Home Finance specialist Mintz Venture Watch—Volume 2: A Report on 3rd and 4th Quarter 2021 Deal Trends – Corporate/Commercial

Mintz Venture Watch—Volume 2: A Report on 3rd and 4th Quarter 2021 Deal Trends – Corporate/Commercial

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United States: Mintz Venture Watch – Volume 2: A Third and Fourth Quarter 2021 Deal Trend Report

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The second half of 2021 continued to show strong venture capital investment activity across a wide range of sectors. Technology and life sciences deals were the dominant force in the more than 65 deals the Mintz team processed in the second half of the year. Below we highlight some of our interesting deals.

fintech

Mintz advised T-REX Group, a fintech company that developed a SaaS platform to more accurately and efficiently price securities in complex asset classes, including alternative energy, during the initial closing of a $40 million Series C financing. T-REX was founded to fill two distinct gaps in the market: the absence of modern technology to power the financing of complex assets and the need for tools to accelerate investments in the energy transition. This funding will facilitate transformational change in sustainable infrastructure investing and capital markets more broadly.

Life sciences

Mintz advised Cardurion Pharmaceuticals, Inc., a clinical-stage biotechnology company, in a recently closed private equity 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 to support Cardurion’s evolution into a leading cardiovascular biotechnology company. This latest investment will support the thoughtful advancement of Cardurion’s pipeline, allowing the company to scale its team and build a cutting-edge 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 which closed in October 2021. These intellectual property-backed loans provide significant growth capital to companies that are normally excluded from debt financing markets.

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