• BC Partners’ credit arm to acquire Runway Growth Capital as a long-term, strategic investment, complementing BC’s existing platform across private lending, opportunistic credit and specialty finance
• Runway Growth Capital will continue to operate independently and serve as the external investment adviser to Runway Growth Finance, a publicly traded business development company, with the current leadership and investment teams remaining in place
• Transaction will expand origination channels, enhance investment solutions, and accelerate capital formation and fundraising capabilities as Runway Growth Capital seeks to strengthen the venture ecosystem

MENLO PARK, Calif. and NEW YORK, Oct. 31, 2024 — 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, and BC Partners Credit, the $8 billion credit arm of BC Partners, an approximately $40 billion AUM alternative investment firm, today announced a definitive agreement whereby BC Partners Credit will acquire Runway.

Following the closing of the transaction, Runway will remain the investment adviser to investment funds, including Runway Growth Finance Corp. (Nasdaq: RWAY) (“Runway Growth Finance”), a business development company, and other private funds. Runway’s current management team and investment personnel are expected to continue to serve as officers and senior management. Runway Growth Finance will be well positioned to capitalize on a broader range of investment and value creation opportunities with access to BC Partners’ origination capabilities and expansive platform.

Runway Founder and Chief Executive Officer David Spreng commented, “This transaction is expected to deliver increased value for both investors and borrowers in the near- and long-term as we join the BC Partners Credit platform. Our strategic partnership positions Runway to accelerate originations within our ideal investment range of $30-150 million and expand our offerings to both target companies and sponsors. The combination will enhance our capabilities by introducing structured equity preferred investments, asset-based lending, and the ability to operate in new strategies such as equipment leasing, while strengthening our sponsor relationships through fund finance and other fund-level offerings. By combining BC Partners’ resources and scale with our network, expertise and differentiated presence in the market, we believe Runway will deliver more comprehensive financing solutions for a wider range of companies. Moving forward, we expect that our investors will benefit from increased exposure and access to a greater number of investment opportunities, additional diversification and the potential for attractive risk-adjusted returns.”

Ted Goldthorpe, Head of BC Partners Credit, said, “David and the team at Runway have built one of the most well-respected platforms across growth and venture lending. Their solutions are sought after by fast growing companies, and we look forward to building on their momentum. As a virtue of being part of the BC Partners Credit platform, we see many compelling opportunities for Runway to generate additional origination activities, optimize its capital structure and create value for investors and borrowers. Likewise, the acquisition is quite strategic for BC Partners Credit, as we expand our offerings through a robust suite of financing solutions to all stakeholders. We will continue to accelerate our growth trajectory, establishing BC Partners Credit as a best-in-class, fully diversified credit manager, serving a multi-trillion-dollar market with strong tailwinds.”

Transaction Timing

The closing of the transaction, which is expected to occur in the fourth quarter of 2024, is subject to customary closing conditions, including approval of a new investment advisory agreement with Runway, by Runway Growth Finance’s stockholders, the terms of which are expected to remain the same as the existing investment advisory agreement. The Runway Growth Finance Board of Directors unanimously recommends that stockholders approve the new investment advisory agreement, under which Runway will continue in its capacity as the company’s investment adviser. Senior management of Runway Growth Capital LLC has agreed to vote their shares in favor of the transaction.

Advisors

Oppenheimer & Co. Inc. is acting as exclusive financial advisor to Runway Growth Capital LLC. Wachtell, Lipton, Rosen & Katz is acting as legal counsel to Runway Growth Capital LLC and Eversheds Sutherland (US) LLP is acting as legal counsel to the independent directors of Runway Growth Finance. Simpson Thacher & Bartlett LLP is acting as legal counsel to BC Partners.

About Runway Growth Capital LLC

Runway Growth Capital LLC is the investment adviser 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 a target of $30 million to $150 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 www.runwaygrowth.com.

About Runway Growth Finance Corp.

Runway Growth Finance is a growing specialty finance company focused on providing flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity. Runway Growth Finance is a closed-end investment fund that has elected to be regulated as a business development company under the Investment Company Act of 1940. Runway Growth Finance is externally managed by Runway Growth Capital LLC, an established registered investment adviser that was formed in 2015 and led by industry veteran David Spreng. For more information, please visit www.runwaygrowth.com.

About BC Partners & BC Partners Credit

BC Partners is a leading international investment firm in private equity, private debt, and real estate strategies. BC Partners Credit was launched in February 2017, with a focus on identifying attractive credit opportunities in any market environment, often in complex market segments. The platform leverages the broader firm’s deep industry and operating resources to provide flexible financing solutions to middle-market companies across Business Services, Industrials, Healthcare and other select sectors. For further information, visit www.bcpartners.com/credit-strategy.

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, which change over time. 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’s filings with the Securities and Exchange Commission. Runway 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.

