With AI reaching billions worldwide, LMArena delivers transparent, real-world evaluation of frontier model performance

SAN FRANCISCO, Jan. 6, 2026 — LMArena, the community platform redefining how the world measures the progress of AI, today announced it has raised $150 million in new funding, achieving a post-money valuation of $1.7 billion, nearly triple the valuation following its seed round in May 2025. Funding was led by Felicis and UC Investments (University of California), with participation from Andreessen Horowitz, The House Fund, LDVP, Kleiner Perkins, Lightspeed Venture Partners and Laude Ventures. The raise reflects a shared conviction across the industry: AI cannot scale responsibly without transparent and continuous third-party evaluations.

This investment accelerates LMArena’s mission to measure and advance the frontier of AI for real-world use, enabling developers, researchers, enterprises and everyday users to understand how models behave where it matters most: in practical, everyday tasks. LMArena will use the funding to operate its platform, expand its technical team and strengthen its research capabilities.

“We cannot deploy AI responsibly without knowing how it delivers value to humans,” said Anastasios Angelopoulos, co-founder and CEO of LMArena. “To measure the real utility of AI, we need to put it in the hands of real users. LMArena does exactly this, leveraging feedback from tens of millions of consumers and professionals to set the North Star of the AI industry. Our evaluations use a transparent, open-source methodology to make these insights public for everyone. This funding accelerates the scientific work and community insights that make live evaluation from real users the gold standard for assessing AI in practice.”

LMArena’s community now spans more than 5 million monthly users across 150 countries, who collectively generate more than 60 million conversations every month, allowing for deep analysis of model capabilities in coding, textual reasoning, professional use cases like law or medicine, searching and citing sources, creative tasks like image or video generation, and more. This extraordinary global engagement underscores a clear shift: the world expects AI to be measurable, comparable and accountable to real people. 

“Progress in AI can’t be measured in labs by benchmarks alone. It needs to take into account how real people want to use these systems and what they prefer,” said Peter Deng, general partner at Felicis. “We’re leading this round because LMArena has built the most trusted, reliable, real-world signal of AI performance. They have become essential infrastructure for every lab and enterprise.”

Demand for trustworthy third-party evaluation has surged due to intense competition between AI labs. LMArena works with leading AI labs and enterprises, including OpenAI, Google and xAI, all drawing on LMArena’s evaluations to improve their models for production use cases and user preferences. LMArena earns revenue by providing paid AI evaluation services to AI labs and enterprises that measure model performance for users across economically valuable industries like software engineering, law, medicine, scientific research and more; its first commercial product launched in September 2025. LMArena’s annualized consumption run rate surpassed $30 million in December, less than four months after launching its AI evaluation product.

The company’s strategy is grounded in a core belief: reliable AI requires open standards, methodological rigor and evidence derived from a diverse panel of real users.

“Without a trustworthy way to measure performance, AI can’t be safely scaled,” said Jagdeep Singh Bachher, the University of California’s chief investment officer. “LMArena delivers clarity and confidence for researchers, developers and businesses. As AI adoption accelerates, LMArena’s tools are becoming critical infrastructure.”

About LMArena

LMArena is an open platform where everyone can access and interact with the world’s leading AI models and contribute to AI progress through real-world feedback. Built with scientific rigor and transparency at its core, LMArena enables developers, researchers, knowledge workers and enthusiasts to compare model outputs, uncover performance differences and advance the reliability of AI systems. With a commitment to open access, reproducible methods and diverse human judgment, LMArena is building the foundation for the world to understand, shape and benefit from AI. Learn more at lmarena.ai. 

Contact

[email protected]

SOURCE LMArena

SAN FRANCISCO, Jan. 6, 2026 — H.I.G. Growth Partners (“H.I.G. Growth”), the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $74 billion of capital under management, is pleased to announce the sale of its portfolio company ProsperOps, Inc. (“ProsperOps” or the “Company”), a provider of autonomous cloud cost optimization software, to Flexera, a portfolio company of Thoma Bravo.

