Sun Mountain Capital

Sun Mountain Capital, established in 2006, is a private equity firm headquartered in Santa Fe, New Mexico. It specializes in providing equity and debt investments to promising companies across the United States. The firm's team, with experience dating back to 1981, has a proven track record in private equity, having previously worked at top-tier firms such as Credit Suisse, Morgan Stanley, and GE Capital. Sun Mountain Capital offers customized private equity solutions to pension plans and other institutional investors, tailoring strategies to meet their specific investment goals.

Kevin Barber

Partner, Private Credit and Investment Committee Member

Sally Corning

Co-Founder, Partner and Investment Committee Member

Catriona Forrester

Managing Director and Member of the Mexico Ventures III Investment Committee

Hal Hayden

Partner, Private Credit and Investment Committee Member

50 past transactions

Uvera

Seed Round in 2023
Uvera Inc. is a technology company based in San Mateo, California, founded in 2019. The company specializes in developing innovative ultraviolet (UV) light-based solutions that extend the shelf life of fresh food. Uvera's portable devices effectively disinfect fresh produce, meat, and baked goods by targeting and destroying the DNA of foodborne pathogens responsible for spoilage. This chemical-free treatment can double the shelf life of fresh food, achieving an average prolongation of up to 60% within just 30 seconds of application. Uvera's technology is designed to serve both consumers and the food and beverage industry, offering a practical solution to reduce food waste and enhance food safety.

Green Theme Technologies

Series B in 2022
Green Theme Technologies Inc is a developer of environmentally-friendly chemical technology focused on the finishing of textiles and nonwovens. Founded in 2012 and based in Rio Rancho, New Mexico, the company aims to innovate in the textile industry by creating products that surpass the performance of existing technologies while also eliminating water usage and reducing pollution. Green Theme Technologies is committed to sustainable practices and seeks to transform textile finishing processes through its advanced, dry technology solutions.

Vega Cloud

Venture Round in 2022
Vega Cloud is a software-as-a-service (SaaS) company specializing in public cloud infrastructure management. It has developed an enterprise management platform that streamlines the management of cloud resources, making it easier for businesses to deploy and optimize their cloud infrastructure. By simplifying scale deployments and providing optimization recommendations, Vega Cloud helps organizations save both time and money in managing their cloud environments.

3D Glass Solutions

Series B in 2022
3D Glass Solutions, Inc. is a manufacturer of glass-based system-in-package (SiP) electronic packaging devices and components, specializing in the integration of electronic systems. Founded in 2006 and headquartered in Albuquerque, New Mexico, the company provides design consultation and prototyping services, catering primarily to integrated circuit manufacturers, photonic component suppliers, and defense contractors. Utilizing their patented APEX® Glass technology, 3D Glass Solutions offers a range of photo-definable components, including bandpass filters, gain antennas, discrete LC components, and impedance matching networks. Their innovative approach enables clients to integrate multiple components onto a single platform, resulting in reduced manufacturing costs and enhanced performance in industry-specific applications.

Armonica Technologies

Series B in 2021
Armonica Technologies is an early-stage medtech company that specializes in developing innovative long-read DNA sequencing technology aimed at precision medicine applications. Named after Benjamin Franklin’s Glass Armonica, the company focuses on a proprietary platform capable of sequencing a complete human genome in minutes. This advanced technology utilizes nanochannels to transport single nucleic acid molecules through nanopores, which are then analyzed through optical readout via Raman spectroscopy. By addressing the limitations of existing sequencing methods, Armonica Technologies enables life science researchers and clinicians to gain a comprehensive view of the genome, providing critical insights into epigenetic modifications. The company's approach is supported by a portfolio of patented and patent-pending technologies licensed from STC.UNM.

BayoTech

Series C in 2021
BayoTech, Inc. is a company specializing in the development and manufacture of hydrogen generation systems, including steam methane reformers. Founded in 2015 and based in Albuquerque, New Mexico, BayoTech focuses on advancing hydrogen innovation and sustainability by providing low-carbon hydrogen solutions aimed at reducing transportation emissions and optimizing the supply chain through local production. The company operates a network of hydrogen production hubs, known as BayoGaaS® Hydrogen Hubs, with sites in Wentzville, Missouri, and an upcoming facility in Stockton, California. Additionally, BayoTech manufactures high-capacity, high-pressure transport trailers in Tulsa, Oklahoma, to ensure safe and reliable distribution of hydrogen. The company's comprehensive portfolio includes solutions for hydrogen production, transport, storage, and fueling, making low-carbon hydrogen accessible and cost-effective for various sectors, including agriculture, fuel cells, and energy.