Additional Information and Where to Find It

In connection with the proposed transaction, Runway Growth Finance Corp. intends to file relevant materials with the SEC, including a preliminary and definitive proxy statement on Schedule 14A (“Proxy Statement”) that will provide additional information about the proposed transaction. INVESTORS AND STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AND ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION, AMONG OTHER THINGS, ABOUT RUNWAY GROWTH FINANCE CORP., RUNWAY GROWTH CAPITAL LLC, BC PARTNERS, BC PARTNERS CREDIT, AND THE PROPOSED NEW INVESTMENT ADVISORY AGREEMENT. Investors and stockholders may obtain these documents (and any other documents filed by the Company with the SEC) free of charge at the SEC’s website at http://www.sec.gov and from Runway Growth Finance Corp.’s website (www.investors.runwaygrowth.com). Investors and stockholders may also obtain free copies of the proxy statement (when it becomes available) and other documents filed with the SEC by Runway Growth Finance Corp. free of charge by contacting Investor Relations at [email protected]. Investors and stockholders are urged to read the Proxy Statement and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed new investment advisory agreement.

Participants in the Solicitation

Runway Growth Finance Corp., Runway Growth Capital LLC, BC Partners, and BC Partners Credit may be deemed to be participants in the anticipated solicitation of proxies from Runway Growth Finance Corp.’s stockholders in connection with the transaction. Information regarding Runway Growth Finance Corp.’s directors and executive officers is available in its definitive proxy statement for its 2024 annual meeting of stockholders filed with the SEC on July 3, 2024, and subsequent filings which the company has made with the SEC. Information regarding Runway Growth Capital LLC’s directors and officers is available on its Form ADV currently on file with the SEC. More detailed information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, which may be different than those of the Runway Growth Finance Corp.’s stockholders generally, will be set forth in the Proxy Statement when it becomes available and in other relevant materials to be filed with the SEC. These documents may be obtained free of charge from the sources indicated above.

IR Contacts:
Alex Jorgensen, Prosek Partners, [email protected] 
Thomas B. Raterman, Chief Financial Officer and Chief Operating Officer, [email protected]

Media Contact:
Josh Clarkson, Prosek Partners, [email protected]

Media Contact for BC Partners:
Daniel Yunger / Shea Vilardi
[email protected] / [email protected]

SOURCE Runway Growth Capital LLC

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Funding will enable faster expansion to other States and development of new products.

SAN FRANCISCO, Oct. 31, 2024 — Property insurance MGA, Delos Insurance Solutions, which uses wildfire science and satellite imagery expertise to solve homeowners’ wildfire insurance availability issues, has raised $9 million through a Series A funding round. The round was led by HSBC Asset Management and included IA Capital Group, Blue Bear Capital and Generation Space along with several angel investors.

Delos provides insurance solutions to homeowners in wildfire-stressed areas and currently writes $40bn in total insurance value. Its proprietary technology pinpoints properties that do not pose a high risk of loss. At the same time, traditional insurance carriers are continuing to abandon or increase rates for homeowners living in areas potentially exposed to wildfire.

Wildfires continue to challenge many parts of the country. Delos is committed to applying its technology and expertise to broaden access to insurance in a way that people can afford. The funding will help support this aim.

“We are enjoying working with a great, supportive group of investment partners, as we embark on the next phase of the Delos journey. We are looking to provide insurance outside California and develop new products to help people obtain the affordable insurance they deserve,” said Kevin Stein, CEO Delos Insurance Solutions. “We scaled back our funding requirements for this round, despite being oversubscribed. This is due to our better-than-planned growth, market leading loss ratios, and the positive response from California homeowners.”

The investment partners focus on financial sector solutions, insurance, climate change, and space, highlighting the breadth of expertise required to provide real, sustainable solutions to the impacts of climate change on our society.

“We are excited to support Delos by leading their latest funding round. Its proprietary wildfire forecasting, driven by AI, is improving access to property insurance coverage in California, a market that’s under stress from growing climate catastrophes. We look forward to working with the team as they expand across the US,” stated Mike D’Aurizio, Investment Director, Climate Growth Partners, HSBC Asset Management.

“Kevin and Shanna are exceptional founders who have assembled a fantastic team to tackle an immense challenge in enabling property insurance in wildfire-exposed areas. Having led the previous two funding rounds, we have seen them overcome every obstacle along the way to gain unparalleled success and credibility with homeowners, distributors, carriers and capital markets. They have proved out their cutting edge risk selection and pricing capabilities and are poised to continue to provide solutions to dislocated insurance markets in California and beyond,” commented Matt Perlman, Partner IA Capital Group.

“Since partnering with Delos in 2019, we’ve been captivated by their innovative tech-driven approach to tackling the persistent wildfire crisis. Their integration of data and machine learning is revolutionizing the insurance landscape, allowing them to swiftly create and sell policies. Delos is on the fast track to becoming a profitable leader, empowering people to live safely in their desired locations.,” said Vaughn Blake, Partner Blue Bear Capital.

“We are thrilled to continue supporting Delos through this next stage. The business has demonstrated the efficacy of its models with a significant portfolio and is now poised for substantial, scalable growth. With this team, technology, and product, they are well-positioned to expand their geographic footprint and product offerings, bringing wildfire insurance solutions to the masses,” added Lewis Jones, Vice President of Investment, Generation Space.

Last month, Delos was awarded MGA/MGU of the Year by Insurance Insider US and has just been named one of CB Insights’ Top 100 Global Fintech Companies for 2024.

