• Housing + health innovator’s strategic partnerships with largest D.C. Medicaid MCO and national affordable housing provider address health disparities faced by low-income residents through on-site care coordination
• With millions losing access to critical health benefits during Medicaid redeterminations, Ounce helps enroll eligible individuals and families in health insurance and vital government assistance programs
• Medicaid is suffering from a lack of innovation; investment in Ounce represents a significant step towards introducing transformative solutions that improve outcomes and achieve health equity

WASHINGTON, Oct. 5, 2023 — Ounce, a company bridging the gap between health and housing, today announced it has raised $5.2 million in seed funding and partnered with AmeriHealth Caritas D.C. and National Housing Trust to bring care coordination and wraparound services to over 2,000 residents of affordable housing across 9 properties in D.C. The funding round was co-led by Meridian Street Capital and Flare Capital, with participation from: Chelsea Clinton’s Metrodora Ventures, Wilshire Lane Capital, Chris Nassetta (Hilton CEO), Taylor Justice (Unite Us cofounder), and others.

Today, more than 300,000 D.C. residents are enrolled in Medicaid and approximately 27,000 low-income D.C. households face housing hardship. Making matters worse, as of June 21 this year, Medicaid redeterminations have resulted in 3,000 D.C. residents losing access to critical health coverage. Access to health insurance and a safe and affordable place to call home is fundamental to many areas of life, including school performance, job retention, physical and mental health, and economic security. Medicaid managed care organizations (MCOs) are committed to improving health outcomes for this population, but struggle to engage them due to factors such as invalid or frequently changing contact information, lack of trust in the healthcare system, limited access to transportation, low health literacy, and inadequate childcare support.

To address these issues, Ounce embeds its team of trained Community Health Workers (CHWs) within affordable housing properties where they directly connect and regularly engage with residents, building trusted relationships over time. The CHW model is widely recognized as playing a crucial role for Medicaid beneficiaries by providing personalized support, education, and guidance that empowers individuals to navigate complex healthcare systems, adhere to treatment plans, and address social drivers of health, ultimately leading to improved health outcomes.

Ounce CHWs evaluate residents for gaps in care, host onsite health clinics and screenings, enroll residents in public benefits like Medicaid, SNAP and disability, and connect residents to healthcare and social services, including scheduling primary care and pediatric appointments or helping residents apply for rental assistance. This approach benefits not only residents and Medicaid MCOs, but also property owners, who choose to work with Ounce because it’s a scalable solution that can help them demonstrate positive health and social impact from their property services.

“There is an enormous gap between health plans and where their members spend over 70 percent of their time – their homes. Our highly trained team leverages technology to conveniently engage people where they are, deliver impactful services, and lower healthcare costs for residents and insurers,” said Rachel Munsie, co-founder and CEO, Ounce. “Our success is largely due to the trusted relationships we’re uniquely able to build with residents and the convenience of our services, all delivered within the existing community infrastructure. Our integration with the properties and our proximity to residents gives us the opportunity to quickly intervene with support when we see red flags like eviction notices or other indicators for housing instability, which has clear links to healthcare outcomes.”

Ounce chose to launch its services in Southeast D.C. before expanding to the rest of the city. Southeast D.C., which is predominantly Black, has higher rates of poverty and gun violence due to chronic underinvestment and has been identified as both a food and healthcare desert. Despite these challenges, Ounce was able to engage and enroll over 30 percent of residents into its program just months after launching, immediately expanding access to care and critical benefits where it’s needed most. Ounce has since maintained engagement rates that are significantly higher than the single-digit rates typical of traditional care models. As a result of this high level of direct engagement, residents who get support from Ounce receive, on average, multiple services at a time. High engagement rates can also be attributed to Ounce’s practice of recruiting CHWs who are from or deeply familiar with the communities they serve.

“We are proud about our partnership with Ounce to better engage and serve our enrollees right where they live,” said Karen Dale, Chief Diversity, Equity, and Inclusion Officer and President & CEO, AmeriHealth Caritas D.C. “Through their community-based presence, Ounce is significantly extending our reach, closing gaps in care, and driving improvements in health equity. We are also appreciative of the work Ounce is doing to educate residents about Medicaid redeterminations and support them in navigating the process.”

In addition to its close partnership with AmeriHealth Caritas D.C., Ounce has partnered with the National Housing Trust, a nonprofit organization that focuses on preserving and improving affordable homes for low-income families. “By combining our expertise in affordable housing preservation with Ounce’s innovative approach to resident services, we are creating a transformative impact on the well-being of our communities, ensuring that quality housing and comprehensive health support go hand-in-hand,” said Priya Jayachandran, CEO of the National Housing Trust.

