SWAN Venture Fund 2 has made its last investment in the last month of our investment period. Our second fund began investing in January 2018 and made 8 investments through the end of 2020. Six companies are based in the greater Seattle area and two are in based in British Columbia. Our goal for portfolio 2 was to diversify into PNW companies which we believed could return our fund.

The portfolio for SWAN Venture Fund 2:

Cloudneeti – Our second fund invested into the company in January 2020. Cloudneeti provided an automated cloud security configuration tool for the enterprise. They were acquired by ZScalar in April 2020.

Curvafix – an FDA-approved medical device company that manufactures and sells a minimally invasive pelvic implants to secure fractured and broken pelvis. In 2019, our second fund participated in a Medical Device follow-on opportunity on an investment made by our first fund. By the end of 2020, Curvafix had reached milestones to land $10.75M in series B funding

Defined.ai – Our second fund participated in a follow-on opportunity on an investment made by our first fund. They are aiming to be the “github for AI.” We invested in December 2018. By the end of 2020, their realized annual revenues grew from a healthy 7 figures in 2018 to 10x that number in 2020 (8 figures). They closed their $50.5M Series B in May 2020.

Niricson – In an age where our infrastructure (bridges and dams) is getting older, and in an age where most infrastructure inspections are still manual, Niricson is a British Columbia enterprise SaaS company that is using AI, drones, and sensor data to assist infrastructure owners in evaluating the health of their assets more effectively.

Opticyte – Opticyte is a medical device company that is building a better blood oximetry device. Their device helps to capture critical real-time patient cellular oxygen data to help minimize the leading causes of organ failure, including sepsis.

SiDx – A parallel medical diagnostics company. The company’s silicon photonics chip uses over 60 sensors to determine blood-type and to sense blood-borne diseases, in a few minutes, all at the same time.

SST Wireless – An Industrial Internet of things sensor company based in BC, Canada. They manufacture and sell rugged sensors to industrial manufacturing companies to handle high temperature, high pressure, and caustic environments commonly found in industrial settings.

TransformativeMED – An enterprise B2B software company in the
Health IT space. They are integrating with physicians existing EHR
systems and improving the physician’s workflow and decision-making experience.