Hartford Business Journal

February 11, 2019

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12 Hartford Business Journal • February 11, 2019 • www.HartfordBusiness.com Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters. Note: NA = Not available. —Compiled by Stephanie R. Meagher. THE LIST Notable Connecticut venture capital investments Ranked by 2018 total investment amount FOCUS Notable Connecticut venture capital investments (Ranked by 2018 total investment amount) Rank Company 2018 total investment/ No. of deals Investment stage Industry type/ Investors Top executive/ Title 1 Arvinas Inc. 5 Science Park, 395 Winchester Ave. New Haven, CT 06511 203-535-1456; www.arvinas.com $55,000,000 1 Expansion Health care 5AM Ventures, Canaan Partners, Deerfield Management, Hillhouse Capital Management, New Leaf Venture Partners, Nextech Invest, OrbiMed Advisors, RA Capital Management, Sirona Capital John G. Houston President & CEO 2 Rallybio 400 Farmington Ave., Suite R2818 Farmington, CT 06032 203-859-3820; rallybio.com $43,000,000 2 Early Other Health care 5AM Ventures, Canaan Partners, Connecticut Innovations, New Leaf Venture Partners, undisclosed investors Martin Mackay Co-founder 3 r4 Technologies Ridgefield, CT 06879 r4.ai $27,300,000 2 Early Expansion Internet Pilot Growth Equity, undisclosed investors Paul Breitenbach Founder & CEO 4 IsoPlexis Inc. 35 N.E. Industrial Road Branford, CT 06405 203-208-4111; www.isoplexis.com $19,650,000 1 Expansion Health care Connecticut Innovations, Spring Mountain Capital Sean Mackay CEO 5 Intensity Therapeutics 8 Wright St., Suite 107 Westport, CT 06880 203-682-2434; www.intensitytherapeutics.com $6,500,000 1 Expansion Health care Undisclosed investors Lewis H. Bender Founder & CEO 6 Minds Wilton, CT 06897 www.minds.com $6,000,000 1 Early Mobile & Telecommunications Medici Ventures Bill Ottman CEO 7 Trimino Brands 7 Sycamore Way Brandford, CT 06405 844-879-6466; drinktrimino.com $6,000,000 1 Early Food & Beverage Vineyard Point Associates Peter Dacey Founder & CEO 8 The UCAN Co. 15 Research Drive, Suite 3 Woodbridge, CT 06525 203-397-8226; www.generationucan.com $5,750,000 1 Later Food & Beverage Eighteen94 Capital, S2G Ventures Shoba Murali Co-founder, president & CEO 9 Alaia Capital 10 Corbin Drive Darien, CT 06820 203-608-4574; alaiacapital.com $5,500,000 1 Other Finance Centana Growth Partners, ThirdStream Partners Oscar Loynaz Co-founder 10 Magik Eye 1055 Washington Blvd., 5th Floor Stamford, CT 06901 magikeye.tech $5,050,000 1 Expansion Software Pound Capital Takeo Miyazawa CEO 11 CircleLink Health Stamford, CT N/A www.circlelinkhealth.com $5,040,000 1 Early Mobile & Telecommunications Undisclosed investors Raphael Anstey Co-founder & CEO 12 Upward Hartford 20 Church St. Hartford, CT 06103 860-785-6510; moveupward.city/hartford $3,900,000 1 Other Business products & services Connecticut Innovations Shana Schlossberg Founder & CEO 13 Shibumi 50 Washington St., Suite 302E Norwalk, CT 06854 shibumi.com $3,760,000 1 Expansion Internet Indicator Ventures Bob Nahmias Founder & CEO 14 Payrailz 148 Eastern Blvd., Suite 301 Glastonbury, CT 06033 860-430-5200; www.payrailz.com $3,750,000 1 Seed Internet Live Oak Ventures, TTV Capital Fran Duggan CEO 15 Veritonic 46 Buell Hill Road Killingworth, CT 06419 www.veritonic.com $3,500,000 1 Seed Internet Imagination Capital, KiwiVenture, MDC Ventures, Newark Venture Partners, SWaN & Legend Ventures Scott Simonelli Founder & CEO 16 Cadenza Innovation 3 Morse Road Oxford, CT 06478 203-463-8358; cadenzainnovation.com $3,340,000 1 Expansion Electronics Undisclosed investors Christina Lampe-Onnerud Founder & CEO 17 Fresh Nation LLC 68 Southfield Ave. Stamford, CT 06902 203-661-1246; www.freshnationathome.com $3,180,000 2 Other Internet Undisclosed investors, Connecticut Innovations Tony Lee Founder & CEO 18 Inbox Health 770 Chapel St. New Haven, CT 06510 203-349-2424; inboxhealth.com $2,400,000 1 Seed Health care Connecticut Innovations, Enhanced Capital, I2BF Global Ventures, LaunchCapital