Ounce also works closely with D.C.-based providers such as C3Cares and Urgent Wellness, along with several local community organizations including: Bread for the City, Capital Area Food Bank, Giant Healthy Living, Latin American Youth Center, Martha’s Table, So Others Might Eat, UPO Workforce Institute, and many more.

Investor Comments
“Safe, stable housing should mean more than just a roof over your head. It should also mean a healthy and health-promoting environment. Ounce, through their vision of affordable housing with wraparound services, directly addresses and strengthens the link between housing and residents’ health and well-being. We couldn’t be prouder to support Ounce as they play a real role in the work to move us closer to a more equitable, healthy and just society.”

–  Chelsea Clinton, Co-founder, Metrodora Ventures

“Ounce represents a paradigm shift in how we address the interconnected challenges of health and housing. Recognizing the profound impact of social drivers of health on individual well-being, Ounce’s model brilliantly converges healthcare and housing solutions. We believe that by investing in Ounce, we’re backing a pioneering approach that can redefine health for underserved communities like those living in affordable housing. Their innovative vision aligns with our commitment to transformative solutions that have both social and economic impact.”

–  Scott Law, General Partner, Meridian Street Capital

“While healthcare advancements continue at a rapid pace, addressing foundational needs like housing has often been overlooked. With Ounce, we see a groundbreaking synergy between housing and health, ensuring residents not only have a place to call home but also access to comprehensive health resources. At Flare Capital Partners, we’re always in search of disruptive solutions that challenge the status quo. Ounce’s approach does just that, filling a critical gap in the healthcare ecosystem, and we’re excited to be part of this transformative journey.”

–  Vic Lanio, Partner, Flare Capital Partners

About Ounce

Ounce is on a mission to empower healthy and thriving communities by building bridges between housing and health. Ounce provides on-site care coordination and wraparound services to 2,000 residents of affordable housing across 9 properties in D.C. Learn more at: www.ounceofcare.com

Media contact:
[email protected]

SOURCE Ounce

The round, led by Emergence Capital, will accelerate growth for the first and only product that brings real, customizable data into live demos

SAN FRANCISCO, Oct. 5, 2023 — Saleo, creator of the first and only live demo automation platform, announced today that it has raised $13 million from Emergence Capital and Tech Square Ventures to help revenue teams create unprecedented demo experiences with real data that are so personalized for prospects, they’ve been shown to cut sales cycles in half.

Saleo Live^™ transforms any SaaS demo environment to create tailored, data-complete live demos that harness the authentic product without creating a clone or copy. This ensures full functionality of the native app while creating the most compelling demo experience possible. What used to require days or weeks of data creation, design, personalization, and demo maintenance can now be created in moments – and be adjusted by sales in real-time to tell the strongest, most up-to-date story and close more deals.

Saleo Live – Introductory Video

These dynamic live demos are made possible by Saleo’s generative AI-driven modeling engine, which syncs with the existing native software product to populate, create, and update realistic data inside the existing demo environment. With no code required, sales teams can modify any piece of data to personalize a demo, and have the entire interface and demo flow accurately, reflecting the change.

Leading SaaS companies like Outreach, Drift, Clari, Zuora, and Salesloft are harnessing Saleo Live^™ to revolutionize their GTM motions, minimize demo prep time, reduce engineering costs to support their sales teams, and maximize the value of their product offerings.

Saleo-powered demos have proven to be dramatically more effective than the status quo, cutting both sales cycles and demo prep time by 50%, increasing pre-sales NPS 2x, and boosting deal win rates by 74% on average. Before implementing Saleo, sales engineers at customer companies were spending 3.5 hours a week on demo maintenance – a figure that went to zero after. These efficiency gains couldn’t be more vital in an economic atmosphere that has hit SaaS revenue hard.

“With Saleo, we’ve reduced our weekly demo maintenance time by 100%,” said Ryan Splain, Principal Demo Solutions Engineer at Salesloft. “NPS for our global presales team jumped from 4.5 to 9/10, and the Salesloft product has never looked more relevant, data complete, or valuable – something we couldn’t have done without Saleo.”

The Saleo team is excited to expand the platform in the near future, bringing the deep technical work it invested in building its live demo product to solve more pre-sale needs. As the AI engine progressively learns from new data, on which the modeling engine is built, new capabilities will emerge and Saleo’s moat is poised to grow.

“This team has invested an incredible amount of time engineering something extremely complex and difficult to achieve, while making it simple and accessible for users,” said Joe Floyd, General Partner at Emergence Capital, who led the deal for the firm. “As a result, each of Saleo’s customers can harness the power of personalized live demos that are always current and tailored. This technical advantage gives Saleo a huge head start, and already positions it as a leader in the demo automation category.”