About Delos Insurance Solutions

Delos Insurance Solutions uses cutting-edge technology to offer insurance protection to homeowners in communities abandoned by other insurers because of wildfire risk. Founded in San Francisco in 2017 by aerospace engineers, Delos uses satellite imagery and artificial intelligence to identify insurable homes within territories deemed too risky by the rest of the insurance market. Delos is a Managing General Agent (MGA) offering policies on behalf of insurance carriers rated ‘A’ by AM Best.

About HSBC Asset Management
HSBC Asset Management, the investment management business of the HSBC Group, invests on behalf of HSBC’s worldwide customer base of retail and private clients, intermediaries, corporates and institutions through both segregated accounts and pooled funds. HSBC Asset Management connects HSBC’s clients with investment opportunities around the world through an international network of offices in 22 countries and territories, delivering global capabilities with local market insight. As at 30 June 2024, HSBC Asset Management managed assets totalling US$713bn on behalf of its clients. For more information see http://www.global.assetmanagement.hsbc.com/ HSBC Asset Management is the brand name for the asset management businesses of HSBC Holdings plc

About IA Capital Group
IA Capital Group is the leading venture capital firm focusing primarily on insurtech, making strategic venture capital investments on behalf of 20+ carriers, with a more than two-decade track record of successfully partnering with early-stage insurtech and fintech companies.

About Blue Bear Capital
Blue Bear is a venture capital and early growth equity firm driving digital technologies and machine intelligence into multibillion-dollar verticals across the energy, infrastructure, and climate industries. The team comes from leading energy private equity firms, startups, and large industrial technology developers. Blue Bear typically leads Seed through Series B rounds, with a portfolio covering operational AI, IoT, and cybersecurity technologies, all deployed with enterprise customers to drive connectivity and intelligence across the world’s most critical industries.

About Generation Space LLC
Generation Space LLC is the US arm of Seraphim Space Manager LLP and is responsible for all its US activities and delivery of the US Generation Space Accelerator. Seraphim Space is the world’s leading investment group focused on the space sector’s $trillion investment opportunity.  Outside the US, Seraphim Space Manager LLP has pioneered ‘SpaceTech’ as an investment category, having launched the world’s first private and first public SpaceTech focused VC funds as well as the world’s first dedicated SpaceTech Accelerator, positioning it as the world’s leading investment group focused on the space sector’s $trillion investment opportunity.

SOURCE Delos Insurance Solutions

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Today’s pressing challenges, such as labor shortages and escalating geopolitical tensions, primarily exist in the physical world. While AI has thrived in the digital realm, its potential in the physical domain remains untapped due to a lack of domain-specific training datasets. More than 95% of enterprises struggle to obtain high-quality training data at scale, often pouring millions into sensor deployments and dedicating months to manual data labeling—only to face uncertain outcomes. This struggle is one of the biggest barriers to effectively implementing AI systems in the physical world.

Bifrost’s software platform changes this by allowing teams to generate datasets in minutes using simulated 3D worlds. This allows teams to build new AI capabilities faster than ever, teach robots how to solve real-world problems, and adapt to new objects, tasks, and environments in hours instead of months.

Bifrost’s breakthroughs in Generative AI and 3D graphics allow users to create realistic, industry-specific data & scenarios at scale—no 3D expertise needed. Designed for AI developers, the platform offers fully controllable real-time 3D worlds in supercharged Jupyter notebooks. Traditional 3D simulators often fail to deliver realism, while 2D generative AI lacks the nuanced control necessary for sophisticated applications. Bifrost bridges this gap with a hybrid approach, combining an unprecedented level of precision with realism. Users harness a powerful Python library to program every element of their 3D worlds, from camera movements to environmental conditions, automating and fine-tuning their simulations with ease.

This has enabled their customers to build new Physical AI capabilities faster than ever. Autonomous boats that can safeguard shipping lanes from piracy, industrial robots that can assemble new parts with unmatched efficiency, and drones that can inspect thousands of electrical grids for defects—all without human intervention. These systems serve as a vital link that allows digital systems to engage with the real world.

After LLMs and image generators, Physical AI represents AI’s most important frontier yet.  However, building these systems is incredibly hard. Bifrost is making this process faster, cheaper, and more reliable, so teams can focus on what matters: solving real-world problems with AI.

“We work with some of the most technically demanding organizations in the world, solving some of the toughest problems. This includes major U.S. government organizations and leading enterprises in heavy industry. One example is NASA JPL, with whom we have been collaborating on several initiatives, including data generation engines for Moon and Mars exploration,” said Charles Wong, Co-founder and CEO of Bifrost AI.

“The market for robotics and autonomous systems is rapidly increasing. In the future, AI development will rely increasingly on synthetic data instead of real data. We believe the Bifrost team is uniquely positioned to enable this opportunity by bridging the data , allowing systems to be trained more efficiently and quickly by an order of magnitude. We expect their approach will unlock new use cases and opportunities, enabling AI to transform our physical world”, said Stephen Lee, General Partner at Carbide Ventures.

“As AI becomes increasingly prevalent, actively deployed across commercial and defense-related applications at an unprecedented scale, Bifrost stands out as a trusted partner, ready to support teams working on advanced robotics and autonomous systems,” adds Thomas d’Halluin, Airbus Ventures Managing Partner. “We are confident that Bifrost AI will unlock exceptional value at the intersection of 3D generative AI, advanced simulation, and design, which is already being used by major U.S. government organizations and leading global enterprises in heavy industry.”

