We take the long view to investing, supporting our companies and founders to achieve growth, profitability and sustainable communities. Whether the challenge is working to dominate a local market or enter a foreign one, Innovative Ventures guides our companies to answer the most difficult questions facing founders/teams––and make the right decisions to achieve unique results.

IVI SOLUTIONS IN COMMERCIALIZATION, SCALING AND INTERNATIONAL EXPANSION

Country/Market Selection, Entry

Compliance to Local Regulations, Export Control, CFIUS (USA)

International Sales, Global Pricing/Quality Considerations

Team Building, Compensation, Team Growth

Technical Platform Selection, Digital, Physical

Adapt Execution to Foreign Cultures and Customers

Product Readiness, Integrated Product/Market Plans

Local Partner Selection

Balance Sheet, CAPEX/OPEX Preparation

Board of Directors: Create, Lead, Manage

Wireframing, Prototype Development

Drive Capital Efficiency

Opening of Offices, Staff Recruitment, Compensation

Operational Excellence, Corporate Governance

Income Repatriation, Management of FOREX

Customer Discovery, Business Model

Raise Capital: Debt, Equity, Bond/Note Placement

Corporate Structure for Foreign Market Entry; LLC, Joint Stock Company (Closed or Open), Foreign Branch, Rep Office

HOW THIS PAGE IS ORGANIZED

This list presents a sample of transactions, i.e., not the entire 316 direct investments made across N. America, Europe, countries of Sub-Sahara Africa & former Soviet Republics from 1986

  1. Direct Venture Investments: investee companies + lending facilities to banks and fund-of-fund investments. In a few cases, names of investees are undisclosed, not to be secret, but to respect the wishes of my co-fund managers
  2. Direct Investments as Innovation Grants, i.e., Venture Creation from University IP: funding the translation of research into customer ready products, then company start-up and the building of these enterprises––from R&D to proof-of-concept thru achieving 1st customer sale as evidence of product/market fit
  3. Commercialization, Scaling and International Expansion of Emerging Enterprises: advisory services provided to partners, e.g., Georgia Innovation and Technology Agency, Tbilisi, Georgia

Stages of company development are shown––start-up thru expansion––to enable a deeper understanding of our role with each venture in advancing their growth from one stage to the next.

VENTURE CREATION EXPLAINED

A comment: our brief was to not just finance applied research to proof-of-concept, but also, to manage each technology under a venture studio model: build companies from MVP thru commercialization, resulting in 1st customer revenues that attract additional investment. Investments made from our balance sheet + the raising of 3rd party capital.

DIRECT INVESTMENTS

NORTH AMERICA

CompanyStageAboutIndustry/Market SegmentFunding
Applied Intelligent Systems Inc.EarlyMachine vision (hardware/software)Advanced manufacturing$700k + $200k follow-on investment
Neogen Corp.EarlyElectronic instrumentation, pathogen detection and food safetyAgriculture, biotech$700k + $200k follow-on investment
Personal Bibliographic Systems Inc.EarlyBibliographic and database retrieval softwareSoftware$200k
Face TechnologiesStart-upPC peripheral add-on boardsHardware$330k
Gateway Systems Inc.EarlyDatabase managementEnterprise software$700k + $200k follow-on investment
MRCIGrowthHarvest seafood, process and distribute as branded products to global marketsFood and beverage$10 million

AFRICA (fund-of fund investments)

CompanyStageAboutIndustry/Market SegmentFunding
Uganda Dev. Corp.Growth Private equity investments in Uganda enterprisesFinancial services$2.5 million, LP fund investment
IPRISGrowthPrivate equity investments in Kenya and Tanzania enterprisesFinancial services$2.5 million, LP fund investment

RUSSIA

CompanyStageAboutSector/Business ModelFunding
FlexoprintEarlyPrintingBusiness services$600k
RoltiGrowthWindows and doorsConsumer durables$3.2 million
Lada XlebGrowthFlour, grain and bakery, chain of retail outletsFood & beverage$3.2 million
Saratov WallpaperGrowthWallpaper and home decorating productsConsumer retail, non-durables$3.2 million
Frank’s Ice CreamGrowthFrozen dessertsFood and beverage$250k