First Crop

Series A in 2021
First Crop is a company that specializes in farming technology aimed at promoting environmentally sustainable practices among farmers. It focuses on developing solutions that are rooted in regenerative principles, emphasizing financial inclusion and resource sharing. The company provides USDA certified-organic hemp, which is utilized to create pure, high-quality hemp-derived health and wellness products. By leveraging its technology, First Crop seeks to enhance access to CBD products, enabling consumers to benefit from these natural alternatives in a straightforward manner.

UbiQD

Series A in 2020
UbiQD, LLC is a cleantech materials company based in Los Alamos, New Mexico, that specializes in the production of low-hazard quantum dots and nanocomposites. Founded in 2014, UbiQD aims to make its innovative materials widely accessible for various applications, including agriculture, safety, design, solar energy, lighting, security, and personal care. The company offers UbiGro, a retrofit luminescent film designed to enhance crop growth by optimizing sunlight in greenhouses. UbiQD's low-toxicity quantum dots are engineered to efficiently convert light from one color to another, making them suitable for a range of industries while adhering to safety standards. The firm's strategic location near Los Alamos and Sandia National Laboratory facilitates valuable collaborations with leading scientists, furthering its mission to advance nanomaterial production and application.

BennuBio

Series B in 2020
BennuBio, Inc. is a technology company based in Albuquerque, New Mexico, that specializes in developing advanced flow cytometry equipment for cell analysis. Founded in 2018, BennuBio focuses on creating instruments capable of sorting and analyzing cells for rare cell applications, which include monitoring blood cells, detecting biomarkers, and facilitating drug discovery. Its flagship product, The Velocyt, enables users to detect rare events such as activated T cells and circulating tumor cells, making it valuable for personalized medicine. The company also offers spheroid generation systems and high-volume sorting systems, along with technical support and applications assistance. By allowing analysis across a wide range of particle sizes and sample volumes, BennuBio aims to enhance the capabilities of healthcare professionals in immuno-oncology treatment and diagnostics.

mPower Technology

Series A in 2019
mPower Technology, Inc. is a manufacturer of interconnected meshes of miniature solar cells, founded in 2014 and based in Albuquerque, New Mexico. The company specializes in developing semiconductor active miniature solar cells that cater to the space, terrestrial, and Internet of Things (IoT) industries. By utilizing advanced materials, processes, and tools from the silicon photovoltaic and microelectronics sectors, mPower Technology creates flexible solar solutions that overcome the limitations of traditional silicon and gallium arsenide solar cells. This innovative approach enables clients to optimize the performance and longevity of solar cells, particularly in challenging environments such as space, where they can recover from on-orbit radiation exposure. With a team of seasoned technology innovators and industry veterans, mPower Technology aims to advance the future of solar power globally.

Exagen

Venture Round in 2019
Exagen Inc. is a commercial-stage diagnostics company focused on developing and commercializing innovative testing products for autoimmune and autoimmune-related diseases. Headquartered in Vista, California, Exagen utilizes its proprietary Cell-Bound Complement Activation Products technology to enhance diagnostic care for conditions like systemic lupus erythematosus and rheumatoid arthritis. The company offers a diverse portfolio of testing products under its AVISE brand, including AVISE CTD for differential diagnosis of connective tissue diseases, AVISE Lupus for monitoring complement system activation, and multiple panels for assessing various autoimmune markers. These products facilitate timely diagnosis and effective therapeutic interventions, enabling rheumatologists to improve patient care. Since its founding in 2002, Exagen has remained committed to addressing the needs of patients suffering from chronic autoimmune diseases.

3D Glass Solutions

Series B in 2019
3D Glass Solutions, Inc. is a manufacturer of glass-based system-in-package (SiP) electronic packaging devices and components, specializing in the integration of electronic systems. Founded in 2006 and headquartered in Albuquerque, New Mexico, the company provides design consultation and prototyping services, catering primarily to integrated circuit manufacturers, photonic component suppliers, and defense contractors. Utilizing their patented APEX® Glass technology, 3D Glass Solutions offers a range of photo-definable components, including bandpass filters, gain antennas, discrete LC components, and impedance matching networks. Their innovative approach enables clients to integrate multiple components onto a single platform, resulting in reduced manufacturing costs and enhanced performance in industry-specific applications.

Robotic Skies

Series A in 2019
Robotic Skies, Inc. is a company that provides certification, maintenance, and repair services for commercial unmanned aircraft systems (UAS) and advanced air mobility (AAM) vehicles. Founded in 2013 and based in Albuquerque, New Mexico, Robotic Skies operates a global network of over 150 independently-owned repair stations with expertise in aviation maintenance. The company's services cater to a diverse range of clients, ensuring that UAS can operate safely, efficiently, and affordably. By collaborating with FAA-approved maintenance organizations that also service manned aircraft, Robotic Skies offers a comprehensive field service program designed to keep these aircraft productive and compliant with regulatory standards.

