Venture Investors

Venture Investors, LLC, established in 1982, is a Wisconsin-based venture capital firm specializing in seed and early-stage investments in the healthcare sector, with a focus on the Midwest region. The firm invests in biotechnology, medical devices, diagnostics, digital health, and other technology-enabled healthcare companies. It seeks to invest $0.25 million to $2.5 million initially, with the potential for follow-on investments of up to $8 million, typically holding investments for five to seven years. Venture Investors aims to be the lead investor and prefers to invest in the form of preferred stock and/or debt with warrant coverage. The firm has offices in Madison, Wisconsin, Ann Arbor, Michigan, and Milwaukee, Wisconsin, and has over $200 million in assets under management.

James Adox

Executive Managing Director

Scott Button

Managing Director

Jenni Le

Principal

Jenni Le

Associate

John Neis

Managing Director

Paul Weiss

Managing Director

Paul Weiss Ph.D

Managing Director

102 past transactions

Rivermark Medical

Series C in 2024
Rivermark Medical is a medical device company focused on developing minimally invasive therapies for Benign Prostatic Hyperplasia (BPH), a condition that significantly impacts urinary function. The technology, created by urologists, aims to provide effective symptom relief while minimizing side effects and patient downtime. This innovative treatment allows for a swift return to normal daily activities, eliminating the need for post-procedural catheters and ensuring a reliable reduction in BPH symptoms. Rivermark Medical’s approach reflects a commitment to improving patient outcomes through advanced medical solutions.

HistoSonics

Series D in 2024
HistoSonics develops a non-invasive tumor ablation system called Edison. This platform uses pulsed sound energy to destroy targeted tissues at the sub-cellular level without requiring incisions or needles.

EarliTec Diagnostics

Series B in 2024
EarliTec Diagnostics is a digital health company developing innovative diagnostic tools for autism spectrum disorder (ASD) and related disabilities in children. Founded by renowned researchers from Children’s Healthcare of Atlanta, Emory University School of Medicine, and Yale University, EarliTec aims to enable earlier identification and treatment through its proprietary technology that quantifies social-visual engagement.

ViaLase

Series C in 2024
ViaLase is a medical technology company that specializes in developing an image-guided femtosecond laser surgical system for the treatment of open-angle glaucoma. Founded in 2019 and based in Corona Del Mar, California, the company focuses on utilizing micron-resolution optical coherence tomography (OCT) technology. This innovative approach enables the creation of customized, micron-sized drainage channels through the trabecular meshwork, connecting the anterior chamber to Schlemm's canal without the need for surgical penetration or opening of the eye. By offering an efficient and non-invasive treatment option, ViaLase aims to enhance the management of glaucoma for medical professionals and their patients.

Elephas

Series C in 2024
Elephas is a company focused on revolutionizing cancer treatment through its innovative live tumor imaging diagnostics platform. By leveraging advances in cancer biology, multimodal microscopy, engineering, and artificial intelligence, Elephas aims to enhance clinical decision-making and personalize therapy for cancer patients. The company's approach involves the use of human live tumor fragments, allowing clinicians to determine the most effective treatment strategies for individual patients. In doing so, Elephas not only seeks to improve patient outcomes but also to expedite the drug development process, addressing the significant challenges faced in oncology.

Visana Health

Seed Round in 2023
Visana Health specializes in digital health solutions for women's reproductive wellness. They focus on improving the quality of life for those experiencing severe menstrual pain, particularly endometriosis and pelvic pain. Their platform offers personalized treatment plans and longitudinal care, addressing a wide range of women's health needs, including preventive care, urgent care, gynecology, and chronic conditions like PCOS and menopause.

HistoSonics

Convertible Note in 2022
HistoSonics develops a non-invasive tumor ablation system called Edison. This platform uses pulsed sound energy to destroy targeted tissues at the sub-cellular level without requiring incisions or needles.

Delphinus Medical Technologies

Series D in 2022
Delphinus Medical Technologies, Inc. is a medical imaging company based in Plymouth, Michigan, with an additional office in Sunnyvale, California. Founded in 2009, the company specializes in developing and commercializing innovative breast cancer screening solutions. Its flagship product, SoftVue, employs a unique circular array transducer technology that utilizes ultrasound to provide three-dimensional and tomographic imaging of the entire breast. This system is designed to differentiate between benign and malignant masses, assess breast cancer risks, and monitor treatment, all while ensuring a comfortable experience for patients without the use of radiation. Delphinus serves hospitals and imaging clinics both in the United States and internationally, aiming to improve early detection and diagnosis of breast cancer.

EnsoData

Series A in 2022
EnsoData is a healthcare technology company that employs artificial intelligence to analyze human body data for diagnosing health conditions. Its core product is an autoscoring algorithm combining AASM scoring best practices with advanced machine learning, adapting to each patient's unique data.

ViaLase

Series A in 2021
ViaLase is a medical technology company that specializes in developing an image-guided femtosecond laser surgical system for the treatment of open-angle glaucoma. Founded in 2019 and based in Corona Del Mar, California, the company focuses on utilizing micron-resolution optical coherence tomography (OCT) technology. This innovative approach enables the creation of customized, micron-sized drainage channels through the trabecular meshwork, connecting the anterior chamber to Schlemm's canal without the need for surgical penetration or opening of the eye. By offering an efficient and non-invasive treatment option, ViaLase aims to enhance the management of glaucoma for medical professionals and their patients.

EnsoData

Series A in 2020
EnsoData is a healthcare technology company that employs artificial intelligence to analyze human body data for diagnosing health conditions. Its core product is an autoscoring algorithm combining AASM scoring best practices with advanced machine learning, adapting to each patient's unique data.

HistoSonics

Series C in 2020
HistoSonics develops a non-invasive tumor ablation system called Edison. This platform uses pulsed sound energy to destroy targeted tissues at the sub-cellular level without requiring incisions or needles.

Eximis Surgical

Series A in 2020
Eximis Surgical develops a laparoscopic specimen removal device that uses RF energized cutting wires within a containment bag to enable rapid extraction of large specimens through small incisions. Founded in 2014 and based in Louisville, Colorado, the company aims to integrate its device into standard surgical protocols to shorten procedure times, reduce patient discomfort, and maintain safety. The system segments specimens into narrow strips to produce clean tissue blocks for pathology, supporting minimally invasive surgery and enabling surgeons to perform complex resections with less invasiveness.

Health Scholars

Series B in 2020
Health Scholars is a developer of medical simulation training software and virtual reality training solutions for healthcare providers and their staff. The platform combines clinical education, analytics, and VR technology to deliver scalable training across health systems. Its offerings include pre-hospital ACLS VR training for first responders, in hospital ACLS VR training for clinicians, and The OR, a VR surgical fire training module designed to mitigate risks and liability. The software is designed to manage, deliver, and track interactive training content, enabling cost-effective, immersive learning and improved preparedness across clinical teams.

SkySpecs

Series C in 2019
SkySpecs develops unmanned aerial vehicles and integrated software solutions for the wind energy sector, focusing on operations and maintenance. Its offerings include analytics, blade inspection services, engineering projects, and collaborative tools that aggregate and digitize data from multiple sources. The Horizon reporting platform and a central data repository streamline communication with third parties and enable full‑scale repair campaigns. Founded in 2012, the company is headquartered in Ann Arbor, Michigan, with an additional office in Amsterdam, Netherlands. SkySpecs aims to enhance productivity, efficiency, and returns for renewable energy assets by providing purpose‑built technologies that help customers make informed decisions.

