Corporate venture leader has invested $150 million in 18 AI companies to date; new commitment will accelerate investments to improve efficiency, reduce emissions and strengthen the energy grid

MENLO PARK, Calif., March 12, 2025 — National Grid Partners, the corporate venture capital and innovation arm of one of the world’s largest utilities, today announced a commitment to invest $100 million in artificial intelligence (AI) startups that are advancing the future of energy. The funds will accelerate development of a more efficient, resilient and dynamic grid that supports economic growth, reduces customer costs, helps meet climate goals and ensures energy security.

As part of this commitment, National Grid Partners is also announcing its latest investment in Amperon, a leading provider of AI-powered energy forecasting and analytics solutions. Amperon’s technology helps utilities manage demand and ensure grid reliability. Since its founding in 2018, National Grid Partners has invested more than $150 million in 18 AI startups focusing on energy innovations, amounting to 37% of its portfolio.

“Power systems like National Grid’s are seeing unprecedented challenges, with soaring demand driven by datacenters and the electrification of heat and transport, as well as requirements for a more flexible grid with the rise of renewables and EVs,” said John Pettigrew, CEO of National Grid plc. “We are seeing artificial intelligence play a vital role resolving these issues and delivering compelling results across our operations. Scaling AI will continue to help National Grid provide the most efficient, modern grid available for our millions of customers in the U.S. and U.K.”

National Grid Partners – the utility industry’s only Silicon Valley based corporate venture group – invests in a wide array of technologies to deliver rapid impact for utilities and the broader energy sector. More than 80% of its portfolio companies are strategically engaged with National Grid business units to streamline operations, boost safety and reliability, improve customer service and speed the development of tomorrow’s energy networks. Examples include:

• AiDASH unites satellite data with proprietary AI to help utilities monitor infrastructure networks in real time. By rapidly identifying potentially hazardous trees near power lines and prioritizing them for removal, National Grid has seen outages drop by 30% since deploying AiDASH in Massachusetts.
• Exodigo uses AI and advanced sensors to “see” underground, avoiding costly missteps when expanding energy infrastructure. In New York, National Grid has deployed Exodigo to accelerate electric substation and transmission line expansion by discovering and avoiding buried obstacles.
• Luminance develops legal-grade AI to automate and augment every touchpoint a business has with its contracts. National Grid uses its platform to streamline negotiation and analysis of contracts and other legal documents critical to accelerating the deployment of clean energy and smart grid assets.
• Sensat uses AI to help owners of critical infrastructure visualize and collaborate via digital twins, resulting in faster project completion and lowered costs. National Grid has deployed Sensat in the UK to speed substation upgrades and connect data centers to the grid; this has resulted in fewer contractor errors, increased worker safety and weeks pared from the traditional surveying process.
• Urbint develops an AI-based risk management platform to predict threats to critical infrastructure and worker safety. National Grid has deployed Urbint’s solution to reduce costly and dangerous pipeline damage from third-party excavation. Urbint also helped National Grid identify 35% more potential field-worker hazards than manual methods, boosting employee safety across the utility’s U.S. service territory.

“AI is helping us improve operations and achieve efficiencies we never could with legacy technologies,” said Steve Smith, President of National Grid Partners and Chief Strategy and Regulation Officer at National Grid. “Our AI-powered portfolio is doing everything from accelerating critical construction timelines to boosting transmission line capacity for National Grid. And with more than 120 other global utilities in our NextGrid Alliance, we’re speeding these innovations across the industry.

“This $100 million commitment will help National Grid accelerate AI deployments to build a more robust and intelligent grid,” Smith added, “while ensuring that AI delivers far more value than the energy it consumes.”

About National Grid Partners
National Grid Partners is the venture investment and innovation arm of National Grid plc., one of the world’s largest investor-owned energy companies. By providing corporate venture capital, business development counsel and direct integration with National Grid’s innovation teams, National Grid Partners is accelerating the energy transition and helping new technologies reach critical scale faster. We also convene the NextGrid Alliance (www.ngalliance.energy), a network of senior innovation executives from more than 120 worldwide utility companies focused on harnessing the industry’s latest technologies. Headquartered in Silicon Valley, National Grid Partners has offices in Boston, London, and New York. Visit ngpartners.com or follow us on Twitter and LinkedIn.

