Solas BioVentures

Investor type Venture Capital
Founders David Adair

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This summary is composed by our algorithm based on the analysis of the deals. If you think that some of this information is not accurate, please let us know about it and provide any supporting evidences if possible. Such cases will be analyzed by our ML-algorithm and implemented in our database, which will improve this summary.
Total investments 14
Average round size
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The average size of a deal this fund participated in
$17M
Portfolio companies 10
Rounds per year 1.75
Lead investments 4
Follow on index
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How often the fund supports its portfolio startups at next rounds
0.29
Exits 1
Key employees 4
Stages of investment
Early Stage Venture

Areas of investment

  • Health Care
  • Medical Device
  • Biotechnology
  • Medical
  • Manufacturing
Summary

In 2014 was created Solas BioVentures, which is appeared as VC. The fund was located in North America if to be more exact in United States. The main office of represented VC is situated in the Chattanooga.

The typical case for the fund is to invest in rounds with 3-4 participants. Despite the Solas BioVentures, startups are often financed by Delphi Ventures, Alloy Ventures, Tech Square Ventures. The meaningful sponsors for the fund in investment in the same round are Tech Square Ventures, Medtronic, Delphi Ventures. In the next rounds fund is usually obtained by William A. Hawkins III, Tech Square Ventures, Piedmont Capital Partners.

For fund there is a match between the country of its foundation and the country of its the most frequent investments - United States. The fund has no specific favorite in a number of founders of portfolio startups. Among the most popular fund investment industries, there are Biopharma, Health Care. Among the most popular portfolio startups of the fund, we may highlight Arrivo BioVentures LLC, CardioNXT, AEGEA Medical. Besides, a startup requires to be at the age of 2-3 years to receive the investment from the fund.

We also calculated 4 valuable employees in our database.

The top activity for fund was in 2016. The real fund results show that this VC is 5 percentage points more often commits exit comparing to other companies. The usual things for fund are deals in the range of 10 - 50 millions dollars. The fund is constantly included in less than 2 investment rounds annually. When the investment is from Solas BioVentures the average startup value is 50-100 millions dollars.

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These funds have a tendency to invest in the following rounds after Solas BioVentures:

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Notable deals

CompanyIndustryRound SizeDateInvestorsLocation

Pathware

Computer
Information Technology
Software
$7M20 Apr 2022 Seattle, Washington, United States

Cryosa

Biotechnology
Clinical Trials
Health Care
Medical Device
$21M23 Sep 2021 Minnesota, United States

Francis Medical

Medical
$55M15 Sep 2021 Minnesota, United States

InterShunt

Health Care
Medical
Medical Device
$3M11 Jan 2021 City of Saint Louis, Missouri, United States

Knopp Biosciences

Biotechnology
Health Care
Health Diagnostics
Medical
$14M11 Nov 2020 Pittsburgh, Pennsylvania, United States

BioStable

Biotechnology
Health Care
Health Diagnostics
Medical Device
25 Feb 2020 Austin, Texas, United States

AEGEA Medical

Biotechnology
Health Care
Manufacturing
Medical Device
$17M12 Nov 2018 Redwood City, California, United States

AEGEA Medical

Biotechnology
Health Care
Manufacturing
Medical Device
$40M02 Jan 2018 Redwood City, California, United States

CardioNXT

Biotechnology
Health Care
Medical
Medical Device
$2M01 Jun 2017 Denver, Colorado, United States
News
Cryosa Announces $21.5M Series B Funding

– Medical device startup Cryosa from Singapore completed its Series B funding round, raising $21.5m.
РThe round was led by life sciences firm Solas BioVentures, with additional funding from Series A investors which include life sciences firm Sant̩ Ventures, global technology and med-tech company HOYA Corporation, and additional investors.
– The funding will be used to continue first-in-human clinical trials.

Francis Medical Raises $55M in Series B Equity Funding

– Francis Medical, a Minneapolis MI-based medical device company, raised $55M in Series B equity funding.
– The round was led by Solas BioVentures with participation from Arboretum Ventures, Coloplast A/S, H2Oey Ventures and Tonkawa.
– The company intends to use the funds to fund for the development of its proprietary prostate cancer treatment through FDA 510(k) approval, which includes a pivotal clinical study (VAPOR 2) for the management of prostate cancer.

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