BennuBio

Series A in 2018
BennuBio, Inc. is a technology company based in Albuquerque, New Mexico, that specializes in developing advanced flow cytometry equipment for cell analysis. Founded in 2018, BennuBio focuses on creating instruments capable of sorting and analyzing cells for rare cell applications, which include monitoring blood cells, detecting biomarkers, and facilitating drug discovery. Its flagship product, The Velocyt, enables users to detect rare events such as activated T cells and circulating tumor cells, making it valuable for personalized medicine. The company also offers spheroid generation systems and high-volume sorting systems, along with technical support and applications assistance. By allowing analysis across a wide range of particle sizes and sample volumes, BennuBio aims to enhance the capabilities of healthcare professionals in immuno-oncology treatment and diagnostics.

RiskSense

Series B in 2018
RiskSense, Inc. specializes in cyber risk management solutions, offering a cloud-based platform that enables organizations to assess and manage their cybersecurity risk effectively. The RiskSense Platform provides vulnerability prioritization and management, utilizing risk-based scoring and analytics to identify critical security weaknesses. It features services such as vulnerability assessments and attack surface validation, which help organizations discover misconfigurations and vulnerabilities, as well as assess potential infiltration paths used by cyber adversaries. By continuously correlating customer infrastructure with extensive vulnerability data and threat intelligence, RiskSense delivers actionable insights that prioritize remediation efforts and enhance overall security posture. Founded in 2006 and headquartered in Sunnyvale, California, with additional offices in Albuquerque, New Mexico, and India, RiskSense was previously known as CAaNES, LLC before rebranding in May 2015.

Agilvax

Series A in 2018
Agilvax, Inc. is a biotechnology company based in Albuquerque, New Mexico, focused on developing targeted vaccine therapies for infectious diseases and chronic conditions using its proprietary virus-like particle platform technology. Founded in 2011, Agilvax is advancing its lead candidate, AXO3, aimed at preventing HPV, along with other vaccine candidates for conditions such as cancer, asthma, dengue, malaria, autoimmune diseases, and various metabolic and rare diseases. The company employs a rigorous process for selecting and optimizing vaccine candidates through in vitro and in vivo testing, progressing them through pre-clinical and clinical stages until proof of concept is achieved. This strategic approach not only enhances the potential for successful therapies but also creates attractive out-licensing opportunities for collaborations with pharmaceutical and biotechnology partners, as well as academic institutions and government entities, including the National Institute of Allergy and Infectious Diseases.

BayoTech

Series B in 2018
BayoTech, Inc. is a company specializing in the development and manufacture of hydrogen generation systems, including steam methane reformers. Founded in 2015 and based in Albuquerque, New Mexico, BayoTech focuses on advancing hydrogen innovation and sustainability by providing low-carbon hydrogen solutions aimed at reducing transportation emissions and optimizing the supply chain through local production. The company operates a network of hydrogen production hubs, known as BayoGaaS® Hydrogen Hubs, with sites in Wentzville, Missouri, and an upcoming facility in Stockton, California. Additionally, BayoTech manufactures high-capacity, high-pressure transport trailers in Tulsa, Oklahoma, to ensure safe and reliable distribution of hydrogen. The company's comprehensive portfolio includes solutions for hydrogen production, transport, storage, and fueling, making low-carbon hydrogen accessible and cost-effective for various sectors, including agriculture, fuel cells, and energy.

Armonica Technologies

Seed Round in 2017
Armonica Technologies is an early-stage medtech company that specializes in developing innovative long-read DNA sequencing technology aimed at precision medicine applications. Named after Benjamin Franklin’s Glass Armonica, the company focuses on a proprietary platform capable of sequencing a complete human genome in minutes. This advanced technology utilizes nanochannels to transport single nucleic acid molecules through nanopores, which are then analyzed through optical readout via Raman spectroscopy. By addressing the limitations of existing sequencing methods, Armonica Technologies enables life science researchers and clinicians to gain a comprehensive view of the genome, providing critical insights into epigenetic modifications. The company's approach is supported by a portfolio of patented and patent-pending technologies licensed from STC.UNM.