“One of the fundamental challenges in AI and robotics is generalization—the ability to learn new skills and handle a variety of scenarios and tasks. Traditionally, adapting to new tasks could take months. But with Bifrost, that timeline has shrunk to just hours. This acceleration enables teams to build AI systems that can tackle a wider range of problems, unlock larger markets, and generate more revenue with less upfront data acquisition cost.” Aravind SK, co-founder and CTO of Bifrost AI.

Read more about us at bifrost.ai

SOURCE Bifrost AI, Inc

De wereldwijde adoptie van Bitcoin heeft zijn rol als “digitaal goud” versterkt, maar het bredere financiële potentieel is onbenut gebleven door het gebrek aan een schaalbaarheidsoplossing waarin de kernprincipes behouden blijven. Deze kloof heeft gebruikers gedwongen om Bitcoin te bewaren als passieve waardeopslag of om te vertrouwen op bewaarders voor breder gebruik. Deze adoptie ondermijnt de rol van Bitcoin in gedecentraliseerde financiering. Zonder een goede schaalbaarheidsoplossing loopt Bitcoin het risico zijn relevantie in gedecentraliseerde financiën te verliezen en als netwerk verouderd te raken.

Citrea is de eerste Bitcoin schaalbaarheidsoplossing om het nut van Bitcoin uit te breiden zonder afbreuk te doen aan de decentralisatie of veiligheid. Citrea breidt de mogelijkheden van de Bitcoin blockspace uit met zero-knowledge technologie en maakt het mogelijk dat het Bitcoin-netwerk verschillende on-chain toepassingen en platformen ondersteunt. Door tussenpersonen overbodig te maken, stelt Citrea gebruikers in staat om zonder vertrouwen BTC te kopen, te benutten, uit te lenen en te gebruiken. Hierdoor verandert Bitcoin van een passieve waardeopslagplaats in een actief financieel instrument.

“Citrea is een belangrijke mijlpaal in Bitcoin’s ontwikkelingstijdlijn en de eerste investering die we hebben gedaan in het Bitcoin-ecosysteem,” zegt Joey Krug, Partner bij Founders Fund. “Met het sterkste team en het beste technische ontwerp dat we hebben gezien in de Bitcoin L2-ruimte, maakt de 0→1-technologie van Citrea Ethereum-achtige rollups voor slimme contracten op Bitcoin mogelijk, in een ‘trust-minimized’ omgeving.

“De afgelopen 18 maanden hebben we gewerkt aan de infrastructuur die Bitcoin nodig heeft om verder te gaan dan alleen een opslagplaats van waarde en een nieuw tijdperk van gedecentraliseerde Bitcoin-financiering in te gaan,” zegt Orkun Kilic, medeoprichter en CEO van Chainway Labs. “Citrea combineert doorbraken in cryptografie met rigoureuze engineering om deze visie werkelijkheid te maken. Bitcoin maakt niet alleen een grenzeloze economie mogelijk, maar dient ook als basis voor een censuurbestendige monetaire laag. Onze missie is om het fundament te leggen voor een ecosysteem dat nodig is om de wereldwijde hyperbitcoinisatie te stimuleren.”

Over Citrea

Citrea is de eerste rollup die het nut van BTC vergroot en de Bitcoin blockspace activeert voor een nieuw gedecentraliseerd financieel ecosysteem. Citrea’s visie is om een schaalbare infrastructuur te bouwen die Bitcoin naar de volgende fase brengt: de basis voor de wereldfinanciën.

Meld u aan voor het ontwikkelaarsprogramma ‘Citrea Origins‘.

Ga voor meer informatie naar: Citrea website   | Citrea X-account

Over Chainway Labs

Chainway Labs, het bedrijf dat Citrea bouwt, is mede opgericht door vier jonge computerwetenschappers en ondernemers met een focus op Bitcoin, Ethereum en nul-kennistechnologie.

Foto – https://mma.prnewswire.com/media/2541872/Citrea_Series_A.jpg

L’adozione globale dei Bitcoin ne ha consolidato il ruolo di “oro digitale”, ma il loro più ampio potenziale finanziario è rimasto inutilizzato per via della mancanza di una soluzione di scalabilità che ne mantenga i principi fondamentali. Questa lacuna ha costretto gli utenti a utilizzare i Bitcoin come riserva passiva di valore, oppure a fare affidamento su depositari per un utilizzo più ampio. Questa adozione indebolisce il ruolo dei Bitcoin nella finanza decentralizzata. In mancanza di una soluzione di scalabilità adeguata, Bitcoin rischia di perdere la propria rilevanza nella finanza decentralizzata e di diventare una rete obsoleta.

Citrea è la prima soluzione di scalabilità dei BTC che amplia l’utilità dei Bitcoin senza comprometterne la decentralizzazione o la sicurezza. Citrea potenzia le capacità del blockspace dei BTC con la tecnologia zero-knowledge e consente alla rete Bitcoin di supportare diverse applicazioni e piattaforme on-chain. Eliminando la necessità di intermediari, Citrea consente agli utenti di acquistare, prestare, prendere in prestito, utilizzare e fare leva con i BTC, il tutto in modo trustless, trasformando i Bitcoin da una riserva di valore passiva in uno strumento finanziario attivo.