HistoSonics

Series C in 2019
HistoSonics develops a non-invasive tumor ablation system called Edison. This platform uses pulsed sound energy to destroy targeted tissues at the sub-cellular level without requiring incisions or needles.

Eximis Surgical

Venture Round in 2018
Eximis Surgical develops a laparoscopic specimen removal device that uses RF energized cutting wires within a containment bag to enable rapid extraction of large specimens through small incisions. Founded in 2014 and based in Louisville, Colorado, the company aims to integrate its device into standard surgical protocols to shorten procedure times, reduce patient discomfort, and maintain safety. The system segments specimens into narrow strips to produce clean tissue blocks for pathology, supporting minimally invasive surgery and enabling surgeons to perform complex resections with less invasiveness.

Invenra

Series B in 2018
Invenra is a biotechnology company focused on discovering and developing biologics, with emphasis on antibodies and their derivatives. The company has developed a platform that combines cell-free expression of full-length antibodies with extreme miniaturization, enabling high-throughput screening of large numbers of full-length antibodies in phenotypic assays. Founded in 2011 and headquartered in Madison, Wisconsin, Invenra aims to discover and optimize human multi-specific antibodies for cancer, Alzheimer’s disease, and diabetes, assisting drug development efforts by optimizing bispecific formats, binding affinities, candidate pairings, and linker designs in biologically relevant assays.

HealthMyne

Series B in 2018
HealthMyne, Inc. is a healthcare informatics company based in Madison, Wisconsin, specializing in innovative search, analytics, and imaging solutions tailored for cancer care providers. Founded in 2013, the company aims to enhance clinical decision-making by offering real-time, evidence-based imaging insights that support optimized patient care and reduce delivery costs. HealthMyne's technology enables physicians to manipulate tumor images and access electronic health records and image repositories, facilitating the diagnosis and treatment of similar cases. The company’s platform also focuses on improving patient management through features such as automatic tumor staging, dose overlays, and specialized reporting, which streamline clinical workflows and support precision medicine initiatives.

SkySpecs

Series B in 2018
SkySpecs develops unmanned aerial vehicles and integrated software solutions for the wind energy sector, focusing on operations and maintenance. Its offerings include analytics, blade inspection services, engineering projects, and collaborative tools that aggregate and digitize data from multiple sources. The Horizon reporting platform and a central data repository streamline communication with third parties and enable full‑scale repair campaigns. Founded in 2012, the company is headquartered in Ann Arbor, Michigan, with an additional office in Amsterdam, Netherlands. SkySpecs aims to enhance productivity, efficiency, and returns for renewable energy assets by providing purpose‑built technologies that help customers make informed decisions.

HealthMyne

Venture Round in 2017
HealthMyne, Inc. is a healthcare informatics company based in Madison, Wisconsin, specializing in innovative search, analytics, and imaging solutions tailored for cancer care providers. Founded in 2013, the company aims to enhance clinical decision-making by offering real-time, evidence-based imaging insights that support optimized patient care and reduce delivery costs. HealthMyne's technology enables physicians to manipulate tumor images and access electronic health records and image repositories, facilitating the diagnosis and treatment of similar cases. The company’s platform also focuses on improving patient management through features such as automatic tumor staging, dose overlays, and specialized reporting, which streamline clinical workflows and support precision medicine initiatives.

FluGen

Series A in 2017
FluGen, Inc. is a biopharmaceutical company based in Madison, Wisconsin, focused on developing vaccines to prevent diseases caused by influenza viruses. Founded in 2007, FluGen specializes in both seasonal and pandemic influenza prevention. The company offers RedeeFlu, a nasal spray vaccine, and utilizes a vaccine-loaded intradermal microneedle delivery device. FluGen's innovative approach includes the use of a live, single replication, intranasally delivered virus with a deleted M2 segment (M2SR), enhancing its ability to prevent the spread of influenza and other respiratory pathogens, including COVID-19.

Aerpio Pharmaceuticals

Venture Round in 2017
Aerpio Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company based in Cincinnati, Ohio, focused on developing innovative compounds for the treatment of ocular diseases and diabetic complications. The company's lead candidate, razuprotafib, is a small molecule activator of the Tie2 pathway that has completed a Phase IIb clinical trial for diabetic retinopathy. Additionally, Aerpio is advancing ARP-1536, a humanized monoclonal antibody in preclinical development for diabetic vascular complications, and GB004, a selective stabilizer of hypoxia-inducible factor-1 alpha, currently undergoing a Phase 1b trial for inflammatory bowel disease. Furthermore, the company is developing a bispecific antibody for the treatment of wet age-related macular degeneration and diabetic macular edema. Aerpio has also partnered with Quantum Leap Healthcare Collaborative to evaluate razuprotafib's potential in treating acute respiratory distress syndrome in COVID-19 patients. Founded in 2011, Aerpio Pharmaceuticals aims for rapid development of its promising therapies.

HistoSonics

Series B in 2017
HistoSonics develops a non-invasive tumor ablation system called Edison. This platform uses pulsed sound energy to destroy targeted tissues at the sub-cellular level without requiring incisions or needles.

Elucent Medical

Series A in 2017
Elucent Medical LLC is a healthcare company focused on enhancing breast cancer treatment. Established in 2014 and headquartered in Brookfield, Wisconsin, Elucent Medical creates and commercializes a wireless marker tag and detection system that improves the localization of breast abnormalities during surgical excision. Their advanced surgical navigation technology relies on real-time data processing to accurately identify surgical markers, which helps in determining tumor margins and ultimately contributes to better patient outcomes. By streamlining the surgical process and eliminating the need for traditional metal clips, Elucent Medical aims to make breast cancer procedures more accessible and affordable while enabling surgeons to effectively preserve breast tissue during cancer removal. The company's innovations serve both healthcare providers and patients, enhancing the overall efficacy of breast cancer surgeries.

TAI Diagnostics

Venture Round in 2017
TAI Diagnostics, Inc. is a biotechnology company founded in 2013 and based in Wauwatosa, Wisconsin. It specializes in developing a non-invasive and highly sensitive diagnostic test aimed at monitoring the health of transplanted organs in patients who have undergone solid organ transplants. Utilizing advanced cell-free DNA (cf-DNA) technology, TAI Diagnostics provides a direct measurement of organ injury by quantifying donor-specific cf-DNA released into the bloodstream from damaged cells of transplanted organs. This innovative approach enables physicians to detect organ rejection at an early stage and conduct regular surveillance biopsies, ultimately enhancing patient outcomes in transplant care. The company is strategically located in the Milwaukee County Research Park, near key medical research institutions.

Madison Vaccines

Venture Round in 2017
Madison Vaccines, Inc. is a biopharmaceutical company based in the United States that specializes in the development of therapeutic plasmid DNA vaccines, specifically targeting prostate cancer and bone metastases. The company is engaged in creating two distinct vaccines aimed at treating prostate cancer and is also developing a diagnostic test to identify patients who would benefit from these therapies. Madison Vaccines' immune-activating therapies are designed to stimulate the immune system to eradicate residual tumor cells before they progress to overt bone metastases, thus delaying the need for castration therapies and improving the chances of a cure at an early stage of the disease.

HealthMyne

Venture Round in 2016
HealthMyne, Inc. is a healthcare informatics company based in Madison, Wisconsin, specializing in innovative search, analytics, and imaging solutions tailored for cancer care providers. Founded in 2013, the company aims to enhance clinical decision-making by offering real-time, evidence-based imaging insights that support optimized patient care and reduce delivery costs. HealthMyne's technology enables physicians to manipulate tumor images and access electronic health records and image repositories, facilitating the diagnosis and treatment of similar cases. The company’s platform also focuses on improving patient management through features such as automatic tumor staging, dose overlays, and specialized reporting, which streamline clinical workflows and support precision medicine initiatives.