Working capital loans (debt) transacted thru our lending arm in Russia

CompanyStageAboutIndustry/Market SegmentFunding
Antarius-ServiceEarlyComputer equipment and servicesBusiness services$15k
SuyuzTehnoTransGrowthRail servicesTransport services$165k
Air-ServiceEarlyTransport servicesTransport services$20k
NesinaEarlyComputer equipment and servicesRetail$12k
ImplantsGrowthChain of dental clinicsRetail$183k
ChernykhGrowthInterior design servicesConsumer services$50k
Rakurs-SEarly Engineering surveying servicesBusiness services$20k
DavdovGrowth Chain of retail kiosksRetail$30k
Contact PlusGrowth Chain of optical clinicsRetail$70k
Konkom-InvestGrowth Fabricated wood productsBuilding materials$60k
SolovebEarly Maintenance servicesTransport services$25k
VostochnoyeGrowth Branded juice productsFood and beverage$35k

Credit facilities to Russian banks for on-lending to enterprises, extending our market reach in Russia

CompanyStageAboutIndustry/Market SegmentFunding
Primsots BankGrowthBankingFinancial services$4 million
Regio BankGrowthBankingFinancial services$3 million
MDM Dalnevostochnij BankGrowthBankingFinancial services$10 million
VneshtorgbankGrowthBankingFinancial services$10 million

SOUTH AFRICA

Company*StageAbout Industry/Market Segment Funding
 UndisclosedGrowthHousing constructionConstruction$1.1 million
 UndisclosedStart-upSecurity servicesBusiness services$632K
 UndisclosedGrowthFood services Food and beverage$1.9 million
 UndisclosedGrowthRadio station Media$2.1 million
 UndisclosedEarlyHome security servicesConsumer services$1.1 million
 UndisclosedStart-upComputer servicesIT services$105k
 UndisclosedGrowthTelecommunicationsTelecomm$4.2 million
 UndisclosedGrowthMedia holding Media$2.1 million
 UndisclosedGrowthComputer servicesSoftware$3.2 million
 UndisclosedGrowthFood manufacturingFood and beverage$3.8 million

