Ohio Fund Brings Together Network of Nearly 50 Angel Investors to Fill Critical Funding Gap for Enterprise Software and Advanced Technology Companies

COLUMBUS, Ohio, Aug. 27, 2025 — Today, 71/70 Angels, the Ohio angel fund that invests in enterprise software and advanced technology startups nationwide, is announcing the close of Fund I. The inaugural fund brings together an expansive network of nearly 50 angel investors, including seasoned as well as first-time investors who bring new capital and fresh perspectives into early-stage investing. 71/70 Angels is filling critical funding gaps in the Midwest startup ecosystem, delivering support for early-stage companies with high-growth potential. The fund has come out of the gate strong, by already funding two local companies.

“71/70 Angels is built with a founder-first ethos, blending a streamlined process with Midwest grit and values,” said Melinda Gloriosa, Managing Director at 71/70 Angels and Rev1 Ventures. “With this first fund closed and our early investments underway, we’re taking action—backing startups with capital, along with an active network of operators, funders, and functional leaders who know how to build scalable companies.”

Despite economic headwinds in 2025, investor activity remains strong. According to the Angel Investment Network, 40% of angels plan to invest more this year than last. And startups backed by angel investors show a 58% higher five-year survival rate. 71/70 Angels is tapping this momentum to strengthen the Midwest’s innovation economy and open new pathways for both founders and investors.

In the first 90 days since its close, 71/70 Angels Fund I has already made two investments in high-growth companies including Ohio-based AI-driven marketing intelligence company, Nichefire, and a developer of next-generation technology for data privacy.

“I see angel investing as a powerful way to give back and help diverse entrepreneurs get the funding, mentorship, and networks they need to succeed,” said Laura MacDonald, 71/70 Angel Fund investor. “71/70 is already energizing the angel investor community in Central Ohio and I know it will have a significant impact on startups nationwide.”

“This is about growing a culture of innovation and entrepreneurship, while giving angel investors a strong connection to the next wave of transformative tech companies. Both new and experienced investors are directly supporting innovators, fueling job creation, economic growth, and stronger deal flow across the region,” added Michael Error, 71/70 Angel Fund investor.

71/70 Angels backs seed and early-stage companies developing high-impact solutions for large and growing markets. Powered by a dedicated network of individual angel investors and supported by Rev1 Ventures, the fund is designed to streamline the funding process and accelerate growth opportunities for entrepreneurs and investors. For more about 71/70 Angels, visit www.7170angels.com.

About 71/70 Angels
71/70 Angels is an Ohio angel fund that invests in seed-stage software companies nationwide. Based in an important tech hub, 71/70 is expanding the angel community to help more entrepreneurs close critical funding rounds. Powered by Rev1 Ventures’ decades of investment expertise, 71/70 ignites a dedicated and growing group of investors committed to supporting startup success. 71/70 combines a transparent funding process and formalized due diligence to improve outcomes for both startups and investors.

SOURCE 71/70 Angels

AUSTIN, Texas, Aug. 27, 2025 — Guild, a new platform designed to return ownership to artists and creators, is launching in public beta with $2M in pre-token financing. Unlike traditional platforms, Guild gives music creators a direct stake in their work, the network they grow, and the AI it powers.

Tech companies are racing to train AI music models, and labels are suing in their best interest alone. Once again, creators are being left out of the upside. While investors and executives get equity, those generating the IP and culture are scraping by.

Guild turns everyday creative activity into ownership. Whether it’s uploading music, engaging fans, or contributing data, artists earn “Note” tokens that give them a stake in the platform itself. Not play-to-earn, it’s create-to-own.

Music has always driven technology – from vinyl and MP3s to TikTok. But while platforms and labels capture most of the value, the creators fueling it have seen little ownership and even less control. Now, as AI and blockchain become infrastructure, the stakes are higher than ever.

“Labels often own the rights. Tech founders and employees get stock,” said Guild Founder Phillip Rather. “Guild is giving artists what no one else will: rights and ownership.” According to Spotify and Linktree respectively, only 1.7% of Artists make more than $10,000/yr, and less than 4% of creators earn a sustainable income.