Silatronix

Venture Round in 2016
Silatronix, Inc. is a company that specializes in the development of organosilicon compounds and formulations for energy storage applications. Founded in 2007 and based in Madison, Wisconsin, Silatronix focuses on creating organosilicon electrolytes designed for use in rechargeable and non-rechargeable lithium-ion batteries, as well as in ultracapacitors. The company's patented materials enhance battery performance by extending cell life, increasing capacity, and enabling operation across a broader temperature range. These advancements allow for the safe use of higher charge voltages, making Silatronix's products suitable for various applications, including portable electronics, electric vehicles, and large-scale energy storage systems.

FluGen

Venture Round in 2016
FluGen, Inc. is a biopharmaceutical company based in Madison, Wisconsin, focused on developing vaccines to prevent diseases caused by influenza viruses. Founded in 2007, FluGen specializes in both seasonal and pandemic influenza prevention. The company offers RedeeFlu, a nasal spray vaccine, and utilizes a vaccine-loaded intradermal microneedle delivery device. FluGen's innovative approach includes the use of a live, single replication, intranasally delivered virus with a deleted M2 segment (M2SR), enhancing its ability to prevent the spread of influenza and other respiratory pathogens, including COVID-19.

SkySpecs

Series A in 2015
SkySpecs develops unmanned aerial vehicles and integrated software solutions for the wind energy sector, focusing on operations and maintenance. Its offerings include analytics, blade inspection services, engineering projects, and collaborative tools that aggregate and digitize data from multiple sources. The Horizon reporting platform and a central data repository streamline communication with third parties and enable full‑scale repair campaigns. Founded in 2012, the company is headquartered in Ann Arbor, Michigan, with an additional office in Amsterdam, Netherlands. SkySpecs aims to enhance productivity, efficiency, and returns for renewable energy assets by providing purpose‑built technologies that help customers make informed decisions.

TAI Diagnostics

Series A in 2015
TAI Diagnostics, Inc. is a biotechnology company founded in 2013 and based in Wauwatosa, Wisconsin. It specializes in developing a non-invasive and highly sensitive diagnostic test aimed at monitoring the health of transplanted organs in patients who have undergone solid organ transplants. Utilizing advanced cell-free DNA (cf-DNA) technology, TAI Diagnostics provides a direct measurement of organ injury by quantifying donor-specific cf-DNA released into the bloodstream from damaged cells of transplanted organs. This innovative approach enables physicians to detect organ rejection at an early stage and conduct regular surveillance biopsies, ultimately enhancing patient outcomes in transplant care. The company is strategically located in the Milwaukee County Research Park, near key medical research institutions.

Silatronix

Venture Round in 2015
Silatronix, Inc. is a company that specializes in the development of organosilicon compounds and formulations for energy storage applications. Founded in 2007 and based in Madison, Wisconsin, Silatronix focuses on creating organosilicon electrolytes designed for use in rechargeable and non-rechargeable lithium-ion batteries, as well as in ultracapacitors. The company's patented materials enhance battery performance by extending cell life, increasing capacity, and enabling operation across a broader temperature range. These advancements allow for the safe use of higher charge voltages, making Silatronix's products suitable for various applications, including portable electronics, electric vehicles, and large-scale energy storage systems.

Delphinus Medical Technologies

Series C in 2015
Delphinus Medical Technologies, Inc. is a medical imaging company based in Plymouth, Michigan, with an additional office in Sunnyvale, California. Founded in 2009, the company specializes in developing and commercializing innovative breast cancer screening solutions. Its flagship product, SoftVue, employs a unique circular array transducer technology that utilizes ultrasound to provide three-dimensional and tomographic imaging of the entire breast. This system is designed to differentiate between benign and malignant masses, assess breast cancer risks, and monitor treatment, all while ensuring a comfortable experience for patients without the use of radiation. Delphinus serves hospitals and imaging clinics both in the United States and internationally, aiming to improve early detection and diagnosis of breast cancer.

ReShape Lifesciences

Series D in 2015
ReShape Lifesciences is a medical device company focused on technologies to treat obesity and metabolic diseases. The company develops and commercializes products designed to provide less invasive options for weight loss, including the Lap-Band System, an adjustable gastric banding device for long-term obesity management. It also has the ReShape Vest system, an investigational laparoscopically implanted device that wraps around the stomach and is designed to support weight loss without permanent changes to the GI tract; the Vest is primarily marketed outside the United States. The company traces its origins to EnteroMedics and adopted the ReShape Lifesciences name in 2017. It is headquartered in San Clemente, California, and operates in multiple international markets.

FluGen

Series A in 2015
FluGen, Inc. is a biopharmaceutical company based in Madison, Wisconsin, focused on developing vaccines to prevent diseases caused by influenza viruses. Founded in 2007, FluGen specializes in both seasonal and pandemic influenza prevention. The company offers RedeeFlu, a nasal spray vaccine, and utilizes a vaccine-loaded intradermal microneedle delivery device. FluGen's innovative approach includes the use of a live, single replication, intranasally delivered virus with a deleted M2 segment (M2SR), enhancing its ability to prevent the spread of influenza and other respiratory pathogens, including COVID-19.

Neurovance

Series A in 2015
Neurovance, Inc. is a clinical-stage neuroscience company headquartered in Cambridge, Massachusetts, focused on developing and commercializing therapies for attention deficit hyperactivity disorder (ADHD) in both adults and children. Founded in 2009, Neurovance has developed centanafadine, a triple reuptake inhibitor that precisely modulates the activity of norepinephrine, dopamine, and serotonin to enhance focus and address symptoms of inattention and disorganization in ADHD patients. As of 2017, Neurovance operates as a subsidiary of Otsuka America, Inc.

NeuWave Medical

Series C in 2015
Founded in 2004 and based in Madison, Wisconsin, NeuWave Medical develops high-quality, minimally invasive medical devices that use energy to treat various serious health conditions. Led by founders who are both engineers and physician-scientists, the company aims to create clinically relevant and effective solutions, making its products the preferred choice for leading healthcare providers worldwide.

HealthMyne

Series A in 2015
HealthMyne, Inc. is a healthcare informatics company based in Madison, Wisconsin, specializing in innovative search, analytics, and imaging solutions tailored for cancer care providers. Founded in 2013, the company aims to enhance clinical decision-making by offering real-time, evidence-based imaging insights that support optimized patient care and reduce delivery costs. HealthMyne's technology enables physicians to manipulate tumor images and access electronic health records and image repositories, facilitating the diagnosis and treatment of similar cases. The company’s platform also focuses on improving patient management through features such as automatic tumor staging, dose overlays, and specialized reporting, which streamline clinical workflows and support precision medicine initiatives.

Madison Vaccines

Series A in 2015
Madison Vaccines, Inc. is a biopharmaceutical company based in the United States that specializes in the development of therapeutic plasmid DNA vaccines, specifically targeting prostate cancer and bone metastases. The company is engaged in creating two distinct vaccines aimed at treating prostate cancer and is also developing a diagnostic test to identify patients who would benefit from these therapies. Madison Vaccines' immune-activating therapies are designed to stimulate the immune system to eradicate residual tumor cells before they progress to overt bone metastases, thus delaying the need for castration therapies and improving the chances of a cure at an early stage of the disease.

