Keiretsu Ranked #1 Active VC Investor in Pitchbook 2016 Annual Report

We are proud to share that the Keiretsu Global Network was ranked ten times in the 2016 Annual Report from Pitchbook. The full report is available below for you to read and share.

See a complete list of rankings below – all are Keiretsu Forum unless otherwise indicated, rank on list indicated in parentheses:

  • Most Active VC Investor at Seed/Angel Stage – Keiretsu Forum (1st)
  • Most Active VC Investor – West Coast Deals (1st)
  • Most Active VC Investor – US Deals (2nd)
  • Most Active VC Investor – Deals in the Rest of World (3rd)
  • Most Active VC Investor in Pharma & BioTech (3rd)
  • Most Active VC Investor in Consumer Goods (3rd)
  • Most Active VC Investor in IT Hardware (7th)
  • Most Active VC Investor – Mid-Atlantic Deals (8th)
  • Most Active VC Investor at Seed/Angel Stage – Keiretsu Capital (22nd)
  • Most Active VC Investor at Late Stage (22nd)

Keiretsu Company Savara Exits for $115M

Savara and Mast to Merge to Progress Clinical Pipeline of Inhaled Drugs

    • Savara Pharmaceuticals and Mast Therapeutics agreed a stock-based merger deal that values Mast at $36.5 million and Savara at $115 million. Under terms of the proposed deal, which was announced over the weekend, Savara’s shareholders will receive newly issued Mast shares in exchange for their Savara stock and own 76% of the combined entity, which will also retain the Savara name and headquarters in Austin, TX. The merger has been approved by both firms’ boards and is subject to Mast and Savara shareholder approval and customary closing conditions.

      Savara is focused on the development of treatments for rare respiratory diseases. If the merger with Mast is finalized, the combined clinical pipeline will include three candidates. Savara’s own AeroVanc is an inhaled dry powder vancomycin for treating methicillin-resistant Staphylococcus aureus (MRSA) pulmonary infection in cystic fibrosis. Savara and Mast anticipate starting a Phase III study with AeroVanc during the latter half of 2017. Savara raised $20 million in a Series C financing round, during the first quarter of 2016, to support the Phase III study.

      Mast’s AIR001 is an inhaled, nebulized sodium nitrate solution for treating heart failure with preserved ejection fraction (HFpEF). The drug is in Phase II development. Mast and Savara say they expect to release data from the 100-patient study, which is being conducted by the Heart Failure Clinical Research Network, during the first quarter of 2018.

      Molgradex® is an inhaled, nebulized granulocyte-macrophage colony-stimulating factor (GM-CSF) for treating pulmonary alveolar proteinosis (PAP). The drug is undergoing Phase II/III development. Savara acquired Molgradex through its takeover of Danish firm Serendex Pharmaceuticals in July 2016. Topline data from the registration-enabling European and Japanese trial of Molgradex are expected during the early part of 2018. Molgradex has been available for use in selected PAP patients in Denmark, Germany, and Austria, under the Early Patient Access program, since 2015. During May 2016, Savara granted Japanese firm Nobelpharma a license to Molgradex for the treatment of PAP in Japan.

      Savara’s preclinical candidate Alveodex is a proprietary, nebulized recombinant human FVIIa, which is in development for the treatment of diffuse alveolar hemorrhage and other high-risk populations with respiratory diseases in a critical care setting. Alveodex was also acquired through the Serendex takeover.

      In a statement, Savara chairman and CEO, Rob Neville, called the proposed merger with Mast transformative. “We believe the favorable risk profile of our product candidates combined with their market potential provides a unique opportunity for Savara to become the next breakout company in orphan pulmonary diseases." Brian M. Culley, current CEO and director of San Diego-based Mast Therapeutics, added, "We are excited for the prospects of the combined company and believe that Savara's management team is well equipped to advance the pipeline toward regulatory approvals and commercialization in the U.S. and EU."

    LumiThera Featured at Monaco Growth Forum in UAE

    Monaco Growth Forums celebrates another successful event with the Tech Tour U.A.E.

    The event was attended by over 130 investors in Dubai and Abu Dhabi on December 14th - 15th.

    December 19, 2016 - Monaco Growth Forum's Premier Edition of Tech Tour U.A.E. concluded last Thursday evening after three days of meetings, receptions and luncheons in the Emirates of Dubai and Abu Dhabi. Hosted by Andreea Porcelli and Monica Cressot of Cressot Capital, this unique networking event featured three of the top companies from our Monaco Growth Forums Fall Edition in Monte Carlo held in November.

    Joseph Konowiecki, CEO of Apollo AES shared, “The Tech Tour was both interesting and enlightening. I met a wide variety of companies with which AES may achieve future relationships in the GCC region. I was impressed by the degree with which the UAE could become a springboard for relationships in the global marketplace”

    The CEO's of Apollo AES, ("OAL:GR), Badu Networks, and Lumithera, Inc. met with over 130 investors and business representatives starting on Tuesday in Dubai. this was followed by a Cocktail Reception at the Ritz Carlton in Abu Dhabi on Tuesday evening. Wednesday started with an Investor Luncheon at the Ritz-Carlton in Abu Dhabi and proceeded to a Cocktail Reception at Jean Georges Restaurant at the Four Seasons Resort in Dubai. The Cocktail was attended by over 60 guests including Business Executives, politicians, and other international investors also based in Dubai.