“Citrea rappresenta una pietra miliare nella cronologia dell’evoluzione dei Bitcoin, ed è anche il primo investimento che abbiamo fatto nell’ecosistema dei Bitcoin”, ha affermato Joey Krug, Partner di Founders Fund. “Grazie al team più forte e al miglior design tecnico mai visto nello spazio L2 dei Bitcoin, la tecnologia 0→1 di Citrea consente rollup di tipo Ethereum per contratti intelligenti sui Bitcoin, in modo da minimizzare il trust”.

“Negli ultimi 18 mesi abbiamo realizzato l’infrastruttura che serve a Bitcoin per oltrepassare la semplice funzione di riserva di valore ed entrare in una nuova era di finanza decentralizzata supportata dai Bitcoin”, ha affermato Orkun Kilic, co-fondatore e amministratore delegato di Chainway Labs. “Citrea coniuga innovazioni crittografiche e rigore ingegneristico per trasformare questa visione in realtà. I Bitcoin non solo rendono possibile un’economia senza confini, ma costituiscono anche la base per un livello monetario resistente alla censura. La nostra missione è gettare le basi e l’ecosistema necessari per guidare l’iperbitcoinizzazione globale”.

Informazioni su Citrea

Citrea è il primo rollup che aumenta l’utilità dei BTC e attiva lo spazio di blocco dei Bitcoin per un nuovo ecosistema finanziario decentralizzato. La visione di Citrea è realizzare un’infrastruttura scalabile per il passaggio dei Bitcoin alla fase successiva: le fondamenta della finanza mondiale.

Vi inviatiamo a iscrivervi al programma per sviluppatori ‘Citrea Origins‘.

Per maggiori informazioni visitate: Sito web Citrea   | Account Citrea su X

Informazioni su Chainway Labs

Chainway Labs, la società che ha creato Citrea, è stata fondata da quattro giovani informatici e imprenditori specializzati in Bitcoin, Ethereum e tecnologia zero knowledge.

Foto – https://mma.prnewswire.com/media/2541872/Citrea_Series_A.jpg

OpenOrigins also launches its new content marketplace with more than 1PB of ready to license data that unlocks new revenue streams for media and data companies by responsibly licensing their archives to companies for AI model training

LONDON, Oct. 31, 2024 — OpenOrigins, the company founded to protect content authenticity through its provenance focused blockchain, has expanded globally with a $4.5 million seed investment led by Galaxy Interactive with participation from Galaxy Ventures and existing investor Unbound, a global investment firm led by Shravin Bharti Mittal. During the past year, OpenOrigins grew quickly signing major partnerships and clients with leading media companies such as ITN, who produce content for Channel 4 and ITV. This signifies the large demand for OpenOrigins – a highly scalable decentralized content anchoring and authenticity verification solution that brings believability back into the global content and media industry in the age of generative AI.

AI-generated content and deepfake images and videos are being created with increasing ease and pace by individuals and organizations. With the public widely unable to distinguish authentic images and videos from AI-generated content, there is a critical need to restore trust in visual media, which is at an all-time low.

“We are seeing fabricated content threaten our trust in information ecosystems, destabilize political environments and rapidly increase corporate fraud. Without an immutable mechanism to prove the authenticity of content, the internet will become a collective fiction, where people can’t believe anything they see. Now is the time to safeguard non-synthetic content, establishing provable provenance, so we can share our stories, and always be believed,” said Ari Abelson, co-founder of OpenOrigins.

Today, OpenOrigins’ provenance-enforcing blockchain expands globally. OpenOrigins is on a mission to safeguard the provable origins of human-created media. The company’s custom-built blockchain, anchoring solutions, and real-time camera-capture technologies protect and prove the authenticity of images and videos, providing a way for people, companies, and governments to reliably operate on fact, not fiction.

OpenOrigins’ approach to safeguarding media content is fundamentally different from existing solutions that focus on detection. Once an image’s provenance has been validated on the purpose-built blockchain, OpenOrigins is able to globally distribute this media and license it on behalf of the content provider while proving the content’s original authenticity. AI detection solutions are not able to accomplish this, as AI platforms don’t offer a decentralized, immutable public record and operate like an unscalable ‘whack-a-mole’ approach, putting out fires after the fact. In contrast, OpenOrigins’ approach is to build fireproof infrastructure.

“AI advancements are rapidly outpacing any AI detectors or retroactive solutions to authenticating content – it’s a losing arms race. Our approach is sustainable, what’s proven to be true today will still be true a decade down the line. We leverage the immutable quality of blockchains to combat AI. By proving content at source, we can guarantee what is human-created and what isn’t. In our minds, purpose built blockchains are the only acceptable solution for trust online in a world of AI,” said Dr. Manny Ahmed, founder of OpenOrigins. The company began as an academic project at the University of Cambridge, while Manny Ahmed completed his PhD.