Silatronix

Funding Round in 2015
Silatronix, Inc. is a company that specializes in the development of organosilicon compounds and formulations for energy storage applications. Founded in 2007 and based in Madison, Wisconsin, Silatronix focuses on creating organosilicon electrolytes designed for use in rechargeable and non-rechargeable lithium-ion batteries, as well as in ultracapacitors. The company's patented materials enhance battery performance by extending cell life, increasing capacity, and enabling operation across a broader temperature range. These advancements allow for the safe use of higher charge voltages, making Silatronix's products suitable for various applications, including portable electronics, electric vehicles, and large-scale energy storage systems.

Thalchemy

Funding Round in 2015
Thalchemy Corp. is a technology company focused on the development of neurally-inspired algorithms and accelerators to facilitate continuous sensory processing in smartphones and other battery-operated devices. Its algorithms emulate the function of the mammalian thalamus, which routes and preprocesses sensory data. Thalchemy's solutions enable the constant detection of complex patterns across various sensory modalities, including gestures and voice commands, significantly extending battery life for devices. The technology supports power-efficient voice and gesture control, creating opportunities for always-on applications and user interfaces. Additionally, it provides applications for real-time monitoring of environmental conditions, capable of signaling emergency assistance in cases of accidents or medical emergencies. Founded in 2012 and based in Madison, Wisconsin, Thalchemy Corp. aims to transform user interaction by allowing devices to continuously monitor surroundings even when in low-power modes.

Prevacept Infection Control

Venture Round in 2014
Prevacept Infection Control is a clinical-stage company dedicated to developing and commercializing products aimed at preventing infections linked to indwelling catheters.

Thalchemy

Seed Round in 2014
Thalchemy Corp. is a technology company focused on the development of neurally-inspired algorithms and accelerators to facilitate continuous sensory processing in smartphones and other battery-operated devices. Its algorithms emulate the function of the mammalian thalamus, which routes and preprocesses sensory data. Thalchemy's solutions enable the constant detection of complex patterns across various sensory modalities, including gestures and voice commands, significantly extending battery life for devices. The technology supports power-efficient voice and gesture control, creating opportunities for always-on applications and user interfaces. Additionally, it provides applications for real-time monitoring of environmental conditions, capable of signaling emergency assistance in cases of accidents or medical emergencies. Founded in 2012 and based in Madison, Wisconsin, Thalchemy Corp. aims to transform user interaction by allowing devices to continuously monitor surroundings even when in low-power modes.

HistoSonics

Series A in 2014
HistoSonics develops a non-invasive tumor ablation system called Edison. This platform uses pulsed sound energy to destroy targeted tissues at the sub-cellular level without requiring incisions or needles.

Aerpio Pharmaceuticals

Series C in 2014
Aerpio Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company based in Cincinnati, Ohio, focused on developing innovative compounds for the treatment of ocular diseases and diabetic complications. The company's lead candidate, razuprotafib, is a small molecule activator of the Tie2 pathway that has completed a Phase IIb clinical trial for diabetic retinopathy. Additionally, Aerpio is advancing ARP-1536, a humanized monoclonal antibody in preclinical development for diabetic vascular complications, and GB004, a selective stabilizer of hypoxia-inducible factor-1 alpha, currently undergoing a Phase 1b trial for inflammatory bowel disease. Furthermore, the company is developing a bispecific antibody for the treatment of wet age-related macular degeneration and diabetic macular edema. Aerpio has also partnered with Quantum Leap Healthcare Collaborative to evaluate razuprotafib's potential in treating acute respiratory distress syndrome in COVID-19 patients. Founded in 2011, Aerpio Pharmaceuticals aims for rapid development of its promising therapies.

Neurovance

Series A in 2014
Neurovance, Inc. is a clinical-stage neuroscience company headquartered in Cambridge, Massachusetts, focused on developing and commercializing therapies for attention deficit hyperactivity disorder (ADHD) in both adults and children. Founded in 2009, Neurovance has developed centanafadine, a triple reuptake inhibitor that precisely modulates the activity of norepinephrine, dopamine, and serotonin to enhance focus and address symptoms of inattention and disorganization in ADHD patients. As of 2017, Neurovance operates as a subsidiary of Otsuka America, Inc.

NeuMoDx Molecular

Series B in 2014
NeuMoDx Molecular, Inc. is a molecular diagnostics company based in Ann Arbor, Michigan, that focuses on developing innovative solutions for molecular diagnostic testing in hospital and clinical reference laboratories. Established in 2012 and formerly known as Molecular Systems Corporation, NeuMoDx provides in-vitro testing tools designed to enhance the efficiency and cost-effectiveness of laboratory operations. The company's platform aims to increase the utilization of molecular diagnostics among medical providers, facilitating early disease identification and treatment. As of September 2020, NeuMoDx operates as a subsidiary of QIAGEN N.V.

UpTo

Series A in 2014
UpTo, Inc. is a developer of a social calendar application that enhances users' ability to manage and share events seamlessly. Founded in 2011 and based in Detroit, Michigan, UpTo offers a platform that allows organizations to publish their calendars and connect privately with friends, family, and colleagues. Users can follow various event streams, prioritize important events, and synchronize their calendars with popular services such as Google Calendar and Outlook. The application also enables users to add and manage events effortlessly, providing a clutter-free view of upcoming activities. With its focus on interactivity and customization, UpTo aims to simplify event sharing and accessibility for businesses and individuals alike.

Madison Vaccines

Series A in 2014
Madison Vaccines, Inc. is a biopharmaceutical company based in the United States that specializes in the development of therapeutic plasmid DNA vaccines, specifically targeting prostate cancer and bone metastases. The company is engaged in creating two distinct vaccines aimed at treating prostate cancer and is also developing a diagnostic test to identify patients who would benefit from these therapies. Madison Vaccines' immune-activating therapies are designed to stimulate the immune system to eradicate residual tumor cells before they progress to overt bone metastases, thus delaying the need for castration therapies and improving the chances of a cure at an early stage of the disease.

Cellectar Biosciences

Post in 2014
Cellectar Biosciences is a clinical-stage biopharmaceutical company dedicated to discovering, developing, and commercializing cancer treatments. It specializes in phospholipid drug conjugates (PDCs), with CLR 131 being its lead candidate in Phase II trials for relapsed or refractory multiple myeloma and other B-cell malignancies.

Silatronix

Venture Round in 2013
Silatronix, Inc. is a company that specializes in the development of organosilicon compounds and formulations for energy storage applications. Founded in 2007 and based in Madison, Wisconsin, Silatronix focuses on creating organosilicon electrolytes designed for use in rechargeable and non-rechargeable lithium-ion batteries, as well as in ultracapacitors. The company's patented materials enhance battery performance by extending cell life, increasing capacity, and enabling operation across a broader temperature range. These advancements allow for the safe use of higher charge voltages, making Silatronix's products suitable for various applications, including portable electronics, electric vehicles, and large-scale energy storage systems.

Aerpio Pharmaceuticals

Series A in 2013
Aerpio Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company based in Cincinnati, Ohio, focused on developing innovative compounds for the treatment of ocular diseases and diabetic complications. The company's lead candidate, razuprotafib, is a small molecule activator of the Tie2 pathway that has completed a Phase IIb clinical trial for diabetic retinopathy. Additionally, Aerpio is advancing ARP-1536, a humanized monoclonal antibody in preclinical development for diabetic vascular complications, and GB004, a selective stabilizer of hypoxia-inducible factor-1 alpha, currently undergoing a Phase 1b trial for inflammatory bowel disease. Furthermore, the company is developing a bispecific antibody for the treatment of wet age-related macular degeneration and diabetic macular edema. Aerpio has also partnered with Quantum Leap Healthcare Collaborative to evaluate razuprotafib's potential in treating acute respiratory distress syndrome in COVID-19 patients. Founded in 2011, Aerpio Pharmaceuticals aims for rapid development of its promising therapies.