* Name of investees undisclosed at request from our co-fund partner

DIRECT INVESTMENTS IN VENTURE CREATION FROM UNIVERSITY IP

KAZAKHSTAN

CompanyStageAboutIndustry/Market SegmentFunding
General Genetics LLPR&D to start-up, 1st salesPharma-cogenetic test (PCR) for precise dosing of medicationsHealthcare$488k
Chemistry and Innovation LLPR&D to start-up, 1st salesHydrogel herbal remedies for wound treatmentsHealthcare$1.5 million
BioSmart LLPR&D to start-up, 1st salesPilot production of recombinant proteins for dental applicationsHealthcare$1.1 million
Kaz Track Technology LLPR&D to start-up, 1st salesTrack membranesHealthcare$577k
Biostem LLPR&D to start-up, 1st salesRecombinant biomimetic peptides for therapeutic immunostimulative and anti-viral activityHealthcare$600k
Microfit LLPR&D to start-up, 1st salesNatural radionuclide isotopesHealthcare$580k
Antigen LLPR&D to start-up, 1st salesNatural polymer-based biologic coverings for burn and surgical woundsHealthcare$1.33 million
LLP SIC Zhana ZhobaR&D to start-up, 1st salesProducer of (sterile) medical gauze from cotton wasteHealthcare$400k
BioProm Technologies LLPR&D to start-up, 1st salesProduction of virus-free potatoes from micro-tubersAgriculture$500k
Bio Tech TKS LLPR&D to start-up, 1st salesDomestic producer of rubber from local plants (Taraxacum Kok-Saghyz Rodin)Agriculture$1.04 million
Glay SK LLPR&D to start-up, 1st salesMineral additives for animal feedAnimal Husbandry$900k
Antigen NPC LLPR&D to start-up, 1st salesEnzyme starters for the manufacture of fermented dairy productsFood and beverage$600k
KazCytoGen LLPR&D to start-up, 1st salesDNA passport to determine genetic and cytogenetic characteristics of sheep breeds specific to Kazakhstan––to identify genetic defects and breed more healthy sheepAnimal Husbandry$600k
Master Gene LLPR&D to start-up, 1st salesCreation of PCR assays for molecular and epidemiologic monitoring of plague and brucellosisAgriculture and human health$377k
AIM Lab LLPR&D to start-up, 1st salesSelf-healing composite coatingsMaterials$600k
Institute of Rheo TechnologiesR&D to start-up, 1st salesUse of magnetic energy to reduce oil viscosity and cut water concentrationEnergy$1.5 million
Institute of Polymer Materials and TechnologiesR&D to start-up, 1st salesPolymers for enhanced oil recoveryEnergy$1.4 million
KBTU Metallum LLPR&D to start-up, 1st salesPilot production of nano-structured carbon materialsMaterials$1.5 million
AspanTau LLPR&D to start-up, 1st salesCatalysts for conversion of light alkanesEnergy$1.5 million
Institute of Coal Chemistry R&D to start-up, 1st salesGasoline and diesel fuel production from brown coalEnergy$1.5 million
Astanatechcom LLPR&D to start-up, 1st salesProduction and distribution of magnegasEnergy$1.5 million
Center for Luminescent Materials LLPR&D to start-up, 1st salesFluorescent polymer materialsMaterials $1.5 million
Institute of Polymer Materials and Technologies LLPR&D to start-up, 1st salesHydrogel ‘pigs’ for cleaning of insides of oil pipelinesMaterials $300k
Institute for Innovation Research and Technology LLPR&D to start-up, 1st salesWaste-based synthetic WollastoniteMaterials $1.5 million
BioGeoTec LLPR&D to start-up, 1st salesTwo-staged bacterial-chemical technology to extract precious metals from electronic productsMaterials $1.2 million
Institute of Batteries LLPR&D to start-up, 1st salesMetal-free lithium-ion sulfur batteriesEnergy$1.4million
International Materials and Science CenterR&D to start-up, 1st salesCreation of national lab for composite and new materials developmentMaterials $1.3 million
Uniline Group LLPR&D to start-up, 1st salesKazak speech synthesis and speech recognition systemSoftware$350k
ABY APPLIED SYSTEMS LLPR&D to start-up, 1st salesSignal and video processing for moving object recognition and analysisSoftware$586k
Nazarbayev University Research Systems R&D to start-up, 1st salesMulti-grasp robotic handHardware, software$594k
EqualiZoom LLPR&D to start-up, 1st salesRemote sensor monitoring of communication & pipeline infrastructureHardware, software$211k
KazGeoScan LLPR&D to start-up, 1st salesRemote monitoring systemsHardware, software$1.2 million
EcoRisk» LLPR&D to start-up, 1st salesRisk mapping to estimate biota damage to the Caspian Sea ecosystem from oil spillsSoftware$1.4 million

VENTURE CREATION: NORTH AMERICA (grants and equity capital raised from 3rd parties)

