The second half of 2021 continued to show strong venture investing activity across a wide range of sectors. Technology and Life Science transactions were the dominant force in the 65+ deals the Mintz team handled in the second half of the year. Below we highlight some of our interesting transactions.
Fintech
Mintz advised T-REX Group, a fintech company that has developed a SaaS platform to more accurately and efficiently value securities in complex asset classes, including alternative energy, in an initial close of a $40 million Series C financing. T-REX was founded to address two distinct gaps in the market: the absence of modern technology to power complex asset finance and the need for tools to accelerate investment into energy transition. This financing will facilitate transformational change in sustainable infrastructure investment and capital markets more broadly.
Life Sciences
Mintz advised Cardurion Pharmaceuticals, Inc., a clinical-stage biotechnology company, in a recently closed private investment of up to $300 million from Bain Capital Life Sciences and Bain Capital Private Equity. Bain Capital joins existing investors Takeda Pharmaceuticals and Polaris Partners in supporting the evolution of Cardurion into a leading cardiovascular biotechnology company. This latest investment will support the thoughtful advancement of Cardurion's pipeline, enabling the company to scale its team and create an industry-leading platform.
Technology
Gluware, a company rich in IP assets, raised $35 million from Bain Capital Credit using a new financing alternative called IP-backed debt. Mintz advised Gluware, Inc. in this innovative fundraising transaction that closed in October 2021. These IP-backed loans provide significant growth capital to companies that are normally shut out of the debt financing markets.
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