Tissue Regeneration Systems

Series B in 2013
Tissue Regeneration Systems Inc. is a start-up medical device company focused on skeletal reconstruction and bone regeneration technologies. Founded in 2005 and headquartered in Plymouth, Michigan, with an additional office in Kirkland, Washington, the company has licensed its innovative technology platform from the Universities of Michigan and Wisconsin. This platform is designed for a variety of clinical applications, including craniomaxillofacial surgery, orthopedic surgery, spine fusion surgery, and bone growth factor delivery. The company has conducted extensive research, including large animal studies that yielded promising long-term results. It has developed initial product offerings, completed necessary bench and animal testing, and submitted regulatory filings to the FDA. Upon receiving approvals, Tissue Regeneration Systems aims to commercialize its products in the United States and anticipates generating significant revenues within the next few years.

Nextt

Seed Round in 2013
Nextt, Inc. is a technology company based in Madison, Wisconsin, specializing in the development of web and mobile application software. The company's primary focus is on creating a private network that facilitates social planning among close friends, enabling them to connect online and organize offline activities. Nextt simplifies the process of sharing ideas and coordinating plans, allowing users to manage the details such as participants, activities, timing, and locations in a private setting. By prioritizing quality face-to-face interactions, Nextt aims to help individuals enhance their social lives and make more meaningful connections.

UpTo

Series A in 2013
UpTo, Inc. is a developer of a social calendar application that enhances users' ability to manage and share events seamlessly. Founded in 2011 and based in Detroit, Michigan, UpTo offers a platform that allows organizations to publish their calendars and connect privately with friends, family, and colleagues. Users can follow various event streams, prioritize important events, and synchronize their calendars with popular services such as Google Calendar and Outlook. The application also enables users to add and manage events effortlessly, providing a clutter-free view of upcoming activities. With its focus on interactivity and customization, UpTo aims to simplify event sharing and accessibility for businesses and individuals alike.

Akebia Therapeutics

Series C in 2013
Akebia Therapeutics is a biopharmaceutical company focused on developing and commercializing therapies for kidney disease. Its lead product is Auryxia, a ferric citrate used to control serum phosphorus in adult patients with chronic kidney disease on dialysis or with hyperphosphatemia, and vadadustat, an oral hypoxia-inducible factor prolyl hydroxylase inhibitor studied for treating anemia due to CKD in both dialysis-dependent and non-dialysis patients. The company collaborates with Otsuka Pharmaceutical for vadadustat in the United States, European Union, Russia, China, Australia, Canada, the Middle East, and other regions; with Mitsubishi Tanabe Pharma for the development and commercialization of vadadustat in Japan and other Asian countries; and with Janssen Pharmaceutica for worldwide development and commercialization of HIF-prolyl hydroxylase-targeted compounds. Akebia was founded in 2007 and is headquartered in Cambridge, Massachusetts.

NetSocket

Series B in 2013
NetSocket is a company focused on virtualized, software-defined networking, established in 2006 and headquartered in Plano, Texas. Its primary product, the Netsocket Virtual Network (NVN), delivers on the promises of Software-Defined Networking (SDN) and Network Functions Virtualization (NFV) through advanced automation applications that operate on a fully virtualized network infrastructure. In addition to NVN, NetSocket provides network-service assurance for unified communications, exemplified by its creation of the Cloud Experience Manager, which enhances the management of Microsoft Lync unified communication services.

BlueWillow Biologics

Series C in 2012
BlueWillow Biologics, Inc. is a clinical-stage biopharmaceutical company based in Ann Arbor, Michigan, specializing in the development of intranasal vaccines and anti-infective products utilizing patented nanotechnology. Founded as a spin-off from the University of Michigan in 1999, the company focuses on creating vaccines that provide mucosal immunity against respiratory and sexually transmitted diseases, including pertussis, pandemic influenza, anthrax, HSV2, chlamydia, and HIV. Its innovative NanoStat vaccine technology features an oil-in-water nanoemulsion that effectively incorporates and delivers multiple antigens while enhancing immune responses. In addition to its vaccine portfolio, BlueWillow Biologics offers NanoBio Protect, a nasal antiseptic solution. The company has established partnerships, including a licensing agreement with Merck for its adjuvant technology and a strategic alliance with Public Health England to further its mission in combating infectious diseases.

ReShape Lifesciences

Series C in 2012
ReShape Lifesciences is a medical device company focused on technologies to treat obesity and metabolic diseases. The company develops and commercializes products designed to provide less invasive options for weight loss, including the Lap-Band System, an adjustable gastric banding device for long-term obesity management. It also has the ReShape Vest system, an investigational laparoscopically implanted device that wraps around the stomach and is designed to support weight loss without permanent changes to the GI tract; the Vest is primarily marketed outside the United States. The company traces its origins to EnteroMedics and adopted the ReShape Lifesciences name in 2017. It is headquartered in San Clemente, California, and operates in multiple international markets.

NeuWave Medical

Series B in 2012
Founded in 2004 and based in Madison, Wisconsin, NeuWave Medical develops high-quality, minimally invasive medical devices that use energy to treat various serious health conditions. Led by founders who are both engineers and physician-scientists, the company aims to create clinically relevant and effective solutions, making its products the preferred choice for leading healthcare providers worldwide.

Juventas Therapeutics

Series B in 2012
Juventas Therapeutics is a privately-held clinical-stage biotechnology company developing regenerative therapies. Founded in 2007, it focuses on treating life-threatening diseases using non-viral gene therapies that activate natural processes to repair the body.

Aerpio Pharmaceuticals

Venture Round in 2012
Aerpio Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company based in Cincinnati, Ohio, focused on developing innovative compounds for the treatment of ocular diseases and diabetic complications. The company's lead candidate, razuprotafib, is a small molecule activator of the Tie2 pathway that has completed a Phase IIb clinical trial for diabetic retinopathy. Additionally, Aerpio is advancing ARP-1536, a humanized monoclonal antibody in preclinical development for diabetic vascular complications, and GB004, a selective stabilizer of hypoxia-inducible factor-1 alpha, currently undergoing a Phase 1b trial for inflammatory bowel disease. Furthermore, the company is developing a bispecific antibody for the treatment of wet age-related macular degeneration and diabetic macular edema. Aerpio has also partnered with Quantum Leap Healthcare Collaborative to evaluate razuprotafib's potential in treating acute respiratory distress syndrome in COVID-19 patients. Founded in 2011, Aerpio Pharmaceuticals aims for rapid development of its promising therapies.

Akebia Therapeutics

Series B in 2011
Akebia Therapeutics is a biopharmaceutical company focused on developing and commercializing therapies for kidney disease. Its lead product is Auryxia, a ferric citrate used to control serum phosphorus in adult patients with chronic kidney disease on dialysis or with hyperphosphatemia, and vadadustat, an oral hypoxia-inducible factor prolyl hydroxylase inhibitor studied for treating anemia due to CKD in both dialysis-dependent and non-dialysis patients. The company collaborates with Otsuka Pharmaceutical for vadadustat in the United States, European Union, Russia, China, Australia, Canada, the Middle East, and other regions; with Mitsubishi Tanabe Pharma for the development and commercialization of vadadustat in Japan and other Asian countries; and with Janssen Pharmaceutica for worldwide development and commercialization of HIF-prolyl hydroxylase-targeted compounds. Akebia was founded in 2007 and is headquartered in Cambridge, Massachusetts.