Robotic Skies

Seed Round in 2017
Robotic Skies, Inc. is a company that provides certification, maintenance, and repair services for commercial unmanned aircraft systems (UAS) and advanced air mobility (AAM) vehicles. Founded in 2013 and based in Albuquerque, New Mexico, Robotic Skies operates a global network of over 150 independently-owned repair stations with expertise in aviation maintenance. The company's services cater to a diverse range of clients, ensuring that UAS can operate safely, efficiently, and affordably. By collaborating with FAA-approved maintenance organizations that also service manned aircraft, Robotic Skies offers a comprehensive field service program designed to keep these aircraft productive and compliant with regulatory standards.

TriLumina

Venture Round in 2017
TriLumina Corporation, founded in 2010 and based in Albuquerque, New Mexico, specializes in manufacturing semiconductor lasers, particularly advanced vertical-cavity surface-emitting lasers (VCSEL). The company provides cutting-edge illumination solutions for 3D sensing and LiDAR applications across various industries, including automotive, industrial, and mobile sectors. TriLumina's patented VCSEL technology supports the development of innovative applications such as augmented reality, virtual reality, 3D cameras, and autonomous vehicles. Its products are designed for use in sophisticated systems like Time-of-Flight and Long Range LiDAR, achieving notable qualifications such as automotive Grade 1 temperature range certification. This positions TriLumina as a preferred platform in the realm of 3D sensing technologies, enabling clients to enhance operational efficiency and drive technological advancements.

RiskSense

Series A in 2017
RiskSense, Inc. specializes in cyber risk management solutions, offering a cloud-based platform that enables organizations to assess and manage their cybersecurity risk effectively. The RiskSense Platform provides vulnerability prioritization and management, utilizing risk-based scoring and analytics to identify critical security weaknesses. It features services such as vulnerability assessments and attack surface validation, which help organizations discover misconfigurations and vulnerabilities, as well as assess potential infiltration paths used by cyber adversaries. By continuously correlating customer infrastructure with extensive vulnerability data and threat intelligence, RiskSense delivers actionable insights that prioritize remediation efforts and enhance overall security posture. Founded in 2006 and headquartered in Sunnyvale, California, with additional offices in Albuquerque, New Mexico, and India, RiskSense was previously known as CAaNES, LLC before rebranding in May 2015.

SBA Materials

Series D in 2015
SBA Materials, Inc. is a company focused on the development and commercialization of advanced electronic materials specifically for back-end line and packaging applications in semiconductor manufacturing. Founded in 2001 and based in Albuquerque, New Mexico, the company specializes in low-k dielectric materials for interlayer dielectric applications, addressing critical needs in the semiconductor industry. Its product portfolio includes uLK22, uLK1X, optical films, and various nano-porous and meso-porous materials. These materials are designed with exceptional surface areas and can be chemically functionalized, enabling a broad range of applications from electronics to optics and sensors. The company operates from a facility within the Science and Technology Park, which houses research and development laboratories, offices, and meeting spaces, fostering innovation and collaboration with local institutions, including the University of New Mexico and Sandia National Laboratories.

Seamless Medical Systems

Venture Round in 2015
Seamless Medical Systems, LLC is a provider of cloud-based software and services aimed at enhancing front office operations for healthcare practices in the United States. Founded in 2010 and based in Santa Fe, New Mexico, the company offers various products designed to streamline patient engagement and communication. Its flagship platform, SNAP Practice, facilitates patient data capture, registration, and health education, while also enabling digital signature capture and integration with existing practice systems. Other offerings include SNAP EXPRESS, which features digital patient registration and personalized health education, and SNAP ENTERPRISE, which interfaces with electronic medical records and practice management systems. Additionally, the company provides SNAPedu, an education platform for patient information delivery at the point of care, and SNAPdash, a dashboard for monitoring practice registration workflows. Seamless Medical Systems aims to improve patient experiences and health literacy, ultimately contributing to better patient outcomes and reduced healthcare costs.

TriLumina

Series B in 2015
TriLumina Corporation, founded in 2010 and based in Albuquerque, New Mexico, specializes in manufacturing semiconductor lasers, particularly advanced vertical-cavity surface-emitting lasers (VCSEL). The company provides cutting-edge illumination solutions for 3D sensing and LiDAR applications across various industries, including automotive, industrial, and mobile sectors. TriLumina's patented VCSEL technology supports the development of innovative applications such as augmented reality, virtual reality, 3D cameras, and autonomous vehicles. Its products are designed for use in sophisticated systems like Time-of-Flight and Long Range LiDAR, achieving notable qualifications such as automotive Grade 1 temperature range certification. This positions TriLumina as a preferred platform in the realm of 3D sensing technologies, enabling clients to enhance operational efficiency and drive technological advancements.