Saleo was started in 2021 by Co-founder & CEO Justin McDonald, Co-founder & CPO Daniel Hellerman, and Co-Founder & Lead Engineer Alexey Svetliakov – all of whom have years of experience at leading sales-oriented SaaS companies and deep empathy for the biggest challenges facing modern sales and marketing teams.

“We’ve worked for years to perfect our AI modeling engine so that it represents a true breakthrough in how demos work — from how they’re created and maintained, to the impact they make on sales and revenue,” says Saleo Co-founder & CEO Justin McDonald. “This has helped us attract some of the biggest brands in SaaS as customers, and with this round, we’re excited to be solving this deeply felt GTM problem for many more teams.”

The team plans to use this new round of funding to expand its product and engineering output, build up its go-to-market organization, and accelerate fast to reach customers everywhere with both its Saleo Live^™ and Capture^™ products.

About Saleo

Saleo is the first live sales demo experience platform helping software companies create incredible demos that are data-complete, directly within their live SaaS products. We help revenue teams shorten their sales cycle, increase win rates and close more deals by removing the burden of missing data, outdated demo environments, and time-consuming demo prep.  Leading SaaS companies like Salesloft, Zuora, Outreach, Clari, and Drift depend on Saleo to elevate their sales demos and to drive pipeline. Saleo is headquartered in Atlanta, Georgia. For more information, visit www.saleo.io.

SOURCE Saleo

Norwest Venture Partners-Led Series B Funding Will Support Expansion of Collaborative Care Model to Help Health Systems Deliver Patient-Centric Care and Sustained Operational Growth

NEW YORK, Oct. 5, 2023 — Diana Health, a network of modern women’s health practices that partner with hospitals to reimagine the way women’s healthcare is delivered, today announced that it has closed $34 million in Series B financing led by Norwest Venture Partners.  Existing investors .406 Ventures, LRVHealth and AlleyCorp joined the round, bringing the total raised to $46 million. The company will use the new capital to bring its individualized, comprehensive care model to new communities across the U.S. and expand its digital platform and program offerings.

The U.S. is facing a maternal health crisis. Despite spending $111 billion on maternity care annually, mortality rates in the U.S. are two times those of other developed countries and the patient experience is inadequate. In addition, access to labor and delivery (L&D) services is waning. More than 400 hospitals have closed their L&D units between 2016-2020. Putting even more pressure on an already-strained system, a growing shortage of obstetricians and gynecologists is expected to reach 22,000 by 2050, according to the American College of Obstetricians and Gynecologists.

Diana Health provides an evidence-based care model that directly addresses these challenges. Diana Health partners with hospital and health system leadership to restructure their women’s health programs with a clinical redesign of labor and delivery. The model delivers a tech-enabled, holistic care experience for women and families, deploying integrated care teams of Certified Nurse Midwives, OB/GYNs, mental health and wellness providers. Diana Health’s approach helps hospitals improve health outcomes, lowering rates of cesarean section and neonatal intensive care unit admissions; while also addressing the operational and financial challenges hospitals grapple with each day.

“We know that women want individualized, comprehensive care that puts them in the driver’s seat of their own health and improves outcomes. It is also how most providers want to practice,” said Kate Condliffe, co-founder and CEO of Diana Health. “Health systems that partner with Diana Health are redesigning their existing practice structure and their workforce to align with these principles. This sets their programs up for growth and sustainability, earning the loyalty of patients by delivering better care.”

Diana Health currently operates three sites in Tennessee in partnership with HCA TriStar StoneCrest Medical Center, HCA TriStar NorthCrest Medical Center and Cookeville Regional Medical Center. The company will open three new sites in Florida in the next six months. 

“Diana Health has developed a solution that aligns interests across stakeholders, delivering value for women, payers, providers and health systems. Its unique approach restructures the core healthcare delivery model, giving hospitals a competitive advantage that earns patient loyalty through better experiences and outcomes, and helps lower costs and risks attributed to inadequate care and unnecessary medical procedures,” said Irem Rami, principal at Norwest Venture Partners and board member at Diana Health. “The team at Diana Health has made tremendous progress to date. We look forward to bringing their solution to more communities as Diana Health expands nationwide and provides greater high-quality access to maternal and gynecological care.”