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HOUSTON, March 12, 2025 — Amperon, a leading provider of AI-powered energy forecasting and analytics solutions, today announced a strategic investment from National Grid Partners, the venture investment and innovation arm of National Grid (NYSE: NGG). This investment will further accelerate Amperon’s commercial expansion across North America and Europe, enhancing its ability to provide best-in-class AI-powered energy forecasting and market analytics to utilities, independent power producers, and energy market participants.

The investment from National Grid Partners underscores the growing demand for advanced AI-driven solutions that help utilities and energy companies navigate the complexities of modern energy markets. With increasing volatility in power markets and the transition to a more distributed and decarbonized grid, Amperon’s platform helps its customers improve grid reliability, manage financial risk, and optimize renewables.

“National Grid Partners offers a wealth of strategic value as an investor,” said Sean Kelly, CEO and Co-Founder of Amperon. “Their deep industry expertise and commitment to innovation make them an ideal partner as we continue scaling our operations and expanding our footprint in key energy markets. This investment allows us to accelerate our commercial reach, particularly in the UK, where grid modernization and resilience are at the forefront of the energy transition.”

National Grid owns and operates the high voltage electricity transmission network in England and Wales as well as the UK’s largest electricity distribution network. It also serves more than 20 million people in New York and Massachusetts.

In June 2024, Amperon expanded into 15 European countries, solidifying its position as a leading provider of energy forecasts. The company’s AI-powered forecasting models have outperformed many incumbents in accuracy, most notably in France, Germany, Spain, Ireland, and the UK, enabling market participants to optimize energy strategies and enhance grid stability. With advanced machine-learning capabilities, improved physics-based modeling, and new weather ensemble features, Amperon continues to invest and improve its accuracy, with an average 10% improvement in accuracy over the last six months.

“As the energy landscape becomes more complex and dynamic, the need for accurate, real-time data and predictive insights has never been more critical,” said Raghuram Madabushi, Investment Director at National Grid Partners. “Amperon’s AI-driven approach to forecasting is a perfect fit with our vision for a smarter, more resilient grid – and this marks the inaugural investment from our new, $100 million commitment to AI solutions advancing our energy system. We believe Amperon will play a vital role in scaling innovation across utilities, and we see significant potential for their AI-powered solutions to enhance grid operations in both the US and UK.”

Amperon has established itself as a trusted partner for energy retailers, utilities, and independent power producers, such as Ørsted, Axpo, AES, and Rhythm Energy, delivering AI-powered forecasts that enable real-time, data-driven decision-making. By providing precise insights, Amperon helps its customers manage resources more effectively and stay ahead in a rapidly evolving energy landscape. Now, with the support of National Grid and National Grid Partners, Amperon will further enhance its product offerings, expand its UK presence, and solidify its position as the go-to platform for energy forecasting services.

About Amperon

Amperon is the leading energy forecasting company, positioned at the intersection of energy data and AI. Founded in 2018, Amperon has become a trusted partner to power and utility companies, delivering demand, renewable generation, and price forecasts. With cutting-edge predictive analytics, seamless data integrations, and premium customer support, Amperon enables customers to enhance grid reliability and optimize asset performance. Committed to grid modernization, Amperon is the forecasting company of the energy transition.

For more information about Amperon, visit www.amperon.co.

About National Grid Partners

National Grid Partners is the venture investment and innovation arm of National Grid plc., one of the world’s largest investor-owned energy companies. By providing corporate venture capital, business development counsel and direct integration with National Grid’s innovation teams, National Grid Partners is accelerating the energy transition and helping new technologies reach critical scale faster. We also convene the NextGrid Alliance (www.ngalliance.energy), a network of senior innovation executives from more than 120 worldwide utility companies focused on harnessing the industry’s latest technologies. Headquartered in Silicon Valley, National Grid Partners has offices in Boston, London, and New York. Visit ngpartners.com or follow us on X and LinkedIn.

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ST. PETERSBURG, Fla., March 12, 2025 — MoirAI Cloud just landed a $1 million pre-seed round to take AI data center efficiency to the next level. Backed by prominent angel investors, this funding accelerates the company’s AI-driven software to cut power consumption by 95%, lower costs, and increase efficiency.

“The way AI and cloud infrastructure scale today is wildly inefficient. We’re changing that,” said Robert Twitchell, CEO of MoirAI Cloud. “Our software doesn’t just cut waste —it unlocks productivity and business growth for AI and its users.”

