Despite economic uncertainty in the second half of 2022, the Mintz Venture Capital & Emerging Companies team remained busy advising emerging companies of all sizes and at all stages of growth across a wide range of industries. For calendar year 2022, we completed 128 transactions with an aggregate deal value in excess of $3 billion. In Q3 + Q4, we completed 56 transactions with an aggregate deal value in excess of $900 million. Below are a few highlighted transactions:
Technology
Mintz advised SYN Ventures as the lead investor in a $13 million Series A financing for SynSaber, an early stage ICS/OT cybersecurity and asset monitoring company. Additional investors included Rally Ventures and Cyber Mentor Fund. Mintz previously represented SYN Ventures as the lead investor in SynSaber's Series Seed financing, as well as in the formation of SYN Ventures' initial $200 million Fund I and its $300 million Fund II.
Life Sciences
Mintz represented CXL Ophthalmics (CXLO), a clinical-stage company developing a minimally invasive treatment for keratoconus, in a $32 million Series A round of fundraising.
The fundraising was led by AXA IM Alts through its Global Health Private Equity strategy and also included additional investors. The funds will support the advancement of CXLO's transformative cross-linking system, EpiSmart®, through Phase 3 trials on the way to a New Drug Application with the FDA.
Energy and Sustainability
Mintz represented Aspen Creek Digital Corporation (ACDC), a renewable Bitcoin mining operator, in its Series A financing led by investors Galaxy Digital and Polychain Capital. Jamie Lee of Tamarack Global, Alex Robertson of Tiger Management, CMT Digital, Luxor Technologies, Mana Ventures, Gaingels, and Copper River Energy Partners also participated in the round.
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