About Diana Health
Diana Health is a network of modern women’s health practices working in partnership with hospitals to reimagine the way maternity and women’s healthcare is delivered. With personalized, wellness-focused care programs, Diana Health puts women at the center of decision-making and empowers them with the information and support they need to achieve their health and wellness goals. Diana Health goes beyond the traditional approach to healthcare through smart technology, collaborative teams, and a thoughtfully designed experience that is beneficial for both women and clinicians. The company has raised a total of $46 million, including the latest Series B round led by Norwest Venture Partners and joined by .406 Ventures, LRVHealth and AlleyCorp. For more information, visit heydianahealth.com.

SOURCE Diana Health

The investment will enhance CES program offerings to eliminate barriers to K-12 learning and the teaching profession 

BALTIMORE, Oct. 5, 2023 — Today, Concentric Educational Solutions (CES), the leading Black-owned education support system that partners with schools to offer resources to address barriers impacting students, families, and staff, announced $5 million in Series A funding from New Markets Venture Partners (New Markets), one of the nation’s leading education and workforce investors. In total, Black founders have received less than 1 percent of venture capital (2021). With this funding, the company will hire and accelerate growth and build out its suite of services and philanthropic foundation to support students in their homes and in schools. 

According to a recent study, the number of chronically absent students has as much as doubled nationwide since the COVID-19 pandemic, and schools have struggled to help students and families rebuild consistent attendance habits. Furthermore, earlier this month, the U.S. Department of Education announced its redoubling efforts and redeploying resources to combat chronic absenteeism.

In order to improve regular school attendance among low-income and minority students, CES has established a proven reputation in schools by effectively combating chronic absenteeism during the pandemic. The unique, evidence-driven approach is centered on student home visits, and mentoring and tutoring within a child-centered framework. Student progress is shared through CES’ mobile app with real-time data and information with parents, educators, and administrators to support the student.

To date, CES has partnered with over 200 schools and districts such as Baltimore City Public Schools, Anne Arundel County Public Schools, and Wayne RESA (MI). The impact has yielded remarkable improvements in attendance and students’ academic outcomes including 59,500 tutoring sessions, 24,800 mentoring sessions, and close to 400,000 home visits with almost 200,000 students served.

“We’ve witnessed transformative changes in the lives of students, teachers, and superintendents who have entrusted us as their partner in enhancing student engagement,” said Dr. David Heiber, CEO of Concentric Educational Solutions. “The financing from New Markets Venture Partners will broaden the reach of our work including home visits, tutoring, and mentoring programs, along with coaching for teachers and staff and mental health support services to address the whole child. We are proud to double down on our commitment to address one of the most critical challenges in education today—student absenteeism. Our aim is to ensure that students not only attend school regularly but also feel a sense of belonging and thrive academically, regardless of the barriers they may face.” 

Praised by school principals and superintendents for their successful turnaround model, which prioritizes meeting students where they are, whether at home or in school, CES fosters a sense of belonging, agency, and self-belief in students.

“Concentric Educational Solutions firmly believes in the potential for every student to succeed,” said Dr. Daryl Kennedy, Regional Assistant Superintendent, Anne Arundel County Public Schools. “Their comprehensive framework which revolves around the students themselves, has had an immeasurable impact on both our students and their families. The emphasis on home visits and a deep understanding of each student’s background establishes a support network, addressing both their well-being and academic needs.”

Furthermore, in a commitment to ongoing research and efficacy, CES partnered with the Center for Research and Reform in Education (CRRE) at Johns Hopkins University to conduct comprehensive ESSA Level III studies within the Baltimore City Public Schools system to meet federal compliance. The Every Student Succeeds Act (ESSA) outlines four levels of evidence and mandates districts and states to use federal funding and stimulus dollars for “evidence-based interventions.” The research team compared the academic achievement, attendance rates, and behavioral outcomes of students enrolled in these programs with a carefully selected comparison group of students who were not enrolled. The research concluded that CES demonstrates “Promising” evidence for improving student outcomes.

“Concentric Educational Solutions’ mission aligns perfectly with New Markets Venture Partners and we are excited to be working with David and his expanded leadership team so that they can scale their proven interventions and improve student outcomes,” said Mark Grovic, Co-Founder and General Partner of New Markets Venture Partners who will also join CES’ board of directors. “Since their inception, Concentric Educational Solutions has consistently proved their model through decreased chronic absenteeism, behavioral incidents, and out-of-school suspensions, as well as increased student re-engagement and improved mental health. New Markets’ investment will allow Concentric to continue to deliver their impactful solutions while expanding their team, scale, breadth, and efficacy of their offerings to empower educators and drive student success.”

For more information about Concentric Educational Services, please visit www.concentriced.org.