Today’s data centers burn massive amounts of energy, especially with LLM-based AI models. MoirAI Cloud breaks the outdated “more compute = more power” paradigm with an intelligent system that optimizes real-time power usage, cooling, and server efficiency. The result? Lower energy bills, reduced demand for top-tier hardware, and a more sustainable future.

This funding fuels MoirAI Cloud’s next phase: expanding the team, scaling product development, and forging strategic partnerships to bring this energy-saving tech to data centers worldwide. 

About MoirAI Cloud
MoirAI Cloud aims to make AI and data centers smarter and not wasteful. Founded in 2024 by telecommunications and electronic warfare expert Robert Twitchell, the company develops AI-driven infrastructure software that reduces energy costs, increases efficiency, and helps businesses scale without unnecessary resource drain.

For more information, visit www.moiraicloud.ai

SOURCE MoirAI Cloud

Breakthrough in superconducting digital logic removes quantum scaling barriers, paving the way for large-scale quantum computing

HERZLIYA, Israel, March 12, 2025 — QuamCore, a deep tech startup redefining quantum computing scalability, announced today its emergence from stealth with $9 million in seed funding. Founded in 2022, QuamCore has spent the past two years developing its breakthrough superconducting quantum processor architecture, working in stealth mode to solve the critical scalability challenges that have long prevented practical quantum computing. The company has now emerged with a patented architecture that enables the integration of 1 million qubits into a single cryostat – a milestone previously thought impossible. This breakthrough dramatically reduces the size, energy consumption, and cost of quantum computers, unlocking practical applications across pharmaceuticals, AI, materials science, and energy.

Funding is led by Viola Ventures and Earth & Beyond Ventures.

The biggest obstacle to building a commercially viable superconducting quantum computer has been managing heat, given that systems rely on delicate quantum processors that must operate at temperatures near absolute zero. Traditional control electronics generate too much heat and must therefore be placed outside the cryostat (the ultra-cold chamber where quantum computing happens). This separation creates an insurmountable scaling bottleneck, requiring millions of cables to connect the control electronics to the processor.

Right now, the most advanced quantum computers from IBM and Google can only fit about 5,000 qubits per cryostat, requiring hundreds of interconnected cryostats in a football-field-sized facility to scale. This approach is not only space- and cost-prohibitive but also introduces complexity that hinders practical adoption. QuamCore’s breakthrough changes this entirely, reducing cabling by a factor of more than 1,000, enabling the first practical path to scaling beyond 1 million qubits in a single, compact system. What once required a football field of hardware can now, with QuamCore’s technology, be condensed into a compact box – fundamentally reshaping the economics and accessibility of quantum computing.

QuamCore’s leadership team brings together deep expertise in quantum physics, superconducting systems, and large-scale semiconductor development.
CEO Alon Cohen, co-founder of the EyeC Radar Group at Mobileye (Intel), served as the chief architect and head of the EyeC Radar algorithm group, shaping it into a core technology for autonomous vehicle perception. He holds over 40 patents in radar, communication, and signal processing and was awarded Intel’s highest innovation honor, the Intel Oscar Prize, for his contributions.

CTO Prof. Shay Hacohen-Gourgy, a leading expert in superconducting quantum computing, has spent over 15 years pioneering experimental research in quantum information and solid-state physics. A professor at the Technion – Israel Institute of Technology, his groundbreaking work in superconducting circuits and quantum measurement has been published in top-tier journals, including Nature. 
Chief scientist Prof. Serge Rosenblum, a leading researcher at the Weizmann Institute of Science, brings over 15 years of experience across various quantum technologies, with multiple breakthrough papers published in top-tier journals, including Science.
Prof. Hacohen-Gourgy and Prof. Rosenblum conducted their postdoctoral research at UC Berkeley and Yale before returning to Israel seven years ago. They built Israel’s leading superconducting quantum laboratories at the Weizmann Institute and the Technion, respectively.
Senior Advisor Prof. Eby G. Friedman, a world-renowned expert in superconducting digital circuits from the University of Rochester, has contributed to over 600 publications and patents, with his work laying the foundation for advances in high-performance digital superconducting logic.