Headquartered in Austin, Texas, ProsperOps is a leading FinOps automation platform for cloud cost optimization across Amazon Web Services (“AWS”), Google Cloud Platform, and Microsoft Azure. The Company enables enterprises to manage cloud commitments autonomously, helping finance, engineering, and procurement teams move from manual, recommendation-based workflows to automated savings execution.

H.I.G. Growth Partners invested in ProsperOps in December 2022 and worked closely with management to support the Company’s transformation and to scale its operations. During H.I.G. Growth’s ownership, ProsperOps grew annual recurring revenue more than six-fold and increased EBITDA by more than nine-fold. Over the last three years, ProsperOps has evolved rapidly, expanding from a single-product, single-cloud solution into a multi-product platform supporting all three major cloud service providers, while significantly broadening its addressable market and customer value proposition. The Company now manages approximately $6 billion in annual cloud spend for its customers.

Chris Cochran, CEO and Co-Founder of ProsperOps, said, “ProsperOps was founded on the belief that many of the critical cloud cost optimization use cases, particularly rate optimization, could be delivered through AI-enabled management. As the market matures, customers are asking for more than point solutions; they want unified rate optimization, workload optimization, and cost visibility. With H.I.G.’s help, we significantly scaled the platform and organization, and we are now uniquely positioned to deliver the comprehensive FinOps platform that organizations have been asking for as we enter the next phase with Flexera.”

Ross Hiatt, Managing Director and Head of H.I.G. Growth, said: “Since our investment in ProsperOps, we have been proud to partner with Chris and the broader team to help build a clear leader in FinOps automation. The team’s focus on product innovation, disciplined execution, and customer outcomes has driven exceptional growth and platform expansion. We are proud of what the team has built and believe the Company is well-suited to continue its development within Flexera’s portfolio.”

Albert Koh, Managing Director at H.I.G. Growth, said: “ProsperOps’ evolution over the past several years reflects the power of combining a world-class management team with a clear vision for product innovation. From expanding the platform across all major cloud providers to scaling the organization globally, the Company has consistently executed ahead of expectations. We are grateful for our partnership with Chris and the entire ProsperOps team and we are confident that they will continue to thrive as part of Flexera.”

About ProsperOps

ProsperOps, is the leading FinOps Automation Platform for cloud cost optimization on Amazon Web Services (AWS), Google Cloud, and Microsoft Azure. Eliminating waste and achieving cost savings goals is challenging when cloud usage is dynamic, but commitments are manual. Founded in 2018, the platform automates and synchronizes rate optimization with workload optimization, eliminating waste, reducing costs and risk, and improving efficiency for FinOps teams. With the platform, customers achieve world-class Effective Savings Rates, lower Commitment Lock-In Risk, and maximum flexibility. ProsperOps autonomously manages $6 billion of annual cloud usage and has generated over $3 billion of lifetime savings.

About H.I.G. Growth Partners

H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $74 billion of capital under management.* H.I.G. Growth seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe, and Latin America. H.I.G. Growth Partners considers investments across all industries but focuses on certain high-growth sectors where it has extensive in-house expertise, such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. H.I.G. Growth strives to work closely with its management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting, and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at HIGgrowth.com.

*Based on total capital raised by H.I.G. Capital and its affiliates.

Contact:

Ross Hiatt
Managing Director
[email protected]

Albert Koh
Managing Director
[email protected]

H.I.G. Growth Partners
One Sansome Street
37^th Floor
San Francisco, CA 94104
P: 415.439.5500
higgrowth.com

SOURCE H.I.G. Capital

Growth Investment Led by Maverick Silicon to Disrupt AI and Semiconductor Services

SAN JOSE, Calif., Jan. 6, 2026 — GS Microelectronics U.S., Inc. (GSME) today announced a $35 million Series B round led by Maverick Silicon to expand its semiconductor services platform across advanced packaging, design enablement, and supply chain visibility. This funding follows a landmark year for GSME, reflecting strong confidence in the company’s bold vision and a series of strategic acquisitions that have accelerated growth by integrating specialized talent and methodologies into a unified portfolio.

