Andy Ambrose

🧬 This week's Austin Bio + Health Roundup highlights significant data trends, my stance on covering funding announcements, new partnerships, and action across the Texas Bio Triangle. 🧬 💰 Funding: The Way I Plan to Cover Funding Announcements You may have seen reports of a local Bio & Health startup’s funding round through an SEC report filing. While some outlets have covered this, my position is not to. I prefer to support our builders directly rather than trolling the filings for scoops. There is plenty of real investigative journalism that our city would be well served by if that is where they focused. Remember I am not a journalist and I am not the media. When the company is ready to announce their round officially, I’ll gladly shout it to the rooftops. 📊 Data Peter Walker at Carta reports that in 2017, Biopharma and Medical Devices captured just under 10% of all VC dollars. By 2023, this figure rose to 17.7%, and in Q1 2024, it reached 24%. The overarching tailwinds favor our sector and region with trends towards Bio & Health and the physical & digital intersection. Energy and hardware, two other sector blossoming in Central Texas, also saw similar share gains. 🤝 M&A and Partnerships Sensi.AI, a 24/7 senior care intelligence agent, is partnering with Caring Senior Service to deploy SensiAI’s platform in Caring’s 50 locations across the US. This partnership allows seniors a better opportunity to age gracefully in their homes. 🚩 Texas Bio Triangle BioMedSA is hosting an event called Women in Bioscience, Thursday June 20th. It’s designed to connect and empower women in the bioscience industry across Central Texas, and features Randi Brosterman Hutchens discussing "Building your Personal Board." Find the link to the event in the comments. Houston-based Lokum, a staffing solution to connect clinicians and clinical staff to health care facilities, has raised a $700K pre-seed round. Congrats Ayoade (Joy) Ademuyewo on the raise. What’s Next? #AustinNext #LifeSciences #Healthcare #Biotechnology

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📣 Last Call: Our webinar on tech startup fundraising is tomorrow! Tune in to learn how to land your pitch with financials and forecasts. Forecastr's Jeff Erickson will share: ✅ Expert insight on fundraising strategies ✅ How to craft compelling financial projections that resonate with investors ✅ How to navigate investor dialogue and address key concerns 🔗Register for FREE: https://fndrs.net/3UsES83 #venturecapital #startupfunding #tech #startups

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Last week, mid-market companies were trading hands faster than picks at the NFL draft. 10 notable MM PE deals from the past week: ➡️ Incline Equity Partners invested in VMG Health, a TX-based compliance, strategy, and transaction advisory firm serving the healthcare industry. ➡️ Serent Capital acquired Medical Informatics Engineering, Inc., a provider of healthcare IT software for the occupational health market. ➡️ Celebrity Coaches, LLC, a TN-based portfolio company of Allied Industrial Partners, acquired Moonstruck Leasing, an entertainment coach leasing company. ➡️ Granite Creek Capital Partners, L.L.C. in partnership with Boathouse Capital, invested in DCG, a full-service strategic comms firm serving federal government clients. ➡️ Apax Digital invested in IANS, a MA-based provider of research and advisory services for the infosec market. ➡️ The Stephens Group, LLC partnered with VisionSafe Corporation - EVAS, a HI-based provider of aircraft cockpit smoke displacement systems. ➡️ Gamut Capital Management is set to acquire DEX Imaging, a provider of managed print services across industries. ➡️ Century Park Capital Partners acquired Total Access Elevator, a CA-based provider of commercial elevator modernization, maintenance, and repair services. ➡️  Shoreline Equity Partners invested in Prime Meats LLC, a GA-based processor and distributor of proteins. ➡️ Family office CC Industries acquires Foremark Performance Chemicals, a producer of formaldehyde and derivatives for the petrochemicals industries. #PrivateEquity #MergersandAcquisitions #Acquisitions #PE #Acquisitions