Euthymics Bioscience

Series A in 2011
Euthymics Bioscience, Inc. is a clinical-stage biopharmaceutical company based in Cambridge, Massachusetts, focused on developing innovative therapeutics targeting central nervous system disorders. Founded in 2009, the company aims to address significant unmet medical needs, particularly in the areas of major depressive disorder (MDD) and alcohol use disorder (AUD). Euthymics is developing EB-1010, a treatment for depression designed to enhance efficacy while minimizing common side effects associated with standard antidepressants, such as weight gain and sexual dysfunction. Additionally, the company is working on therapies for smoking cessation and impulsivity, targeting patients experiencing withdrawal symptoms and cravings. Through its research and development efforts, Euthymics Bioscience seeks to improve the quality of life for individuals struggling with these challenging conditions.

Celleration

Series E in 2011
Celleration Inc. is a privately held medical device company based in Eden Prairie, Minnesota, founded in 1999. The company specializes in developing and commercializing therapeutic ultrasound technologies for wound care. Its flagship product, the MIST Therapy System, utilizes low-frequency ultrasound delivered through a saline mist to promote healing in wounds. This innovative approach allows ultrasound energy to penetrate beyond the surface of the wound, stimulating cellular activity and enhancing the healing process. Since receiving FDA clearance in 2005, Celleration has established a strong presence in the U.S. market, with over 1 million MIST Therapy treatments performed, benefiting more than 65,000 patients across numerous healthcare facilities. Celleration's commitment to advancing wound care technology has resulted in significant clinical and economic benefits, reinforcing its role in the medical community.

Mithridion

Series C in 2011
Mithridion, Inc. is a biopharmaceutical company based in Madison, Wisconsin, that specializes in discovering and developing small molecule drugs aimed at addressing unmet medical needs associated with central nervous system disorders. Founded in 2004, the company focuses primarily on serious chronic neurodegenerative diseases, including Alzheimer's disease and schizophrenia. Its drug portfolio features candidates designed for treating cognitive impairments and blocking disease processes in conditions such as Progressive Supranuclear Palsy. Notable projects include MCD-386CR, which targets neurodegenerative diseases, and MCD-386/glycopyrrolate, aimed at preventing Alzheimer's in genetically defined presymptomatic mutation carriers. Additionally, the company is developing MI-08-016/035 for common neurodegenerative diseases and MI-10-022 to address significant unmet needs in schizophrenia.

HistoSonics

Series A in 2010
HistoSonics develops a non-invasive tumor ablation system called Edison. This platform uses pulsed sound energy to destroy targeted tissues at the sub-cellular level without requiring incisions or needles.

Akebia Therapeutics

Series A in 2009
Akebia Therapeutics is a biopharmaceutical company focused on developing and commercializing therapies for kidney disease. Its lead product is Auryxia, a ferric citrate used to control serum phosphorus in adult patients with chronic kidney disease on dialysis or with hyperphosphatemia, and vadadustat, an oral hypoxia-inducible factor prolyl hydroxylase inhibitor studied for treating anemia due to CKD in both dialysis-dependent and non-dialysis patients. The company collaborates with Otsuka Pharmaceutical for vadadustat in the United States, European Union, Russia, China, Australia, Canada, the Middle East, and other regions; with Mitsubishi Tanabe Pharma for the development and commercialization of vadadustat in Japan and other Asian countries; and with Janssen Pharmaceutica for worldwide development and commercialization of HIF-prolyl hydroxylase-targeted compounds. Akebia was founded in 2007 and is headquartered in Cambridge, Massachusetts.

BlueWillow Biologics

Series B in 2009
BlueWillow Biologics, Inc. is a clinical-stage biopharmaceutical company based in Ann Arbor, Michigan, specializing in the development of intranasal vaccines and anti-infective products utilizing patented nanotechnology. Founded as a spin-off from the University of Michigan in 1999, the company focuses on creating vaccines that provide mucosal immunity against respiratory and sexually transmitted diseases, including pertussis, pandemic influenza, anthrax, HSV2, chlamydia, and HIV. Its innovative NanoStat vaccine technology features an oil-in-water nanoemulsion that effectively incorporates and delivers multiple antigens while enhancing immune responses. In addition to its vaccine portfolio, BlueWillow Biologics offers NanoBio Protect, a nasal antiseptic solution. The company has established partnerships, including a licensing agreement with Merck for its adjuvant technology and a strategic alliance with Public Health England to further its mission in combating infectious diseases.

ProCertus BioPharm

Venture Round in 2009
ProCertus BioPharm, Inc., an oncology-based pharmaceutical company, develops therapeutics to protect cancer patients from the side effects of radiotherapy and chemotherapy in the United States. Its products include ProDermaCel that protects cancer patients from chemotherapy- and radiotherapy-induced alopecia; DermX, which prevents radiotherapy-induced dermatitis; and OralX that provides protection against chemotherapy- and radiotherapy- induced oral mucositis. ProCertus BioPharm, Inc. was founded in 1997 and is based in Madison, Wisconsin.

LensX Lasers

Series B in 2009
LensX Lasers is a developer of surgical lasers used for the reparation of cataracts.

Mithridion

Series B in 2009
Mithridion, Inc. is a biopharmaceutical company based in Madison, Wisconsin, that specializes in discovering and developing small molecule drugs aimed at addressing unmet medical needs associated with central nervous system disorders. Founded in 2004, the company focuses primarily on serious chronic neurodegenerative diseases, including Alzheimer's disease and schizophrenia. Its drug portfolio features candidates designed for treating cognitive impairments and blocking disease processes in conditions such as Progressive Supranuclear Palsy. Notable projects include MCD-386CR, which targets neurodegenerative diseases, and MCD-386/glycopyrrolate, aimed at preventing Alzheimer's in genetically defined presymptomatic mutation carriers. Additionally, the company is developing MI-08-016/035 for common neurodegenerative diseases and MI-10-022 to address significant unmet needs in schizophrenia.

Silatronix

Seed Round in 2008
Silatronix, Inc. is a company that specializes in the development of organosilicon compounds and formulations for energy storage applications. Founded in 2007 and based in Madison, Wisconsin, Silatronix focuses on creating organosilicon electrolytes designed for use in rechargeable and non-rechargeable lithium-ion batteries, as well as in ultracapacitors. The company's patented materials enhance battery performance by extending cell life, increasing capacity, and enabling operation across a broader temperature range. These advancements allow for the safe use of higher charge voltages, making Silatronix's products suitable for various applications, including portable electronics, electric vehicles, and large-scale energy storage systems.

Tissue Regeneration Systems

Series A in 2008
Tissue Regeneration Systems Inc. is a start-up medical device company focused on skeletal reconstruction and bone regeneration technologies. Founded in 2005 and headquartered in Plymouth, Michigan, with an additional office in Kirkland, Washington, the company has licensed its innovative technology platform from the Universities of Michigan and Wisconsin. This platform is designed for a variety of clinical applications, including craniomaxillofacial surgery, orthopedic surgery, spine fusion surgery, and bone growth factor delivery. The company has conducted extensive research, including large animal studies that yielded promising long-term results. It has developed initial product offerings, completed necessary bench and animal testing, and submitted regulatory filings to the FDA. Upon receiving approvals, Tissue Regeneration Systems aims to commercialize its products in the United States and anticipates generating significant revenues within the next few years.

NERITES

Series A in 2008
At Nerites, they combine world class technology with a management team that has a proven track record of bringing technical innovation to market. The company was founded in 2004 to commercialize a new generation of synthetic biomaterials that can enhance natural tissue repair, reduce complications from traditional devices, and degrade safely when they are no longer needed.

