Welcome to our August Newsletter, which includes the following features:
Fund I Update
A History of Follow-on Investments
Kendall Tucker Promoted to CFO
BSV Fund Advisory Board Member Profile
New Support from the Venture Studio by BSV
We hope you enjoy this issue!
Fund I Update
As you know from recent emails, we've extended Fund I until December 31, 2024. (Sub-docs are due then; funds are due no later than 3/31/25.) To date we've raised close to $25 million, and our goal is to bring our total fundraise up to $50 million. We recently engaged the services of an investment bank to help identify prospective new investors in the Fund.
We've had several promising initial meetings with both institutional and individual prospective investors, and we have many more scheduled in the upcoming weeks and months,
In addition to allowing you to take advantage of these planned follow-on and new investments, becoming an LP of BSV Fund I brings all the rights and benefits as Day One investors.
To schedule a Zoom call with BSV Founder & General Partner James Spann to learn more about Fund I, just click the button below to let his Executive Assistant, Eliza McCloy, know what days and times work for you.
To date, we've invested in 16 companies. We've also made a total of 16 follow-on investments in 9 of those companies:
Luna - 5
BossTax - 2
HeartCloud - 2
Wheeler Bio - 2
Ardley - 1
Moat Biotechnology - 1
Myri Health - 1
VesprSolar - 1
VinSense - 1
We're proud of the fact that in the less than two-and-a-half years since our Fund I launch, our Investment Committee has deemed over half of our portfolio companies to be worthy of at least one follow-on investment. Here's a brief summary of those 9 companies:
Attempting to leverage a game-changing SC-AdVax platform licensed from Mayo Clinic to allow vaccines to confront viruses where they first enter the body: the nasal passage.
Harnesses remote patient monitoring (RPM) of blood pressure monitors, glucose monitors, heart monitors, body composition monitors and more to greatly enhance patient health as well as provider profitability.
Breakthrough software and services reduce grower usage and costs of water, electricity, labor and other resources while increasing volume and quality.
While making follow-on investments in such innovative companies as these - as well as some of our other portfolio companies - will represent the main usage of the additional funds we raise, we'll likely also invest in one-to-three new portfolio companies.
Kendall Tucker Promoted to CFO
Earlier this month Kendall Tucker, our VP of Finance for the past year, was promoted to Chief Financial officer.
Kendall has made a truly significant impact in the past year, providing outstanding support to our firm, our investors, and our portfolio companies.
Kendall joined us from Goldman Sachs, where she served as Vice President in the Controllers Division. Previously, she held key positions at Riveron, Standish Management and KPMG. Kendall holds a B.B.A. in Accounting from the University of Oklahoma and an M.S. in Accounting from the University of Texas at Dallas.
BSV Fund Advisory Board Member Profile
Which of these three prestigious titles would you most like to have in front of your name: “Doctor,” “General” or “CEO”? Apparently Elder Granger couldn’t choose just one, because he holds all three titles. His first title was “Doctor,” which he earned after graduating from the University of Arkansas College of Medicine with a Doctor of Medicine degree in 1980. He had begun his march toward the title of “General” nine years earlier, when he completed the Reserve Officer Training Corps (ROTC) program while pursuing his undergraduate studies in Zoology and Animal Biology at Arkansas State University. By the time he retired after 37 years of military service, he had achieved the rank of Major General. Soon thereafter, he founded THE 5Ps, LLC and assumed his third title: “CEO.” Throughout his military career, Dr. Granger held several pivotal roles in both medical and operational capacities, demonstrating exceptional leadership, dedication and courage. His military journey included service as a battalion surgeon during Operation Desert Storm, where he provided critical medical support during combat operations. His leadership skills were further tapped during Operations Enduring Freedom and Iraqi Freedom. There he served as the Commanding General of the 44th Medical Command and the Command Surgeon for U.S. Central Command, playing a crucial role in the medical care of our troops.
In addition to his combat-related duties, Dr. Granger's military career included significant leadership roles in various prestigious assignments:
Commander, European Regional Medical Command and Command Surgeon, U.S. Army Europe. Based in Heidelberg, Germany, Dr. Granger oversaw medical operations across Europe.
Commander, Task Force 44th MEDCOM, Multinational Corps Iraq Surgeon. Based in Baghdad, Iraq, Dr. Granger directed all medical services during critical phases of Operation Iraqi Freedom.
Commanding General, 44th Medical Command/18th Airborne Corps Surgeon. Based in Fort Bragg, NC, Dr. Granger simultaneously served as both the Commanding General of the 44th Medical Command and the Surgeon for the 18th Airborne Corps.
Deputy Director and Program Executive Officer, TRICARE Management Activity/Chief Operating Officer. Working within the Office of the Assistant Secretary of Defense for Health Affairs in Washington, D.C., Dr. Granger oversaw the delivery of comprehensive healthcare services to military personnel and their families.
Following his distinguished military career, Dr. Granger founded THE 5Ps, where he currently serves as President and CEO. Based in Centennial, Colorado, THE 5Ps is a consulting firm specializing in healthcare, leadership, data analytics, healthcare compliance, and clinical trials. In this capacity, Dr. Granger is responsible for business development, strategic consulting, thought leadership coaching, and mentoring. His firm caters to a diverse clientele, including healthcare organizations, government agencies, educational institutions, private sector companies, and nonprofit organizations. (In case you’re wondering, THE 5Ps are People, Process, Prevention, Price and Productivity.) Dr. Granger's unique “triple threat” background as a medical, military and business leader makes him a highly sought-after consultant, speaker, and thought leader in the healthcare and leadership arenas. Needless to say, we are thrilled to have him as a Boyd Street Ventures Fund Advisor.
New Support from the Venture Studio by BSV
The Venture Studio by BSV is one of the most important ways in which Boyd Street Ventures is differentiated from other venture capital firms. It provides hands-on strategic and operational support and resources that enhance the success of our portfolio companies. The Venture Studio by BSV's structured methodologies, expert guidance, and dedicated resources are tailored to help startups operate more efficiently, scale rapidly, and achieve profitable exits.
Under the leadership of Interim Director Mia Jackson, the Venture Studio by BSV recently initiated the BSV CEO Series of Zoom sessions that provide the latest thinking on important business-related issues to the CEOs and staffs of our portfolio companies.The first three topics were:
"Fundraising Tactics"
"Sales Acceleration"
"How to Leverage AI"
The topic of the next session will be "Strategic Partnerships."