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🧬 This week's Austin Bio + Health Roundup has acquisitions, funding, leader’s insights on national healthcare news, critical new infrastructure, and developments from across the Texas Bio Triangle. 🧬 🤝 M&A and Partnerships Subjectwell, a patient access marketplace connecting patients to clinical trials and treatments, was acquired by Windrose Health Investors.  This acquisition will also provide Subjectwell with additional capital for its next growth phase. 💰 Funding Thoughtful Automation, an AI company specializing in revenue-cycle management tools for healthcare providers, has announced its move to Austin and has secured $12.5M in funding. Congrats and welcome to Central Texas! 💡 Insights from Local Builders and Innovators Michelle Davey, Founder and CEO of Wheel, provided her commentary to FierceHealthcare on the recent exits from the virtual care market by major players Walmart and Optum. Michelle said, “It's not just about being big—it's about the platform that drives the care delivery itself - and how it's purpose-built to scale to mass adoption and repeat utilization." 🏗️ Infrastructure Dell Med is launching a Center for Rare Diseases, focusing on cutting-edge research and therapies. This initiative will support advances in diagnostics and boost awareness, providing critical assistance for patients and families dealing with rare conditions. 🚀 Launches, Expansions, and Milestones The co-founder of artist collaborative Meow Wolf is leaving to launch a new $15M wellness and spa experience in Austin. They are branding it as the “world’s first neuroscience-enabled spa,” bringing a new element to the Austin’s strength at the convergence of bio, health, and tech. 🚩 Texas Bio Triangle First Bight Ventures’ industrial biology accelerator, BioWell, is now seeking its first cohort of 10 companies, with applications due by May 15. The STRONG STAR Consortium has secured $17 million in DoD funding to address brain injuries, PTSD, and related conditions, which will launch 8 programs spanning detection, prevention, and treatment. As always, the news is as varied and dynamic as our region, let’s keep it up! What’s Next? #AustinNext #LifeSciences #Healthcare #Biotechnology

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Is your startup is considering a Series A round? Our founder Jeff Burkland explores the 7️⃣ critical factors to consider to ensure the best possible outcome. Burkland helps startups navigate critical fundraising milestones with expert guidance and strategic financial planning. Get in touch to learn more about how we can support your startup’s next investment round. https://lnkd.in/gQnCTaf3 #startups #venturecapital #seriesA #startupfinance

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13% of Venture GP's don't plan to raise another fund due to LP pullbacks and a tough fundraising environment. In 2024, Weraise Ventures is redefining how founders and GP's raise capital - if you're apart of the 87% of GP's actively fundraising, let's chat! #venture #capital #markets #vc #gp #lp #fundraising #business #crypto #fund #founder #startup

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We couldn’t be more excited to announce that Stream Financial Technologies is now set to launch in June and commencing our fundraising process on 4/24 at The Founders Chair event hosted by James Wong in Dallas, TX. Driven by a "what if" mentality, our founders envisioned a single platform to empower insurance distributors with best-in-class solutions to grow their businesses. Today, independent distributors struggle to manage fragmented technology options, lack cost-effective professional services to be competitive, and face both consolidation and regulatory pressures that threaten their success.  Stream’s platform is combining all the technology, marketing, recruiting, finance, and HR required to accelerate the growth of any level of distribution… to form the industry’s first Insurance Growth Organization. Building on acquired businesses with proven insurtech capabilities and leveraging an innovative revenue model to subsidize costs, there is now a more effective way to market and manage insurance distribution businesses. This is Stream - the unifying force transforming the insurance distribution landscape, empowering agencies of all sizes with professional technology and tech-enabled services. Visit www.StreamIGO.com to learn more. #thefounderschair