NeuWave Medical

Series A in 2008
Founded in 2004 and based in Madison, Wisconsin, NeuWave Medical develops high-quality, minimally invasive medical devices that use energy to treat various serious health conditions. Led by founders who are both engineers and physician-scientists, the company aims to create clinically relevant and effective solutions, making its products the preferred choice for leading healthcare providers worldwide.

Pattern Insight

Series A in 2008
Pattern Insight is a technology company specializing in advanced data mining and real-time analysis of engineering and IT data. It offers two main products: Log Insight and Code Insight. Log Insight is a Big Data analytics and log management platform designed to analyze large volumes of machine-generated data in real time, facilitating operational analytics in both traditional data centers and cloud environments. Code Insight focuses on identifying and eliminating known defects in source code before software is released, helping to enhance software quality. The company serves notable clients such as Cisco, Intel, Qualcomm, Tellabs, and Motorola, providing tools that enable software engineering teams to discover patterns and gain insights from system data, thereby significantly reducing software defects.

Cellectar Biosciences

Venture Round in 2008
Cellectar Biosciences is a clinical-stage biopharmaceutical company dedicated to discovering, developing, and commercializing cancer treatments. It specializes in phospholipid drug conjugates (PDCs), with CLR 131 being its lead candidate in Phase II trials for relapsed or refractory multiple myeloma and other B-cell malignancies.

Deltanoid Pharmaceuticals

Series B in 2007
Deltanoid Pharmaceuticals, Inc. is a biopharmaceutical company based in Madison, Wisconsin, dedicated to the research, development, and commercialization of innovative therapies for various human diseases. Founded in 1999, the company specializes in vitamin D analogs and other compounds, primarily focusing on treatments for renal diseases, osteoporosis, and skin conditions. Notably, Deltanoid's lead product, DP001, targets secondary hyperparathyroidism in patients with chronic kidney disease undergoing hemodialysis, while another product, DP006, is aimed at treating acne. The company leverages raw university inventions and has established partnerships to advance its drug development initiatives, including a collaboration with Novadiol, Inc. for the development of a vitamin D therapy. Deltanoid's mission is to enhance health outcomes by unlocking the potential of vitamin D receptor-based therapies.

Virent Energy Systems

Series B in 2007
Virent Energy Systems, Inc. specializes in producing hydrocarbon chemicals and fuels from plant sugars through its proprietary BioForming technology. This innovative process converts plant-based feedstocks, such as beet sugar, sugar cane, corn starch, and various cellulosic materials, into a diverse range of hydrocarbon products that mirror those derived from petroleum, including gasoline, diesel, and jet fuel, as well as essential chemicals for plastics and fibers. The company also manufactures specialty products like bio-paraxylene, bio-toluene, and bio-benzene, along with aromatic solvents used across multiple industries, including paints, textiles, and automotive applications. Founded in 2002 and headquartered in Madison, Wisconsin, Virent Energy Systems has established strategic partnerships with industry leaders, enhancing its capabilities and market reach. As of late 2016, it operates as a subsidiary of Marathon Petroleum Corporation.

ProCertus BioPharm

Series A in 2007
ProCertus BioPharm, Inc., an oncology-based pharmaceutical company, develops therapeutics to protect cancer patients from the side effects of radiotherapy and chemotherapy in the United States. Its products include ProDermaCel that protects cancer patients from chemotherapy- and radiotherapy-induced alopecia; DermX, which prevents radiotherapy-induced dermatitis; and OralX that provides protection against chemotherapy- and radiotherapy- induced oral mucositis. ProCertus BioPharm, Inc. was founded in 1997 and is based in Madison, Wisconsin.

Incept BioSystems

Series A in 2007
Incept BioSystems develops innovative microscale technologies aimed at enhancing the treatment of infertility for fertility specialists. The company's primary offering is the System for Microfluidic Assisted Reproductive Technology (SMART) platform, which significantly improves the in vitro manipulation, performance, and viability of high-value cells, including human embryos. By providing precise control over in vitro cell culture environments, Incept BioSystems addresses the challenges associated with the developmental growth and viability of embryos outside the human body. This advanced technology empowers fertility specialists to offer patients new hope in their journey to start families.

Mithridion

Series A in 2007
Mithridion, Inc. is a biopharmaceutical company based in Madison, Wisconsin, that specializes in discovering and developing small molecule drugs aimed at addressing unmet medical needs associated with central nervous system disorders. Founded in 2004, the company focuses primarily on serious chronic neurodegenerative diseases, including Alzheimer's disease and schizophrenia. Its drug portfolio features candidates designed for treating cognitive impairments and blocking disease processes in conditions such as Progressive Supranuclear Palsy. Notable projects include MCD-386CR, which targets neurodegenerative diseases, and MCD-386/glycopyrrolate, aimed at preventing Alzheimer's in genetically defined presymptomatic mutation carriers. Additionally, the company is developing MI-08-016/035 for common neurodegenerative diseases and MI-10-022 to address significant unmet needs in schizophrenia.

Virent Energy Systems

Series A in 2006
Virent Energy Systems, Inc. specializes in producing hydrocarbon chemicals and fuels from plant sugars through its proprietary BioForming technology. This innovative process converts plant-based feedstocks, such as beet sugar, sugar cane, corn starch, and various cellulosic materials, into a diverse range of hydrocarbon products that mirror those derived from petroleum, including gasoline, diesel, and jet fuel, as well as essential chemicals for plastics and fibers. The company also manufactures specialty products like bio-paraxylene, bio-toluene, and bio-benzene, along with aromatic solvents used across multiple industries, including paints, textiles, and automotive applications. Founded in 2002 and headquartered in Madison, Wisconsin, Virent Energy Systems has established strategic partnerships with industry leaders, enhancing its capabilities and market reach. As of late 2016, it operates as a subsidiary of Marathon Petroleum Corporation.

Chromatin

Venture Round in 2006
Chromatin is a biotech company focused on developing and marketing innovative technologies and products across agricultural, energy, chemical, nutritional, and pharmaceutical sectors. The company specializes in hybrid, drought-tolerant sorghum seeds, utilizing advanced breeding methodologies to create next-generation sorghum that meets the rising demand for sustainable agricultural practices. By combining diverse sorghum varieties, Chromatin produces seeds that can thrive on more than 80% of the world's agricultural land, supporting farmers in optimizing crop production for both traditional agriculture and bio-industrial applications. The company aims to address key societal challenges, enhancing agricultural productivity and contributing to renewable energy resources.

Zystor

Series A in 2004
ZyStor Therapeutics, Inc. is a privately-held biotechnology company focused on developing enzyme replacement therapies for lysosomal storage diseases. The company specializes in creating innovative replacement technologies that enhance the delivery of therapeutics designed to substitute for missing lysosomal enzymes. These therapies aim to address the needs of patients suffering from genetic disorders characterized by lysosomal storage dysfunction.

Roche NimbleGen

Series F in 2004
Roche NimbleGen is a biotechnology company headquartered in Madison, Wisconsin, that specializes in providing products and services for the life science research market. The company offers a range of solutions including the SeqCap EZ system, which enhances exome enrichment in a single test tube, as well as various library construction kits and reagents. Roche NimbleGen's SeqCap Epi system focuses on DNA methylation assessment, providing tools for single-base resolution analysis. The company utilizes its proprietary Maskless Array Synthesis technology to manufacture high-density DNA microarrays, improving the quality and yield of DNA sequencing data. Additionally, Roche NimbleGen offers software tools such as SignalMap for genomic data visualization and NimbleDesign for library design, alongside comprehensive online technical support. Established in 1999, Roche NimbleGen operates as a subsidiary of Roche Holding AG, emphasizing research and innovation in genomic technologies.

