UAVenture Capital Fund, LLC, the Tucson-based early-stage capital fund, formed at the beginning of 2018 and, dedicated to the commercialization of University of Arizona science and technology, has announced its first three portfolio investments.
UAVenture Capital was formed following the successful commercialization and sale of Sinfonia HealthCare Corporation and its wholly-owned subsidiary SinfoniaRx, Inc. in 2017. SinfoniaRx, the College of Pharmacy medication review company that spun out of the UofA in 2013, was sold to Tabula Rasa HealthCare in September 2017. The merger transaction was selected as the 2017 Deal of the Year by the Association for Corporate Growth-Arizona Chapter.
Fletcher McCusker and Michael Deitch, the CEO/CFO team and founders of the Providence Service Corporation and the founders of Sinfonia HealthCare Corporation subsequently formed an early stage capital fund following the sale of Sinfonia. The newly formed Venture Capital Fund has its office in the Ronstadt House on 6th avenue, near both downtown and the University.
“Today the UAVC Fund has announced investments in three UofA related companies that each offer cutting edge science or technology capable of having an enormous impact in the world,” stated Fletcher McCusker, CEO and Founder. “We are proud to be part of the legacy being established by President Bobby Robbins, TechLaunch Arizona, and our brilliant scientists, inventors and students associated with the UofA.”
The announced investments include:
• Codelucida: https://www.codelucida.com/
Formed by UofA engineering graduates and faculty, Codelucida has developed error-correction technology that can enable cheaper, high-capacity, high-performance solid state drives for consumer and data center storage. Dr. Shiva Planjery, Dr. Bane Vasic and Dr. David Declercq are the founding team behind what could be one of the most enabling technologies in the semiconductor space.
• Regulonix: https://www.regulonix.com/
Dr. Rajesh Kanna, a UofA pharmacologist, and his team have invented a powerful non-opioid/non- addictive pain killer. The compound, invented in Tucson at a UofA lab, has performed well in animals and will now advance to human trials seeking FDA approval.
• Post.Bid.Ship: http://enterprise.postbidship.com/
Eller College graduate Jarret Hamstreet and team have invented a disruptive application for semi-truck shipping. The company has automated the process of identifying and locating an available hauler and then matches them to a shipper, reducing dead head truck hauls and increasing shipping resources and efficiencies.
“These are just a few of the numerous technological innovations coming from and/or related to the University of Arizona,” Fletcher McCusker stated. “We expect to fund many additional talented inventors and worthwhile companies in an effort to advance UofA related science and enterprises.”