Maverick Silicon’s backing validates GSME’s position as more than a traditional semiconductor service provider. GSME is redefining the industry by empowering customers through end-to-end supply chain visibility and a groundbreaking design enablement platform. This unified ecosystem integrates advanced packaging, simulation, and supply chain intelligence to accelerate development while ensuring full operational control.

“Partnering with Maverick Silicon is a milestone that reflects the strength of our strategy and the uniqueness of our offerings,” said Farhat Jahangir, President and CEO of GSME. “This funding is more than just capital; it is a vote of confidence in our vision to transform semiconductor services into a transparent, value-driven ecosystem. We are building solutions that are hard to replicate.”

“We are thrilled to lead GSME’s Series B round,” said Manish Muthal, Senior Managing Director at Maverick Silicon. “GSME is charting a new course in the semiconductor industry by combining transparency, innovation, and customer-centric solutions. Their unique approach to supply chain visibility and differentiated offerings positions them as a true disruptor. We believe GSME is building the future of semiconductor services, and we are proud to support their journey.”

Looking ahead at 2026 and beyond, GSME is entering a new era of growth and disruption. Backed by Series B funding, the company is expanding into AI-driven chip design services and advanced workflows, with the specific focus on advanced technology. By bridging consultancy and technical execution, GSME is setting a new global standard for innovation. Several additional acquisitions are in the final stages of the pipeline, to further enhance the company’s growth.

Series B funding will accelerate GSME’s roadmap across three major areas.

• 2.5D/3D Packaging: Scaling advanced packaging & design services, including CoWoS-class architectures, to support AI, HPC, and RF customer requirements.
• AI-Digital Brain: Launching AI agent-based platform with intelligent decision-making for real-time alerts, risk mitigation, yield enhancement, and predictive modeling.
• Strategic Growth: Integrating recently acquired companies including Sinble & Muse into a unified execution engine to enhance design, software, and engineering capabilities.

The company intends to use the proceeds from the funding to accelerate R&D, expand its platform development, and support strategic acquisitions and hiring.

About GSME
GS Microelectronics U.S., Inc. (GSME) is a leading semiconductor solution provider, headquartered in San Jose, California, with a global footprint across Taiwan, Vietnam, and Oman. GSME delivers tailored silicon solutions through cutting-edge technology and expertise. Its services include end-to-end chip design, turnkey manufacturing, quality assurance, and strategic incubation, enabling customers to accelerate innovative products to market.

About Maverick Silicon
Maverick Silicon is a division of Maverick Capital focused exclusively on the semiconductor and computing infrastructure sector. Maverick Capital is an investment adviser founded by Lee S. Ainslie III with over thirty years of operating history.

Contact:
GSME Press Relations
[email protected]
www.gsme.com

SOURCE GS Microelectronics

HILO, Hawaiʻi, Jan. 6, 2026 — Waiākea Hawaiian Volcanic Beverages is excited to welcome Tetairoa McMillan (T-Mac), NFL rising rookie sensation for the Carolina Panthers; Devin Williams, recently signed MLB pitcher for the New York Mets; and Jerami Grant, veteran NBA forward for the Portland Trail Blazers; into the Waiākea ‘ohana as its newest athlete investors & impact partners.

As leaders in their respective sports, McMillan, Williams, and Grant share a common belief that purpose-driven partnerships can create meaningful impact. Their connection to Waiākea reflects alignment with the company’s long-standing commitment: putting people and planet first, and practicing Mālama i ka ‘Āina — the responsibility to care for and respect the land and those it sustains. Each joins the brand in support of its mission to use business as a force for good, helping carry forward what it means to Live Aloha in sport and beyond.

Raised in Waimānalo, Hawai’i, Tetairoa McMillan enters the league as a standout rookie in the 2025 NFL season. Drafted eighth overall, the 2024 Consensus All-American and University of Arizona’s all-time receiving leader has quickly emerged as one of football’s most promising young talents and a leading candidate for 2025 Offensive Rookie of the Year.