Guild combines the tools creators need into a single platform:

• Smart Contracts – for on-chain provenance, IP protection, royalty splits, and gated access.
• AI Agents – to help ideate, design, post, distribute, and analyze across platforms.
• Spaces – immersive locations for rare content, community, and rewards.
• Remuneration – for artists who opt in to AI training, with on-chain attribution and fair payouts.

Importantly, Guild has pledged to:

• Restrict early token holders with cliffs and vesting – avoiding dumping and rugpulls.
• Preserve governance for contributors, not short-term speculators.

“We needed early capital to build,” said Rather. “But creators should hold the lionshare. We’ve designed a buyback and token model to make that possible.”

Guild introduces a dual-token model:

• “Note” Tokens – a fungible token earned through platform use, supporting rewards, payouts, and commerce. Over 1/3 is allocated to the community, and real accrual is visible in the dashboard.
• Access Passes – unique tokens granting lifetime access, tools, early Note allocations, IRL events, and exclusive Spaces.

This isn’t a meme economy. It’s an ownership and community layer for artists building lasting careers – forget chasing trends, signing away rights, and watching others profit from your work.

Recent moves by major platforms show licensing artist catalogs to train AI, or burying opt-outs to exploit IP without consent. Creators aren’t consulted – and rarely compensated.

Guild flips the model. Artists can opt in to contribute to training and be rewarded as a community. Attribution is on-chain. Usage is transparent. Revenue sharing is viable.

“AI isn’t going away,” said Rather. “But it doesn’t have to be extractive. With Guild, artists can help build the next generation of tools – and own the rights and the data that power them. They don’t need another app – they need a new model.”

Over 2,500 artists have helped shape Guild’s development – from early product testing to dataset curation. Goldman Sachs projects the global creator economy to surpass $480 billion by 2027.

Backers include Capital Factory, Polygon, and ex-Meta leaders. Rather left Meta as a SMB platform exec to build for the fastest growing segment today – creators. Bruce Kalmick, the Austin based Founder and CEO of WHY&HOW management and Wyatt Road Records, has boarded as an advisor.

Media Contact:
Phillip Rather
512-589-9437
[email protected] 

SOURCE Guild

Company Also Achieves Cash Flow Positive Status While Building Suite of 50+ Tools for Creator Entrepreneurs

REXBURG, Idaho, Aug. 27, 2025 — PodUp, the most feature-rich podcasting platform, announced it has raised $5.8 million across two funding rounds to accelerate development of its AI-powered podcasting platform. The company also achieved cash flow positive status in May 2025 with a 35-person team.

PodUp was founded by serial entrepreneur Nathan Gwilliam, who most recently sold Adoption.com, which was the world’s most-used adoption site. PodUp is striving to follow the Shopify model, which integrated hundreds of tools to create an all-in-one platform for e-commerce ventures. With this model, Shopify has achieved a $159 billion market cap (July 2025). Similarly, PodUp is a platform with 50+ podcasting tools, including 17 AI-powered tools to help create, grow, and monetize ventures.

The PodUp inspiration came from Gwilliam’s challenge to publish a podcast daily for a year. After discovering he needed 30+ technologies, costing nearly $2,000 monthly, Gwilliam realized: “somebody’s got to create the all-in-one platform for creating, growing, and monetizing a venture with a podcast.”

Many Successful Entrepreneurs Back Revolutionary Approach
The funding rounds attracted notable investors including North Texas Angels, Harvard Business School Alumni Angels, and other angels who recognized PodUp’s potential to transform the $35.09 billion podcasting industry.

“Nathan is a seasoned and proven founder who knows what it takes to succeed,” said Stuart Draper, Chairman of the Board. “What Shopify did for e-commerce, PodUp is doing for podcasters. These guys have created 17 AI tools that help you podcast better and faster, and they’re better than the competition. That’s why our group invested about $1.8 million into PodUp.”

Jason Barney emphasized the market opportunity: “PodUp is doing for today’s content what we did for web content creation in the 90s – making what’s otherwise very complicated and intimidating accessible to a much larger market… When I first saw this idea about a year and a half ago, I knew it was something I wanted to be part of. It has those two critical ingredients – an innovative idea that fills an important place in the marketplace, and someone who can execute and scale it.”

Elizabeth Nielsen, a board member and repeat investor, highlighted the company’s execution: “This board is fantastic. The owners and leaders are transparent, want feedback, and serve everyone at the highest level of integrity. I’ve invested not just once, but twice.”

