Riverside closes $1.8B fund to invest in middle-market deals

Plus: Massachusetts-based Ring Therapeutics raises $86.5M Series C to revolutionize programmable medicine

Inside.com Part of   Network March 10, 2023

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Riverside has closed a $1.8B fund to invest in middle-market deals. The firm is focused on companies with up to $10M in EBITDA. More: Since its inception in 1988, the firm has made more than 960 investments globally. Out of the 960 investments, Riverside has had 43 exits. Some of the companies that the firm has invested in are: Alchemy, Scram Systems, American Hospice, Axiom Therapeutics, etc. Its investments focus on three regions: North America, Europe, and Australia. The fund will be officially named RMCF VI. This fund was 50% larger than the previous one, RMCF V.

Ring Therapeutics has raised an $86.5M Series C funding round to revolutionize programmable medicine. Alexandria Venture Investments, Altitude Life Science Ventures, CJ Investment, Invus, Kyowa Kirin Co., and Partners Investment led the round. More: Ring Therapeutics is focused on advancing gene therapy through the use of anelloviruses. The company claims that its therapies can be used to treat a number of conditions. Since its inception in 2017, the company has raised $235M in funding. Ring aims to use this funding round to expand to new markets and boost production. The company is based in Cambridge, Massachusetts.

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Masttro has raised a $43M Growth funding round to help family offices make data-driven investment decisions. The company is based in New York. More: Masttro offers a platform that lets investors have a clear analysis of their illiquid and liquid investments, liabilities, and passion assets. The platform has features such as AI-driven document data extraction, data aggregation, etc. To protect the data, the platform is protected by security protocols. FTV Capital led the funding round, with participation from Citi Ventures. In addition to its New York headquarters, the company has offices in Zurich, Monterrey, Mexico City, and Santiago.

Cognosos has raised a $25M funding round to provide real-time asset location tracking for the healthcare, automotive, logistics, and manufacturing sectors. The company has tracked 37 million assets so far. More: The company claims that its solution can help its clients track the movement of their assets and increase their ROI by being able to plan more efficient routes. Cognosos aims to use the funding for growth and to hire across all departments. Since its inception in 2015, the IoT startup has raised over $38M. The company is based in Atlanta, Georgia.

💵 Today's funding: Transportation Indra (U.K.), provides charging solutions for electric vehicles: $24M B led by Gulf Oil International Limited. Cybersecurity Cado Security (U.K.), a cloud forensics and incident response platform: $20M Growth led by Eurazeo, with participation from Ten Eleven Ventures. Cubist (New York), provides Web3 tools that help developers make their apps more secure: $7M Seed led by Polychain Capital, with participation from dao5, Amplify Partners, Polygon, Blizzard, and Axelar. Biotech Iktos (France), uses Artificial Intelligence to discover new drugs: $16.5M A led by M Ventures and Debiopharm Innovation Fund with participation from Omnes Capital. Cryptocurrency/Web3 Proven (New York), offers technology that confirms the authenticity of the crypto transaction: $15.8M Seed led by Framework Ventures, with participation from Balaji Srinivasan, Roger Chen, and Ada Yeo. Tweed (Israel), enables any company to launch their own wallet and payment solution: $4M Seed led by Accel with participation from Communitas Capital Partners, Zero Knowledge Ventures, Nicolas Julia, Mike Vaughan, Ameet Patel, and Cristóbal Conde.  Fintech Synctera (California), enables businesses to launch their own fintech platform: $15M Growth led by NAventures, with participation from The Banc Funds, Veritex Community Bank, Midland States Bank, and Emigrant Bank. Monnai (California), provides global consumer insights and regulation compliance tools for financial institutions: $6.5M A led by Tiger Global with participation from Better Tomorrow Ventures, 500 Global, and Emphasis Ventures.

Quick Hits: Demonstrating security and compliance can be time-consuming and expensive. Until you use Vanta. Start a free trial.* HeadRace (Texas), an employee recruiting platform, raised a $6M Seed round led by Greylock, Susa Ventures, and Breyer Capital with participation from Packy McCormick, Kindergarten Ventures, and Blue Lion Global. Cayman Islands-based Gyroscope, a decentralized stablecoin company, has raised $4.5M in a Seed funding round led by Placeholder VC and Galaxy with participation from Maven11, Archetype, and Robot Ventures, as well as angel investment from Cyrus Younessi, Fernando Martinelli, Hart Lambur, and Will Villaneuva. ufurnish.com, a U.K.-based discovery platform for home furniture, raised a $4.1M Seed round led by angel investors. North Carolina-based Tiamat Sciences has raised a $2M Seed extension. The round was led by 8090 Industries with participation from True Ventures, Social Impact Capital, Cantos, Portfolia, Alexandria, Siddhi Capital, Sara Murray, Seed folio, Sustainable Food Ventures, and Exponential Impact. *This is sponsored content.

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Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords.

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