ABOUT CONCENTRIC EDUCATIONAL SOLUTIONS
Concentric Educational Solutions (CES) was founded with the mission to support students, families, and schools by identifying barriers that negatively impact education and provide resources and services to improve student outcomes. Currently, Concentric Educational Solutions provides home visits, mentoring, tutoring, professional development, school culture and climate, student support services, technical assistance, the multi-tier system of support (MTSS), as well as social and emotional learning.

CES partners with schools and school districts to assess the situation and determine a course of action for implementing sustainable change. Addressing the four components (Organizational and Leadership Development, School Culture and Climate, Student Support Services, and Special Education Support) with a focus on student achievement, Concentric applies a structured process for tracking and evaluating improvements quickly while leveraging the existing supports within an organization at every level.

Founded and led by Dr. David Heiber, Concentric Educational Solutions was one of the first Black American-led organizations to receive funding from NewSchools Venture Fund. Under Dr. Heiber’s leadership, CES has been recognized for its innovative approach that places support of the whole student at the center of the educational experience. Dr. Heiber and his team have partnered with over 300 schools in 20 states. For more information, visit www.concentriced.org. 

ABOUT NEW MARKETS VENTURE PARTNERS
New Markets Venture Partners is one of the nation’s leading impact venture capital firms, investing in and actively assisting early- and growth-stage education and workforce technology companies. New Markets has decades of experience supporting evidence-based, high-growth companies that improve economic and social mobility by leveraging deep relationships with centers of education, workforce, and human capital innovation. New Markets prides itself on adding value to its portfolio companies before, during, and after the investment process, with the ultimate goals of delivering superior risk-adjusted returns to its investors and improving both individual outcomes and America’s education and workforce system as a whole. 

Media Contact:
Stacey Finkel
[email protected]
703-304-1377

SOURCE Concentric Educational Services

NEW YORK, Oct. 5, 2023 — Firmament, a provider of customized debt solutions to both sponsor and non-sponsor backed middle market businesses, announced today an investment in LightRidge Solutions Holdings LLC (“LightRidge” or the “Company”). LightRidge is one of the leading providers of space technologies and defense mission solutions primarily for the U.S. national security community.

Trident represents the third acquisition for the LightRidge platform, which was formed in 2021 with a mission to fulfill the growing need for technology-forward, high-performance yet cost-effective national security solutions. LightRidge’s existing portfolio includes GEOST, one of the leading providers of advanced space payloads acquired in 2021, and Ophir Corporation, a provider of advanced laser sensing solutions primarily to the stealth aircraft market, which was acquired in 2022.

Trident is highly complementary with LightRidge’s portfolio and is well known for its reliable, resilient, and open-architecture space electronics encompassing multi-function, radio-frequency processors, software-defined radios, on-board processors, and data storage solutions for demanding military space missions. The company has also been a trusted and long-term partner for innovative, affordable C4ISR solutions that address mission-critical needs across the air, land, and sea domains.

LightRidge will continue to build on Trident’s track record of innovation and investment in new solutions, leveraging an expanded base of engineering and science talent, and will further increase Trident’s production capacity. As part of LightRidge, Trident will be able to offer a broader range of high performance, affordable sensing and computing solutions and support the development of automated mission solutions.

About LightRidge Solutions
LightRidge provides advanced sensing, data processing, and autonomy solutions for demanding missions at an order of magnitude lower cost than traditional systems. Its high-performance space payloads and electronics in small form factors enable the proliferation of resilient and affordable space architectures for the U.S. military and intelligence communities, as well as selected commercial and international customers. Dedicated to the rapidly evolving needs of our U.S. government and industry partners, LightRidge is transforming mission autonomy, resiliency, and survivability, ISR, and multi-domain connectivity solutions for some of the nation’s most challenging missions.

About Firmament
Firmament (www.firmament.com) provides structured equity and credit capital solutions to small- and medium-sized enterprises. Firmament is a value-added partner to entrepreneurs, management teams and business owners and curates solutions by deploying versatile capital in a user-friendly way. Firmament concentrates on software and services businesses with significant scaling potential in the healthcare, logistics and environmental sectors. With offices across the United States and in the United Kingdom, Firmament is focused on turning small business into big business.

Media Contact:
Allie Reitman
media@firmament.com

SOURCE Firmament

YOKNE’AM ILLIT, Israel, Oct. 5, 2023 — After hitting fundamental milestones since the last financing round, Phytolon secures additional funding to support its commercial activities toward the first launch of its natural food colors (made by fermentation) in the food and beverage markets.

The investors include Nextgen Nutrition Investment Partners (NGN) supported by Dunedain Ventures. NGN is led by James Cali and Andrew Towle who bring vast experience in the global CPG industry. Two of the company’s shareholders also invested: EIT Food, a major entity that promotes and accelerates innovation in the food systems, and Phytolon’s Chairman Mr. Steve Dubin who has been guiding the company since its early stages.