OpenOrigins has seen extensive interest from global media companies, and has already partnered with ITN, one of the UK’s leading content producers with clients including Channel 4 and ITV, to protect the human origins of their media archives spanning the past 70 years and consisting of over a million video and audio assets. Following partnership with OpenOrigins, ITN is now able to unlock a new revenue stream by licensing their secured archives to AI companies who are responsibly training their models using OpenOrigins’ marketplace.

“ITN has been a trusted provider of high-quality British journalism for over 70 years. As synthetic media becomes more prevalent, ITN’s archive strategy has evolved to include protecting the provenance and integrity of footage as well as the physical assets. OpenOrigin’s blockchain solution has given us a route to validating our material to maintain trust and offers a route to the wider industry becoming more responsible creators and distributors of media.” Tami Hoffman, Director of News Distribution and Commercial Innovation, ITN.

OpenOrigins has also partnered with leading newswires to pilot novel point-of-capture technology, ensuring audiences and journalists can trust in what they see, by verifying the origins of newly captured images and videos. They have run global election coverage pilots ensuring audiences are provided with absolute confidence that what they see is real.

“At Galaxy Interactive, we invest in companies building the infrastructure for a future where digital experiences are as authentic and trustworthy as physical ones,” said Jeff Brown, Partner, Galaxy Interactive. “OpenOrigins’ technology is essential to securing the provenance of digital content and enabling verifiable ownership, which are critical building blocks for a secure and trusted spatial computing future. We are excited to support OpenOrigins in their mission.”

“At Unbound, we invest in companies solving critical challenges for global industries. One of the most urgent threats today is the rise of AI-generated deepfakes, which undermine trust in media. OpenOrigins provides a vital solution for media companies, offering a defense against this growing problem. Over the past year, the strong traction OpenOrigins has seen with media organizations has validated our belief in the relevance and importance of their platform. We’re excited to deepen our commitment to OpenOrigins as they continue building the large-scale infrastructure needed to safeguard the credibility of digital media.” – Shravin Bharti Mittal, Founder of Unbound.

About OpenOrigins:
OpenOrigins proves the authenticity of media by enabling companies to secure or anchor genuine content on its provenance-built blockchain to protect against manipulation whilst providing access for the protected media to be accessed and distributed, and allowing anybody to look up content origins for themselves. OpenOrigins is ushering in the era of verifiable content truth. For more information, please visit https://www.openorigins.com/.

For further information, interviews, or partnership inquiries, please contact: [email protected]

SOURCE OpenOrigins

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Investment from Visionary Family Office-Owned Private Investment Firm Marks a Pivotal Moment in Transforming the Funding Landscape for Female Founders as LINGO Expands Access to STEM Career Readiness

SPRINGFIELD, Mo., Oct. 31, 2024 — In a landmark moment for women entrepreneurs and the future of STEM education, Pinnacle Private Ventures, LLC, an influential family office-owned private investment firm led by Sean McCurry, is proud to lead an investment of $2.25 million in LINGO, a leading edtech company founded by former NASA rocket scientist, serial entrepreneur and future Blue Origin astronaut Aisha Bowe that is redefining STEM learning through its innovative curriculum. This funding round highlights a powerful shift in the venture capital landscape—one that is redefining how women and minority founders can access the resources needed to drive meaningful societal change.

Pinnacle Private Ventures is at the forefront of investments that create meaningful impact, prioritizing backing ventures that align with its values and make a tangible difference in underrepresented communities. With only 1% of venture capital allocated to Black female founders, LINGO’s successful funding round marks a watershed moment in empowering diverse entrepreneurs who are often overlooked by traditional funding avenues. It underscores the essential role family offices can play in driving positive change by raising the bar for future investments that prioritize equity and innovation.

“This funding round highlights LINGO’s potential to reshape the future of STEM education,” stated Sean McCurry, founder of Pinnacle Private Ventures. “We are grateful to support LINGO’s growth and its mission to equip the next generation of tech leaders with the resources they need to succeed. Our investment reflects a deep commitment to not only pursuing financial returns but also to creating meaningful social impact through education and fostering diversity within the tech sector.”

LINGO’s mission is to bridge the gap between traditional education and industry-readiness by delivering accessible STEM tools that empower learners to seize real-world opportunities. The new capital will allow LINGO to expand its innovative hands-on, project-based coding kits and curriculum which include lessons for students aged 13 and up in fields such as artificial intelligence, space systems, and environmental monitoring. LINGO’s programs—already being implemented by partners such as General Dynamics Information Technology, Siemens Healthineers, Leidos and Howard University—are transforming how students engage with STEM and preparing the next generation of scientists and engineers for careers in rapidly evolving fields.

“With 80% of future jobs projected to require STEM skills, LINGO is a scalable solution for schools and homes that provides learners with exposure to emerging technologies while building the skills and confidence they need to thrive,” said Aisha Bowe, founder and CEO of LINGO. “Closing this round empowers us to extend our reach, delivering essential STEM tools and inspiration to thousands more students and preparing them for success in a rapidly evolving world.”

The involvement of other notable investors, including 1863 Ventures, Sequoia Capital via the Scout program, and Dr. Joy Johnson, further underscores the significance of this funding round. As LINGO continues to scale, this investment marks a pivotal moment in how family offices like Pinnacle are shaping the future. By empowering founders like Aisha Bowe, who is redefining STEM education and creating pathways for more women in tech, Pinnacle is setting a new benchmark for aligning investment strategies with a vision of inclusivity and equity.