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As lenders to late and growth-stage companies, we're often asked: “What exactly do you look for in potential borrowers?" In my 30 years of experience working in the venture ecosystem, I’ve seen what qualifies some businesses to get the financing they need. Here is what we typically look for: ✔ Proven Business Model: Those with validated product-market fit, recurring revenue streams, and predictable cash flow are typically less risky and more likely to succeed in repaying their debt obligations. ✔ Stable and Diverse Customer Base: Borrowers with a stable and diverse customer base demonstrate a reduction in concentration risk and lower dependency on a single revenue source. ✔ Strong Management Team: At Runway, we look for entrepreneurs with a track record of success, industry expertise, and a clear ability to execute a business plan. A strong management team signals confidence to the lender that the business will be able to navigate challenges and drive business growth. ✔ Capital Efficiency: Startups that have effectively managed their capital resources, are clear on how the funding will be used, have minimized burn rate, and achieved meaningful milestones are strong candidates to utilize debt financing. ✔ Equity Backing: Previous equity financing by an established VC can provide additional validation of a company’s business model, market opportunity, and growth prospects. ✔ Exit Strategy: Those with a clear path to profitability and viable exit (such as through an initial public offering or strategic acquisition) provide assurance that the debt will be repaid in a timely manner. If you’re thinking about how to grow your business, and exploring debt as an option, keep this in mind!

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🚀 New Episode Alert: Investor Connect with Gary Forni, Chairman of CTAN 🚀 Join host Hall T. Martin for an insightful conversation with Gary Forni, the visionary Chairman of the Central Texas Angel Network (CTAN). With a storied career in technology and venture capital, Gary has been instrumental in shaping the startup ecosystem in Central Texas. 📅 Listen now: https://ow.ly/Po6Q50RBUJt 🔹 What to Expect: Gary's journey from Intel Corp to leading one of the most active angel groups in the U.S. An inside look at CTAN's investment strategy and how they're nurturing the next wave of disruptive tech startups. Expert advice on overcoming challenges in angel investing and adapting to economic changes. 📈 Under Gary's leadership, CTAN has invested over $129 million in 215 companies, driving innovation and economic growth. Learn how this network supports entrepreneurs with capital, mentoring, and more. 🎧 Tune in to "Investor Connect" for more expert insights into the investment landscape. Don’t miss it! #InvestorConnect #AngelInvesting #Startups #Innovation

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Mike Preuss, founder and CEO of Visible.vc, started his company in a venture studio...before venture studios were even a thing. Today, his platform serves founders with tools for fundraising, investor updates, and tracking KPI's, while simultaneously helping investors with their decision making. Listen below to hear why he chose not to go with VC, and instead used Lighter Capital to help him scale his platform. #entrepreneurship #bootstrapped #podcast https://lnkd.in/d9ccysUU

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Why choose between equity and debt when you can leverage both? We offer a hybrid financing model for SaaS founders. Start with our venture debt financing and explore our equity fund for continued capital and support. Learn about River SaaS Capital’s approach. https://lnkd.in/gvGUH_gY #HybridFinancing #SaaSFinancing #EquityFund