Respira Therapeutics

Convertible Note in 2015
Respira Therapeutics, Inc. is a drug development company based in Albuquerque, New Mexico, that specializes in the pulmonary delivery of therapeutics for respiratory diseases. Founded in 2010, the company is focused on addressing unmet medical needs through its innovative technology for passive dry powder inhalers (DPIs). Respira's proprietary drug delivery engine features a novel mechanism of action that enhances lung delivery and therapy. The company has achieved clinical proof-of-principle, demonstrating that its DPIs offer best-in-class drug dispersion performance. This positions Respira to potentially replace existing inhalation devices and expand inhaled therapies across various drug classes and disease indications, targeting high-value therapeutic areas. Respira Therapeutics has also entered into a strategic collaboration with United Therapeutics Corporation to further its development efforts.

Aspen Avionics

Venture Round in 2014
Aspen Avionics, headquartered in Albuquerque, New Mexico, was established in 2004 by a group of aviation enthusiasts. The company focuses on developing advanced avionics products aimed at enhancing situational awareness and reducing pilot workload in general aviation. Aspen Avionics offers affordable solutions that allow aircraft owners to upgrade traditional primary flight instruments to modern glass cockpit technology without incurring significant costs or complicated installation processes. Its products are designed to improve safety and ease of flying in both visual and instrument flight rules conditions.

Respira Therapeutics

Convertible Note in 2014
Respira Therapeutics, Inc. is a drug development company based in Albuquerque, New Mexico, that specializes in the pulmonary delivery of therapeutics for respiratory diseases. Founded in 2010, the company is focused on addressing unmet medical needs through its innovative technology for passive dry powder inhalers (DPIs). Respira's proprietary drug delivery engine features a novel mechanism of action that enhances lung delivery and therapy. The company has achieved clinical proof-of-principle, demonstrating that its DPIs offer best-in-class drug dispersion performance. This positions Respira to potentially replace existing inhalation devices and expand inhaled therapies across various drug classes and disease indications, targeting high-value therapeutic areas. Respira Therapeutics has also entered into a strategic collaboration with United Therapeutics Corporation to further its development efforts.

SBA Materials

Series C in 2014
SBA Materials, Inc. is a company focused on the development and commercialization of advanced electronic materials specifically for back-end line and packaging applications in semiconductor manufacturing. Founded in 2001 and based in Albuquerque, New Mexico, the company specializes in low-k dielectric materials for interlayer dielectric applications, addressing critical needs in the semiconductor industry. Its product portfolio includes uLK22, uLK1X, optical films, and various nano-porous and meso-porous materials. These materials are designed with exceptional surface areas and can be chemically functionalized, enabling a broad range of applications from electronics to optics and sensors. The company operates from a facility within the Science and Technology Park, which houses research and development laboratories, offices, and meeting spaces, fostering innovation and collaboration with local institutions, including the University of New Mexico and Sandia National Laboratories.

Exagen

Debt Financing in 2014
Exagen Inc. is a commercial-stage diagnostics company focused on developing and commercializing innovative testing products for autoimmune and autoimmune-related diseases. Headquartered in Vista, California, Exagen utilizes its proprietary Cell-Bound Complement Activation Products technology to enhance diagnostic care for conditions like systemic lupus erythematosus and rheumatoid arthritis. The company offers a diverse portfolio of testing products under its AVISE brand, including AVISE CTD for differential diagnosis of connective tissue diseases, AVISE Lupus for monitoring complement system activation, and multiple panels for assessing various autoimmune markers. These products facilitate timely diagnosis and effective therapeutic interventions, enabling rheumatologists to improve patient care. Since its founding in 2002, Exagen has remained committed to addressing the needs of patients suffering from chronic autoimmune diseases.

xF Technologies

Debt Financing in 2014
xF Technologies Inc. is a specialty chemicals manufacturer based in Albuquerque, New Mexico, founded in 2007. The company focuses on converting renewable biomass materials, such as cornstarch, sugarcane, and cellulosic biomass, into non-toxic renewable chemicals and biofuels. Its product offerings include various chemical compounds, such as methyl, ethyl, and isopropyl derivatives, along with plasticizers for the PVC market, cleaning solvents, and agricultural chemicals. xF Technologies employs a patented molecular platform to produce furaotes, which are designed to replace traditional petrochemical ingredients while providing similar or superior performance. This innovation allows for significant cost savings in formulations and enhances the environmental health and safety profile of the final products. The company aims to contribute to sustainability by recycling renewable waste biomass into valuable chemical products.

