Hartford Business Journal

www.HartfordBusiness.com • April 6, 2020 • Hartford Business Journal 11 THE LISTS Notable Connecticut venture capital investments Ranked by 2019 total investment amount Notable Connecticut venture capital investments (Ranked by 2019 total investment amount) Rank Company 2019 total investment/ No. of deals Investment stage Sector / Industry Investors Top executive/ Title 1 SpringWorks Therapeutics (1) 100 Washington Blvd. Stamford, CT 06902 203-883-9490; www.springworkstx.com $287,000,000 2 Expansion (2) Health care / drug development Q2 deal: ArrowMark Partners, Bain Capital, Boxer Capital, BVF Partners, GlaxoSmithKline, HBM Healthcare Investments, Laurion Capital Management, LifeArc, OrbiMed Advisors, Perceptive Advisors, Samsara BioCapital, Surveyor Capital; Q3 deal: public. Saqib Islam CEO 2 Budderfly 2 Trap Falls Road, Suite 500 Shleton, CT 06484 855-400-822; www.budderfly.com $55,000,000 1 N/A Energy & utilities / energy efficiency Balance Point Capital Partners, Connecticut Innovations Albert Subbloie Founder & CEO 3 Trevi Therapeutics Inc. (3) 195 Church St., 14th Floor New Haven, CT 06510 203-304-2499; www.trevitherapeutics.com $55,000,000 1 N/A Health care / drug development Public Jennifer L. Good President & CEO 4 365 Data Centers 200 Connecticut Ave., Suite 5A Norwalk, CT 06854 415-901-5700; www.365datacenters.com $40,000,000 1 Late Computer hardware & services / IT services Turning Rock Partners Bob DeSantis CEO 5 Device42 Inc. 600 Saw Mill Road West Haven, CT 06516 203-409-7242; www.device42.com $34,000,000 1 Early Computer hardware & services / IT services Undisclosed Raj Jalan Founder & CEO 6 SponsorUnited 857 Newfield Ave. Stamford, CT 06905 203-253-4937; sponsorunited.com $15,750,000 2 Other Business products & services / advertising, marketing & PR Volta Global and undisclosed Bob Lynch Founder & president 7 P2 Science Inc. 4 Research Drive Woodbridge, CT 06525 203-821-7457; www.p2science.com $15,610,000 1 Early Energy & utilities / renewables Elm Street Ventures, Xeraya Capital Neil Burns CEO 8 Official Starter (4) N/A, CT N/A starter.com $14,210,000 1 Early Consumer products & services / clothing & accessories Sequoia Capital China Robert C. Galvin President & CEO, Iconix Brand Group 9 Azitra Inc. (5) 400 Farmington Ave. Farmington, CT 06032 860-679-4292; azitrainc.com $14,000,000 1 Early Healthcare / biotechnology Bios Partners, Connecticut Innovations, Godfrey Capital, KdT Ventures Richard Andrews President & CEO 10 Cybrexa Therapeutics 5 Science Park, 395 Winchester Ave. New Haven, CT 06511 860-717-2731; cybrexa.com $13,400,000 1 Expansion Healthcare / biotechnology Connecticut Innovations, Cycle Venture Partners, HighCape Partners Per Hellsund President & CEO 11 Sproutt 100 Pearl St., 14th Floor Hartford, CT 06103 888-786 3917; sproutt.com $12,000,000 1 Early Internet / internet software & services Guardian Life Insurance Company of America, Moneta VC, State of Mind Ventures Yoav Shaham Co-founder & CEO 12 Culture Fresh Foods 162 Spring St. Naugatuck, CT 06770 www.culturefreshfoods.com $11,000,000 1 Early Food & beverages / ingredients, flavoring & condiments CEI Ventures, FreshTracks Capital Thomas Moffitt Founder 13 Tremor Technologies 5 Greenwich Office Park Greenwich, CT 06831 203-769-7502; tremor.co $10,000,000 1 Early Financial / insurance Anthemis, Markel Ventures, Nephila Capital, W.R. Berkley Sean Bourgeois Founder & CEO 14 Tru Optik Data Corp. 750 East Main St., Suite 530 Stamford, CT 06902 203-816-8499; truoptik.com $10,000,000 1 Expansion Internet / internet software & services Arab Angel Fund, Connecticut Innovations, Mithera Capital, Progress Ventures, TransUnion