Sun Mountain Capital

Sun Mountain Capital is a private equity firm established in 2006 and based in Santa Fe, New Mexico. The firm is composed of senior private equity professionals with extensive experience dating back to 1981. Its team has a proven track record in creating value through both fund advisory services and direct investments in promising companies. Sun Mountain Capital specializes in developing customized private equity programs for pension plans and other program sponsors, analyzing key success factors across various private equity initiatives to create tailored investment solutions that align with specific goals. The firm also operates as a Registered Investment Adviser.

Kevin Barber

Managing Director at Sun Mountain Capital

Dan Brooks

Principal

Sally Corning

Partner

Hal Hayden

Partner, Private Credit and Investment Committee Member

Lee Rand

Partner

47 past transactions

3d Glass Solutions

Series B in 2022
3D Glass Solutions provides customers complete glass-enabled systems integration services using their patented APEX® Glass. Their mission is to provide our customers with an integrative solution in electronics and IC packaging that allows them to integrate more components onto a single platform while decreasing overall manufacturing costs.

Armonica

Series B in 2021
Armonica Technologies derives its name from prolific innovator Benjamin Franklin’s favorite invention, The Glass Armonica. Armonica Technologies is an early stage medtech company focused on developing its proprietary long-read DNA sequencing technology for precision medicine applications. The Company’s technology is based upon a portfolio of patented and patent pending technologies licensed from STC.UNM.

BayoTech

Series C in 2021
BayoTech is advancing hydrogen innovation and sustainability by providing low-carbon hydrogen solutions that reduce transportation emissions and streamline the supply chain with local production. Focused on meeting regional demand, BayoTech produces and distributes hydrogen through a growing network of BayoGaaS® Hydrogen Hubs, including its operational site in Wentzville, Missouri, and the upcoming hub in Stockton, California. The company also manufactures high-capacity, high-pressure transport trailers at its Tulsa, Oklahoma facility to ensure safe and reliable hydrogen distribution.

First Crop

Series A in 2021
First Crop provides farming technology to bring opportunities for farmers to build environmentally sustainable practices. Its technology offers USDA certified-organic hemp to produce pure, high-quality, hemp-derived health and wellness products.

UbiQD

Series A in 2020
UbiQD is a cleantech materials company that manufactures low-hazard quantum dots (QDs) and nanocomposites. The company produces low-toxicity quantum dots (QDs) so inexpensively that they will become ubiquitous through various target applications including safety, design, solar energy, lighting, security, and personal care. It also provides the perfect conditions for reproducible nanomaterial production while the close proximity to Los Alamos and Sandia National Laboratory allows for beneficial collaborations with leading scientists in the area. UbiQD was founded in 2014 and is headquartered in Los Alamos, New Mexico.

BennuBio

Series B in 2020
BennuBio is developing instruments that can use the flow cytometry paradigm to analyze samples regardless of particle size or sample volume. The company is an emerging technology company delivering unique cell analysis systems. BennuBio was founded in 2018 and based in Albuquerque, New Mexico.

mPower Technology

Series A in 2019
mPower Technology is an innovative solar cell technology startup.They are an experienced team of technology innovators and industry veterans out to shape the future of solar power around the globe.

Exagen

Venture Round in 2019
Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable providers to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including rheumatoid arthritis and lupus. Exagen was established in 2002 and is headquartered in Vista, California.

3d Glass Solutions

Series B in 2019
3D Glass Solutions provides customers complete glass-enabled systems integration services using their patented APEX® Glass. Their mission is to provide our customers with an integrative solution in electronics and IC packaging that allows them to integrate more components onto a single platform while decreasing overall manufacturing costs.

Robotic Skies

Series A in 2019
Robotic Skies is a brokered global network of more than 150 independently-owned and operated repair stations that have the aviation expertise to provide maintenance and repairs on commercial unmanned systems. It draws on only the best FAA-and aviation authority-approved maintenance organizations currently maintaining manned aircraft to offer comprehensive field service programs designed to keep UAS flying safely, efficiently, and affordably.