TriLumina

Series A in 2014
TriLumina Corporation, founded in 2010 and based in Albuquerque, New Mexico, specializes in manufacturing semiconductor lasers, particularly advanced vertical-cavity surface-emitting lasers (VCSEL). The company provides cutting-edge illumination solutions for 3D sensing and LiDAR applications across various industries, including automotive, industrial, and mobile sectors. TriLumina's patented VCSEL technology supports the development of innovative applications such as augmented reality, virtual reality, 3D cameras, and autonomous vehicles. Its products are designed for use in sophisticated systems like Time-of-Flight and Long Range LiDAR, achieving notable qualifications such as automotive Grade 1 temperature range certification. This positions TriLumina as a preferred platform in the realm of 3D sensing technologies, enabling clients to enhance operational efficiency and drive technological advancements.

xF Technologies

Series A in 2014
xF Technologies Inc. is a specialty chemicals manufacturer based in Albuquerque, New Mexico, founded in 2007. The company focuses on converting renewable biomass materials, such as cornstarch, sugarcane, and cellulosic biomass, into non-toxic renewable chemicals and biofuels. Its product offerings include various chemical compounds, such as methyl, ethyl, and isopropyl derivatives, along with plasticizers for the PVC market, cleaning solvents, and agricultural chemicals. xF Technologies employs a patented molecular platform to produce furaotes, which are designed to replace traditional petrochemical ingredients while providing similar or superior performance. This innovation allows for significant cost savings in formulations and enhances the environmental health and safety profile of the final products. The company aims to contribute to sustainability by recycling renewable waste biomass into valuable chemical products.

Exagen

Debt Financing in 2013
Exagen Inc. is a commercial-stage diagnostics company focused on developing and commercializing innovative testing products for autoimmune and autoimmune-related diseases. Headquartered in Vista, California, Exagen utilizes its proprietary Cell-Bound Complement Activation Products technology to enhance diagnostic care for conditions like systemic lupus erythematosus and rheumatoid arthritis. The company offers a diverse portfolio of testing products under its AVISE brand, including AVISE CTD for differential diagnosis of connective tissue diseases, AVISE Lupus for monitoring complement system activation, and multiple panels for assessing various autoimmune markers. These products facilitate timely diagnosis and effective therapeutic interventions, enabling rheumatologists to improve patient care. Since its founding in 2002, Exagen has remained committed to addressing the needs of patients suffering from chronic autoimmune diseases.

Respira Therapeutics

Series A in 2013
Respira Therapeutics, Inc. is a drug development company based in Albuquerque, New Mexico, that specializes in the pulmonary delivery of therapeutics for respiratory diseases. Founded in 2010, the company is focused on addressing unmet medical needs through its innovative technology for passive dry powder inhalers (DPIs). Respira's proprietary drug delivery engine features a novel mechanism of action that enhances lung delivery and therapy. The company has achieved clinical proof-of-principle, demonstrating that its DPIs offer best-in-class drug dispersion performance. This positions Respira to potentially replace existing inhalation devices and expand inhaled therapies across various drug classes and disease indications, targeting high-value therapeutic areas. Respira Therapeutics has also entered into a strategic collaboration with United Therapeutics Corporation to further its development efforts.

xF Technologies

Series A in 2013
xF Technologies Inc. is a specialty chemicals manufacturer based in Albuquerque, New Mexico, founded in 2007. The company focuses on converting renewable biomass materials, such as cornstarch, sugarcane, and cellulosic biomass, into non-toxic renewable chemicals and biofuels. Its product offerings include various chemical compounds, such as methyl, ethyl, and isopropyl derivatives, along with plasticizers for the PVC market, cleaning solvents, and agricultural chemicals. xF Technologies employs a patented molecular platform to produce furaotes, which are designed to replace traditional petrochemical ingredients while providing similar or superior performance. This innovation allows for significant cost savings in formulations and enhances the environmental health and safety profile of the final products. The company aims to contribute to sustainability by recycling renewable waste biomass into valuable chemical products.

TriLumina

Series A in 2013
TriLumina Corporation, founded in 2010 and based in Albuquerque, New Mexico, specializes in manufacturing semiconductor lasers, particularly advanced vertical-cavity surface-emitting lasers (VCSEL). The company provides cutting-edge illumination solutions for 3D sensing and LiDAR applications across various industries, including automotive, industrial, and mobile sectors. TriLumina's patented VCSEL technology supports the development of innovative applications such as augmented reality, virtual reality, 3D cameras, and autonomous vehicles. Its products are designed for use in sophisticated systems like Time-of-Flight and Long Range LiDAR, achieving notable qualifications such as automotive Grade 1 temperature range certification. This positions TriLumina as a preferred platform in the realm of 3D sensing technologies, enabling clients to enhance operational efficiency and drive technological advancements.

