The Triangle fundraising tear continues, with local entities disclosing a combined $87.7 million in funding last week alone.
From oncology research – Civatech Oncology’s $7.9 million funder – to venture capital funds, companies raising capital ran the gamut.
The largest raise of the week went to “Sovereign’s Capital II," which closed on nearly $36.4 million. Faith-driven Raleigh investment firm Sovereign’s Capital, with a portfolio that includes Camp Gladiator and CloudFactory, typically invests in lower middle market companies with between $10 million and $100 million in revenue. But it also invests in what it describes as “promising, early-stage technology companies” raising seed capital.
Sovereign’s has big names backing it up, such as Bandwidth (Nasdaq: BAND) co-founder Henry Kaestner and Luke Roush, who served previous leadership roles at biotech firms such as TransEnterix (NYSEMKT: ASCX): and Liquidia Technologies (Nasdaq: LQDA).
Morrisville-based Cunning Capital Partners, a pooled investment fund co-founded by David Cunningham, son of the TrialCard founder of the same name, closed on nearly $1.4 million, upping its total haul to nearly $107 million.
Quintiles spin-off NovaQuest Capital Management listed a pair of “NovaQuest Animal Health Opportunities” funds, though neither had actually closed on any capital as of the filing. Both are targeting $250 million and both are listed as pooled investment funds.
The biggest non-fund cash haul went to Medicom Technologies, creator of what it describes as a “decentralized health information network,” which raised more than $21.8 million, according to a filing Nov. 18. According to the company, the round was led by existing investor Oval Park Capital with participation from Vocal Partners, Grayhawk Capital and Cone Health Ventures.