McMillan joins fellow investors Devin Williams, two-time MLB All-Star, former NL Rookie of the Year, and newly acquired pitcher for the New York Mets, and Jerami Grant, a 12-year NBA veteran, 2021 Most Improved Player finalist, and 2020 Olympic Gold Medalist. Together, they bring a shared sense of integrity, discipline, and community stewardship that aligns naturally with Waiākea’s mission.

“Waiākea represents the pride of Hawai’i and the power of doing things the right way,” said McMillan. “Investing in a brand that puts culture and purpose first means a lot to me. I am grateful for the chance to be a part of what’s ahead.”

“I am excited to join the Waiākea team and be part of such an amazing brand,” said Williams. “They have built something special, and I am proud to support their continued growth.”

“Before I met the team and learned what the Waiākea company was all about, I was already a big fan of their water. As I have gotten to know the team better, it’s clear that their focus on family, their philanthropic core, and care for the environment make them the perfect partner for me,” said Grant. “I’m so excited to be a part of this company and community.”

As Waiākea grows into 2026, the brand remains committed to intentional partnerships and sustainability-led innovation, rooted in the values that have guided it from day one. This direction is affirmed by Waiākea’s recent recognition as one of the highest-scoring Certified B Corporations^™ in the beverage and water categories.

“We are incredibly proud to welcome T-MAC, Devin, and Jerami to the Waiākea ‘ohana.” said Ryan Emmons, Waiākea Co-Founder & CEO. “We are not only partnering with the best in their respective sports, but also working with impact leaders who truly believe in our mission and community impact.”

McMillan, Williams, and Grant join Waiākea’s impact partners alongside a list of world-renowned athletes: 3x MLB MVP Aaron Judge, perennial NFL All-Pro and current sack leader Myles Garrett, 4x NBA Champion Klay Thompson, and a number of high-profile Hawai’i born and raised athletes including Heisman Trophy Winning QB and NFL Vet Marcus Mariota, former World Series Champion Shane Victorino, 2x Golden Glove Winner Kolten Wong, current World Series Champion Kirby Yates, US Beach Volleyball Olympian Taylor Crabb, Women’s Pro Surf Legend Coco Ho, and Softball’s Home Run Queen Jocelyn Alo. While this group of talented individuals are most known for their competitive achievements, they are helping to lead the charge outside of sports and share the brand’s belief that companies can be catalysts for positive change.

Media Contacts:

Jason Walter — [email protected]
Lydia Bagarozza – [email protected]

About Waiākea Hawaiian Volcanic Beverages:

Waiākea Hawaiian Volcanic Beverages is a public benefit corporation founded in 2012 in Hilo, Hawai’i with the stated mission of sustainably providing naturally healthy Hawaiian coffee and water products while contributing to and promoting clean water access, conservation, and education for those in need in Hawai’i and throughout the world. Available at thousands of retail locations across Hawai’i and the continental U.S., including Whole Foods, 7-Eleven, Walmart, and more. Waiākea was one of the first in the U.S. to develop and commit to 100% post-consumer recycled packaging in 2012, and continues to be the enviro-tech leader of its category for this and its many other initiatives. Its award-winning taste is derived from its natural filtration through 14,000 feet of porous volcanic rock, making it naturally alkaline and electrolyte-rich. Through its non-profit foundation, the Kōkua Initiative, Waiākea works to empower the people of Hawai’i through a 3 piko approach that encourages educational opportunities, ‘āina-based conservation & sustainability, and support for the most vulnerable in our community. Since its inception, the project has impacted over 495,000 people in Hawai’i.

For more information, please visit the Waiākea website at https://waiakea.com and follow along on Instagram @Waiakea.

SOURCE Waiākea Hawaiian Volcanic Beverages

Leading authority in developmental-behavioral pediatrics serves as a pivotal guide to the Digital Health innovator to accelerate the adoption of objective, eye-tracking screening tools in primary care.

BOSTON, Jan. 6, 2026 — EyeContactDX, a pioneering Digital Health company transforming early autism spectrum disorder (ASD) detection, today announced the strategic engagement of Dr. Carol Weitzman as Senior Strategic Advisor. Dr. Weitzman, a globally recognized leader in Developmental-Behavioral Pediatrics and a key figure in shaping ASD care guidelines, brings unparalleled expertise to EyeContactDX as the company scales its solution for the primary care market.

