At Greenspring we believe in venture capital's ability to propel innovation, job creation and positive societal change. We celebrate those who think differently, take measured risk and challenge perceptions. Here's what's trending in VC this week:
New Investments:
We are pleased to share our recent fund commitment to Frazier Healthcare Partners.
Frazier Healthcare Partners, founded in 1991 and based in Seattle, Washington and Menlo Park, California, is a leading healthcare-focused investment firm that provides capital across all stages of portfolio growth. The Firm offers two distinct strategies in the form of Life Sciences and Growth Buyout, each supported by separate, dedicated investment teams. With a focus on Seed and Series A investments at relatively low valuations, Frazier's Life Sciences strategy targets significant ownership positions in pre-clinical companies developing and commercializing novel therapeutics, thereby enhancing its potential return profile. The Life Sciences strategy is led by Managing General Partners Patrick Heron and Jamie Topper, who have expertise across all areas of drug development and commercialization, including clinical design and execution, FDA and regulatory strategy, and marketing and sales strategies. In addition, portfolio companies benefit from Frazier's team of Venture and Operating Partners and Senior Advisors, who assist with company sourcing, operational leadership and value-added services as portfolio company board members.
Portfolio News:
- We were thrilled to share our participation in the $97 million Series B financing for real estate developer Veev, co-led Greenspring primary manager Zeev Ventures and Lennar Ventures! You can read more on the financing here.
- Process Street, which leverages an easy-to-use interface that can handle almost any type of business process, allowing small-and-medium-sized businesses and enterprises to build workflows without having to write code, raised $12 million in Series A financing led by Greenspring primary manager Accel.
- Nicole Quinn, Partner at Greenspring primary manager Lightspeed Venture Partners, shared how Nike founder Phil Knight's memoir, Shoe Dog, taught her about influencer marketing, thinking globally, partnerships and more. You can read her piece here.
- Vishal Vasishth, Co-Founder and Managing Director of Greenspring primary manager Obvious Ventures, wrote this post presenting a practical guide for entrepreneurs on purpose, values and philosophies as they grow, inspired by his time with Patagonia.
- "Salsify is uniquely positioned to help its customers win this battle being waged for customer loyalty across channels old and new." You can read more on how Greenspring direct investment Salsify continues to expand and commit to helping brands win on the digital shelf here.
- Greenspring direct investment Recycle Track Systems had teamed up with aNYbag to collect and deliver clients' old plastic bags to be up-cycled into fashion-forward tote bags during ReFashion Week, which celebrated secondhand and sustainable fashion in New York City. Check out this video to learn more.
Greenspring News:
Amidst a global competition for talent and capital, Maryland is jeopardizing the future of its own economy through HB439, costing jobs and reducing state tax revenues. As defenders of the innovation economy and proud Marylanders, we urge our fellow citizens to stand beside us and fight this damaging legislation. This week the NVCA released a letter explaining the many potential repercussions of the bill, which you can read here. To learn more you can also read our full blog post where we further unpack where we stand on the complicated issue.
Additionally, the NVCA sent a letter to Senators Bernie Sanders and Chris Van Hollen expressing their strong opposition to another bill that would tax employee stock options at vesting, which would severely impact the building of high-growth startups in the U.S. You can read the full letter and learn more here.
The content here is for informational purposes only and should NOT be taken as legal, business, tax, or investment advice. It does NOT constitute an offer or solicitation to purchase any investment or a recommendation to buy or sell a security. In fact, the content is not directed to any investor or potential investor and may not be used to evaluate or make any investment.
