The past year was one of significant activity, growth and progress for Boyd Street Ventures, our LPs, our portfolio companies and our business partners.
A major event for us in 2024 was our decision to extend our capital raise for Fund I, primarily so we could take advantage of the opportunity to make additional follow-on investments in our best-performing portfolio companies that we believe have an opportunity to exit earlier that we had previously anticipated. We also have a large pipeline of new investment opportunities that we hope to take advantage of as well. We're targeting a total fundraise of $50 million for Fund I by mid-2025.
Another area of significant focus for us this year has been the Venture Studio by BSV, whose advisors deliver de-risking strategic, operational and fundraising advice designed to help our portfolio companies avoid costly mistakes, scale faster, and exit profitably. Leveraging this asset – which differentiates us from most other VCs – enables BSV to wield considerably more influence with portfolio companies than would normally be expected of a minority investor.
Our investment focus remains innovative, early-stage, under-the-radar companies that are pushing the boundaries of the Life Sciences, HealthTech, Fintech and Infrastructure Tech sectors.
We added two portfolio companies – VinSense and Watkins-Conti Products – to Fund I in 2024, bringing our total to 16. We have also made 16 follow-on investments in these companies since our inception. Here is our current portfolio:
Here are some of our many highlights for the past 12 months.
2024 Monthly Highlights
JANUARY
James Spann, BSV Founder & General Partner, was one of 36 entrepreneurs chosen by Ernst & Young for its 2024EY Entrepreneurs Access Network (EAN) cohort. EAN members were selected by an independent panel of executives based on their leadership skills and business acumen as well as their company’s potential for scalability. James was the only venture capital General Partner selected.
We made smart agriculture innovator VinSense our 15th portfolio company. Norman-based VinSense provides breakthrough software and services that reduce grower resource usage and costs while increasing volume and quality.
James was also honored to attend a dinner hosted by Oklahoma Governor Kevin Stittin the Governor's Mansion. The guest of honor was renowned investor Kevin O'Leary, "Mr. Wonderful" of TV's Shark Tank, founder of O'Leary Ventures, and passionate fan of Oklahoma's pro-business climate.
L to R: James Spann, OCAST Executive DIrector Jennifer McGrail, and Kevin O'Leary
FEBRUARY
BSV invested in its 16th portfolio company: Edmond, OK-based Watkins-Conti Products, which pioneers solutions for women's pelvic health. Its flagship product is the first non-surgical device designed to relieve the symptoms of stress urinary incontinence (SUI), a condition that affects nearly 3 in 4 women worldwide.
We made follow-on investments in fintech innovator BossTax and remote patient monitoring innovator HeartCloud.
MARCH
BSV portfolio company Luna, America’s leading in-home physical therapy platform with 3,000+ physical therapists in 55+ markets, racked up two big honors in March. First, Forbes named Luna one of "America's Best Startup Employers." Then Fast Company named Luna to its annual list of the "World’s Most Innovative Companies." Luna was recognized in the Healthcare category, where it secured the #13 spot.
We made follow-on investments in solar panel installation innovator VesprSolar and VinSense.
APRIL
April featured a very special four-day event that will bear fruit for many years to come for BSV, our investors, our portfolio companies, our business partners, our hometown of Norman, and all of Cleveland County. Key activities included:
A press conferenceattended by Oklahoma Governor Kevin Stitt, top officials from Cleveland County, the City of Norman and the University of Oklahoma, and statewide media. Emcees James Spann and Cleveland County Economic Development Coalition President & CEO (and BSV Fund Advisor) Lawrence McKinney announced:
A strategic alliance between BSV and the CCCED to pursue long-term jobs and economic growth for Cleveland County
The creation of a $2 million Cleveland County Centurions Growth Fund to support investments in Cleveland County entrepreneurial organizations
Ongoing collaboration between CCEDC's Startup 405 incubator and the Venture Studio by BSV
An annual Beyond-the-Norm Innovation Week every April – commencing in 2025 – promoting Cleveland County’s spirit of creativity and entrepreneurship
Oklahoma Governor Kevin Stitt
A Fireside Chat hosted by James Spann and featuring the CEOs of three BSV portfolio companies.