Dr. Weitzman’s role as a central clinical authority underscores EyeContactDX’s commitment to solving one of the most critical challenges in pediatric healthcare: the gap in early detection that results in diagnosis occurring too late. Her deep clinical insight serves as a compass for the company’s strategy, ensuring that technological innovation is grounded in the realities of pediatric care.

While the demand for ASD evaluations continues to rise, traditional screening methods in primary care often rely on subjective questionnaires, leading to delays in referrals and intervention. EyeContactDX bridges this gap with its proprietary AI-driven technology that uses non-invasive, operator-free eye-tracking to detect biomarkers associated with ASD. The solution is designed specifically for the primary care workflow, utilizing standard, affordable commercial tablets rather than expensive, specialized hardware. This cost-effective approach eliminates the need for complex setup or specialized personnel, offering pediatricians an objective, rapid, and accessible screening tool.

“We are at a pivotal moment where AI and Digital Health intersect with routine pediatric care,” said Aryeh Taub, PhD, CEO of EyeContactDX. “Dr. Weitzman’s profound understanding of the challenges faced by primary care providers, combined with her involvement in the American Academy of Pediatrics (AAP) and the Society for Developmental & Behavioral Pediatrics, makes her the ideal strategic partner for our mission. Her mentorship represents a significant asset as we move from validation to implementation, ensuring our technology empowers pediatricians with objective data to support earlier risk assessment.”

Dr. Weitzman, widely respected for her work in reducing disparities in ASD diagnosis and care, sees the technology as a necessary evolution in the standard of care.

“Primary care providers are on the front lines of early childhood development, yet they often lack objective tools to support effective screening practices,” said Dr. Carol Weitzman. “EyeContactDX’s technology represents a significant leap forward in our ability to screen for ASD risk efficiently and objectively. I am honored to advise the team and help integrate this innovation into daily practice, ensuring that more children receive the timely attention and care pathways they deserve.”

This high-profile advisory appointment coincides with EyeContactDX’s accelerating growth and commercial expansion. The company is currently preparing for strategic deployments across key U.S. markets, focusing on empowering primary care networks with next-generation screening capabilities.

About EyeContactDX

EyeContactDX is a Digital Health company dedicated to revolutionizing the early identification of ASD. By leveraging advanced computer vision and AI, EyeContactDX provides primary care physicians with an objective, non-invasive screening tool that runs on standard commercial tablets. This accessible solution requires no specialized hardware or dedicated personnel, enabling scalable early detection. The company’s mission is to shorten the time to intervention and improve outcomes for children and families worldwide.

For more information, visit https://www.EyeContactDX.com/

Media Contact: Rebecca L. Uranovsky, MPT Clinical Operations Leader, EyeContactDX, [email protected], (713) 909-3881

SOURCE EyeContactDX

NEW YORK, Jan. 6, 2026 — Banner Ridge Partners, a $15.4 billion multi-strategy private equity investment firm, has completed fundraising for Banner Ridge Secondary Fund VI (“BRP VI”) at its hard cap with $4.2 billion of total commitments, including $200 million from Banner Ridge. BRP VI is the latest fund to be raised as part of the firm’s flagship secondary program and the fourth since the firm became an independent business in June 2019. The Fund was oversubscribed, receiving capital commitments from a wide range of institutional investors, including pension funds, insurance companies, endowments, and several prominent family offices.

Since the strategy’s inception in 2010 at its prior firm, the Partners at Banner Ridge have committed over $15 billion to over 200 discrete managers focused on opportunistic credit and special situations globally. Through primary, secondary, and co-investments with specialist private equity sponsors in its target market, Banner Ridge will focus on investing in a subset of the market characterized by both complexity and limited access to information.