CompanyStageAboutIndustry/Market SegmentFunding
3D Dash LLCR&D to start-upIntegration of MIG welding + CNC machining into a one station operation of 3d printed functional prototypes and replacement partsAdvanced manufacturing$206k
Goal Attainment Scaling LLCR&D to start-upMobile app: capture small, incremental improvements for patients receiving physical, speech and psychological therapyDigital healthcare$95k
Roshsenor LLCR&D to start-up, 1st salesDye infused nano size polymers to reveal progressive end-of-life to substratesHealthcare and sports$195k
SWART LLCR&D to start-upSubsurface water retentionAgriculture$367k
Ladd LLCR&D to start-upLaser augmented diamond drilling of micron and mm holes in ceramic-matrix materialsAdvanced manufacturing$250k
Audiovate LLCR&D to start-upMobile app: modulates speed, pitch & volume of athletics’ music playlist to deliver real-time feedback to performance and achievement of goalsSoftware$46k
NeoVentR&D to start-upNeonatal (non-invasive, low cost) ventilator to treat respiratory distress in pre-term infantsHealthcare$313k
Crossbar TechR&D to start-up, 1st salesUltra-high density memristor based memory chipElectronics, memory$45 million
Vortex Hydro EnergyR&D to start-up, 1st salesUltra-low power processorRenewables$6 million
Fusion CoolantR&D to start-up, 1st salesSupercritical CO2 based machining for advanced aviation and medical implant alloysAdvanced manufacturing$12 million
HistosonicsR&D to start-up, 1st salesUltrasound non-invasive surgeryMedical device$64 million
Cibo TechnologiesR&D to start-up, 1st salesAgronomy software thru proprietary predictive algorithmAgriculture software$50 million
KOPESS Ag TechR&D to start-up, 1st salesGMO plant traits for inducible drought toleranceAgriculture, biotechnology$350k
Jolt TechnologiesR&D to start-up, 1st salesTorque measuring deviceEnergy$450k
DurabilikaR&D to start-upMetal fatigue analysis softwareSoftware$170k
JetXplore/ AR 360R&D to start-up, 1st salesInteractive, VR aviation training appSoftware$475k
OTPVR&D to start-up, 1st salesOncolytic Tana Pox virus, cancer treatmentPharma$160k
StabiLuxR&D to start-upFluorophore technology enabling medical researchers to detect what was previously undetectableLife Science, reagents$2 million
NanosoundR&D to start-up, 1st salesActive noise cancellation thru carbon nanomaterialsNanomaterials, thermophone$1million
Pure PEGR&D to start-up, 1st salesPure polyethylene glycol at small and medium molecular weights for linkers in drug productionPharma, drug development$225k
GenonenomR&D to start-up, 1st salesGenome interpretation for cancer researchHealthcare$7.5 million
ONL TherapeuticsR&D to start-up, 1st salesTherapeutics for retinal diseaseBiotechnology, drug discovery$11.7 million
IROA TechnologiesR&D to start-up, 1st salesMetabolic proofing toolsBiotechnology, discovery tools$2.8 million
RetroSenseR&D to start-up, 1st salesGenetic engineering to restore sightBiogenetics, drug discovery$12 million

COMMERCIALIZATION, SCALING AND INTERNATIONAL EXPANSION SERVICES TO EMERGING ENTERPRISES

GEORGIA (Tbilisi)

CompanyStageAboutIndustry/Market SegmentFunding
Lightspeed Cloud BankingEarlySaaS platform for banks & non-financial institutions to make working capital, unsecured loansFintechUp to $40k grant
HostelProEarlySaaS booking platform for owners of hostelsTraveltechUp to $40k grant
Alien GreenEarlyWi-fi thermostatEnergyUp to $40k grant
CCLA LtdEarlyGeorgian lawyer bot, automating legal services for private individuals & corporatesChatbotUp to $40k grant
UI AppStart-upContact directory serviceMobileUp to $40k grant
STYXEarlySaaS platform for tracking, monitoring and managing freight movementLogisticsUp to $40k grant
VREXEarlyVR hardware/software solution for travel destinationsTraveltechUp to $40k grant
Traktor Technologies JSCEarlyAutomated image-based pest & disease recognition & decision support for farmersAgtechUp to $40k grant
CPL Hub LtdEarlyInsurance product platformInsuranceUp to $40k grant
Anima Chatbotics LtdEarlyCorporate chatbot platformChatbotUp to $40k grant
Global Health LtdStart-upVR global health training platformHealthtechUp to $40k grant
Influence GeorgiaGrowthOnline marketing solution for brands and influencersSocialUp to $40k grant
DoersStart-upSaaS platform connecting customers with service providersMobileUp to $40k grant
Mindori LtdR&D to start-up, 1st salesVertical farming kit for the growing of herbs at homeFood and BeverageUp to $40k grant
Spy LtdStart-upGeorgian pre-packed spice mixesFood and BeverageUp to $40k grant
Acoustic LtdStart-upNon-destructive testing to determine structural integrity of metal structures, tanks and containersSoftware, hardwareUp to $40k grant
Georgian Wine Finder LtdEarlyPortal for purchasing Georgian winesMobileUp to $40k grant

