Fund III Investments in Ride Report and Unnatural Products
With the launch of our third fund earlier this fall, we’ve been active on the deal front and recently closed our first two investments in Ride Report and Unnatural Products. Portland-based Ride Report is ushering in a more sustainable and equitable urban transportation future by helping cities better manage the myriad micro-mobility solutions now available, from dockless bikes to stand-up electric scooters. Ride Report’s API platform makes cities smarter by providing real-time analytics on location and usage data, which is used for better planning, compliance, and logistics while supporting new transportation options for city residents. We invested in the company’s seed round, which was led by Homebrew and included Urban Innovation Fund.
We also closed an investment in Santa Cruz-based Unnatural Products, a computational drug discovery platform focused on macrocycles, which have the potential to treat the 80% of drug targets for which there are currently no therapeutic strategies. Co-founders Cameron Pye and Josh Schwochert were both PhDs working in UC Santa Cruz’s world renowned macrocycle lab of Dr. Scott Lokey. After graduating, they developed an innovative approach to tackling some of the world’s most debilitating diseases using data science and parallel synthesis. We led UNP’s pre-seed round, which included investments from Asset Management Ventures and Artis Ventures.
In other news, we’ve had three recent follow-on rounds in Fund II portfolio companies including K4Connect’s Series B round (more below) and two others that will be announced soon. As we head into the final close on Fund III, we continue to ramp up our deal sourcing efforts with a focus on US based, early-stage technology companies solving big societal problems that map to the UN’s Sustainable Development Goals. If you’re connected to mission-driven founders working on startups in one of our investment themes, please send them our way! And we’d love to see you at at one of our upcoming events. Thank you!