Anthony Cusano, Co-Founder and Portfolio Manager, said, “The continued lack of liquidity in the private markets, paired with greater acceptance of secondaries as a portfolio management tool, is driving exceptional opportunities for us. We have continuously expanded our investment team to include a broad array of skills, which has led to increased deal flow and better access to information, allowing us to make more informed investment decisions. We are well positioned to take advantage of the opportunities that arise from being an opportunistic credit and special situations specialist.” C.J. Driessen, Co-Founder, added, “We have made several investments in the Fund and continue to make progress on a robust pipeline of opportunities that align squarely with our proven secondary investment strategy. We are grateful to have been entrusted by an exceptional group of investors and we look forward to continuing our long-term track record of outperformance on their behalf.”

Banner Ridge Partners: 

Banner Ridge Partners is a $15.4 billion alternative investment specialist that identifies best-in-class private equity managers in niche markets. The Firm manages discrete investment vehicles for primary, co-investment, and secondary investment strategies. Banner Ridge is led by a senior team with significant private markets experience. By targeting deep value opportunities, focusing on fragmented markets, and working through structural complexities, we believe we can exceed the investment goals of our clients. To learn more about Banner Ridge, please visit www.BannerRidge.com.

Media contact:
Anthony Cusano
Managing Partner
212.265.4240

SOURCE Banner Ridge Partners

Former Acorns founder joins board as the company prepares for 2026 launch

AUSTIN, Texas, Jan. 6, 2026 — Tesoro XP, a new rewards platform that enables retailers to fund in-game currency for gamers, announced it has raised $5.4 million in seed funding. The round was co-led by Treasury, a New York–based fintech fund, and TK MediaTech Ventures, a new venture firm focused on the next generation of media technologies. Jeff Cruttenden, Founding Partner at Treasury and co-founder of Acorns, has joined Tesoro’s Board of Directors, and TK’s Jim Ward is observing.

Tesoro opens access to premium in-game currency for the 220 million U.S. free-to-play gamers, many of whom have been unable to participate meaningfully in virtual economies. Today, just 15% of players generate more than 65% of App Store gaming revenue due to traditional pay-to-play currency models. Nearly every major game sells virtual currency, yet access is often limited, especially for young or lower-income players, creating both frustration and social pressure.

“Players often feel excluded in today’s top games when they can’t access the latest in-game items,” said Sami Khan, co-founder of Tesoro XP and ATLAS:EARTH. “Publishers want to monetize virtual currency, but they don’t necessarily care who pays for it. Retailers are already spending billions on marketing, and Tesoro connects those budgets to the gaming world in a way that’s performance-based, trackable, and a win for everyone.”

“For the first time since microtransactions in gaming were introduced, Tesoro is creating the next generational revenue model for free-to-play games. And for brands, we’re building a marketing platform that drives loyalty outside of closed-loop systems,” added Khan.

Tesoro gives game publishers a plug-and-play way to integrate real-world retail offers directly into their games. Players earn in-game currency through everyday purchases, and retailers only pay Tesoro when those purchases are verified, creating one of the first performance-driven marketing systems linking real-world spend to game engagement. While details are still confidential, Tesoro is currently in discussions with several major game studios and national retail brands as it prepares for launch.

“Gamers represent one of the most passionate, engaged consumer bases in the world,” said Jeff Cruttenden of Treasury. “Tesoro has built a model that aligns incentives for retailers, publishers, and players in a way we’ve never seen before. This is the rare kind of category-defining innovation we look for.”

“Tesoro is redefining how players, publishers, and retailers interact inside and outside the game,” said Jim Ward of TK MediaTech Ventures. “This model sits at the intersection of media, technology, and consumer behavior, exactly the kind of next-generation platform we’re excited to back.”

The new capital will accelerate Tesoro’s core product and partnership roadmap, including development of its developer SDK, expansion of the publisher portal, and growth of its merchant and publisher partner pipeline. Tesoro will also continue building its engineering and business development teams to support its planned Q1 2026 launch.

Tesoro XP was founded by Sami Khan, Tim Mahler, and Beau Button. Khan and Button previously co-founded Atlas Reality, Inc., the company behind ATLAS:EARTH, a mobile rewards gaming app that recently surpassed $100 million in lifetime revenue. Their experience building large-scale gaming and virtual economy infrastructure uniquely positions them to deliver Tesoro’s vision to publishers and retailers worldwide.

