Investigational New Drug enabling studies initiated: On track for first-in-human trials in 2025

SAN CARLOS, Calif., April 25, 2024 — RevOpsis Therapeutics, a next-generation biopharmaceutical company spearheading innovation in ophthalmic therapies, announced today it has successfully closed its first seed funding round, raising $16.5 million to propel its mission to develop and commercialize treatments for chronic multifactorial diseases through the company’s fully human multispecific proprietary Rev-Mod Platform.

The $16.5 million raised includes $7.5 million in non-dilutive capital. The financing will fund the completion of the Investigational New Drug (IND) enabling studies to secure FDA authorization and conduct the first-in-human clinical trials with the company’s lead candidate, RO-104 for the treatment of neovascular age-related macular degeneration (nAMD). This seed round will also support the ongoing discovery and development of RevOpsis’ pipeline, and allow the company to hire key management to drive the company forward.

Neovascular AMD represents the largest retinal disease opportunity in the major global healthcare markets, with over four million patients expected to be living with the blinding disease over the next 5 years¹. In 2023 alone, global nAMD revenues of anti-VEGF-A inhibitors were estimated to be approximately $9 billion.

Vision gain and treatment burden remain significant unmet needs in the treatment of nAMD and other major retinal vascular diseases. RO-104 is a first-in-class modular tri-specific biologic curated to target all three dominant angiogenic pathways implicated in exudative retinal diseases. It has the potential to be the first monotherapy agent to improve visual outcomes and extend disease remission in patients suffering with nAMD.

This round of funding consists of notable strategic investments including a leading contract development and manufacturing organization (CDMO) with global commercial drug supply capabilities, an ophthalmic drug and device development firm, and various private and angel investors, including several leading retina specialists. The financing milestone is anticipated to put the company on track to enable first-in-human studies with RO-104 in 2025.

“This seed funding round validates our proprietary Rev-Mod platform and facilitates the development of RevOpsis’ next generation multispecific antibody platform to address the unmet needs of patients suffering with sight threatening diseases,” said interim CEO Dr. Ram Bhandari. “The proceeds will accelerate our ongoing IND efforts for RO-104. Additionally, the funds will be used to strengthen RevOpsis’ research capabilities to further develop a pipeline of first and best-in-class retinal treatments. We are grateful for the support of our investors and excited to continue advancing the RevOpsis mission of bringing responsible and affordable therapeutic innovation to patients worldwide.”

With the recent infusion of capital, RevOpsis is well positioned to further develop its first-in-class lead candidate and move forward the pipeline research efforts.

About RO-104
Leveraging the proprietary Rev-Mod platform, RO-104 is RevOpsis’ current lead candidate. Engineered as a first-in-class fully human modular tri-specific biologic designed to address all three clinically validated dominant angiogenic pathways (VEGF-A, VEGF-C, Ang-2) implicated in retinal vascular disease progression, including neovascular age-related macular degeneration (nAMD). RO-104 represents a significant innovative advancement in the treatment landscape for retinal vascular diseases. Backed by a significant body of preclinical evidence demonstrating intended efficacy and safety in established animal models, RO-104 heralds a transformative approach positioned to redefine the current standard of care for patients with nAMD.

About Rev-Mod Platform
The proprietary Rev-Mod Platform employs a modular ‘plug-and-play’ approach to streamline and expedite the efficient discovery and development of multispecific biologics targeting a wide spectrum of chronic, prevalent, large diseases, that are the leading causes of death and disability worldwide. Our proprietary platform boasts a vast library of nearly 30 billion fully human antibody components in a structured phage display system, facilitating rapid identification and assembly of multispecific product candidates. With seamless compatibility, the Rev-Mod platform enables swift and efficient design of multispecific biologics to address unmet needs in major therapeutic areas including ophthalmology, oncology, and immune-mediated diseases.

About RevOpsis Therapeutics
Founded in 2018, RevOpsis Therapeutics is a privately held, next-generation biopharmaceutical company spearheading innovation in ophthalmic therapies. Guided by a team of leading physicians, scientists, and business leaders, we are dedicated to leveraging our proprietary Rev-Mod Platform to develop and commercialize groundbreaking treatments for chronic multifactorial diseases. With a steadfast commitment to responsibly advancing patient care, we aim to usher in a new era of improved disease management and extended disease remission. For more information, please visit www.revopsis.com.