“The challenge in quantum computing isn’t just adding more qubits – it’s how you scale without hitting fundamental barriers,” said Alon Cohen, CEO of QuamCore. “From the outset, we understood that reaching 1 million qubits was the threshold for unlocking real-world value. But we also saw that this required a radical rethinking of quantum processor architecture. We explored multiple approaches and found a path that actually works – one that eliminates the core bottleneck preventing quantum computing from scaling.”

“To achieve this, we rethought everything – from transitioning to digital control, developing new superconducting devices, and redesigning the processor architecture from the ground up,” Cohen added. “The result is a breakthrough in power efficiency, overcoming a fundamental gap that has long prevented large-scale quantum computing. Today, we have a detailed blueprint for a 1-million-qubit quantum computer in a single cryostat, marking a clear, viable path toward practical large-scale quantum computing. Our design also incorporates built-in error correction, paving the way for fault-tolerant quantum systems.”

“The world is still waiting for a commercially viable quantum computer, and no one has had a clear path to get there – until now,” said Zvika Orron, General Partner at Viola Ventures. “QuamCore’s breakthrough isn’t just about making quantum computers smaller; it’s about enabling large-scale, fault-tolerant quantum computing for the first time. Just as transistors replaced vacuum tubes, QuamCore is redefining what’s possible in quantum.”

About QuamCore
QuamCore is pioneering Massive Scaling in quantum computing, pushing the limits of what’s possible. The company’s patented superconducting quantum processor architecture enables fault-tolerant, scalable systems capable of managing millions of qubits. With an architecture-first approach, QuamCore is making large-scale, economically viable quantum computing a reality, unlocking real-world impact across industries. For more information, please visit www.quamcore.com

About Viola Ventures
Viola Ventures is an early-stage fund committed to building global category leaders from Israel. Founded in 2000, Viola Ventures has backed 200+ technology companies, among them some of Israel’s leading startups such as ironSource (acquired by Unity), Redis, Immunai, and Pagaya. With over $1.4B AUM the fund invests from inception stage, with a focus on Vertical AI and Cyber/AI Infrastructure. Viola Ventures is part of Viola Group, Israel’s leading tech investment platform, managing over $6.5B AUM.

Contact:

David Weissmann
VP Media Strategy
Gova10
[email protected]

SOURCE QuamCore

Leading the Automated Cyber Security Validation market, Pentera’s funding fuels its growth to surpass $200M in ARR

BOSTON, March 12, 2025 — Pentera, the leader in automated security validation, today announced a $60 million Series D funding round led by Evolution Equity Partners, with participation from Farallon Capital Management, bringing the company’s total funding to $250 million. Pentera’s funding reinforces its position as the undisputed leader in Automated Security Validation and fuels the next phase of its hypergrowth. Since its previous funding round in December 2021, Pentera has increased its ARR by more than 300% and expanded its customer base by 200%.

AI is transforming the cyber threat landscape, empowering attackers with sophisticated, automated techniques that accelerate ransomware campaigns and increase operational complexity for defenders. Pentera’s platform addresses this challenge by enabling organizations to adopt Continuous Threat Exposure Management (CTEM) frameworks, ensuring their defenses are continuously validated and resilient against the latest AI-driven threats.

Pentera emulates real-world adversarial techniques to uncover exploitable security gaps across on-prem networks, web-facing assets, and complex multi-cloud environments. The platform enables security teams to analyze complete attack paths, identify root causes, and prioritize remediation for effective risk reduction.

More than 1,100 leading enterprises worldwide – including Casey’s, Wyndham Hotels & Resorts, and Virgin Atlantic – trust Pentera to validate their security defenses against real-world threats. With this new funding, Pentera will accelerate innovation through advanced research and development, cutting-edge AI integration, and aggressive expansion in the U.S. market – strengthening its position as the global standard in security validation.

“Security teams face relentless, automated threats that traditional testing methods can’t match,” said Amitai Ratzon, CEO of Pentera. “This investment allows us to accelerate innovation and expand our platform to help enterprises continuously validate their security against real-world attacks. As we execute our strategy to exceed $200M in ARR, we are actively exploring strategic M&A opportunities to drive market consolidation and deliver even greater value to our customers.”

“Pentera has redefined enterprise security testing and validation practices,” said Richard Seewald, Managing Partner at Evolution Equity Partners. “Pentera’s exceptional growth, strong enterprise adoption, and category-defining innovation make it the clear leader in Automated Security Validation. We are proud to lead this investment and continue our relationship with Pentera as it scales globally, expands its technology, and continues to set the industry standard for security validation.”