About Tesoro XP

Tesoro XP is the first rewards engine that allows retailers to fund in-game currency for free-to-play gamers. Through Tesoro, game publishers can integrate real-world offers directly into their experiences, creating new revenue channels, deeper player engagement, and performance-driven marketing opportunities. Tesoro XP is backed by The Treasury and TK MediaTech Ventures. Learn more or join the waitlist at www.tesoroxp.com.

SOURCE Tesoro XP

The Fund Will be Managed by Experienced Life Sciences Investor Nishant Rastogi

NEW YORK, Jan. 6, 2026 — Today, the Lupus Research Alliance, the world’s largest private funder of lupus research, announced the formation of a new philanthropic venture fund Lupus Ventures. The Fund is dedicated to advancing treatments and diagnostics for systemic lupus erythematosus (SLE), its manifestations, and related autoimmune conditions.

Lupus is a chronic, complex autoimmune disease that affects millions of people worldwide. Treatment development stagnated for years after the U.S. Food and Drug Administration approved Benlysta^® in 2011. However, with the approvals of Saphnelo^® and Lupkynis^® in 2021, and Gazyva^® in October 2025, the tides are turning. Innovative treatments like engineered cell therapies are showing great promise, and there are over 140 lupus therapies in clinical trials today from more than 120 companies.

With that promise, philanthropic investment in higher-risk, early-stage companies is increasingly powerful. Lupus Ventures aims to bridge the gap between innovative science and commercial reality.

“The Lupus Research Alliance has spent years building a research engine that supports every part of the scientific process — from basic and translational research through clinical development,” Albert T. Roy, President & CEO of the Lupus Research Alliance, said. “Launching Lupus Ventures is the natural — and critical — next step. It allows us to strategically deploy resources and catalyze solutions for people living with lupus, ensuring promising ideas don’t sit on a shelf simply for lack of funding.”

Nishant Rastogi will serve as the Fund’s inaugural Managing Director. Mr. Rastogi is an accomplished life sciences investor with more than a decade of biotech venture capital and private equity experience. He has served as a Board Director and operating partner for multiple biotech and medtech companies throughout his career.

Before joining Lupus Ventures, Mr. Rastogi served as Vice President and Head of Transactions at New Rhein Healthcare Investors. He played an integral role in all aspects of the firm’s evolution and growth — including investment activities, portfolio management, team building, and operations. He was involved in New Rhein’s investments in Corsair (Director), Theranica, Alveus, American Injectables, Butterfly Medical, Softhale (acquired), Neuraptive, and others. Earlier in his career, Mr. Rastogi was an investor at Broadview Ventures and an analyst at Fidelity Investments. He has advised several disease research foundations — including Beyond Celiac, 90/10 Institute, and Parent Project Muscular Dystrophy — on venture fund formation and the role of philanthropy and private investment in advancing new medicines and health equity. Mr. Rastogi earned his BA from Dartmouth College and his MBA from Northwestern University.

“I am grateful to the Lupus Research Alliance for the opportunity to build this platform,” Mr. Rastogi said. “As the world’s only investment fund dedicated to SLE, we are uniquely positioned to support companies developing potential therapies in this area to benefit people living with lupus globally. The combination of recent scientific advancements and investor and industry interest makes this a perfect time to launch the Fund.” 

All companies — regardless of modality or stage of development — are being considered for investment. In addition to capital, the companies will also receive counsel and guidance, leveraging the Lupus Research Alliance’s depth of knowledge gained through its industry leadership. To date, the Lupus Research Alliance has awarded more than $284 million across 650+ research grants, and clinical affiliate Lupus Therapeutics is involved in 25-30% of active clinical trials.

The Fund will be overseen by the Investment Committee that includes Mr. Rastogi, Mr. Roy and Ira Akselrad, President and CEO of The Johnson Company, Inc. and Chair of the Lupus Research Alliance Board of Directors. Teodora Staeva, PhD, Chief Scientific Officer of the Lupus Research Alliance, will serve on its Scientific Advisory Board. The Fund plans to recruit additional experts to the Investment Committee, Scientific Advisory Board, and investment team in 2026.