Andre Swanston CEO 15 Foresite MSP 1 Hartfield Blvd., Suite 300 East Windsor, CT 06088 800-940-4699; foresite.com $9,980,000 1 Early Computer hardware & services / IT services Elsewhere Partners and undisclosed Marc Brungardt Co-founder & president 16 Rhone Apparel Inc. 484 Pacific St. Stamford, CT 06902 877-959-5002; www.rhone.com $9,900,000 1 Expansion Internet / ecommerce L Catterton Nate Checketts Co-founder & CEO 17 Diameter Health Inc. 10 Executive Drive Farmington, CT 06032 860-606-7490; www.diameterhealth.com $9,600,000 1 Early Software / healthcare software Activate Venture Partners, Connecticut Innovations, Excelerate Health Ventures, LRVHealth, Optum Ventures Eric Rosow CEO 18 Tangen Biosciences LLC 20 Commercial St. Branford, CT 06405 203-433-4045; tangenbio.com $9,000,000 1 Early Healthcare / biotechnology Axiom Venture Partners, Connecticut Innovations, Elm Street Ventures, Leading Edge Ventures, VC23 Investors Rick Birkmeyer President & CEO 19 Polarity 6 S. Ridge Road Farmington, CT 06032 polarity.io $8,100,000 1 Early Software / security software Gula Tech Adventures, Kaiser Permanente Ventures, Shasta Ventures, Strategic Cyber Ventures, TechOperators Paul Battista CEO 20 Payveris LLC 110 Court St ., #3b Cromwell, CT 06416 860-372-4111; www.payveris.com $7,000,000 1 Late Internet / internet software & services Black Dragon Capital, Connecticut Innovations, Ironwood Capital, Mosaik Partners and undisclosed Ron Bergamesca CEO 21 IsoPlexis Inc. 35 N.E. Industrial Road Branford, CT 06405 203-208-4111; www.isoplexis.com $6,000,000 2 N/A Healthcare / biotechnology National Cancer Institute Sean Mackay Co-founder & CEO 22 Payrailz 95 Glastonbury Blvd., Suite 105 Glastonbury, CT 06033 860-430-5200; www.payrailz.com $6,000,000 1 Early Internet / internet software & services Undisclosed Fran Duggan CEO 23 NeuroClear Technologies (6) 54 Wilton Road, 2nd Floor Westport, CT 06880 203-409-5444; www.biosig.com $4,550,000 3 Other Healthcare / medical devices & equipment BioStar Capital Kenneth L. Londoner Chairman & CEO, BioSig Technologies Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters. Notes: N/A = Not available. Investment stage "other" includes rounds not associated with a specific stage in a company's funding history such as corporate minority rounds where corporates take a minority stake in a startup, as well as a small number of unclassified rounds tracked that are not associated with a specific stage. (1) Hosted IPO in September 2019; now trading under NASDAQ: SWTX. (2) During Q2 (3) Hosted IPO in May 2019; now trading under NASDAQ: TRVI. (4) A subsidiary of Iconix Brand Group. (5) Plans to relocate to 12,000 square feet of leased lab and office space at 21 Business Park Drive, Branford in April. Move was not yet complete at press time. (6) A subsidiary of BioSig Technologies. Address shown is BioSig Technologies headquarters. —Compiled by Heide Martin. Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters. Notes: N/A = Not available. Investment stage "other" includes rounds not associated with a specific stage in a company's funding history such as corporate minority rounds where corporates take a minority stake in a startup, as well as a small number of unclassified rounds tracked that are not associated with a specific stage. (1) Hosted IPO in September 2019; now trading under NASDAQ: SWTX. (2) During Q2 (3) Hosted IPO in May 2019; now trading under NASDAQ: TRVI. (4) A subsidiary of Iconix Brand Group. (5) Plans to relocate to 12,000 square feet of leased lab and office space at 21 Business Park Drive, Branford in April. Move was not yet complete at press time. —Compiled by Heide Martin.

• Cover