Jeff Murphy, Executive Director of North Texas Angels, noted the investment appeal: “SaaS for podcasts is something the market really needs, and PodUp has figured out a great solution. With revenue, experienced founders, and clear exit opportunities, 12 of our investors put $147,000 into PodUp.”

Customer Success Drives Growth
PodUp’s platform effectiveness is proven through measurable client achievements, including Dr. Tamara Nall’s Lead with AI podcast, which reached #1 on Apple Podcasts in the Technology category.

PodUp’s customer, Donna Pope, founder of Heart to Heart Adoptions and host of the VoicesOfAdoption podcast, represents the platform’s impact on serious content creators. After visiting PodUp’s 35-person team in India, Pope was so impressed she committed to complete the $3.7 million seed round with a $217,000 investment.

PodUp operates PodAllies, a done-for-you podcast production, marketing and monetization agency. CEOs and other creators who want a podcast to help grow their businesses but don’t have time, can record episodes and PodAllies can do essentially everything else.

Customer testimonials reflect the platform’s transformative impact. Eileen Noyes of The Unsidelined Life Podcast shared: “They make it easy. They are helping me to grow and be part of that monetization piece. PodAllies is the way to go – it has built my confidence in knowing that the story I’ve wanted to share, I’m doing it.”

April Taylor of the Jr. Moguls Podcast added: “There’s nothing like plugging into a professional system, and that’s what PodAllies allows you to do. They literally take you by the hand and lay out everything so your podcast can be the best podcast ever.”

For more info about the PodUp platform, visit podup.com

For more info about the done-for-you PodAllies services, visit podallies.com

For media inquiries or to schedule an interview, please contact:
Nathan Gwilliam
208-252-4233
[email protected]

SOURCE PodUp

Leal Therapeutics is developing first-in-class therapeutics to correct metabolic imbalances in the brain for treatment of high unmet need CNS disorders

Financing advances LTX-001 through clinical efficacy data in schizophrenia patients, LTX-002 through initial clinical data in ALS, and progresses additional pipeline programs

WORCESTER, Mass., Aug. 27, 2025 — Leal Therapeutics, Inc., a biotechnology company developing novel therapeutics for patients with disorders of the central nervous system (CNS), today announced a $30 million Series A financing. The round was led by SV Health Investors’ Dementia Discovery Fund (DDF), in addition to existing investors OrbiMed, Newpath Partners, Chugai Venture Fund, Euclidean Capital, Alexandria Venture Investments, and PhiFund.

Leal’s approach is rooted in the core principle that correcting metabolic imbalances in the brain is key to the development of effective therapies for patients living with neuropsychiatric or neurodegenerative disorders. This approach is supported by extensive human genetics, human biomarker, and preclinical model data. Leal’s lead program, LTX-001, is a clinical-stage, first-in-class brain-penetrant oral small molecule targeting excessive glutamate by inhibiting the mitochondrial enzyme glutaminase, for patients with psychiatric disorders including schizophrenia, Bipolar Disorder, Major Depressive Disorder as well as amyotrophic lateral sclerosis (ALS). Data from an initial clinical study of LTX-001 support safety and effective target engagement. Leal is also developing LTX-002, a near-clinical stage antisense oligonucleotide (ASO) for patients with genetic or sporadic ALS. LTX-002 targets the de novo synthesis of ceramides/sphingolipids by inhibiting the first and rate-limiting enzyme in this pathway, SPT, and more specifically the SPTLC1 subunit. Excessive ceramides/sphingolipids are implicated in ALS and other neurodegenerative disorders. Leal is also developing LTX-007, a small molecule inhibitor of SPT, for neurodegenerative disorders such as Alzheimer’s disease, ALS and inherited sphingolipidoses.  In addition to the programs above, Leal is advancing next-generation technology to optimize delivery of nucleic acid therapeutics to the CNS through the blood brain barrier (BBB) using antibody-like shuttles. 

Proceeds from the Series A financing will be used to advance LTX-001 through a clinical trial in schizophrenia patients, as well as progress LTX-002 through initial clinical data in ALS. “This financing enables us to further progress our first-in-class neuro-metabolic pipeline to clinical data for patients with severe unmet needs,” said Asa Abeliovich, M.D., Ph.D., founder and chief executive officer of Leal. “We’re grateful to our new and existing investors for their shared commitment to advancing this work.”