1. Market Scope. “2023 Retinal Pharmaceuticals Market Report: Global Analysis for 2022 to 2028.” August 2023. Retrieved from https://www.market-scope.com/pages/reports/401/2023-retinal-pharmaceuticals-market-report-global-analysis-for-2022-to-2028-august-2023

SOURCE RevOpsis

SomosVC’s comprehensive analysis into the current landscape of Latino/a VC professionals underscores the pressing need for new approaches to build a more inclusive industry

SAN FRANCISCO, April 25, 2024 — Latino/a individuals make up less than 2 percent of investors in venture firms with over $100 million in assets under management, according to new research released today by SomosVC, a trailblazing nonprofit dedicated to advancing Latino/a representation in venture capital. Issued as part of the annual “State of Latino/a VCs” report, the findings highlight the significant gaps in representation for Latino/a professionals in the field, given that they comprise nearly one-fifth of the total U.S. population.

“Latino/a talent remains significantly untapped, and when given the opportunity, Latino/a investors and fund managers can have an immense positive impact on both the economy and the tech ecosystem,” said Mariela Salas, executive director of SomosVC. “It is time to take decisive steps towards equitable representation and make the most of a tremendous opportunity. To unlock the full potential of Latino/a talent in venture capital is to fuel the engines of innovation and growth across the nation.”

The U.S. Latino economy is continuing to accelerate, with significant contributions as both consumers and producers, growing to the world’s 5th largest GDP if considered independently. Despite this overall growth, the VC industry still shows considerable underrepresentation among Latino/a investors — compounded by the fact that the broader venture funding landscape has reached a 6-year low.

“As a country, we need to adopt educational, workforce, and new venture capital allocation policies that significantly invest in the fastest-growing, youngest cohort of innovators,” said Lili Gangas, chief technology community officer of Kapor Center. “The overall innovation economy lacks the voice and vision of the Latino/a community to share a more responsible tech-enabled future. It is imperative to support organizations  like SomosVC to not only train the next generation of Latino/a VC professionals, but also help leadership advancement of VC partners at firms of all stages are vital for prosperity that impacts us all.”

Among the key findings of the report include:

• 79% of venture funds over $100 in AUM  have no Latino/a investment professionals at all.
• Gender disparity also persists in the field, with only 24% of Partner-level Latino/as in emerging funds being women.
• Latino/a led firms are more likely to invest in diverse founders – 48% of portfolio company founders identify as underrepresented people of color.
• Latino/a-led firms in the SomosVC community have played a pivotal role in job creation, with investments leading to an estimated 51,612 new jobs.

To download the report, please visit: https://www.somos.vc/resources/2023-annual-report

About SomosVC:
SomosVC is a 501(c)(3) non-profit organization focused on unlocking opportunities for Latino/a VC investors, developing a community that leaves a lasting impact on the venture capital ecosystem. Our mission is simple: to accelerate and elevate the presence of Latinos/as in venture capital. We believe that when venture investors are empowered to show up as their authentic selves, the flow of capital from limited partners to venture capitalists and ultimately to startup founders becomes more diversified, impactful, and representative of U.S. demographics. For additional information, visit https://www.somos.vc.

SOURCE SomosVC

SINGAPORE, April 25, 2024 — OKX Ventures, the investment arm of OKX, a leading cryptocurrency exchange and Web3 technology company, has issued updates for April 25, 2024.

OKX Ventures Announces Series A Round Investment for Movement, the First Ethereum MoveVM Layer 2 Network

OKX Ventures today announced its Series A round investment in Movement Labs, a pioneering blockchain development company. Movement Labs is creating a secure, scalable, and developer-friendly blockchain infrastructure that combines the best aspects of modular and monolithic architectures.

By building the first MoveVM Layer 2 (L2) on Ethereum through their innovative MEVM (Move + EVM) Zero-Knowledge L2 solution. This enables developers to build high-performance, secure applications while leveraging the liquidity and network effects of the Ethereum ecosystem. The integrated execution environment provided by Movement Labs empowers developers with increased agency and the ability to build without barriers.

OKX Ventures Founder Dora Yue said: “We are delighted to participate in the investment for Movement, Movement is a Move language-based EVM modular network that optimizes the security and performance bottlenecks of Solidity. It combines the security and parallelism of smart contracts with the liquidity and user base of EVMs to create a faster, cost-effective, more flexible, and compatible Layer 2 network. Its M1 and M2 products are designed to enable developers to build and deploy move language infrastructure, applications, and modular frameworks for blockchain in any environment, empowering the mass adoption and growth of Move language in the future.”