Since closing Round A in the summer of 2022, Phytolon recorded significant progress in its path to commercialization and signed a commercial deal with DSM-Firmenich to distribute its wide range of natural food colors. Further, Phytolon extended its supply capabilities and has put in place a manufacturing agreement at an industrial scale with a CMO that ensures resilient supply to clients. Phytolon has also commenced an in-house facility for production and supply at a pilot scale and enriched its in-house capabilities for developing and scaling natural ingredients by fermentation.

Phytolon’s CEO, Halim Jubran, commented on the transaction: “Due to the progress that we have made in the last two years, we are gaining more and more trust from top players in the global F&B industry, now perfectly demonstrated by the latest investments. We are excited to welcome our new partners, NGN, and strengthen our partnership with EIT Food and Mr. Steve Dubin, who have played crucial roles in the company’s growth and success.”

NGN’s James Cali, said: “We believe Phytolon is perfectly positioned to create significant value in the food colors space with their advantaged, proprietary technology, and wide range of color options which address rapidly growing requirements for natural,  free-from ingredients by consumers and industry. This is especially important with the movements in regulations related to food colors in California.”

Matthias de Kock, Senior Investment Manager at EIT Food added: “EIT Food recognized Phytolon’s potential from the outset and invested early on. Today, we’re excited to witness this game-changing innovation in natural food colors unfold and we look forward to supporting Phytolon in its future stages of growth and innovation.”

About Phytolon:

Phytolon is a biotechnology company that offers natural food colors via fermentation-based technologies. Leveraging its unique IP and capabilities, Phytolon provides to the industry natural food colors at their best shape, complying with the consumers’ demand for clean label, healthy, and sustainable food systems. Phytolon has been based in Israel since 2018 and is supported by world-class business partners and investors.

About NGN:

NextGen Nutrition Investment Partners is an emerging investment manager focused on Technologies and Products that offer Disruptive Superior Nutrition to the Global Food Industry. They focus on three main parts of the enormous food sector: food technology, functionally superior ingredients and healthy branded products. Andrew Towle and James Cali are experienced executives with over 60+ years of managerial and operational experience in the food and beverage industry at firms such as Kraft/Mondelez, Kellogg’s, P&G, Heinz, and Cadbury’s. They are widely regarded as knowledgeable operating partners that understand the fundamentals of operating food & beverage companies both in the LIS and internationally, and the requirements needed to help young companies bring their products to the next level in the market.

About EIT Food:

EIT Food is the world’s largest and most dynamic food innovation community. We accelerate innovation to build a future-fit food system that produces healthy and sustainable food for all. Supported by the European Institute of Innovation and Technology (EIT), a body of the European Union, we invest in projects, organizations, and individuals that share our goals for a healthy and sustainable food system. We unlock innovation potential in businesses and universities and create and scale agrifood startups to bring new technologies and products to market. We equip entrepreneurs and professionals with the skills needed to transform the food system and put consumers at the heart of our work, helping build trust by reconnecting them to the origins of their food.

www.phytolon.com 

Email: [email protected] 

Photo – https://mma.prnewswire.com/media/2238438/Phytolon.jpg

SOURCE Phytolon

RALEIGH, N.C., Oct. 5, 2023 — 10 Federal, a prominent and innovative leader in the self-storage sector, proudly announces a highly successful capital infusion of $21 million in equity during the third quarter for their Fourth Self Storage offering. This achievement has propelled 10 Federal’s total capital raised for its fourth offering to an impressive $80 million, approaching the company’s ambitious $100 million year-end target.

“We are excited to share that we have successfully secured an additional $20 million in equity funding during the third quarter, bringing our total capital raise to $80 million within just nine months since the inception of this offering,” stated Brad Minsley, Co-Founder of 10 Federal. “This substantial capital infusion empowers us to continue executing our growth strategy and expanding our presence and economies of scale in highly sought-after markets.”

Aligned with 10 Federal’s strategic expansion goals, the offering currently boasts 12 assets, including a recent acquisition of a prime development opportunity in Georgetown, TX, one of the nation’s fastest-growing cities. This strategic move reaffirms the company’s unwavering commitment to meeting the surging demand for self-storage solutions in dynamic markets.

“We are thrilled about acquiring this development opportunity,” said Andrew Capranos, President of 10 Federal Storage. “This addition further solidifies our presence in the state of Texas and enables us to deliver top-quality self-storage solutions to address the growing demand in Georgetown and its neighboring areas.”