About Pinnacle Private Ventures, LLC

Pinnacle Private Ventures operates as an extension of a single-family office based out of Southwest Missouri and Overland Park, KS. Our goal has always been four-fold: 1) Bring glory to God in everything we are and do–especially in how we steward the relationships and capital He sends us; 2) Pursue higher returns to further the Family Office’s philanthropic efforts; 3) Partner thoughtfully with first-class entrepreneurs and operators to invest in their teams, businesses, and projects; and 4) Provide our investors with quality risk-adjusted returns within the private investment space.

About LINGO

LINGO delivers hands-on, project-based learning that makes STEM fun and accessible. Created by engineers and designed for teachers, LINGO lessons can be self-guided or teacher-led. Aligned to national learning standards, LINGO lessons build learners’ confidence through engaging real-world projects in emerging fields like artificial intelligence, environmental monitoring, and space systems. In a world where 80% of future careers will require STEM skills, LINGO has been implemented by industry leaders like General Dynamics Information Technology, Siemens Healthineers, and Leidos to help equip students for success in a rapidly evolving world.

For more information, visit https://stemlingo.com.

MEDIA CONTACT

Bradford Bridgers
213-444-6658 

Photo – https://mma.prnewswire.com/media/2545952/Aisha_Bowe_LINGO.jpg

SOURCE Pinnacle Private Ventures, LLC

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LOUISVILLE, Ky., Oct. 31, 2024 — Breath Diagnostics Inc., advancing the development of a patented, non-invasive breath analysis technology with the potential to help transform disease detection, is pleased to announce the appointment of Aaron Roebuck as President.

Ivan Lo, CEO of Breath Diagnostics Inc. (the “Company”), stated, “Our breath analysis technology, OneBreath™, currently in the research and development phase, has demonstrated significant potential in clinical studies focused on the detection of diseases such as lung cancer and pneumonia. As we continue developing our platform technology, we are committed to preparing for future commercialization opportunities. Aaron brings extensive industry experience that will help accelerate our development efforts with the goal of bringing OneBreath™ to market.”

Aaron Roebuck brings nearly 30 years of experience in respiratory and cardiopulmonary medicine, with a distinguished background in the development and commercialization of medical devices. His most recent role was at Vero Biotech, where he served as Senior Director of Clinical Sciences and led initiatives in next-generation drug delivery systems. Throughout his career, Mr. Roebuck has excelled in building teams, leading clinical trials, securing funding, and contributing to FDA submissions.

“I am honored to join Breath Diagnostics at such a pivotal time,” said Aaron Roebuck, President of Breath Diagnostics Inc. “OneBreath™ has the potential to significantly improve early detection of diseases like lung cancer and pneumonia. I look forward to helping lead the Company‘s efforts as we move toward the ever-important commercialization phase.”

Closing of Convertible Note Financing

Breath Diagnostics Inc. is pleased to announce the closing of a $1 million convertible note financing, led by strategic investors, including the Company’s CEO Ivan Lo. The funds raised will be allocated to support general and administrative operations, as well as research and development efforts intended to enhance the OneBreath™ platform.

We would like to thank our long-term shareholders and recent investors for their continued support in our mission to advance non-invasive breath diagnostics.

About Breath Diagnostics Inc.

Breath Diagnostics Inc. is an innovative medical device company dedicated to advancing non-invasive breath analysis technology. Currently in the research and development phase, the Company’s flagship platform, the OneBreath™ system, is designed to detect lung cancer and other diseases by analyzing specific biomarkers in a patient’s breath. This approach has the potential to offer a fast, portable, and cost-effective solution for early disease detection.

The OneBreath™ system uses a single breath sample to identify disease-specific biomarkers. Requiring less than a minute of the patient’s time, this potentially life-saving technology has shown promise in studies involving lung cancer detection in over 800 patients across multiple clinical sites.

Unlike traditional breath analysis technologies, the OneBreath™ system does not use thermal desorption tubes but instead a microchip reactor. A key benefit of OneBreath™ is the ability to analyze samples using liquid chromatography mass spectrometers (LCMS) such as UHPLC-MS. Thus, the OneBreath™ system offers flexibility, sensitivity, and suitability for complex breath samples, enhancing the repeatability of breath analysis. 

For more information on Breath Diagnostics Inc. and the OneBreath™ system, please visit www.breathdiagnostics.com.

Media and Other Inquiries:

Aaron Hoddinott
Corporate Communications
[email protected]
1-(866)-239-8627
Breath Diagnostics Inc.

Cautionary Note Regarding Forward Looking Information

This press release contains forward-looking statements and information. The words ”anticipate,” ”believe,” ”continue,” ”could,” ”estimate,” ”expect,” ”intend,” ”may,” ”plan,” ”potential,” ”predict,” ”project,” ”target,” ”should,” ”would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements in this press release include statements regarding the potential benefits of the OneBreath™ system as it relates to disease detection, and the potential for commercialization opportunities in the future. The Company may not achieve the plans, intentions, or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various important factors, including: uncertainties inherent in the research and development process of new technology and the initiation and completion of studies, and availability of funding sufficient for the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements.