Aspen Avionics

Series C in 2012
Aspen Avionics, headquartered in Albuquerque, New Mexico, was established in 2004 by a group of aviation enthusiasts. The company focuses on developing advanced avionics products aimed at enhancing situational awareness and reducing pilot workload in general aviation. Aspen Avionics offers affordable solutions that allow aircraft owners to upgrade traditional primary flight instruments to modern glass cockpit technology without incurring significant costs or complicated installation processes. Its products are designed to improve safety and ease of flying in both visual and instrument flight rules conditions.

Exagen

Series C in 2012
Exagen Inc. is a commercial-stage diagnostics company focused on developing and commercializing innovative testing products for autoimmune and autoimmune-related diseases. Headquartered in Vista, California, Exagen utilizes its proprietary Cell-Bound Complement Activation Products technology to enhance diagnostic care for conditions like systemic lupus erythematosus and rheumatoid arthritis. The company offers a diverse portfolio of testing products under its AVISE brand, including AVISE CTD for differential diagnosis of connective tissue diseases, AVISE Lupus for monitoring complement system activation, and multiple panels for assessing various autoimmune markers. These products facilitate timely diagnosis and effective therapeutic interventions, enabling rheumatologists to improve patient care. Since its founding in 2002, Exagen has remained committed to addressing the needs of patients suffering from chronic autoimmune diseases.

Comet Solutions

Series C in 2012
Comet Solutions, Inc., established in 2001, specializes in developing software applications that streamline engineering simulations. Headquartered in Cincinnati, Ohio, with additional offices globally, the company offers SimApps designed to automate modeling and simulation tasks, enabling users to evaluate design changes, collaborate across teams, and deploy practices to non-experts. Their products include Gearbox SimApps for performance optimization and a SimApp Authoring Workspace platform for CAE/simulation process automation. Comet Solutions serves industries such as space systems, consumer products, electronics, and automotive, providing services like training and consulting in addition to their software offerings. As of September 2018, the company operates as a subsidiary of Aras Corporation.

Exagen

Venture Round in 2012
Exagen Inc. is a commercial-stage diagnostics company focused on developing and commercializing innovative testing products for autoimmune and autoimmune-related diseases. Headquartered in Vista, California, Exagen utilizes its proprietary Cell-Bound Complement Activation Products technology to enhance diagnostic care for conditions like systemic lupus erythematosus and rheumatoid arthritis. The company offers a diverse portfolio of testing products under its AVISE brand, including AVISE CTD for differential diagnosis of connective tissue diseases, AVISE Lupus for monitoring complement system activation, and multiple panels for assessing various autoimmune markers. These products facilitate timely diagnosis and effective therapeutic interventions, enabling rheumatologists to improve patient care. Since its founding in 2002, Exagen has remained committed to addressing the needs of patients suffering from chronic autoimmune diseases.

Exagen

Venture Round in 2011
Exagen Inc. is a commercial-stage diagnostics company focused on developing and commercializing innovative testing products for autoimmune and autoimmune-related diseases. Headquartered in Vista, California, Exagen utilizes its proprietary Cell-Bound Complement Activation Products technology to enhance diagnostic care for conditions like systemic lupus erythematosus and rheumatoid arthritis. The company offers a diverse portfolio of testing products under its AVISE brand, including AVISE CTD for differential diagnosis of connective tissue diseases, AVISE Lupus for monitoring complement system activation, and multiple panels for assessing various autoimmune markers. These products facilitate timely diagnosis and effective therapeutic interventions, enabling rheumatologists to improve patient care. Since its founding in 2002, Exagen has remained committed to addressing the needs of patients suffering from chronic autoimmune diseases.

Skorpios Technologies

Series B in 2011
Skorpios Technologies, Inc. is a fabless semiconductor company based in Albuquerque, New Mexico, specializing in silicon photonic integrated circuit products. Founded in 2009, the company develops and markets a range of opto-electronic integrated circuits, including 100G-CWDM system-on-chip receivers and transmitters. Skorpios Technologies also offers innovative solutions such as Template Assisted Bonding, which supports high-speed video, data, and voice communications across networking, cloud computing, storage, and cable TV applications. Additionally, the company provides gain materials, wafer-scale processes, uncooled tunable laser technology, and coherent transceiver devices. By designing and manufacturing integrated optical modules and subsystems, Skorpios enables high-bandwidth interconnectivity at competitive manufacturing costs, serving various sectors including aerospace and defense, bioelectronics, and communications.