Moreover, 10 Federal is pleased to report robust performance across its portfolio. The Fund 4 seeded assets in Georgia and Texas have experienced remarkable success this year, increasing market rates by over 44% since taking over these assets. Furthermore, the offering has seen a substantial 20% boost in total property revenue since assuming control of these sites in March 2023. This remarkable growth underscores 10 Federal’s commitment to optimizing asset value and delivering exceptional returns to investors.

As 10 Federal continues to expand its portfolio, the company remains steadfast in its commitment to delivering innovative storage solutions and providing frictionless customer experiences.

About 10 Federal:
10 Federal is a leading high-tech operator of self-storage facilities, specializing in fully automated properties. With a portfolio spanning 12 states and over 75 properties, 10 Federal leverages innovative technology and data-driven insights to provide exceptional self-storage experiences while delivering superior investor returns.

Website: www.10Federal.com

SOURCE 10 Federal

• As Y-Combinator (YC) pulls back from Africa, Baobab doubles down on its early-stage investment strategy across Africa
• New cohorts to receive $100,000 investment each, up from $50,000, with launch of Baobab’s Co-investment Vehicle
• Baobab portfolio now up to 45 startups across 15 countries

NAIROBI, Kenya, LAGOS, Nigeria, and LONDON, Oct. 5, 2023 — Baobab Network (“Baobab”), an early-stage investor and accelerator that backs technology companies across Africa, has this week announced that they intend to invest in 1000 companies between now and 2033.

Having launched their accelerator in 2019, Baobab has consistently been one of the most active investors across Africa, backing locally led companies from day one. The accelerator provides $100,000 in funding for each company, as well as a 12-week accelerator designed to set each business up for scale.

Announcing their latest 5 investments, Toby Hanington (Co-founder, Baobab) said they now have the platform to dramatically scale the number of investments they review and execute across Africa.

Baobab’s new cohort includes Brandrive, PocketFood and Bunce (all Nigeria), as well as Kawu (Uganda) & Alal (Senegal). Each company has received $50,000 directly from Baobab, with another $50,000 investment from their newly launched Co-Investment Vehicle.

YC retreating, and other market dynamics behind Baobab’s bullishness

Africa has not been immune to global market dynamics, but Baobab continues to be one of the most active pre-seed investors in Africa. Baobab Network has already completed 10 deals this year, with another larger cohort expected in Q4.

Additionally, Baobab recently hired Niama El Bassunie as Managing Partner – a YC alumni and one of Africa’s only exited entrepreneurs.

Baobab counts a number of global business leaders, institutions and investors amongst its investor-base, committed to supporting Baobab’s future as a multi-product asset management platform, driving the next generation of technology companies in Africa.

About Baobab Network

Baobab Network is an early-stage investor and accelerator that backs technology companies across Africa. Launched in 2016, and based out of offices in Nairobi, Lagos and London, Baobab is a sector and geographically agnostic investor within Africa, and entrepreneurs that join Baobab’s accelerator receive $100,000 USD in funding as well as access to a global network of partners and co-investors. Baobab’s vision is to build a multi-product investment business, investing in 1000 startups in Africa over the next 10 years.

For more information, media enquiries or to get in touch with the Baobab team, send an email, visit the website or follow on LinkedIn. Email: team@thebaobabnetwork.com

© Baobab Network 2023 | All Rights Reserved

SOURCE Baobab Network

CMCC Global raised USD100m to launch a new venture capital fund that will empower entrepreneurs in Hong Kong and beyond to build innovative Web3 companies.

HONG KONG, Oct. 4, 2023 – Hong Kong’s push towards Blockchain enabled Fintech and Web3 innovation received strong tailwind through a new fund that CMCC Global launched this week. CMCC Global, one of Asia’s earliest venture capital investors to entirely focus on blockchain technology and Web3 innovation, today announced the launch of a new venture fund that will empower entrepreneurs to build companies in the space. The fund, which invests into the equity of blockchain companies as opposed to digital assets, is called Titan Fund and will focus on early-stage start-up investments along the three key verticals of Infrastructure, Fintech, and Consumer applications such as gaming, metaverse and NFTs.

The Titan Fund has reached its fundraising target of USD100m in the first close and is supported by a number of world leading blockchain investors. The anchor investor is Block.one (B1), which committed USD50m to the fund, CMCC Global itself participates with a 15% GP commitment, alongside notable investors such as Richard Li’s Pacific Century Group, Hong Kong’s Jebsen Capital, Winklevoss Capital, alongside personal investments from notable innovators such as Yat Siu from Animoca Brands and other prominent blockchain entrepreneurs.