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🔥InScope co-founders🔥 Kelsey Gootnick, CPA and🔥 Mary Antony 🚀🌟Lightspeed Venture Partners leads $4.3M seed in automated financial reporting fintech InScope🚀🌟 🌟🌟InScope and Cowan / InScope co-founders Kelsey Gootnick and Mary Antony🌟🌟 🔥Major Investment Milestone: Lightspeed Venture Partners leading a $4.3 million seed round in InScope is a significant milestone, underscoring the immense potential of automated financial reporting fintech. 🔥Pioneering Leadership: Co-founders Kelsey Gootnick and Mary Antony's visionary leadership and innovative approach have attracted substantial investment and industry recognition. 🔥Empowering Financial Innovation: This funding will empower InScope to revolutionize financial reporting, making it more efficient, accurate, and accessible. 🔥Strategic Endorsement: Lightspeed Venture Partners' involvement highlights a strategic endorsement from one of the most respected names in venture capital, boosting InScope’s credibility. 🔥Driving Technological Advancement: The $4.3 million seed funding will fuel technological advancements, enabling InScope to further develop and refine its automated solutions. 🔥Strengthening Market Position: With this investment, InScope is well-positioned to strengthen its market presence and expand its reach within the fintech ecosystem. 🔥Innovative Solutions for Financial Industry: InScope’s commitment to innovation in financial reporting is set to transform industry standards, providing more reliable and timely financial insights. 🔥Building a Strong Foundation: The seed funding provides a solid foundation for InScope's growth, facilitating the recruitment of top talent and the expansion of its technology infrastructure. 🔥Inspiring Women Entrepreneurs: Co-founders Kelsey Gootnick and Mary Antony's success story serves as an inspiration for women entrepreneurs, demonstrating the impact of leadership and innovation. 🔥Catalyst for Change: This investment acts as a catalyst for change, propelling InScope towards becoming a leader in the automated financial reporting sector. ✅️Share Your Startup Story 🚀📲 https://lnkd.in/ggir3Qap ✅️visite our website🌐 https://lnkd.in/dad4nHP4 #InScope #LightspeedVenturePartners #SeedFunding #FintechInnovation #AutomatedReporting #StartupSuccess #WomenInTech #FinancialTechnology #InvestorConfidence #LeadershipInFintech #scoopearth

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Catch another episode of This Week in Startups where Upfront Managing Partner Mark Suster interviews Max Altman and Ben Braverman, two of the three co-founders of Saga Ventures. With Saga’s new $125 million fund, the trio talk about: ➡ Fundraising challenges the co-founders faced as a first-time fund and the playbook of how referrals can be the best leads for increasing the chances of success ➡ Nuances of determining a fund size to maintain competitive advantages in deal strategies ➡ Ben’s learnings from working with Ryan Peterson at Flexport as well as Max’s experience and unique advantages working with his brothers Jack and Sam Here's a short clip below about the attributes of successful founders that they look for, including those willing to take unconventional risks 👇

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Thanks to Kanhai Kapadia for hosting me on the Hindsight podcast. It was a lot of fun talking about the importance of data in helping brands manage profitability and also how both Consumer Brands and SaaS companies are transitioning to this post-zirp environment #dtc #analytics

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🎧 Tune in to the latest Wharton Fintech episode to hear all about Plaid's journey and how we're building faster, safer, and more seamless financial experiences.

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Thrilled to announce Next Frontier Capital's investment in Hoonify Technologies Inc. Andrew Clark, Victor Kuhns, and team bring decades of HPC experience from Sandia National Laboratories. Hoonify is NFC's first New Mexico investment! Hoonify’s innovation began by placing supercomputers at the edge – in offices, academic institutions, and homes – and liberating them from the traditional high hurdles of supercomputing. Providing immediate and personal access to this technology improves customer performance by up to 300%, achieving higher efficiencies with lower costs compared with alternative solutions. Currently, Hoonify serves U.S. Government and commercial companies in the aerospace and defense and biotech markets that demand accelerated results for their consequential modeling and simulation, artificial intelligence (AI), and machine learning (ML) workloads. With $3.75m in new funding, Hoonify provides clients supercomputing capabilities typically only available to a select few, will use the new funding to fuel additional growth for product enhancements and to position its software platform, TurbOS for entry into additional markets. TurbOS runs on any Intel CPUs or NVIDIA GPUs to enable faster computing performance through parallel computing - using the customer’s existing hardware or options including Hoonify’s all-in-one Cub Desktop Supercomputer. Let's go!

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If you lead a VC-backed company or have PE owners, I know you’re losing sleep because of capital market expectations for more profitable growth! Tune in to this episode of Hindsight to hear how Daasity CEO Dan LeBlanc is guiding his company through this change. To listen to the episode, find the link below in my first comment below. If you are on the fund side or the portfolio company side, please comment on what is working for you! #venturecapital #d2c #consumer #daasity #analytics

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