Menlo Park Breakfast Highlights

On Wednesday 1809 Capital continued our national venture and innovation forum series hosting an engaging morning in Menlo Park, CA diving deep into discussions on the current state of the Venture Capital Market, the essential qualities of successful founders in Deep Tech, and exemplary entrepreneurship education at Miami University!

Huge thanks to Tim Holcomb, Department Chair of Miami’s nationally ranked undergraduate Entrepreneurship program, for his inspiring update.

Special shout out to Blake Faulkner at Boondoggle AI, Alicia Scheffer-Wong at Visby Medical, Dan Imler at Curbside Health, Lumen Sivitz at Lightwork, Steve Carlin at AiFi, Jeff Karras at America’s Frontier Fund, Prashant Gangwal at Altos Ventures, Jake Simon at Porsche Ventures, and Patrick Kent at Refinery Ventures for their invaluable contributions to the conversation.

Next in the series is Cincinnati on March 1st, 8:00 AM at Union Hall. Sign up below for more information!

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Join us for the 1809 Capital & Miami University Cincinnati Breakfast

Please join us for an 1809 Capital and Miami Alumni breakfast networking event on Friday, March 1st at Union Hall in Cincinnati/OTR.  We look forward to providing an update on the Fund’s progress.  1809 Capital partner Cintrifuse Capital will provide update on platform strategy and community impact mission.  Tim Holcomb, Chair of the Department Entrepreneurship will also overview the department’s growth and strategic impact on Miami’s academic mission.  Miami’s John W. Altman Institute for Entrepreneurship recently won the 2024 Model Program Award, given annually to the top entrepreneurship program by USASBE (U.S. Association for Small Business and Entrepreneurship).

Participants will receive current market insights from a panel Founders and VCs discussing the impact of generative AI and Large Language Models (LLM) on venture investing and startup formation and growth opportunities.  Many believe we are at the beginning of an exciting multi-year (possibly decade-long) technology and venture growth cycle.

Agenda:

• 8:00am – Registration and breakfast

• 8:20am – Introductions: Mark Richey, Partner, 1809 Capital

• 8:35am - Cintrifuse Capital

• 8:50am – Market Insights:

• 1809 Capital VC Network representatives

• Miami Founders and 1809 Capital portfolio CEOs

• 9:20am – Miami Entrepreneurship:  Tim Holcomb, Chair Department of Entrepreneurship

• 9:30am – Networking

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Congratulations to Miami Graduate Maria Bennett on raising $85 Million in Additional Funding to Advance Rapid Commercial Expansion of the SPRINT® PNS System

SPR Therapeutics, a private medical device company focused on treating pain and improving the quality of life for patients managing acute or chronic pain, today announced that it has secured $85 million in financing including $25 million in Series D-1 insider equity and a $60 million debt facility. The equity financing was led by Revelation Partners, SPR’s lead investor of the Series D equity financing, and incumbent investors, RC Capital and Mutual Capital Partners. The debt facility is provided by SLR Capital Partners and Armentum Partners served as the Company’s financial advisor.

The funds will be used to capitalize on commercial momentum, customer demand, and market opportunity to expand SPR sales representation in additional U.S. sales territories. “We thank our financing partners and are pleased to raise additional capital to support and accelerate our already significant growth,” said Maria Bennett, President, CEO and Founder of SPR Therapeutics. “We have seen strong adoption of the SPRINT System in the last two years resulting in nearly 200 percent growth of our team, and tremendous year-over-year revenue growth of more than 50 percent from 2022 to 2023.”

In addition to sales expansion, proceeds will support continued product development and build upon the largest set of peer-reviewed published PNS data in the industry. “Supporting the effectiveness of SPRINT as a short-term, 60-day treatment with long-lasting results across multiple areas of pain including low back, shoulder, knee, as well as head and neck is at the core of our commitment to patients. We have recently shared economic assessments highlighting the efficiency and savings potential of SPRINT PNS versus traditional approaches and will continue to advance access to care,” added Bennett.

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