Learn more about Movement Labs by visiting movementlabs.xyz, or following them on X @movementlabsxyz and on Discord: discord.gg/movementlabsxyz.

For further information, please contact:
[email protected]

About OKX Ventures

OKX Ventures is the investment arm of the second-largest crypto exchange by trading volume and Web3 technology company OKX, with an initial capital commitment of USD 100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.

Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.

Find out more about OKX Ventures here.

Disclaimer

SOURCE OKX Ventures

The Evolution Technology Fund III LP is the largest dedicated cybersecurity fund raised to date.

Growth and early growth stage investor committed to investing in UK and EU based cybersecurity companies safeguarding the digital world.

LONDON, April 25, 2024 — Evolution Equity Partners announced the final closing of Evolution Technology Fund III, LP on April 16^th, 2024, and total capital commitments of $ 1.1 Billion to back visionary entrepreneurs building next generation cybersecurity companies that safeguard the digital world. The fund raise was oversubscribed by existing and new limited partners representing a diversified mix of leading institutions, sovereign investors, insurance companies, endowments, foundations, fund of funds, family offices, and high-net-worth individuals. The capital commitment includes funding from British Patient Capital, the UK’s largest domestic investor in venture and venture growth opportunities and a subsidiary of the British Business Bank.

The capital committed gives Evolution Equity Partners a dedicated pool of capital to pursue opportunities for investment ranging from $20 million to $150 million in cybersecurity. The firm’s strategy is to build a well-diversified portfolio across key cybersecurity company building ecosystems in the United States, United Kingdom, the EU and Israel. Significant investments made to date by Evolution in the United Kingdom and EU include: AVG Technologies, Quantexa, Panaseer, DF Labs, Logpoint, CounterCraft, Cognitive Security, Eperi, Cybsafe, Tatum, Elliptic, Arqit, Metomic amongst 60 portfolio companies the firm has backed.

Richard Seewald, Founder and Managing Partner at Evolution Equity Partners, said, ” Over the past 25 years, we have witnessed firsthand the strong cybersecurity entrepreneurial talent pool in the UK and EU. First, while building AVG Technologies, a European based cybersecurity company that our team took public on the New York Stock Exchange in 2012 and thereafter in numerous European companies we have helped scale. For UK and EU based cybersecurity companies looking to build and grow internationally, Evolution is the ideal partner to equip companies with the knowledge, tools and strategy to drive performance and outcome. The expertise that Evolution has on the ground in Europe is unparalleled in the industry. We look forward to working with best of breed entrepreneurs and building European champions.”

Christine Hockley, Managing Director, Funds at British Patient Capital, said: “Evolution Equity Partners’ cybersecurity specialism coupled with proven investment credentials positions them to successfully support the UK’s leading technology companies as they scale. We are delighted to invest in this fund, which aligns with our objective of supporting promising companies to access the long-term financing they need to fulfil their growth potential.”

Evolution Equity Partners was founded by investor and technology entrepreneurs Richard Seewald and Dennis Smith, who manage and lead the firm, and a specialist team of 30 professionals based out of New York City, Palo Alto, London and Zurich. The team members have been founders, operating executives and investors in leading software companies around the world and are committed to the mission of helping exceptional entrepreneurs develop market leading companies. Evolution Equity Partners’ Centers of

Excellence for Cybersecurity Growth, the firm’s high performance engine, has a clear goal: To provide the ultimate operating playbook on how to effectively take cybersecurity startups from idea to IPO and help equip companies with the knowledge, tools and strategy to drive performance.

About Evolution Equity Partners

Evolution Equity Partners, based in New York City, Palo Alto, London and Zurich, makes investments in rapidly growing cybersecurity software companies that safeguard our digital world. The firm was founded by investor and technology entrepreneurs Richard Seewald and Dennis Smith, who manage and lead the firm and its partners have been involved as founders, investors and as senior operating executives in leading software companies around the world. Evolution currently has over $2 billion of assets under management in a growing portfolio of market leading companies. The Evolution partners include Richard Seewald, Dennis Smith, Taher Elgamal, Aron Khurana, J.R. Smith, Karthik Subramanian, Yuval Ben-Itzhak and Karel Obluk. Learn more at www.evolutionequity.com and follow us at LinkedIn and Twitter.

Logo – https://mma.prnewswire.com/media/2387912/Evolution_Equity_Partners_Logo.jpg 

TORONTO, April 24, 2024 — Tri Ri Asset Management Corp today disclosed a strategic transition in its leadership, effective immediately. Asad Ali, the incumbent Chief Investment Officer, will pivot to a leadership role within Tri Ri’s Venture Fund following a brief hiatus.

