for its clients.

¹ As at 30 June 2023

SOURCE QIC

AI-based platform provides superior insight into cloud-native applications and infrastructure

SAN FRANCISCO, Aug. 10, 2023 — Middleware, the disruptive AI-based cloud observability platform provider, today announced that it has raised $6.5 million in seed funding to simplify and supercharge cloud observability. The capital infusion will enable the company to revolutionize how businesses utilize observability stacks in the age of AI.

8VC led the round and was joined by Fin Capital, Vercel CEO and founder Guillermo Rauch and Tokyo Black. Additionally, several notable angel investors and other funds participated including Decent Capital, Begin Capital, Beat Venture and Gokul Rajaram. The funding will enable Middleware to expand its team, develop new features and grow its customer base. The company also plans to build an advanced AI advisor based on generative AI to further improve the cloud observability stack.

“We are excited to have the support of all the investors as we continue to build out our platform and help our customers achieve greater visibility and control over their systems,” said Laduram Vishnoi, CEO and founder of Middleware. “Our AI-based approach provides better insight into applications and infrastructure, making it easy for customers to debug issues faster and minimize downtime.”

Middleware’s cloud observability platform amalgamates data from various sources and leverages machine learning algorithms to identify patterns and anomalies that indicate performance issues and other problems. The platform also can provide recommendations for how to resolve issues and automate the resolution process.

The observability market has changed significantly in recent years with companies seeking faster and more cost-effective debugging. However, the proliferation of microservices and distributed systems has made it more difficult to understand real-time system behavior, which is critical to problem-solving. That’s why a growing number of businesses are using automation that monitors distributed architecture and enables deep-dive tracking and real-time observability.

“Generative AI represents a revolutionary technological shift that will completely change the software development, monitoring and maintenance process,” said Keenan Rice, founding partner at Tokyo Black. “Middleware’s ChatGPT-based AI advisors make precise recommendations, providing additional investigative paths to the problem. It empowers engineers to tackle increasingly intricate problems with ease.”

Middleware’s ultimate objective is to provide development and operations teams with effortless access to observability data throughout the entire software development lifecycle, reducing mean time to detection (MTTD) and mean time to resolution (MTTR).

The truth about microservices

Businesses are building software using entirely different technology than they did a decade ago, and yet they are still using antiquated solutions created in the distant past. Instead of using monolithic architecture, the general trend has been toward microservices, Kubernetes and distributed architecture for better security, scalability and distributed team flexibility.

According to Gartner, 95% of systems will be cloud-native by 2025. Since cloud-native applications and infrastructure generate much more data than previous technology generations, hosting and scaling that data becomes more challenging.

“Our investment in Middleware reflects our confidence in its ability to deliver innovative cloud observability solutions that help development and operations teams identify and resolve issues quickly,” said Bhaskar “BG” Ghosh, partner at 8VC. “Its AI-based approach is a game-changer for the industry, and we are excited to support the company’s continued growth and success.”

About Middleware

Middleware, the disruptive AI-based cloud observability platform provider, recently graduated from Y Combinator’s winter 2023 batch. More recently, the company attracted $6.5 million in seed funding to expand operations and further enhance its offering. Headquartered in San Francisco, Middleware’s AI-based platform provides unprecedented visibility into cloud-based assets, including applications and infrastructure, so customers can identify and resolve cloud-based issues faster and with greater ease. The platform uses generative AI to accelerate issue identification and resolution.

Media contact
Sara Black
[email protected]
(213) 618-1501

SOURCE Middleware