BennuBio

Series A in 2018
BennuBio is developing instruments that can use the flow cytometry paradigm to analyze samples regardless of particle size or sample volume. The company is an emerging technology company delivering unique cell analysis systems. BennuBio was founded in 2018 and based in Albuquerque, New Mexico.

RiskSense

Series B in 2018
RiskSense®, Inc. provides vulnerability prioritization and management to measure and control cybersecurity risk. The cloud-based RiskSense platform uses a foundation of risk-based scoring, analytics, and technology-accelerated pen testing to identify critical security weaknesses with corresponding remediation action plans, dramatically improving security and IT team efficiency and effectiveness. The company delivers a fully-informed picture of group, department, and organizational cybersecurity risk with our credit-like RiskSense Security Score (RS3). The RiskSense platform continuously correlates customer infrastructure with comprehensive internal and external vulnerability data, threat intelligence, human pen test findings, and business asset criticality to measure risk, provide early warning of weaponization, predict attacks, and prioritize remediation activities to achieve security risk goals

Agilvax

Series A in 2018
Agilvax is a private company that discovers and develops immunotherapies to combat cancer and targeted vaccines against infectious diseases. The company identifies and selects lead vaccine candidates through its proprietary affinity optimizes those by in vitro and in vivo testing and develops them through pre-clinical and/or clinical testing until proof of concept is achieved establishing attractive out-licensing opportunities to Pharma or Biotech partners. Collaborations and partnerships are actively pursued within the industry, academia, and the government sector through NIAID.

BayoTech

Series B in 2018
BayoTech is advancing hydrogen innovation and sustainability by providing low-carbon hydrogen solutions that reduce transportation emissions and streamline the supply chain with local production. Focused on meeting regional demand, BayoTech produces and distributes hydrogen through a growing network of BayoGaaS® Hydrogen Hubs, including its operational site in Wentzville, Missouri, and the upcoming hub in Stockton, California. The company also manufactures high-capacity, high-pressure transport trailers at its Tulsa, Oklahoma facility to ensure safe and reliable hydrogen distribution.

Armonica

Seed Round in 2017
Armonica Technologies derives its name from prolific innovator Benjamin Franklin’s favorite invention, The Glass Armonica. Armonica Technologies is an early stage medtech company focused on developing its proprietary long-read DNA sequencing technology for precision medicine applications. The Company’s technology is based upon a portfolio of patented and patent pending technologies licensed from STC.UNM.

Robotic Skies

Seed Round in 2017
Robotic Skies is a brokered global network of more than 150 independently-owned and operated repair stations that have the aviation expertise to provide maintenance and repairs on commercial unmanned systems. It draws on only the best FAA-and aviation authority-approved maintenance organizations currently maintaining manned aircraft to offer comprehensive field service programs designed to keep UAS flying safely, efficiently, and affordably.

TriLumina Corp.

Venture Round in 2017
TriLumina delivers industry-leading VCSEL illumination solutions for 3D sensing and LiDAR in automotive, industrial and mobile markets. These patented innovations in VCSEL technology for 3D-sensing and LiDAR enable fast development of tomorrow’s technologies. As the preferred industry platform, TriLumina illumination solutions democratize and advance a range of applications—from AR/VR, 3D-cameras to self-driving cars and beyond.

RiskSense

Series A in 2017
RiskSense®, Inc. provides vulnerability prioritization and management to measure and control cybersecurity risk. The cloud-based RiskSense platform uses a foundation of risk-based scoring, analytics, and technology-accelerated pen testing to identify critical security weaknesses with corresponding remediation action plans, dramatically improving security and IT team efficiency and effectiveness. The company delivers a fully-informed picture of group, department, and organizational cybersecurity risk with our credit-like RiskSense Security Score (RS3). The RiskSense platform continuously correlates customer infrastructure with comprehensive internal and external vulnerability data, threat intelligence, human pen test findings, and business asset criticality to measure risk, provide early warning of weaponization, predict attacks, and prioritize remediation activities to achieve security risk goals