During his tenure as Chief Investment Officer, Mr. Ali presided over the core fund, delivering notable returns of 115.80% annualized over a four-year span. His stewardship played a pivotal role in steering the fund through favorable market conditions.

Tri Ri acknowledges Mr. Ali’s significant contributions to the firm’s success. The decision to transition Mr. Ali reflects the company’s commitment to aligning leadership roles with evolving organizational dynamics.

Tri Ri maintains a steadfast dedication to upholding its esteemed reputation in the financial industry. The leadership transition underscores the firm’s unwavering commitment to optimizing performance and maintaining the trust of its stakeholders.

During this interim period, Adeel Hussain, Senior Portfolio Manager, will assume leadership responsibilities. TRAM assures stakeholders that leadership remains firm and a new Chief Investment Officer will be announced in the coming weeks.

The company extends its best wishes to Mr. Ali as he embarks on this new chapter within Tri Ri’s Venture Fund.

About Tri Ri Asset Management Corp

Tri Ri Asset Management Corp is a concentrated, research-intensive, fundamental value investor in the public markets. Since 2019, Tri Ri has executed an aggressive but disciplined growth strategy, building a balanced portfolio of public market and real estate holdings. As of March 2024, Tri Ri’s portfolio composed of USD 850 million in assets under management along with USD 1.2 billion in Co-investments and 7 renowned properties with over 1500 rooms.

Logo – https://mma.prnewswire.com/media/2396601/Tri_Ri_Asset_Management_Logo.jpg

All-in-one platform dedicated to coffee raises from Base10 Partners to expand footprint.

NEW YORK, April 24, 2024 — Dripos, a comprehensive software platform built specifically for coffee shops, is thrilled to announce its $11 million Series A funding round, led by Base10. This investment will fuel Dripos’ continued mission to transform the way coffee shops operate.

Dripos has emerged as a game-changer for its customers, whose adoption has led to the company’s recent exponential growth. In 2023 alone, the number of locations relying on Dripos increased 400%, solidifying its presence in coffee shops across 46 states nationwide and processing hundreds of millions in annual payments. By seamlessly integrating specialized tools for point-of-sale (POS) and mobile payments, employee management and payroll, loyalty and marketing automation, as well as comprehensive administrative functions like accounting and banking, Dripos has become the go-to solution for coffee shop owners seeking a unified and efficient platform to boost operational productivity.

“Coffee shop owners have long grappled with the challenge of juggling 5-10 software solutions to meet their operational needs,” said Jack Pawlik, Co-founder & Co-CEO of Dripos. “With Dripos, we’re empowering coffee shops to ditch their previous tech stack for the first true all-in-one solution, revolutionizing the way they do business.”

The focus on a coffee shop’s workflow and the all-in-one nature of the product has resonated deeply with Dripos’ customer base who feel their needs were being ignored by existing providers. Manny Caral, owner and operator of Revolucion Coffee + Juice with 5 locations in Texas, recently switched his locations to Dripos.

“Instead of using Toast or Square as a POS, 7Shifts for scheduling, ADP for payroll, Otter for 3rd party order management, and many other tools we are able to achieve this and even much more through Dripos. The product has allowed us to streamline our day to day operations and give us time back to focus more on our customer experience,” said Manny.

Dripos’ impressive traction and growth trajectory are a testament to its product obsessed team and visionary leadership. The company’s co-founders boast over eight years of experience in building food tech startups, with multiple ventures backed by Y Combinator. Additionally, Dripos has garnered support from an esteemed group of angel investors, including Michael Siebel of Y Combinator, Shyam Rao (founder of Punchh, acquired for $500+ million by Partech), and Ian Crosby (founder of Bench and Teal, and former Head of Fintech at Shopify), among others.

“We invest in Automation for the Real Economy and it doesn’t get more ‘Real Economy’ than coffee shops and the small business owners who power them,” said Caroline Broder, Principal at Base10 Partners, who led the Series A and will be joining the Dripos board. “Dripos provides a business-in-a-box platform for its customers, allowing coffee shops to focus less on the expense of running basic operations, and focus more on delivering an exceptional experience for its customers and employees with every order.”

About Dripos

Dripos is the only piece of software a coffee shop needs to operate their business. The platform offers specialized point-of-sale (POS) and mobile payments, employee management and payroll, loyalty and marketing automation, as well as comprehensive administrative functions like accounting and banking, and has become the go-to solution for coffee shop owners seeking a unified operational platform. Founded by Jack Pawlik and Avery Durrant, Dripos is a New York based company.

