current portfolio comPanies
Active Energy is developing an innovative ice thermal storage system to provide cooling that is affordable, efficient and resilient. The company’s innovation – Icephobic Heat Exchange (IHEX) – addresses the two weaknesses of existing ice storage that prevent its widespread adoption. Active Energy’s heat exchanger directly utilizes refrigerant to improve energy efficiency by 20%. The system has a power peaking ability, providing a very high cooling output for a limited period of time, enabling a 50-ton cooling unit to output 500 tons through enhanced thermal storage.
Entac Medical is developing noninvasive devices for predictive and diagnostic medicine based on a novel, patented platform technology. The company’s first product is a device to detect Postoperative ileus (POI), which is acute paralysis of the GI tract that develops 2-6 days after surgery causing nausea and vomiting, abdominal pain and distention. It occurs in many types of surgery, with the highest incidence in gastrointestinal surgery where over 2 million patients are at risk annually in the US alone. The inability to predict which patients will develop POI leads to increased postoperative complications, longer length of stay, and high readmission rates.
EXITED PORTFOLIO COMPANIES
SmartRIA provides an advanced compliance software solution designed to address the needs of compliance consultants, compliance officers, operations teams, investment advisors, wealth and asset managers and the staff who support them.
The TennesSeed Fund provided venture debt financing (revenue loan) to SmartRIA in March 2019, as part of a syndicated seed financing transaction and as the company’s first institutional investor. The seed capital funded the company to refine its initial product offering and generate early revenue. In the Summer of 2021, the company raised capital from a strategic investor. The capital from the new investor was utilized by the company to take out the early venture debt providers and will be utilized to increase revenue growth rate for the company.