In connection with the financing, Christian Jung, Ph.D., Partner at SV Health Investors, joined Leal’s board of directors. “Leal is advancing promising and highly differentiated programs for CNS disorders with a clear clinical strategy and a uniquely qualified team,” said Dr. Jung. “We believe the company is well-positioned to make significant strides in the treatment of neurodegenerative and neuropsychiatric diseases. We’re proud to support Leal as they take this next critical step.”

About Leal Therapeutics:

Leal Therapeutics is a biotechnology company dedicated to developing novel neuro-metabolic therapeutics for patients with high-need central nervous system disorders. Leal was launched in 2021 and is headquartered in Worcester, Mass. Leal’s lead programs address the critical intersection between CNS and metabolic disorders. The Leal team has particular expertise in CNS therapeutic development, as well as leveraging human genetics, functional genomics and biomarker analyses to support our mission. Leal has the technological capability to develop and produce small molecule as well as nucleic acid CNS therapeutics at scale.

About SV Health Investors’ Dementia Discovery Fund

SV Health Investors’ Dementia Discovery Fund (DDF) is the world’s largest family of specialized venture capital funds that invests exclusively in companies developing or enabling novel therapeutics for dementia. Dementias including Alzheimer’s Disease are arguably the largest unmet medical need with over 55m patients worldwide. With more than $600m raised for this strategy, and offices in London and Boston, DDF capitalizes on global investment opportunities to fulfill its dual mandate of delivering measurable impact and generating significant financial returns. Utilizing its network of venture partners, entrepreneurs, leading scientists, and strategic partners, DDF invests in and creates new biotech companies and provides thought leadership in the field. DDF is enabled by its cornerstone investors AARP, the British Business Bank and Gates Frontier, as well as additional limited partners, including major pharmaceutical companies and leading non-profits. For more information, please visit https://svhealthinvestors.com/DDF.

About SV Health Investors

SV Health Investors is a leading healthcare fund manager committed to investing in tomorrow’s healthcare breakthroughs. The SV funds invest across stages, geographic regions, and sectors, with expertise spanning biotechnology, dementia, medical devices, healthcare growth and healthcare technology. With more than $2bn in assets under management, and historical commitments in excess of $4bn, SV has built an extensive network of talented investment professionals and experienced industry veterans and a truly transatlantic presence with offices in London and Boston. Since its founding in 1993, SV has invested in, created and built more than 200 companies attracting global talent, entrepreneurs and pharma partners. To date, these investments have resulted in the licensing of 28 novel drugs and six new drug classes able to treat indications with unmet medical needs and deliver positive impact to patients. For more information, please visit https://svhealthinvestors.com.

Media contact:

Tehya Frank

[email protected]

347-640-1334

SOURCE Leal Therapeutics

Strategic equity investment to accelerate growth and innovation in interventional spine care.

TAMPA, Fla., Aug. 27, 2025 — PainTEQ, a leader in minimally invasive solutions for sacroiliac (SI) joint dysfunction, today announced a majority growth recapitalization co-led by Signet Healthcare Partners and Windham Capital Partners, two U.S.-based healthcare investment firms with nearly 50 years of combined investment experience in medical technology companies. This recapitalization also includes a new equity investment by MVolution Partners.

With new ownership, this strategic investment will accelerate PainTEQ’s expansion by funding prospective clinical studies, advancing development of next-generation products, and expanding the company’s U.S. commercial presence.

PainTEQ’s flagship product, LinQ^®, is a proprietary, allograft-based, drill-less SI joint implant delivered via a minimally invasive posterior approach. To date, LinQ^® has been used in over 14,000 procedures and is supported by multiple peer-reviewed clinical studies, including the SECURE study, a prospective clinical trial demonstrating improvements in pain and function alongside a strong safety profile.

Under the leadership of CEO Shanth Thiyagalingam, PainTEQ has demonstrated strong operational discipline and commercial leadership. Thiyagalingam brings more than two decades of interventional experience, including senior commercial leadership roles at Abbott, Nevro, and Stryker.