SBA Materials

Series D in 2015
SBA Materials is dedicated to the development of functional porous inorganic and inorganic/organic hybrid materials for a wide range of technologies. Different synthesis and processing conditions allow for a variety of material compositions, structures, and applications. They can be fabricated as thin and thick films, powders, fibers, and even optically clear solid monoliths all consisting of highly ordered mesoporous networks. The resulting surface area is extraordinarily high and can be chemically functionalized, e.g. with organic dyes, quantum dots, magnetic materials, or biomaterials enabling applications ranging from electronics and optics to sensors, catalysts. SBA Materials is located in Albuquerque, NM, at the Science and Technology Park, adjacent to the University of New Mexico and the Sandia National Laboratories Materials Research Center. The facility includes R&D laboratories, offices, and meeting space.

Seamless Medical Systems

Venture Round in 2015
Seamless Medical Systems enhances engagement and health literacy to the improvement of patient experiences. Seamless Medical’s vision is to improve the patient experience by enhancing engagement, and health literacy to improve patient outcomes. Patient and family engagement is critical to optimizing the healthcare process, reduce costs, and improve provider performance.

TriLumina Corp.

Series B in 2015
TriLumina delivers industry-leading VCSEL illumination solutions for 3D sensing and LiDAR in automotive, industrial and mobile markets. These patented innovations in VCSEL technology for 3D-sensing and LiDAR enable fast development of tomorrow’s technologies. As the preferred industry platform, TriLumina illumination solutions democratize and advance a range of applications—from AR/VR, 3D-cameras to self-driving cars and beyond.

Respira Therapeutics

Convertible Note in 2015
Respira is a product development-stage company focused on pulmonary delivery of therapeutics for respiratory diseases with unmet medical needs. The company realized seed capitalization from the Cottonwood Technology Fund on October 2010 for scientific development and commercialization of its patent pending technology for passive dry powder inhalers (DPI), consisting of a unique drug delivery engine with a novel, patent pending mechanism of action for lung delivery and therapy. Clinical proof-of-principle has been achieved. Respira Therapeutics DPIs have demonstrated "best-in-class" drug dispersion performance, and are uniquely positioned to replace currently marketed devices and to broaden inhaled therapies to drug classes/disease indications in high value therapeutic areas by virtue of superior performance and payload outcomes.

Aspen Avionics

Venture Round in 2014
Aspen Avionics, based in Albuquerque, New Mexico, was founded by aviation enthusiasts in 2004. The company specializes in bringing the most advanced technology and capability into general aviation cockpits. Its products increase situational awareness and reduce pilot workload, making it even easier and safer to fly in both VFR and IFR conditions. The company’s philosophy is that getting the latest avionics technology shouldn’t always mean spending a lot of money—on equipment or on installation.

Respira Therapeutics

Convertible Note in 2014
Respira is a product development-stage company focused on pulmonary delivery of therapeutics for respiratory diseases with unmet medical needs. The company realized seed capitalization from the Cottonwood Technology Fund on October 2010 for scientific development and commercialization of its patent pending technology for passive dry powder inhalers (DPI), consisting of a unique drug delivery engine with a novel, patent pending mechanism of action for lung delivery and therapy. Clinical proof-of-principle has been achieved. Respira Therapeutics DPIs have demonstrated "best-in-class" drug dispersion performance, and are uniquely positioned to replace currently marketed devices and to broaden inhaled therapies to drug classes/disease indications in high value therapeutic areas by virtue of superior performance and payload outcomes.

SBA Materials

Series C in 2014
SBA Materials is dedicated to the development of functional porous inorganic and inorganic/organic hybrid materials for a wide range of technologies. Different synthesis and processing conditions allow for a variety of material compositions, structures, and applications. They can be fabricated as thin and thick films, powders, fibers, and even optically clear solid monoliths all consisting of highly ordered mesoporous networks. The resulting surface area is extraordinarily high and can be chemically functionalized, e.g. with organic dyes, quantum dots, magnetic materials, or biomaterials enabling applications ranging from electronics and optics to sensors, catalysts. SBA Materials is located in Albuquerque, NM, at the Science and Technology Park, adjacent to the University of New Mexico and the Sandia National Laboratories Materials Research Center. The facility includes R&D laboratories, offices, and meeting space.