    Clark Tedford, CEO of Lumithera said, “U.A.E. represents an important market for our medical device and has a history of being on the cutting edge of medical technology. The events were an opportunity to meet new collaborators and investors and help us open the doors to bringing our technology here. It was an incredible week for the Tech Tour.”

    “"U.A.E. is a strategic location for BADU beyond just that of a potential market for our products. The U.A.E. is also a strategic location from which BADU can serve its future continental customers from the Middle East, India and Africa,” said Dennis Vadura, CEO of Badu Networks. “We are very happy to have been part of the U.A.E. Tech Tour as it gave us an opportunity to start forging important relationships in the region.”

    Thursday, 15th December was our headline event, the Luncheon presentation at The Address Hotel in Dubai. Over 50 investors watched the company presentations and lingered over a networking lunch well into the late afternoon. Several delegates remarked that they were impressed by the quality of the companies presenting as well as the organization of the Forum.

    Andreea Porcelli, CEO of MGF promised, “We will return to the U.A.E. in February with a Tech Tour as we find the international business and investing environment here to be a real benefit to our high growth company clients. We look forward to meeting you all again and exploring the synergies that we have found here for businesses that are seeking an international representation.”

    Bouxtie Raises More Than $3.5m From Keiretsu Angels

    In 2015 Bouxtie raised a seed round of 2 million dollars, and we just recently closed a Series A round of 2.5 million dollars. All together we raised $4.5 million, and including my own money around $5 million dollars in total.

    And who did you raise from?

    From a group called Keiretsu. The majority of the money I raised through them, around 80 percent, and the 20 percent was from two small VCs in San Francisco.

    How did you find the Keiretsu group as main investors?

    I spend a month going to all the different groups in Silicon Valley. I sent 275 emails, and met 175 different VCs that said, “You are too small for us, come to us when you have 20 to 30 million dollars.” When I asked, “Can you tell me how I should do that?” Some of those people were nice to me, and some were not. I was told to go to Keiretsu Capital, that maybe they could help me. I met the owner, Randy Williams, and we clicked. I presented there and got the first $400K from their group. They found me a lead investor, and now 80 percent of the investors who invested in Series A round are also investors from the seed round.

    Keiretsu Indian Expansion

    The world’s leading angel investor network with over 2,500 investors, Keiretsu Forum, is opening its Mumbai chapter, the third such centre in India. In an interview with BusinessLine, Judith Iglehart, President, International Division, Keiretsu Forum, talks about how the large intellectual capital base in India is driving investments across the globe. Edited excerpts:

    The average investment size is between $150,000-$200,000. About 25 companies have got funded so far. But our membership is limited because we are still new here. Once we hit about 100-150 numbers, the deal sizes could become larger and even the pool of investment will grow. At least half of these investments are in US-based companies and all these investors are from Chennai. We are not just focussed on IT. We fund everything as long as they meet our benchmark. As per the recent global rankings, Keiretsu Forum and Keiretsu Capital are the top two active investors during the third quarter of 2016. During 2015, the forum invested in over 130 start-ups worth $71 million. Since 2000, it has invested a total of over $800 million.

    Keiretsu: World's Most Active Venture Investor

    Keiretsu Forum and Keiretsu Capital were the top two most active venture investors in the world this quarter by deal flow, according to the Venture Monitor Q3 Report. 

    About the Venture Monitor: 

    Fresh off their new partnership, PitchBook and the National Venture Capital Association have partnered to produce the Venture Monitor, a comprehensive review of venture capital activity within the US. The report features extensive datasets on venture financing by stage and sector, plus detailed analysis of venture-backed exits and fundraising.

    Harvard/MIT Researchers Find Some Angels Outperform VC's

    A new paper by Josh Lerner of the Harvard Business School and Antoinette Schoar of the MIT Sloan School of Management explores the rise of angel investing and compares it to venture capital. Using data from two large angel startup groups, the authors were able to show results that should encourage attention to this mode of financing. First, they find that during the period of study, “the angel group outperformed the venture capital industry overall.” Second, they found that “Startups funded by angel investors are 14% to 23% more likely to survive for the next 1.5 to 3 years and grow their employment by 40% relative to non-angel funded startups. Angel funding affects the subsequent likelihood of a successful exit, raising it by 10% to 17%.”

    Lerner and Schoar explain the positive outcomes of angel investors by arguing that they provide “value added and hands-on improvement … rather than just access to funds.” Often angel investors include “some of the most sophisticated and active investors in a given region, which might result in superior decision-making.” The paper makes a good case for the use of angel investing as a way of improving the entrepreneurial ecosystem in a region.