Sanguine Closes Seed Financing, Led by INVENT Ventures and Heliant Ventures
Deal Continues INVENT’s Series of Investments in Emerging Technology Businesses
SANTA MONICA, Calif., March 7, 2013 /PRNewswire/ — INVENT Ventures, Inc. (OTC QB: IDEA), a seed-stage venture fund and technology incubator, today announced that it has led the seed financing round in Sanguine BioSciences, a biotechnology company empowering patients in biomedical research. Along with INVENT, Heliant Ventures, a VC technology fund, jointly led the round of investment in Sanguine.
INVENT’s investment in Sanguine keeps with its strategy of building and investing in evolving and rapidly growing companies. In addition to Sanguine BioSciences, which supplies DNA data and bio-specimen to research organizations for the development of personalized medicines, INVENT has also developed Virurl Inc., one of the early pioneers in native advertising. Virurl builds tools and technologies to create native advertising campaigns, and has raised $1.2M in seed financing to date. Since formation in 2010, INVENT has built six technology companies, which have raised over $3.5M at an aggregate valuation over $10M, with under $450K of capital investment.
“We are thrilled to invest in Sanguine alongside Heliant Ventures and to further reinforce our holdings in what we believe are the next generation of exciting young technology companies,” said Bryce Knight, CEO of INVENT. “With Sanguine, Virurl and our other portfolio companies, we have strong positions in technology businesses that are readily scalable, and we believe that each has the potential to go public if they elect to. Considering the vast value creation ability of technology companies, private and public investors alike are looking for exposure to early-stage technology, and we are very excited to be in a position to fulfill this need.”
About INVENT Ventures, Inc.
INVENT Ventures Inc. (IDEA) is a publicly traded venture fund that builds and invests in transformative technology businesses. INVENT pursues ventures in the consumer Internet, mobile and biotechnology markets, and has built six companies at various stages of development. INVENT is headquartered in Santa Monica, California in the renowned Silicon Beach area. For more information on INVENT, visit invent.vc
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