Exagen

Debt Financing in 2014
Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable providers to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including rheumatoid arthritis and lupus. Exagen was established in 2002 and is headquartered in Vista, California.

xF Technologies

Debt Financing in 2014
XF Technologies is a technology company that recycles renewable waste biomass into valuable products such as fuel, additives, petrochemical replacements, and specialty chemicals. Its molecular platform belongs to a family of chemicals called furaotes or simply 408s that provide similar or superior performance to the ingredients they intend to replace. In some cases, 408s can replace multiple ingredients in a formulation leading to significant cost savings. In other applications cost savings is a result of the total cost of ownership of the final product due to its improved environmental health and safety (EHS) rating. XF Technologies was founded in 2007 and is headquartered in Albuquerque, New Mexico.

TriLumina Corp.

Series A in 2014
TriLumina delivers industry-leading VCSEL illumination solutions for 3D sensing and LiDAR in automotive, industrial and mobile markets. These patented innovations in VCSEL technology for 3D-sensing and LiDAR enable fast development of tomorrow’s technologies. As the preferred industry platform, TriLumina illumination solutions democratize and advance a range of applications—from AR/VR, 3D-cameras to self-driving cars and beyond.

xF Technologies

Series A in 2014
XF Technologies is a technology company that recycles renewable waste biomass into valuable products such as fuel, additives, petrochemical replacements, and specialty chemicals. Its molecular platform belongs to a family of chemicals called furaotes or simply 408s that provide similar or superior performance to the ingredients they intend to replace. In some cases, 408s can replace multiple ingredients in a formulation leading to significant cost savings. In other applications cost savings is a result of the total cost of ownership of the final product due to its improved environmental health and safety (EHS) rating. XF Technologies was founded in 2007 and is headquartered in Albuquerque, New Mexico.

Exagen

Debt Financing in 2013
Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable providers to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including rheumatoid arthritis and lupus. Exagen was established in 2002 and is headquartered in Vista, California.

Respira Therapeutics

Series A in 2013
Respira is a product development-stage company focused on pulmonary delivery of therapeutics for respiratory diseases with unmet medical needs. The company realized seed capitalization from the Cottonwood Technology Fund on October 2010 for scientific development and commercialization of its patent pending technology for passive dry powder inhalers (DPI), consisting of a unique drug delivery engine with a novel, patent pending mechanism of action for lung delivery and therapy. Clinical proof-of-principle has been achieved. Respira Therapeutics DPIs have demonstrated "best-in-class" drug dispersion performance, and are uniquely positioned to replace currently marketed devices and to broaden inhaled therapies to drug classes/disease indications in high value therapeutic areas by virtue of superior performance and payload outcomes.

xF Technologies

Series A in 2013
XF Technologies is a technology company that recycles renewable waste biomass into valuable products such as fuel, additives, petrochemical replacements, and specialty chemicals. Its molecular platform belongs to a family of chemicals called furaotes or simply 408s that provide similar or superior performance to the ingredients they intend to replace. In some cases, 408s can replace multiple ingredients in a formulation leading to significant cost savings. In other applications cost savings is a result of the total cost of ownership of the final product due to its improved environmental health and safety (EHS) rating. XF Technologies was founded in 2007 and is headquartered in Albuquerque, New Mexico.

TriLumina Corp.

Series A in 2013
TriLumina delivers industry-leading VCSEL illumination solutions for 3D sensing and LiDAR in automotive, industrial and mobile markets. These patented innovations in VCSEL technology for 3D-sensing and LiDAR enable fast development of tomorrow’s technologies. As the preferred industry platform, TriLumina illumination solutions democratize and advance a range of applications—from AR/VR, 3D-cameras to self-driving cars and beyond.