Breath Diagnostics Inc. is currently in the research and development phase with its OneBreath™ system and there is no certainty it will be able to commercialize this technology.

Any forward-looking statements contained in this press release speak only as of the date hereof. Breath Diagnostics Inc. expressly disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise.

SOURCE Breath Diagnostics Inc.

Investment enables ContraForce’s mission to transform how managed security services are delivered.

MCKINNEY, Texas, Oct. 31, 2024 — ContraForce, the security service delivery platform company, today announced the closing of a $3.25 million seed funding round, co-led by GALLOS Ventures and DataTribe. The funding round enables ContraForce’s mission to automate security operations and expand the security services opportunity for managed service providers.

Founded in McKinney, Texas in 2021, ContraForce has developed a groundbreaking security service delivery platform that allows service providers to grow their monthly recurring revenue, improve their margins and deliver better client outcomes. The company saw annual recurring revenue grow 400 percent over the past 12 months and has established a growing customer base and distribution partners around the world.

The ContraForce platform employs proprietary AI and automation that streamlines the time and security expertise service providers require to manage security incident and event management and endpoint detection and response tools including Microsoft Sentinel, Microsoft Defender, Splunk Enterprise Security, IBM QRadar SIEM, Crowdstrike Falcon XDR and SentinelOne Singularity XDR. ContraForce was recognized by Microsoft Intelligent Security Association as their 2024 Security ISV of the year. ContraForce was also recently honored as an SC Awards winner for Most Promising Early-Stage Startup and selected as a SINET16 Innovator. Using the ContraForce platform, service providers can onboard clients within a few minutes and easily manage all their clients and security tools simultaneously in a single dashboard.

A recent McKinsey and Company report highlighted the massive opportunity in cybersecurity managed services, with a total available market of $400-500 billion and current solutions only penetrating 5-10% of the market. The main obstacle to deeper penetration is the shortage of qualified cybersecurity personnel, underscoring the urgent need for automated solutions like those offered by ContraForce. ContraForce enables service providers to add a new line of business by allowing them to immediately launch managed detection and response and managed security operation center (SOC) services.

The oversubscribed investment round, which included participation from angels and strategic partners, brings a total of $5.25 million in investment to ContraForce, which will use the capital to accelerate the release of new product features and invest in sales and marketing in preparation for a future Series A round.

William Kilmer, General Partner at GALLOS Ventures, stated, “GALLOS specializes in investing in and building great security companies. We’re continuously seeking solutions that address real security challenges, particularly in security operations. ContraForce tackles one of the biggest problems in today’s market by automating the majority of incident investigation and remediation workflows while keeping critical decisions in the hands of security analyst teams.”

Kilmer added, “As a former CEO of a managed security services provider (MSSP), I see tremendous potential for ContraForce to scale the managed security services market in a highly efficient manner.”

Stan Golubchik, Chief Executive Officer and Co-founder of ContraForce, commented, “ContraForce’s goal is to help service providers automate and simplify the delivery of scalable security services. This investment from GALLOS not only provides us with the capital to achieve that, but also brings in a partner who understands how to build and grow security businesses on a global scale.”

ContraForce was originally founded with an investment from DataTribe, the Maryland-based cybersecurity foundry that has invested in successful cybersecurity startups, including Dragos, Blackcloak, and Strider Technologies. Maurice Boissiere, Partner at DataTribe, added, “We think ContraForce is helping to protect the vulnerable small and mid-sized enterprise sector and are pleased with the progress they are seeing with managed service providers and MSSPs toward this. I’m looking forward to working with WIll Kilmer given his venture and operations experience in this space.”

As part of the investment round, William Kilmer, GALLOS General Partner, has joined ContraForce’s board of directors.

About ContraForce:

ContraForce transforms how managed security services are delivered by allowing service providers to jumpstart a new line of business, improve their margins and deliver better client outcomes. The ContraForce Security Service Delivery Platform decouples security services from the underlying software used to provide them and employs proprietary AI and automation to improve service delivery efficiency. As a result, service providers around the world rely on the ContraForce Spark workbench to deploy or improve their own managed security service offerings or participate in the ContraForce Storm commercial program to have qualified providers deliver security services on their behalf. ContraForce is a member of the Microsoft Intelligent Security Association and is the 2024 Microsoft Security ISV of the year.

About GALLOS:

GALLOS Technologies is a venture studio and investor that builds and invests in cutting-edge security technology companies. Leveraging decades of nation-state-level security, intelligence, and defense experience, GALLOS brings a unique perspective on the technologies that companies and governments should deploy to mitigate global threats. GALLOS combines this insight with expertise in building and scaling successful ventures to create optimal outcomes for portfolio companies and investors.

About DataTribe:

DataTribe is a cybersecurity foundry that leverages deep experience and expertise to build and launch successful product companies. With a team comprising Silicon Valley and Intelligence Community founders, investors, and experienced entrepreneurs, DataTribe provides the knowledge and resources necessary to build thriving startups in the cybersecurity space.

Logo: https://mma.prnewswire.com/media/2545834/ContraForce_Logo.jpg

SOURCE ContraForce

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