Blake Walker Co-founder & CEO 19 RightCapital Inc. Woodbridge, CT 06525 888-982-9596; www.rightcapital.com $2,320,000 1 Early Internet Undisclosed investors Shuang Chen Co-founder & CEO 20 Azitra Inc. 400 Farmington Ave. Farmington, CT 06032 860-679-4292; azitrainc.com $2,150,000 1 Early Health care Bios Partners, Connecticut Innovations, KdT Ventures Richard Andrews President & CEO 21 Summit Street Medical 340 Main St. Wallingford, CT 06492 $1,860,000 1 Other Health care Connecticut Innovations Matt Bomes Brian Grasso Founders 22 ReNetX Bio 157 Church St., 19th Floor New Haven, CT 06510 www.renetx.com $1,680,000 1 Early Health care Connecticut Innovations, Spring Mountain Capital Erika Smith CEO 23 Landsdowne Labs 845 Canal St., Suite 49 Stamford, CT 06902 landsdownelabs.com $1,640,000 1 Other Industrial Connecticut Innovations, PureTech Melissa Fensterstock Founder & CEO 24 Biorez 470 James St. Suite 14 New Haven, CT 06513 biorez.com $1,500,000 1 Early Health care Connecticut Innovations, LaunchCapital, New York Angels, The Vertical Group Kevin Rocco CEO 25 GlucoseZone New Haven, CT 06510 glucosezone.com $1,500,000 1 Early Mobile & Telecommunications Connecticut Innovations Charlie O'Connell Founder 26 Northpage Inc. 555 Heritage Road, Suite 100 Southbury, CT 06488 203-262-6266; www.northpage.com $1,500,000 1 Other Internet Kepha Partners Andrew Davis Mike Gorey Founders Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters. Note: NA = Not available. —Compiled by Stephanie R. Meagher. a charitable inclination and also leave money to the children or grandchildren. Additionally, there is money that can be gifted from a business the person owns. Let's say the parents own a $10 million business. A total of 10 percent of that business can be gifted to a child or children while the parents are still alive, and tax-wise the value of that gift can be considered much less than $1 million because it has been made illiquid and unmarketable. So those are just two examples. The biggest mistake in estate plan- ning, in particular with wealthier individuals, comes from a lack of planning. Managing an estate is dif- ferent from managing one's personal wealth and investments, in that tax laws often change (as they did recently in 2017 when the Tax Cuts and Jobs Act significantly increased the federal non-taxable threshold for estates) and family dynamics tend to change as well. So, for those who have estates of significant value, it is best to examine them every few years to make sure everything is up to date tax-wise and reflect that family's reality. Parents or grandparents who have estates in place need to consider a number of factors in how the plans will be managed once they are gone. Are the children/grandchildren equipped to properly manage large sums of money, or does a trust need to be established where access to the funds is restricted? Do the beneficiaries understand and ap- preciate money and its value? Are there concerns about the long-term stability of a child's marriage? Are there per- sonal situations such as physical health, mental health or dependency issues of surviving children that must be care- fully managed? These are all questions that need to be asked before it is too late. The truth is that there is no such thing as a "perfect" estate plan, and people should not fall into the trap of "letting perfect be the enemy of the good." What this means is responsible planning can cover any number of variables, but it's impossible to see every possibility or scenario coming. So rather than taking the option of doing nothing at all, strategic planning with careful attention paid to a number of different factors should result in a healthier, better-managed estate. And that is something for which your chil- dren or grandchildren will thank you, even after you are gone. Joel Johnson is the managing partner at Wethersfield-based retirement- planning firm Johnson Brunetti. >> Experts Corner continued

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