“We’re thrilled to support Pentera in this next phase of growth,” said Ido Krakowsky, Head of Growth Capital at Farallon Capital Management. “Pentera has demonstrated remarkable market traction and a clear vision for the future of cybersecurity. Its innovative approach to security validation is transforming how enterprises proactively defend against threats, and we look forward to being part of its continued success.“

About Pentera

Pentera is the market leader in Automated Security Validation, empowering companies to proactively test all their cybersecurity controls against the latest cyber attacks. Pentera identifies true risk across the entire attack surface, guiding remediation to effectively reduce exposure. The company’s security validation capabilities are essential for Continuous Threat Exposure Management (CTEM) operations. Thousands of security professionals around the world trust Pentera to close security gaps before threat actors can exploit them.

For more information, visit: pentera.io.

Media contact for Pentera
Noam Hirsch
Senior PR Manager
[email protected]

SOURCE Pentera

Relationship will extend availability of venture debt to technology and life science companies nationwide

SAN FRANCISCO, March 12, 2025 — Silicon Valley Bank (SVB), a division of First Citizens Bank, announced today it has entered into a strategic lending relationship with Pinegrove Venture Partners (Pinegrove). SVB and Pinegrove expect to deploy a combined $2.5 billion in venture debt loans to technology and life science companies over the coming years. 

Backed by Sequoia Heritage and Brookfield Asset Management, Pinegrove is a venture investment platform with combined assets under management of greater than $10 billion that works with founders, fund managers and limited partners while SVB is the leading provider of venture debt to the innovation economy. Pinegrove and SVB, through its Strategic Capital Group, are able to extend the amount of venture debt available to fast-growing companies. Pinegrove acquired SVB Capital, SVB’s former venture capital arm, from its former parent, SVB Financial Group, in 2024.

“This marks a reunion for two teams that have worked together for many years with a common goal – to support the innovation economy,” said Marc Cadieux, President of SVB. “SVB and Pinegrove understand the needs of innovation economy clients and together we can provide expanded access to financing solutions that will help them succeed and scale. Given our shared history, we have a great head start on a successful relationship.”

“The Pinegrove team has been working with SVB for over a decade to develop creative and innovative venture debt financing solutions. The result has been highly differentiated and flexible offerings that meet the financing needs of companies and venture investors. We couldn’t be more thrilled about this continued collaboration, and we are excited for the next decade of working with the leading bank in the innovation economy,” said Jim Ellison, Managing Partner and Head of Private Credit at Pinegrove.

Pinegrove has maintained a trusted relationship with SVB for over a decade, collectively committing more than $10 billion in venture debt across 550 loans.

About Silicon Valley Bank

Silicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of some of the world’s most innovative companies and investors. SVB provides commercial banking to companies in the technology, life science and healthcare, private equity and venture capital industries. SVB operates in centers of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights and connections. SVB’s parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA), is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Learn more at svb.com

About Pinegrove Venture Partners

Pinegrove Venture Partners operates as a powerful venture investment platform that provides solutions to meet the unique needs of fund managers, founders, and limited partners in the innovation economy.

For 25 years, Pinegrove has been a premier investment and strategic partner for institutional investors seeking access to leading opportunities in the venture ecosystem. With the support and sponsorship of Brookfield and Sequoia Heritage and combined assets under management of greater than $10 billion, Pinegrove deploys capital across a complementary suite of offerings spanning venture capital fund of funds, venture debt, secondaries, and co-investments.

SOURCE Silicon Valley Bank

The Company’s New Technology is Designed to Support Overall Space Operations Critical for Consumer Applications and National Defense

ROCKVILLE, Md., March 12, 2025 — Quantum Space, a leader in advanced space operations, is launching its life extension services to enhance satellite mission longevity and operational efficiency. Leveraging its highly maneuverable Ranger spacecraft, these services include mission extension, orbital adjustment, and refueling—addressing the growing demand for sustainable and cost-effective satellite operations.

This initiative aligns with Quantum Space’s commitment to maximizing the value and lifespan of orbital assets for commercial and government clients. The Ranger’s rapid maneuverability and repositioning capabilities enable seamless transitions between orbits to meet diverse mission requirements.