“CMCC Global has been one of the earliest venture capital investors in the industry and their team has built a strong track record in identifying future winners,” said Brendan Blumer, founder of B1, Bullish and other notable blockchain companies. “At B1, we have developed and innovated on blockchain software solutions, pioneered scaling solutions and incubated new technologies that build trust and increase efficiencies in Web3. The Titan Fund shares these goals and will support a new generation of entrepreneurs as they build the next wave of leading companies in our industry.”

To launch and run the fund, CMCC Global was joined by a new managing partner, Yen Shiau Sin, who joined from his previous role as Director, Strategic Investments at B1. Prior to his role at B1, Yen ran a Fintech fund for CLSA and began his career in investment banking (M&A) at UBS in Hong Kong and New York. The team is further complemented by Investment Principal Jonathan Cheung, who has joined the Titan Fund investment team from Brevan Howard Digital. CMCC Global’s Co-founders Charlie Morris and Martin Baumann are co-managing the fund and sit on the investment committee.

The Titan Fund is an institutional grade fund with State Street as the fund administrator and EY as the auditor. The fund is managed by Fintech Investment Group Limited, a wholly owned Hong Kong based subsidiary of CMCC Global, which has been granted respective asset management licenses from Hong Kong’s Security and Futures Commission.

“We are excited to have B1 as the anchor investor in our Titan Fund,” said Martin Baumann, co-founder of CMCC Global. “Having worked closely together for several years at various investment deals we have found tight alignment in our investment approach and numerous synergies through shared investments. B1 has been a pioneer in the digital asset space and this strategic investment in the Titan Fund will further our mission to accelerate innovation in blockchain technology and the digital asset ecosystem.”

As part of this strategic investment, B1 will also become a minority shareholder in CMCC Global’s holding entity which is backed by notable investors including Hong Kong tycoon Richard Li and Gemini Trust Co-founders Cameron and Tyler Winklevoss.

“Having B1 joining CMCC Global’s holding company as part of this transaction will be a valuable addition to the cap table and will unlock strategic potential for both companies down the road,” added Daniel Wong, who oversees the investment into CMCC Global’s holding entity for Pacific Century Group.

“The Titan Fund will accelerate Web3 innovation in Hong Kong and beyond. CMCC Global and their team are known to be conviction driven investors that have identified numerous breakthrough innovators early on,” added Yat Siu, founder of Animoca Brands, who received one of the first investments from the Titan Fund via a warehoused deal into his Mocaverse project. Other warehoused deals include the Hong Kong company Terminal 3, a blockchain-based digital identity company which was founded by Hong Kong entrepreneurs Gary Liu, Malcom Ong and Joey Liu. International deals warehoused for the fund include Informal Systems, founded by crypto veteran and Cosmos Co-founder Ethan Buchman, NFT ecommerce platform KickzMeta and its Mooncourt, as well as a San Francisco based Y-combinator team that has set out to revolutionize the tokenization process for enterprises and assets.

“The Titan Fund will empower great entrepreneurs to build the next wave of Web3 and blockchain powered fintech applications,” added Cameron Winklevoss co-founder of Gemini. “The last five years have seen a set of new unicorn companies emerge, the next five to ten years will see this trend continue to accelerate as mainstream adoption of blockchain technology proliferates.”

“With extremely high internet penetration and a relatively large unbanked population, Asia is primed to experience an explosion in consumer adoption of Web3 applications. Already, a third of global blockchain deals originate out of Asia today and this is a growing trend. Our Titan Fund is well positioned to capture value in the region,” concluded Charlie Morris, who is Co-founder of CMCC Global and runs the North American business.

About CMCC Global

CMCC Global is one of Asia’s first venture capital companies focused solely on blockchain and Web3 investments. CMCC Global has an enviable record of investing early in leading projects such as Ethereum (ETH) at USD7, Solana (SOL) at USD0.20 and Cosmos (ATOM) at USD0.10. CMCC Global has reached assets under management (AUM) of over USD500 million across its funds and is known as a high-conviction investor. Today the company has offices in Asia, North America and Europe and operates several funds with different strategies including the CMCC Global Digital Asset Fund, the Titan Fund and its two funds of quantitative trading hedge funds Crest and SYZCrest.

More information can be found at www.cmcc.vc 

About Titan Fund

Titan Fund offers accredited investors exposure to attractive growth opportunities within the blockchain ecosystem through a traditional equity venture capital investment strategy focusing on seed to series A/B along the key investment verticals of Infrastructure, Fintech and Consumer Applications. The Titan Fund is CMCC Global’s latest fund strategy and complements its Digital Asset Funds, which have been investing directly into protocols and digital assets since 2016, and its Crest family of funds that invests into crypto quant funds.

More information can be found at www.titan.fund

SOURCE CMCC Global