Aspen Avionics

Series C in 2012
Aspen Avionics, based in Albuquerque, New Mexico, was founded by aviation enthusiasts in 2004. The company specializes in bringing the most advanced technology and capability into general aviation cockpits. Its products increase situational awareness and reduce pilot workload, making it even easier and safer to fly in both VFR and IFR conditions. The company’s philosophy is that getting the latest avionics technology shouldn’t always mean spending a lot of money—on equipment or on installation.

Exagen

Series C in 2012
Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable providers to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including rheumatoid arthritis and lupus. Exagen was established in 2002 and is headquartered in Vista, California.

Comet Solutions

Series C in 2012
Comet Solutions provides software applications that enable manufacturers to develop product development process. Its mission is to deliver innovative technology that changes the landscape of how simulation can be used in the product development process. The company was founded in 2001 and is headquartered in Cincinnati, Ohio.

Exagen

Venture Round in 2012
Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable providers to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including rheumatoid arthritis and lupus. Exagen was established in 2002 and is headquartered in Vista, California.

Exagen

Venture Round in 2011
Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable providers to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including rheumatoid arthritis and lupus. Exagen was established in 2002 and is headquartered in Vista, California.

Skorpios Technologies

Series B in 2011
Skorpios Technologies provides gain materials, wafer-scale processes, direct detection, coherent, co-packaged optics, and lidar products. They also provide uncooled tunable laser technology and coherent transceiver devices. Their services include solution design, development, and production services.

nanoMR

Series B in 2011
nanoMR has developed the first system for rapid isolation of rare cells from complex matrices at levels of 1 cell/mL or lower. The immunomagnetic capture system can target multiple cell types simultaneously, for example capturing bacteria and fungi from bloodstream infections, or specific cell types, such as circulating tumor, or fetal, cells, in less than 30 minutes.

Exagen

Venture Round in 2011
Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable providers to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including rheumatoid arthritis and lupus. Exagen was established in 2002 and is headquartered in Vista, California.

Exagen

Venture Round in 2011
Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable providers to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including rheumatoid arthritis and lupus. Exagen was established in 2002 and is headquartered in Vista, California.

JackRabbit Systems

Venture Round in 2010
JackRabbit Systems develops a technology platform intended for the global travel industry. They offer a booking referral engine, event management software, marketing performance insights data, event marketing tools, and channel distribution solutions, providing travel companies with software solutions that generate purpose-driven insights.

nanoMR

Series A in 2008
nanoMR has developed the first system for rapid isolation of rare cells from complex matrices at levels of 1 cell/mL or lower. The immunomagnetic capture system can target multiple cell types simultaneously, for example capturing bacteria and fungi from bloodstream infections, or specific cell types, such as circulating tumor, or fetal, cells, in less than 30 minutes.

Lumidigm

Series C in 2008
Lumidigm Inc. is a biometric company dedicated to enabling convenient, secure, and reliable identification and verification. Lumidigm powered sensors work because they produce high-quality images every time, in all conditions. Everyone is identifiable. Lumidigm provides biometric identity management for civil ID, point-of-sale, time & attendance, physical and logical access, and portable electronic device applications.

Aspen Avionics

Series B in 2007
Aspen Avionics, based in Albuquerque, New Mexico, was founded by aviation enthusiasts in 2004. The company specializes in bringing the most advanced technology and capability into general aviation cockpits. Its products increase situational awareness and reduce pilot workload, making it even easier and safer to fly in both VFR and IFR conditions. The company’s philosophy is that getting the latest avionics technology shouldn’t always mean spending a lot of money—on equipment or on installation.

Advent Solar

Series D in 2007
Advent Solar produces silicon photovoltaic cell-to-module technology. Based in Albuquerque, New Mexico, U.S.A., the company focuses on delivering intellectual property (IP) for intelligent, high-energy silicon photovoltaic (PV) solutions. With patented, advanced technologies, Advent Solar enables higher value products that are Beautiful by Design™, changing the rules for smart grid economics. Advent Solar provides its industry-leading Ventura™ Technology through a licensing model. Ventura Solar Technology is a comprehensive cell-to-module architecture for high-performance solar modules that deliver the industry’s best value for silicon PV modules.
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