“Partnering with experienced institutional healthcare investors at Signet and Windham marks an exciting chapter for PainTEQ,” said Thiyagalingam. “With a strengthened balance sheet and new committed ownership group, we are well positioned to deliver innovative solutions for patients suffering from SI joint dysfunction and to continue building a category-leading interventional platform. We are grateful to the founding team and prior owners for laying the groundwork that enables this next phase of company growth.”

Dr. Dawood Sayed, Professor and Division Chief of Pain Medicine at the University of Kansas Medical Center and Vice Chair and Co-Founder of the American Society of Pain and Neuroscience (ASPN), commented: “This investment validates SI joint fusion as a critical treatment pathway. It will accelerate innovation and advance research, expanding treatment options in interventional spine care and making this procedure a long-term standard of care.”

David Kereiakes, Managing Partner at Windham Capital Partners, commented: “We were compelled to invest in a future that delivers safer, more effective solutions for physicians and patients. PainTEQ’s innovative, minimally invasive technology and strong leadership are exactly what the interventional spine care market needs.”

Ashley Friedman, Managing Director at Signet Healthcare Partners, also added: “We are delighted to partner with Shanth and the PainTEQ team to leverage the company’s leadership position in SI joint treatment. With additional investment in clinical studies and pipeline products, we believe PainTEQ is well positioned to become a leading multi-product interventional spine platform.”

Raymond James served as financial advisor to PainTEQ. Legal counsel included Hill Ward Henderson; Bass, Berry & Sims; Sheppard, Mullin, Richter & Hampton; and Knobbe Martens. Transaction terms were not disclosed.

About PainTEQ
Founded in 2013 and based in Tampa, Florida, PainTEQ develops interventional pain management solutions focused on back pain and sacroiliac (SI) joint dysfunction. Its proprietary SI joint implant system has been used in more than 14,000 procedures to date, providing patients with minimally invasive options to help relieve chronic pain.

About Signet Healthcare Partners
Signet Healthcare Partners is a healthcare growth equity firm that invests in commercial-stage pharmaceutical (pharma services and therapeutics) and medical technology companies. Founded in 1998 and based in New York, Signet has invested in more than 60 companies, supporting entrepreneurs with capital, strategic guidance, and deep industry networks.

About Windham Capital Partners
Windham Capital Partners, founded in 2006, is a growth equity investment firm working at the intersection of medical technology and digital health. The firm invests in transformative companies and teams improving clinical outcomes, expanding access to quality care and creating greater efficiencies in healthcare. With deep expertise and a far-reaching network across medical devices, digital health, and life sciences, Windham partners with visionary founders and entrepreneurs to develop and elevate the standard of healthcare. 

SOURCE PainTEQ

The report finds that a majority of survey participants view venture debt as a flexible, founder friendly alternative to equity that supports growth without dilution rather than a last resort.

MENLO PARK, Calif., Aug. 26, 2025 — Runway Growth Capital LLC (“Runway”), a leading provider of growth loans to venture and non-venture-backed companies seeking an alternative to raising equity, today announced the release of the 2024-2025 Venture Debt Review, produced in partnership with PitchBook. The annual report provides a comprehensive look at the evolving venture debt landscape, pairing PitchBook’s proprietary market data with Runway’s original survey of founders, investors, and lenders—offering a view into how stakeholders are using debt in today’s market. 

The release of this year’s report comes against the backdrop of an increasingly concentrated venture debt market. PitchBook data previously released in early 2025 showed total venture debt deal value reached a record $53 billion in 2024—even as deal count dropped to the lowest level in a decade. This backdrop sets the stage for Runway’s deeper exploration of why debt is being used more selectively and strategically than ever. This reflects broader trends already visible across the ecosystem, including fewer, larger transactions as startups use debt more strategically to extend runway and preserve equity.

Runway’s proprietary survey findings offer fresh insight into how attitudes toward venture debt are shifting—highlighting changes in founder psychology, deal preferences, and broader market dynamics. Among the most notable data points:

• Late-stage lending is increasing
  • Nearly 60% of venture debt financings in 2024 occurred at the late or venture-growth stage.
  • 67% of respondents said they’re focused on funding expansion-stage companies, underscoring the increasing role of venture debt in supporting post product-market fit growth.
• Liquidity constraints are driving demand
  • While exit value rose to $152.9B in 2024, IPO timelines are the longest in over a decade, with 1,300+ companies still valued at $500M+.
• Perceptions and founder priorities are changing
  • 61% of respondents no longer view venture debt as “rescue financing.”
  • Founders are prioritizing flexibility and control over headline interest rates.
• Borrower behavior is evolving
  • In past years, interest rates were the top concern for founders; today, in a higher-rate environment, they prioritize flexibility, speed, and control in deal structures.
  • Lenders are responding by offering more borrower-friendly covenants and tailored repayment terms, suggesting a more sophisticated market dynamic.