Connect via dripos.com

About Base10 Partners

Founded by Adeyemi Ajao and TJ Nahigian, Base10 is a San Francisco-based venture capital fund investing in founders who believe purpose is key to profits and in companies that are automating sectors of the Real Economy. This includes heavily investing in Business-in-a-Box companies, which employ a multi-product strategy to consolidate core business operations in one platform that is purpose-built for a particular Real Economy end vertical or sector. Through its program the Advancement Initiative, Base10 donates 50% of profits to underfunded colleges and universities to support financial aid and other key initiatives. Portfolio companies include Notion, Figma, Nubank, Stripe, Popmenu, WeTravel, and MoeGo.

Connect via base10.vc

SOURCE Dripos

Funding Supports Regulatory Submissions and Clinical Milestones for Proprietary Extravascular (EV) Pacing & Implantable Cardioverter Defibrillator (ICD) Lead Systems

SAN CLEMENTE, Calif., April 24, 2024 — AtaCor Medical Inc., a privately-held medical device company delivering the next generation of extravascular leads to advance the care of cardiac rhythm management (CRM) patients, announced today that it has completed a $28M Series C financing round.  The new financing was led by Arboretum Ventures and includes existing investors Longview Ventures, Hatteras Venture Partners, Catalyst Health Ventures, and BayMed Venture Partners. AtaCor plans to use the new funds to support FDA submission for its extravascular temporary pacing lead system as well as completion of a pilot study for the third generation EV-ICD lead system.

“Arboretum Ventures is thrilled to lead this round and collaborate with the world class team at AtaCor in their efforts to deliver pioneering EV cardiac rhythm management solutions. The AtaCor technology has the potential to significantly improve the lives of millions that rely on pacemakers and ICDs for life sustaining rhythm management,” shared Jan Garfinkle, Founder and Managing Partner at Arboretum Ventures.

“We welcome the Arboretum team to AtaCor and look forward to having Jan’s expertise and guidance in the boardroom,” said Rick Sanghera, CEO of AtaCor Medical. “As we plan for our upcoming clinical and regulatory milestones, this investment supports efforts that will bring AtaCor’s novel products to patients.”

AtaCor’s proprietary EV cardiac pacing and defibrillation lead systems are being designed to provide critical CRM therapy without placing any hardware inside the patient’s heart; leaving the heart untouched and protected for future care needs. In addition, the AtaCor solution will allow for:

• Temporary pacing lead placement without the need for medical imaging for faster, less-invasive therapy delivery; and
• EV-ICD lead designs that use existing, commercially available ICDs, offering physicians flexibility in their device selection.

AtaCor’s EV-ICD and temporary pacing systems have been evaluated in several clinical studies and are designed to offer an important alternative treatment option for patients requiring bradycardia and implantable defibrillation therapies.

“We are thrilled to partner with Arboretum Ventures on the next steps of AtaCor’s development that expands its product platform of extravascular cardiac pacing and defibrillation,” said existing investor and Board Chair, Maria Berkman of Longview Ventures. “Producing safe, effective, and readily deliverable EV ICD and pacing options continues to address a significant unmet need, and we are confident about AtaCor’s promise to deliver novel solutions in this space.”

About AtaCor Medical, Inc.

Atacor Medical is transforming cardiac pacing and defibrillation lead technology with its proprietary extravascular cardiac rhythm management system that provides the full benefits of traditional, transvenous implantable cardiac defibrillation and temporary pacing without placing leads or devices in the heart or vascular system; maintaining the integrity of the heart for future cardiac care needs.

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

SOURCE AtaCor Medical Inc.

The oversubscribed round was Initiated by Mucker Capital and Everywhere Ventures, with participation from Tau Ventures, Riverfront Ventures, DHVP, Boutique Venture Partners, Plug and Play Ventures and Techstars.

LOS ANGELES, April 24, 2024 — Handl Health, a first-to-market AI platform built to help benefits consultants design and deliver affordable health benefits, today announced an oversubscribed $2.5M Seed fundraise initiated by Mucker Capital and Everywhere VC, with participation from Tau Ventures, Riverfront Ventures, DHVP (Digital Health Venture Partners), Boutique Venture Partners, Plug and Play Ventures and Techstars. This funding will enable Handl Health to realize its vision of revolutionizing employer-sponsored healthcare through data-driven health plan design and management.