To learn more about Lupus Ventures, visit www.lupusventures.org.

About Lupus
Lupus is a chronic, complex autoimmune disease that affects millions of people worldwide. In lupus, the immune system, meant to defend against infections, produces autoantibodies that mistake the body’s own cells as foreign, causing other immune cells to attack organs such as the kidneys, brain, heart, lungs, and skin, as well as blood and joints. Ninety percent of people with lupus are women, most often diagnosed between the ages of 15-45. Black, Latinx, Indigenous, Asian and Pacific Islander people are disproportionately affected by lupus.

About Lupus Ventures
Lupus Ventures (dba “The Lupus Venture Fund”) is the venture investment fund of the Lupus Research Alliance. The Fund is dedicated to advancing treatment and diagnostic options for systemic lupus erythematosus (SLE), its manifestations, and related autoimmune conditions. The Fund defines success as improving the standard of care and delivering meaningful value to the millions of people living with lupus worldwide.

Visit www.lupusventures.org for more information.

About the Lupus Research Alliance
The Lupus Research Alliance is the largest non-governmental, non-profit funder of lupus research worldwide. The organization aims to transform treatment by funding the most innovative lupus research, fostering scientific talent, and driving discovery toward better diagnostics, improved treatments and, ultimately, a cure for lupus. Because the Lupus Research Alliance’s Board of Directors funds all administrative and fundraising costs, 100% of all donations goes to support lupus research programs.

For more information or to donate to lupus research, visit the LRA at LupusResearch.org and on social media at: X, Facebook, LinkedIn, and Instagram.

SOURCE Lupus Research Alliance

Kitun is a serial entrepreneur, operator, and investor with a track record of building and scaling innovative companies across media, technology, and private markets.

CHICAGO, Jan. 6, 2026 — GigaStar, a startup bringing YouTube Creators and Investors together, announced that serial media company entrepreneur Scott Kitun has joined the team as Chief Business Officer. He will lead the strategic growth of GigaStar’s primary market and support the company’s secondary market launch, planned for March 16, 2026*.

Kitun co-founded Songfinch, a music-Creator platform that ranked as the #1 U.S. consumer tech company on the Inc. 5000 list in 2023, as it surpassed $100M in lifetime sales and paid ~$50M to artists, and raised capital from titans of music and venture capital, including the late Quincy Jones, The Weeknd, Doja Cat, Goodwater Capital, Corazon, and Valor Equity.

“GigaStar is a unique opportunity for me, and its mission to expand capital access for Creators aligns with the work I’ve done throughout my career,” said Kitun. “Many on the team have built companies together under CEO Hazem Dawani, whom I respect—and I’m excited to join and push the company forward.”

Before Songfinch, Kitun built and exited multiple media companies, including Technori. He is also an investor in 15 startups, including several unicorns, and has been an investor and advisor to Republic and Kingscrowd, where he helped bring the Hamilton Lane Private Infrastructure Fund to market.

He also created and hosted the first live radio show to enable audience members to invest directly in startups via Regulation Crowdfunding (Reg CF) and Regulation A+ (Reg A+) offerings, resulting in over $50 million invested across 100+ companies.

Kitun’s proven track record will help GigaStar expand Creator access to capital while opening up Creator Economy opportunities for investors through a full investor ecosystem.

*Securities purchased in GigaStar Market must be held for 12 months before trading in the secondary market. There is no guarantee of an active or liquid secondary market. Investments are subject to market risk and value fluctuation. 

About GigaStar 
GigaStar fuels human creativity by bringing Creators and Investors together. GigaStar provides Creators with an intuitive platform to raise capital from thousands of Investors who share in the channel’s potential future YouTube revenue while supporting a Creator’s journey. Learn more at gigastar.io.

Creator Networks, Inc. (dba GigaStar) is the Parent Company of GigaStar Portal, LLC (dba GigaStar Market). GigaStar Market is an SEC-registered funding portal and a member of FINRA offering securities under Reg CF. Investment offerings are speculative, illiquid, and involve risks, including risk of loss.

SOURCE GigaStar