“At Quantum Space, we are dedicated to transforming space operations by providing life extension solutions that empower our clients to realize the Freedom to Maneuver for achieving their mission objectives more effectively,” said Ben Reed, Cofounder and Chief Innovation Officer of Quantum Space. “Our advanced technologies and strategic partnerships position us to deliver unparalleled service in the evolving space economy.”

The Ranger spacecraft features high delta-velocity maneuvers, substantial payload capacity, and precision operations, making it an ideal solution across various orbital regimes. Designed for persistent operations exceeding 15 years, Ranger reduces the need for frequent satellite replacements, lowering overall mission costs while supporting national security and commercial needs.

As part of its expansion, Quantum Space secured investment from Sporos Capital Partners in its Series A round, accelerating the deployment of its in-space mobility and mission extension solutions.

“Quantum Space is at the forefront of transforming how assets operate in orbit, and we believe their life extension services will be critical to the future of space logistics,” said Nishant Machado, Managing Partner at Sporos Capital. “Our investment reflects our confidence in their leadership, technology, and vision for sustained space operations.”

With these life extension services, Quantum Space is reinforcing the resilience and sustainability of space operations, offering greater maneuverability and longevity for national security initiatives, commercial ventures, and scientific research.

For more information, visit quantum-space.com.

Media Contact:
[email protected]
240-956-4580
quantum-space.com

SOURCE Quantum Space

Investment to Accelerate Growth and Expand Recyling-as-a-Service Offering for Industrial Solvents

NEW YORK, March 12, 2025 — Nuveen, the $1.3 trillion asset manager of TIAA, today announced a $30 million equity investment in CleanPlanet Chemical (“CleanPlanet”), a leading provider of recycling-as-a-service for industrial solvents. The investment, made by Nuveen’s Private Equity Impact team, will support CleanPlanet’s growth initiatives and enable the company to scale its proprietary on-site recycling technology.

The investment is the fourth from Nuveen Climate Inclusion Fund II, which seeks to address two of the greatest sustainable development challenges: climate change and inequality. By investing in businesses that drive an inclusive transition to a low-carbon economy, the strategy aims to generate strong financial returns while delivering measurable social and environmental impact.

Founded in 2012, CleanPlanet aligns with Nuveen’s private equity impact strategy by providing a sustainable alternative to traditional solvent disposal methods, serving industries such as flexible packaging, coatings, automotive and chemicals among many others. Unlike incineration or centralized recycling, both of which are transporation-intensive, CleanPlanet’s on-site solution significantly reduces waste and emissions while lowering costs for customers. In 2024, CleanPlanet recycled more than 15 million pounds of solvent waste, saving customers millions of dollars in costs and avoiding over 36,000 tons of greenhouse gas emissions. Currently, the company has hundreds of units in operation across various industries and geographies.

“We’re excited to partner with Nuveen to accelerate the adoption of our technology,” said Alex Richert, CEO of CleanPlanet. “Globally, more than 80% of solvents generated each year are disposed of rather than recycled – contributing to emissions and environmental pollution. Our technology can recover most of these solvents, transforming them into a perpetually reusable product that is both cost-effective and sustainable. There is a perception that sustainability solutions come with a price tag. CleanPlanet’s recycling as a service business model provides day one cost savings of 30-50%+ with no CAPEX. This is a true waste to value solution. With Nuveen’s support, we are well-positioned to scale our impact and meet the growing demand for circular solutions.”

“CleanPlanet offers a game-changing approach to industrial waste reduction that directly lines up with our investment thesis,” said Ted Maa, Managing Director of Private Equity Impact Investing at Nuveen. “Beyond decarbonization, its offering drastically cuts hazardous waste and delivers immediate costs savings to customers. We are thrilled to partner with CleanPlanet to drive both financial returns for our investors and measurable benefits for the environment.”  

Backed by TIAA, Nuveen has long been a leader in impact investing. The firm pursues positive social and environmental impact alongside competitive financial returns across various asset classes, offering a range of investment opportunities in both private and public markets. Today, Nuveen has deployed over $33.5 billion in strategies¹ that deliver measurable social and environmental benefits to people, communities, and the planet.

For more information on CleanPlanet Chemical, please visit www.cleanplanetchemical.com. 

About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.3 trillion in assets under management as of December 31, 2024 and operations in 27 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies.

For more information, please visit www.nuveen.com.