Handl Health was founded in 2022 after founders Ahmed Marmoush and Ria Shah were awarded a Phase I Small Business Innovation Research (SBIR) grant from the National Institute of Health (NIH) to research the effect of price transparency legislation – such as Hospital Price Transparency and Transparency in Coverage – on the American employer and consumer. This research led to the development of Handl Health’s platform, which leverages proprietary AI models to mine, clean and organize healthcare price transparency data from publicly available sources at scale. Today, the platform is used by benefits consultants across the country to build affordable health plans for their employer clients. With the Seed funding, Handl Health plans to invest in further advancing its analytics and workflow automation capabilities to give benefits consultants a single place to access verified price transparency data to build and manage high performing health plans.

“We are thrilled to announce this significant milestone in our journey. Securing $2.5M seed funding from our esteemed investors validates our vision and underscores their confidence in our ability to revolutionize the employer-sponsored benefits market,” shares Ahmed Marmoush, CEO & co-founder of Handl Health. “This funding not only fuels our growth but also affirms our commitment to empowering brokers and transforming the way health plans are built and managed.”

In addition to their Seed funding, Handl Health has been awarded a $1.3M Phase II SBIR grant from the National Institute of Nursing Research of the NIH (Award Number R44NR021119) to drive the development of an interconnected system that manages pre-appointment billing and payment of healthcare services between third party administrators, providers and plan members. With the Seed funding and Phase II grant, Handl Health’s trajectory promises to revolutionize the ecosystem of employer-sponsored benefits, from building plans to paying for care.  

“We’re proud to support Handl Health in their Seed raise, and are excited about their innovative approach and dedication to revolutionize the way employer-sponsored benefits are designed and delivered,” explains William Hsu, Partner and co-founder at Mucker Capital. “With their rapid momentum, we have no doubt that Handl Health will deliver valuable and transformative solutions to brokers and employers.”

Research reported in this publication was supported by the National Institute Of Nursing Research of the National Institutes of Health under Award Number R44NR021119. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.

About Handl Health
Handl Health (Techstars ’23, AlphaLab Health ’23) is a first-to-market AI platform that aggregates and analyzes publicly available healthcare pricing data to help benefits consultants convert new business, retain clients and execute on savings opportunities. Fueled by newly published hospital and health plan price transparency data, Handl Health’s platform introduces the next generation of possibilities for employer-sponsored benefits. To learn more, visit: www.handlhealth.com.

Media Contact: [email protected]

About Mucker Capital
Founded in Santa Monica, CA in 2011, Mucker Capital provides Pre-Seed, Seed and Series A capital and support for startups in Southern California and in other, similarly underfunded ecosystems outside Silicon Valley.

SOURCE Handl Health

LONDON, April 24, 2024 — Tquila today announced the launch and first close of the Tquila Paloma Fund (the “Paloma Fund”), with $40m of commitments representing two-thirds of its target capital raise of $60m.

Tquila is a global technology venture-building company, founded by James McHugh in 2010. Tquila has built a thriving portfolio of fast growth technology service businesses across multiple geographies including the US, EMEA, Japan and Australia, bringing a combination of investment with expertise across accelerated growth, talent acquisition and operations.

Tquila invests in companies from seed through to exit, either as stand-alone entities or with co-investment from consulting technology firms and software companies, creating over $1b of equity value since its inception. Its current portfolio includes businesses focused on Data, AI, ServiceNow, Microsoft Dynamics, Google Cloud, Salesforce, UiPath, AWS and Snowflake.

The Paloma Fund will accelerate the current portfolio, as well as expand Tquila’s investments into a broader range of technologies and geographies. 

Tquila has built an impressive team of industry and asset management experts to deliver on its strategy, including Carsten Jorgensen, former Chair and CEO of the Mittal Family Investment Office and Head of Investments at Inter IKEA Fund Management. Carsten will Chair the Paloma Fund and said that “The Paloma Fund reaching a solid first close in under six months is testimony to the unique opportunity Tquila offers investors and clients to partner with the in-demand software companies, and to a committed and talented group of tech entrepreneurs.”

James McHugh, founder and CEO of Tquila, former founder, CEO and Chairman of K2 Partnering Solutions said, “We are fortunate to have a world class team of entrepreneurs invested with, as advisors to, and as partners of — our inaugural fund.  All of us at Tquila are delighted to be working with Carsten and the Paloma Fund team. The experience, focus and professionalism they’ve brought to the group has allowed us to accelerate our opportunity and with that, growth.”

SOURCE Tquila