Mintz Venture Watch — Volume 6: A Report on Deal Trends from 2023

The Mintz Venture Capital & Emerging Companies team has remained busy advising emerging companies of all sizes and at all stages of growth across a wide range of industries. We are pleased to report that Mintz attorneys assisted clients in completing 55 transactions in Q3 and Q4 with an aggregate deal value of over $640 million, culminating in 130 transactions and an aggregate deal value in excess of $2.6 billion over the course of the past year.

Below are a few highlighted transactions:

Technology

Mintz represented Revelstoke Security, a cybersecurity company offering “the first low-code, high-speed Security Orchestration, Automation and Response Platform built on a Unified Data Layer” in its $20 million Series B Financing led by SYN Ventures and ClearSky. Mintz subsequently represented Revelstoke in its sale to Arctic Wolf.

Energy & Sustainability

Mintz represented Gradiant Corporation, a global end-to-end solutions provider of advanced water and wastewater treatment, in its Series D financing. The Series D financing was led by BoltRock Holdings and Centaurus Capital, which invested an aggregate of $225 million in Gradiant at the initial closing — bringing Gradiant’s total funding to date to more than $400 million and its “unicorn” valuation. The funding will be used to continue the company’s expansion into strategic markets to make Gradiant the preferred water partner of the world’s essential industries. The funding will also support growth into new geographies, such as the Middle East and Europe, and further advance Gradiant’s R&D programs.

For over a decade, Mintz has been a trusted partner of Gradiant, working closely with the company since its inception. As Gradiant continues to expand its business and deliver innovative solutions to leading customers around the world, Mintz has played a pivotal role in providing strategic guidance and legal support.

Life Sciences

Mintz advised Hopewell Therapeutics, a biotechnology company with a differentiated lipid nanoparticle platform harnessing unique ionizable lipid chemistry, in its seed financing of up to $25 million. The funds will enable Hopewell to advance the development of genomic medicines based on its differentiated tissue-targeted Lipid Nanoparticle (ttLNP) platform through both internal pipeline programs and external partnerships.

Investors included Mass Ave Capital, 5Y Capital, and HIKE Capital. The funding was carried out in multiple stages, with a significant portion of funds already received by the company, along with additional commitments from existing investors.

You can also ask us anything at http://mintzedge.com/ask-anything/. We built the MintzEdge website as a resource for entrepreneurs and investors, and hope that all of you take advantage of the site and see how it can help you.

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