“After years of capital abundance, startups are entering a new phase—one where how you raise money matters more than how much,” said David Spreng, Founder and CEO of Runway Growth Capital. “This report shows that venture debt has become a strategic lever for founders seeking flexibility and control in a more selective funding environment. We’re seeing a real departure from the old notion that debt is a sign of distress—this year’s data shows it’s increasingly a sign of discipline.”

The report also highlights prominent 2024 deals, such as Cohesity’s $3.1 billion debt financing following a $1B+ equity round, showcasing how venture debt can power ambitious growth plans without forcing founders to surrender equity.

The full report, including charts and commentary, is available for download at http://runwaygrowth.com/venture-debt-review

About Runway Growth Capital
Runway Growth Capital LLC is an 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 PitchBook
PitchBook is a financial data and software company that provides transparency into the capital markets to help professionals discover and execute opportunities with confidence and efficiency. PitchBook collects and analyzes detailed data on the entire venture capital, private equity, and M&A landscape—including public and private companies, investors, funds, investments, exits, and people. The company’s data and analysis are available through the PitchBook Platform, industry news, and in-depth reports. Founded in 2007, PitchBook operates globally with more than 3,000 team members. Its platform, data, and research serve over 100,000 professionals around the world. In 2016, Morningstar acquired PitchBook, which now operates as an independent subsidiary.

Forward-Looking Statements
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition, or results and involve a number of risks and uncertainties. Actual results may differ materially from those in forward looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission made by Runway and Runway’s affiliated funds. Neither Runway nor Runway’s affiliated funds undertake a duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

SOURCE Runway Growth Capital LLC

MIAMI and AUCKLAND, New Zealand, Aug. 26, 2025 —  The round was led by Movac, one of New Zealand’s largest and longest-standing venture capital funds. It also drew strong participation from existing investors, including Bridgewest Ventures, which led Avasa’s seed round, and several new backers. The round was significantly oversubscribed and is expected to close at NZD$4.75 million.

Founded by clinician-bioengineer Dr. Nandoun Abeysekera, Avasa is transforming reconstructive microsurgery. Its category-defining device, the Avasa Coupler, addresses a critical unmet need by enabling safe, fast, and standardized reconnection of micro-arteries. This procedure has long required surgeons to hand-sew small arteries under a microscope, a complex and time-consuming process. 

“This is a huge milestone for Avasa,” commented Abeysekera, CEO and Founder. “After seven years of relentless R&D, we’ve reached design freeze for the Coupler and built our pre-production units, which have shown 100% success in chronic animal studies. In addition to my own experience as a plastics resident, 89% of the 100+ microsurgeons we interviewed expressed strong clinical demand for our solution. We’re laser-focused on getting it into their hands, and this capital will take us through FDA clearance and into the market in the next 18 months.”

The round’s lead investor, Movac, noted that Avasa was a clear fit for investment from its Emerge Fund. “With Nandoun having been a practicing surgeon, it was immediately obvious that he has intimate experience with the problems the Avasa Coupler addresses. He has built an impressive team, surrounded the business with world-class advisors, and the product they’ve developed is an elegant and IP-rich solution that addresses a clear pain point within a large but underserved market. We’re excited to be joining Avasa on their journey,” said Senior Investment Manager, Byron van Vugt.

Existing Investor, Bridgewest Ventures, first invested in Avasa in 2022. “We are immensely proud to have supported Nandoun and his team in reaching this pivotal milestone, with the Avasa Coupler poised to revolutionize the field. As Avasa takes its final steps toward FDA clearance and market entry, we’re energized by the opportunity to partner with Movac, whose leadership in this round has been invaluable,” said Saum Vahdat, CEO, Bridgewest Ventures.