NanoMR

Series B in 2011
NanoMR is a manufacturer of blood diagnostic devices that has pioneered a system for the rapid isolation of rare cells from complex biological samples at concentrations as low as one cell per milliliter. Utilizing an innovative immunomagnetic capture technology, the company can simultaneously target multiple cell types, enabling the efficient extraction of pathogens, such as bacteria and fungi from bloodstream infections, as well as specific cells like circulating tumor cells and fetal cells. This advanced system can achieve results in less than 30 minutes, significantly improving the speed and accuracy of diagnostics in various medical applications.

Exagen

Venture Round in 2011
Exagen Inc. is a commercial-stage diagnostics company focused on developing and commercializing innovative testing products for autoimmune and autoimmune-related diseases. Headquartered in Vista, California, Exagen utilizes its proprietary Cell-Bound Complement Activation Products technology to enhance diagnostic care for conditions like systemic lupus erythematosus and rheumatoid arthritis. The company offers a diverse portfolio of testing products under its AVISE brand, including AVISE CTD for differential diagnosis of connective tissue diseases, AVISE Lupus for monitoring complement system activation, and multiple panels for assessing various autoimmune markers. These products facilitate timely diagnosis and effective therapeutic interventions, enabling rheumatologists to improve patient care. Since its founding in 2002, Exagen has remained committed to addressing the needs of patients suffering from chronic autoimmune diseases.

Exagen

Venture Round in 2011
Exagen Inc. is a commercial-stage diagnostics company focused on developing and commercializing innovative testing products for autoimmune and autoimmune-related diseases. Headquartered in Vista, California, Exagen utilizes its proprietary Cell-Bound Complement Activation Products technology to enhance diagnostic care for conditions like systemic lupus erythematosus and rheumatoid arthritis. The company offers a diverse portfolio of testing products under its AVISE brand, including AVISE CTD for differential diagnosis of connective tissue diseases, AVISE Lupus for monitoring complement system activation, and multiple panels for assessing various autoimmune markers. These products facilitate timely diagnosis and effective therapeutic interventions, enabling rheumatologists to improve patient care. Since its founding in 2002, Exagen has remained committed to addressing the needs of patients suffering from chronic autoimmune diseases.

JackRabbit Systems

Venture Round in 2010
JackRabbit Systems is a technology company focused on serving the global travel industry. It develops a comprehensive platform that includes a booking referral engine, event management software, and marketing performance insights data. Additionally, the company provides event marketing tools and channel distribution solutions, all designed to equip travel companies with software that generates actionable insights. By offering these innovative solutions, JackRabbit Systems aims to enhance efficiency and effectiveness in travel marketing and event management.

NanoMR

Series A in 2008
NanoMR is a manufacturer of blood diagnostic devices that has pioneered a system for the rapid isolation of rare cells from complex biological samples at concentrations as low as one cell per milliliter. Utilizing an innovative immunomagnetic capture technology, the company can simultaneously target multiple cell types, enabling the efficient extraction of pathogens, such as bacteria and fungi from bloodstream infections, as well as specific cells like circulating tumor cells and fetal cells. This advanced system can achieve results in less than 30 minutes, significantly improving the speed and accuracy of diagnostics in various medical applications.

Lumidigm

Series C in 2008
Lumidigm Inc. is a biometric technology company focused on providing secure and reliable identification and verification solutions. The company specializes in developing identification technology that utilizes optical skin tissue measurements, enabling its sensors to produce high-quality images consistently, regardless of environmental conditions. Lumidigm's biometric identity management solutions cater to various applications, including civil identification, point-of-sale systems, time and attendance tracking, and physical and logical access control. Additionally, the company offers its technology for portable electronic devices, ensuring that everyone can be accurately and conveniently identified.

Aspen Avionics

Series B in 2007
Aspen Avionics, headquartered in Albuquerque, New Mexico, was established in 2004 by a group of aviation enthusiasts. The company focuses on developing advanced avionics products aimed at enhancing situational awareness and reducing pilot workload in general aviation. Aspen Avionics offers affordable solutions that allow aircraft owners to upgrade traditional primary flight instruments to modern glass cockpit technology without incurring significant costs or complicated installation processes. Its products are designed to improve safety and ease of flying in both visual and instrument flight rules conditions.

Advent Solar

Series D in 2007
Advent Solar, headquartered in Albuquerque, New Mexico, is a company specializing in the production of silicon photovoltaic cell-to-module technology. They focus on developing intellectual property for advanced, high-energy silicon photovoltaic solutions. Advent Solar's patented technologies enable the creation of high-value solar products that are both efficient and aesthetically pleasing. The company offers its industry-leading Ventura Technology through a licensing model, providing a comprehensive architecture for high-performance solar modules that deliver exceptional value in the silicon PV market.
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