Roche NimbleGen

Series D in 2003
Roche NimbleGen is a biotechnology company headquartered in Madison, Wisconsin, that specializes in providing products and services for the life science research market. The company offers a range of solutions including the SeqCap EZ system, which enhances exome enrichment in a single test tube, as well as various library construction kits and reagents. Roche NimbleGen's SeqCap Epi system focuses on DNA methylation assessment, providing tools for single-base resolution analysis. The company utilizes its proprietary Maskless Array Synthesis technology to manufacture high-density DNA microarrays, improving the quality and yield of DNA sequencing data. Additionally, Roche NimbleGen offers software tools such as SignalMap for genomic data visualization and NimbleDesign for library design, alongside comprehensive online technical support. Established in 1999, Roche NimbleGen operates as a subsidiary of Roche Holding AG, emphasizing research and innovation in genomic technologies.

Chromatin

Series A in 2002
Chromatin is a biotech company focused on developing and marketing innovative technologies and products across agricultural, energy, chemical, nutritional, and pharmaceutical sectors. The company specializes in hybrid, drought-tolerant sorghum seeds, utilizing advanced breeding methodologies to create next-generation sorghum that meets the rising demand for sustainable agricultural practices. By combining diverse sorghum varieties, Chromatin produces seeds that can thrive on more than 80% of the world's agricultural land, supporting farmers in optimizing crop production for both traditional agriculture and bio-industrial applications. The company aims to address key societal challenges, enhancing agricultural productivity and contributing to renewable energy resources.

InterSymbol Communications

Series A in 2002
Intersymbol Communications, Inc. specializes in the development and manufacturing of high-speed physical layer components designed for next-generation broadband networking systems. The company focuses on advanced electronic dispersion compensation solutions and creates high-speed optical receiver integrated circuits for long-haul and metro optical networks. Their innovative products enhance bandwidth and extend reach while reducing power consumption, leading to significant cost savings for network providers during deployment. By incorporating custom signal processing techniques and specialized architectures, Intersymbol Communications addresses the evolving demands of modern optical data transmission.

Celleration

Series B in 2002
Celleration Inc. is a privately held medical device company based in Eden Prairie, Minnesota, founded in 1999. The company specializes in developing and commercializing therapeutic ultrasound technologies for wound care. Its flagship product, the MIST Therapy System, utilizes low-frequency ultrasound delivered through a saline mist to promote healing in wounds. This innovative approach allows ultrasound energy to penetrate beyond the surface of the wound, stimulating cellular activity and enhancing the healing process. Since receiving FDA clearance in 2005, Celleration has established a strong presence in the U.S. market, with over 1 million MIST Therapy treatments performed, benefiting more than 65,000 patients across numerous healthcare facilities. Celleration's commitment to advancing wound care technology has resulted in significant clinical and economic benefits, reinforcing its role in the medical community.

Roche NimbleGen

Series B in 2001
Roche NimbleGen is a biotechnology company headquartered in Madison, Wisconsin, that specializes in providing products and services for the life science research market. The company offers a range of solutions including the SeqCap EZ system, which enhances exome enrichment in a single test tube, as well as various library construction kits and reagents. Roche NimbleGen's SeqCap Epi system focuses on DNA methylation assessment, providing tools for single-base resolution analysis. The company utilizes its proprietary Maskless Array Synthesis technology to manufacture high-density DNA microarrays, improving the quality and yield of DNA sequencing data. Additionally, Roche NimbleGen offers software tools such as SignalMap for genomic data visualization and NimbleDesign for library design, alongside comprehensive online technical support. Established in 1999, Roche NimbleGen operates as a subsidiary of Roche Holding AG, emphasizing research and innovation in genomic technologies.

Corona Optical Systems

Series A in 2001
Corona Optical Systems is a Midwest-based high-technology company headquartered in Lombard, Illinois, with additional facilities in Eau Claire, Wisconsin, and San Jose, California. Established in February 2000, the company specializes in the development and manufacture of high-speed optoelectronic components and subsystems designed for carrier-class equipment. Corona's product offerings include parallel optical modules that are essential for switching and routing equipment, positioning the company as a key player in the optoelectronics sector. As a privately held entity, Corona has successfully secured venture capital funding to support its growth and innovation in the industry.

IntraLase

Venture Round in 2000
IntraLase Corporation is a leader in the first step of LASIK surgery, the most common means of surgical vision correction. They design, develop and market a laser, related software and disposable devices used to create a cut of tissue across the cornea of a patient’s eye, or a corneal flap, which is the first step in LASIK surgery. Their advanced laser technology improves the safety, precision and visual acuity of LASIK surgery by providing a computer-controlled laser solution as an alternative to the traditional method of creating the corneal flap using a hand-held mechanical, metal-bladed device called a microkeratome. They believe their product offering will become the new standard of care for corneal flap creation. As of April 2, 2007, IntraLase Corp. was acquired by Advanced Medical Optics Inc.

SoftSwitching Technologies

Series B in 2000
SoftSwitching Technologies specializes in power quality and monitoring solutions tailored for industries such as semiconductor, food, beverage, and automotive. The company provides a comprehensive range of products, including battery-free DySC systems, intelligent I-Sense sensors that accurately detect and measure the duration of voltage sags, and a unique global notification network called Grid Alert, which reports power events. These products are designed to identify and rectify brief power disruptions, enhancing operational uptime and efficiency in manufacturing processes. By offering affordable and scalable solutions, SoftSwitching Technologies aims to improve power management for its clients across various sectors.

Gala Biotech

Venture Round in 2000
Gala Biotech, established in 1996 and based in Middleton, Wisconsin, is a biotechnology company specializing in gene insertion and expression technologies. Originally founded to produce pharmaceutical proteins in the milk of transgenic cows, Gala has evolved to focus on its proprietary GPEx® technology, which enables the rapid creation of stable, high-expressing mammalian cell lines for various gene products. With a team of over 40 employees, including 16 PhD scientists, Gala provides essential capabilities in molecular biology, cell line development, and biopharmaceutical manufacturing. The company plays a critical role in helping biotech researchers discover and characterize new therapeutic proteins by accelerating their development through GPEx® technology. To support this mission, Gala has established a state-of-the-art, 43,000 square-foot facility dedicated to GPEx®-based cell line development and compliant protein production, addressing the challenges of production support for clinical development.

Alfalight

Series A in 2000
Alfalight is a designer and manufacturer of high-power diode lasers, serving the industrial, defense, and telecommunications sectors. The company specializes in a range of laser and electro-optical systems, including precision lasers that operate in the short-wave infrared, near infrared, and visible spectra. Alfalight's technology is distinguished by its innovative aluminum-free active region (ALFA) laser structures, which allow for the production of laser diodes that exhibit exceptional reliability and efficiency, positioning the company as a leader in the laser technology market.

TomoTherapy

Series A in 1999
TomoTherapy is a developer and manufacturer of advanced radiation therapy solutions designed for cancer treatment. Its innovative ring gantry-based platform integrates CT imaging with conformal radiation therapy, allowing for precise and efficient delivery of radiation while minimizing exposure to surrounding healthy tissue. The company offers a range of products, including the Hi·Art treatment system, which has delivered over three million CT-guided, helical intensity-modulated radiation therapy (IMRT) fractions, and the TomoHD treatment system, which enables broader patient treatment with a single device. Additionally, TomoTherapy provides the TomoMobile relocatable radiation therapy solution to enhance access to advanced cancer care. With more than 350 systems in operation across 24 countries, TomoTherapy serves a diverse client base, including cancer care centers, government institutions, university research centers, and community hospitals.
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