Having secured the funding needed to progress through its FDA application, Avasa is now focused on completing the verification testing of its Coupler and is looking forward to its commercial launch. To help build its go-to-market strategy, Avasa recently recruited a senior commercial executive from Fisher & Paykel Healthcare. “Our technology is set to become the new standard for microvascular connections and will help make microsurgery safer, faster, and more accessible worldwide,” said Abeysekera.

About Avasa:

Avasa is a New Zealand-based medical device start-up developing solutions for reconstructive microsurgery. Founded in 2018, the company is nearing the launch of its first product, the Avasa Coupler, which standardizes and simplifies the process of Arterial reconnections.

About Movac: 

Movac is New Zealand’s most experienced and successful venture capital firm, with over 25 years of backing Kiwi entrepreneurs. As the country’s largest and longest-standing VC, Movac has raised $690m across eight funds, consistently delivering top-tier global returns. Movac’s portfolio includes many of New Zealand’s most exciting high-growth companies, such as Trade Me, Vend, Timely, Aroa Biosurgery, Tradify, Crimson Education, Auror and Dawn Aerospace. The firm is currently investing from Growth Fund 6, Emerge Fund 4, and the new Growth Opportunity Fund, supporting ambitious founders to scale globally and generate long-term impact for New Zealand.

About Bridgewest Group:

Bridgewest Group is an innovative and privately held global investment firm with over $3B in private capital. Founded in 1999, the global firm has earned a long-standing reputation for creating and scaling transformational businesses to achieve outsized success. Bridgewest Group leverages its expertise and global eco-community in key sectors where it can have the greatest impact including Life Sciences, Software, Semiconductor and Artificial Intelligence/Deep Tech. Customized financial investment services and diverse real estate holdings augment equity assets and support portfolio companies as they grow. Bridgewest Group is based in the US, with investments primarily in the US, Europe, China, Australasia and India.

Media Contact:

New Zealand – –  Dr. Nandoun Abeysekera, [email protected]

SOURCE Avasa

Elite Private Market Leaders to Convene September 15-17 at Hilton Los Angeles Universal City

LOS ANGELES, Aug. 26, 2025 — SuperReturn US West, the West Coast’s leading private capital conference, announced its preliminary line up for its upcoming event taking place September 15-17, 2025, at the Hilton Los Angeles Universal City. The event offers unparalleled networking opportunities and actionable insights from industry leaders on venture capital, private credit, artificial intelligence, fundraising strategies, LP allocations, and emerging investment trends. Wealth managers and financial advisors serving high-net-worth clients will benefit from specialized sessions on private wealth strategies. Additionally, service providers supporting the private equity and venture capital industries will gain valuable insights into market trends while connecting with potential clients.

“SuperReturn US West is establishing itself as the California connection point for private market leaders,” said Nedina Stephens, Event Director at Informa Connect. “This year’s expanded program features specialized summits, champagne roundtables, and exclusive LP-only sessions designed to deliver maximum value to attendees.”

What’s New for 2025

This year’s conference introduces several exciting enhancements:

• Three Specialized Summits on Monday, September 15: Private Wealth, Sport & Entertainment, and Private Credit – attendees can move freely between all three streams
• Champagne Roundtables covering critical topics including geopolitical impacts, direct investment strategies, and single family office oversight
• Invitation-Only Sessions including a single family office-only lunch and exclusive LP-only networking events

Distinguished Speaker Lineup

The 2025 program features 150+ expert speakers delivering data-rich presentations, panels, and interactive Q&As. Confirmed industry leaders include:

• Jonathan Sokoloff, Managing Partner, Leonard Green & Partners
• Caroline Greer, Managing Director, Commonfund OCIO
• Diana Carr-Coletta, Partner, Direct Lending, PGIM Private Capital
• Sud Murugesu, Partner, Head of West Coast, Partners Capital
• Jennifer Marques, Managing Director and Head of Strategy and Structuring, Oaktree Capital Management
• Nhora Otalora, Managing Director, HarbourVest Partners
• Ryan Smith, Managing Director, Secondary Investments, Hamilton Lane
• Orley J. Pacheco, Senior Financial Advisor, Sports and Entertainment Accredited Wealth Management Advisor, Wells Fargo Advisors
• Parth Patil, AI Engineer, Office of Reid Hoffman / Blitzscaling Ventures

Institutional Investors Already Confirmed

Leading institutional investors participating include Allstate Insurance, CalPERS, Cooper Family Office, LA Fire & Police Pensions, Motion Picture Industry Pension & Health Plans, QIC, San Antonio Fire & Police Pension Fund, LA City Attorney’s Office, and many more.