T. NASTAS: MEMBER, BOARD OF DIRECTORS; MICHIGAN EARLY STAGE VENTURE INVESTMENT CORP (FUND OF FUNDS)

MICHIGAN VENTURE FUND I

Assets under management: $95 million; investment amount per fund $3.6-$10 million

FundStageAboutIndustry/Market SegmentFunding
Arboretum Ventures II LPSeed-Early StageVenture capital investments in medical devices, health care diagnostics, services and ITVenture Capital, Financial servicesNot publicly disclosed
Arsenal Ventures II LPSeed-Early StageVenture capital investments in e-commerce logistics, enterprise and healthcareVenture Capital, Financial servicesNot publicly disclosed
Chrysalis Ventures III LPSeed-Early StageVenture capital investments in healthcare and technology (info/digital media, communications, mobility and education)Venture Capital, Financial servicesNot publicly disclosed
Early Stage Partners II LPSeed-Early StageVenture capital investments in IT, healthcare, advanced manufacturing and industrial solutionsVenture Capital, Financial servicesNot publicly disclosed
Fletcher Spaght II LPSeed-Early StageVenture capital investments in healthcareVenture Capital, Financial servicesNot publicly disclosed
Nth Power IV LPSeed-Early StageVenture capital investments in renewables, storage and smart gridVenture Capital, Financial servicesNot publicly disclosed
North Coast Tech III LPSeed-Early StageVenture capital investments in IT, materials and medical devicesVenture Capital, Financial servicesNot publicly disclosed
RPM Ventures II LPSeed-Early StageVenture capital investments in B2B SaaS, cloud/social media infrastructure, online marketplaces, mobility and transportationVenture Capital, Financial servicesNot publicly disclosed$40k grant
TGap Ventures II LPSeed-Early StageVenture capital investments in medical devices, health-care software, specialty manufacturing and ITVenture Capital, Financial servicesNot publicly disclosed

MICHIGAN VENTURE FUND II

Assets under management: $120 million; investment amount per fund $6.5-$15 million

FundStageAboutIndustry/Market SegmentFunding
Baird Ventures IV LPSeed-Early StageVenture capital investments in health care, industrial and tech services (fintech, digital)Venture Capital, Financial servicesNot publicly disclosed
Flagship Ventures IV LPSeed-Early StageVenture capital investments in medical devices, diagnostics, R&D tools, biotech, regenerative medicine, services and data solutionsVenture Capital, Financial servicesNot publicly disclosed
MK Capital II LPSeed-Early StageVenture capital investments in digital media, data center automation, ICT and edtechVenture Capital, Financial servicesNot publicly disclosed
Arboretum Ventures III LPSeed-Early StageVenture capital investments in medical devices, diagnostics, services and ITVenture Capital, Financial servicesNot publicly disclosed
Plymouth Venture Partners II & IIISeed-Early StageVenture capital investments in B2B product and services companiesVenture Capital, Financial servicesNot publicly disclosed
Venture Investors Fund V LPSeed-Early StageVenture capital investments in pharma/diagnostics, devices, health IT and analyticsVenture Capital, Financial servicesNot publicly disclosed
Cultivian Sandbox Food and Agriculture II LPSeed-Early StageVenture capital investments in agriculture, ag biotech, animal health, food production and food safetyVenture Capital, Financial servicesNot publicly disclosed
Draper Triangle Ventures III LPSeed-Early StageVenture capital investments in SaaS, robotics, medical devices, mobile applications and IoTVenture Capital, Financial servicesNot publicly disclosed$40k grant
Mercury Fund Ventures III LPSeed-Early StageVenture capital investments in intelligent manufacturing, SaaS, cloud biology, data sciences, AIVenture Capital, Financial servicesNot publicly disclosed