Media Contact
Andrew Chironna | [email protected] | 212.913.1015

¹31 Dec 2024; Impact strategies may have a varying mix of impact, ESG leaders, and traditional securities. Assets under management is inclusive of underlying investment specialists and any sleeves managed on behalf of TIAA’s General Account with specific responsible investing criteria or characteristics inherent to the investment thesis/asset class. Capabilities can be reflected in strategies/vehicles across fund families, including affiliates and sub-advised agreements.

SOURCE Nuveen

Financing Led by RA Capital Management with Participation from Other Existing Investors
Canaan Partners and Cenova Capital

VT3989 is the Only TEAD Autopalmitoylation Inhibitor for which Compelling Clinical Efficacy
Data Have Been Reported, Highlights Best-in-Class Profile

Funding will Support Company’s Continued Advancement of VT3989 Toward Registrational
Phase 3 Clinical Trial in Mesothelioma

 SAN MATEO, Calif., March 12, 2025 — Vivace Therapeutics, Inc., a small molecule discovery and development company developing first-in-class cancer therapies targeting the Hippo pathway, today announced the closing of a $35 million Series D financing. The round was led by RA Capital Management, an existing investor, and included investment from other existing investors Canaan Partners and Cenova Capital. Proceeds will support the continued clinical development of the company’s first-in-class and best-in-class transcriptional enhanced associate domain (TEAD) autopalmitoylation inhibitor, VT3989, with an initial focus on mesothelioma. In conjunction with the financing, Jake Simson, Ph.D., partner at RA Capital Management, has joined the company’s board of directors.

VT3989 is a novel small molecule cancer therapeutic that targets the Hippo pathway by inhibiting palmitoylation of members of the TEAD protein family. The compound has been evaluated in more than 150 patients to date in an ongoing, open-label Phase 1 clinical study and is the first and only member of the TEAD autopalmitoylation inhibitor class for which compelling clinical efficacy data have been publicly reported. In addition to promising efficacy, VT3989 has demonstrated excellent safety in the Phase 1 trial, positioning the compound with a best-in-class profile.

Clinical findings for VT3989 have been particularly notable in patients with mesothelioma who have failed chemotherapy and immuno-oncology combination regimens, which represent the only approved therapies in this indication. These results will be presented at a major medical conference in the second half of 2025. Based on these data, Vivace is working to advance VT3989 toward a randomized registrational Phase 3 clinical trial in patients with mesothelioma and intends to discuss its plans with the United States Food and Drug Administration (FDA) later this year.

“Since participating in Vivace’s Series C round, we have had a front row seat for the tremendous progress the company has made in its efforts to address the significant unmet treatment need of patients with mesothelioma. The team’s impressive drive and continued execution made our decision to lead this Series D round an easy one,” said Dr. Simson. “Based on the clinical progress to date, we believe that VT3989 is well positioned to serve as a dramatic leap forward in the mesothelioma standard of care, offering hope to patients battling a terrible disease with limited treatment options.”

“The results of our clinical evaluation of VT3989 to date give us confidence that the appropriate next step for the program is advancement into a registrational Phase 3 trial in patients with mesothelioma. We are now laser focused on executing against this strategy, including completing our ongoing clinical study and meeting with FDA to align on next steps,” said Sofie Qiao, Ph.D., president and chief executive officer of Vivace Therapeutics. “We are grateful to RA Capital for leading this round, as well as the continued support from Canaan Partners and Cenova Capital.  This new funding will prove critical to enabling our successful development of VT3989.”

About Phase 1 study of VT3989
The Phase 1 study of VT3989 (https://clinicaltrials.gov/ct2/show/NCT04665206) is a multi-center, open label trial designed to evaluate the safety, tolerability, pharmacokinetics (PK) and biological activity of VT3989 in patients with refractory metastatic solid tumors, including refractory pleural malignant mesothelioma.

About Vivace Therapeutics, Inc.
Vivace Therapeutics is a small molecule drug discovery and development company focused on targeting the Hippo pathway. The company is pursuing a first-in-class approach to treat human carcinomas of high unmet medical needs. Based in San Francisco Bay Area, the company has raised $105 million to date. For more information, please visit www.vivacetherapeutics.com.

Contact information
Sofie Qiao, Ph.D.
President and CEO
[email protected]
650.666.2753

Tim Brons
Vida Strategic Partners (media)
646-319-8981
[email protected]

SOURCE Vivace Therapeutics, Inc.