Benefits of Attending

SuperReturn US West offers attendees:

1. Premium Networking Opportunities – Connect with 300+ senior decision-makers in private markets
2. Insider Perspectives – Gain exclusive insights from elite LPs and GPs on critical market dynamics
3. Specialized Knowledge – Access expert insights on venture capital, private credit, and AI in 2025
4. Interactive Format – Participate in engaged conversations, invitation-only lunches, and champagne roundtables
5. Closed-Door Discussions – Benefit from candid conversations conducted under the Chatham House Rule

“SuperReturn US West is designed for development finance institutions, endowments, foundations, insurance companies, pension funds, single family offices, and sovereign wealth funds seeking to navigate today’s complex private capital landscape,” added Stephens. “The event provides a unique opportunity to learn from industry leaders while building valuable relationships in an intimate setting.”

Registration Information

SuperReturn US West 2025 offers complimentary attendance for qualifying LPs. Register by Friday August 29^th to save – BOOK NOW.

About SuperReturn US West
SuperReturn US West is the West Coast’s leading event in private markets, bringing together senior decision-makers from across the private capital ecosystem. The event features exclusive LP-only sessions, engaged conversations, invitation-only lunches, and champagne roundtables designed around the topics that matter most to participants. Wealth managers and financial advisors serving high-net-worth clients will benefit from specialized sessions on private wealth strategies. Additionally, service providers supporting the private equity and venture capital industries will gain valuable insights into market trends while connecting with potential clients.

SOURCE SuperReturn US West

Series B expansion will fuel growth of leading space solar tech with proven on-orbit performance

ALBUQUERQUE, N.M., Aug. 26, 2025 —  mPower Technology, Inc., the leader in flexible solar power for space, today announced a strategic investment from Lockheed Martin Ventures, the venture arm of Lockheed Martin Corporation. The investment is an add-on to mPower’s recent Series B funding round, bringing total Series B funding to over $24 million.

This capital will further accelerate mPower’s ability to scale production of its DragonSCALES™ solar modules. DragonSCALES provides an industry-leading flexible, resilient, and cost-effective solution for solar power in space, enabling new design possibilities for space missions.

“We are honored to welcome Lockheed Martin Ventures as a strategic investor,” said Kevin Hell, president and CEO of mPower Technology. “Lockheed Martin brings deep mission expertise and a bold vision for the future of space and national defense. Their support is a validation of our role in enabling rapid, scalable, and cost-effective solar power across the new space economy and in support of U.S. security priorities.”

Lockheed Martin Ventures joins an impressive group of investors in the Series B round, including Razor’s Edge Ventures and Shield Capital, both of which focus on technologies critical to national security and resilient space infrastructure.

“Space has never been more important to national security, and affordable, reliable power is a mission-critical enabler for future space operations,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures. “The technology in development by mPower solves some of the hard challenges in unique and innovative ways—opening new doors for spacecraft design, power production, and scalability. We’re excited to support their continued growth and development as we advance U.S. leadership in space exploration.”

DragonSCALES has already been selected for several prominent space programs, including by Airbus Netherlands B.V. for their Sparkwing solar arrays which will power MDA’s AURORA satellites for low-earth orbit constellations like Telesat Lightspeed and the next-gen Apple-backed Globalstar constellation. Production is underway at mPower’s high-volume automated line located at Universal Instruments Corporation in Conklin, New York. The facility will produce over two megawatts of DragonSCALES annually, more than the combined global output of legacy gallium arsenide (GaAs) space solar suppliers.

With over 12 years of on-orbit heritage, mPower has become a trusted solar provider to companies including Airbus, Blue Origin/Honeybee, Firefly Aerospace, Lynk Global, and Gravitics.

About mPower Technology, Inc.

mPower Technology is reshaping the future of space solar with DragonSCALES™. Designed for mass production using standard silicon PV processes, DragonSCALES delivers high-performance, scalable solar power for spacecraft of all types. Learn more at mpowertech.com or follow us on LinkedIn, X, and Facebook.

About Lockheed Martin Ventures

Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security ® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at www.Lockheedmartin.com.

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SOURCE mPower Technology