L to R: James with the CEOs of BossTax, Wheeler Bio and VesprSolar
A day-and-a-half long BSV CEO Summit involving meetings among our portfolio company CEOs and BSV's advisors, venture partners and management team. A highlight was a presentation and workshop conducted by two Ernst & Young partners on "EY's 7 Drivers of Growth."
The CEO Summit at BSV headquarters
MAY
We announced the extension of our fundraise for Fund I in order to raise scale-up capital for additional follow-on investments in our best-performing portfolio companies and to make new investments as well.
BSV portfolio company Watkins-Conti Products announced that it received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its Yōni.Fit® Bladder Support.
JUNE
We held two important investor relations meetings: a Zoom meeting for our LPs, and a lunch at BSV headquarters, where James Spann gave a presentation to several prospective LPs detailing our Fund I plans.
James and BSV CFO Kendall Tucker attended the NAIC Midsummer VIP Reception in New York City and the Oklahoma Business Roundtable meeting in Tulsa, where they spoke with Governor Stitt.
L to R: Kendall Tucker, BSV Fund Advisor Brian Cantrell, Governor Stitt, James Spann
For the second consecutive year BSV sponsored the PGA's Korn Ferry Tour Compliance Solutions Championship in Norman, where we were able to meet with and entertain current and prospective LPs as well various business partners.
University of Oklahoma (and Ronnie K. Irani Center for the Creation of Economic Wealth) alumna Taylor Potter, Chief Operating Officer of BSV portfolio company and fintech innovator Ardley, was named one of "The Most Powerful Women in Fintech" by Progress in Lending.
We held our quarterly Investment Committee meeting to review potential follow-on and new investments.
JULY
Taylor Potter isn't the only OU and I-CCEW alumna doing great things at Ardley. Haley Rader, Ardley's Head of Product, was named one of Housingwire's "Women of Influence."Housingwire cited the fact that in the prior 12 months, Haley directed a project load that includes two national new product launches (Autopilot and Navigator) and one beta launch (Forecast).
AUGUST
Kendall Tucker was promoted to BSV's Chief Financial Officer. Kendall joined us the prior August us from Goldman Sachs, where she was Vice President in the Controllers Division. She holds a B.S. degree in Accounting from the University of Oklahoma and an M.S. degree in Accounting from the University of Texas at Dallas.
We held our quarterly Investment Committee meeting to review potential follow-on and new investments.
We held our first tailgate of 2024 at our Campus Corner headquarters prior to the Sooner football team's season opener.
SEPTEMBER
BSV portfolio company and femtech innovator Myri Health was named a semi-finalist for the HITLAB Women's Health Fall Challenge to be held in October. It gets better: In October Myri Health WON the competition for the pre-seed class!
We held three more tailgates at our Campus Corner headquarters.
OCTOBER
Myri Health received another huge honor when it was one of only 250 companies selected out of over 16,000 worldwide to compete in the 2024 Entrepreneurship World Cup at BibanGlobal in Riyadh, Saudi Arabia.
BSV portfolio company and biotech innovator Cadenza Bio announced the receipt of a grant from the Oklahoma Center for the Advancement of Science & Technology (OCAST) to extend their robust data in standard Multiple Sclerosis (MS) animal models to evaluate potential benefits in more progressive forms of the disease.
VesprSolar received an order from the #2 installer in the industry to provide three million clips for one of the largest solar infrastructure projects in the country.
We held our fourth consecutive Red River Rivalry Reception in Dallas the night before the Sooners-Texas football game, which always gives us a great opportunity to connect and reconnect with current and prospective LPs as well as University of Oklahoma leaders.
L to R: OU President Joseph Harroz, Jr.; OU Regent Rick Braught; BSV Fund Advisor Lisa Risser; and James Spann. (Jeff Moore can be seen in the background speaking with President Harroz’s wife Ashley.)
NOVEMBER
On November 22 - the day before the Sooners' big upset victory over Alabama - we held the first event produced by our Boyd Street Exchange, which we created to promote job and economic growth in Oklahoma. The invitation-only "Oklahoma Entrepreneurial Technology Symposium" drew over 100 business, government and university leaders and investors to Norman's beautiful NOUN Hotel to observe a series of discussions about Oklahoma's evolving venture capital and commercialization ecosystem. The event included lunch, a keynote address, three discussion sessions that included lively Q&As with the audience, and a cocktail reception. Below are the event's highlights.
Our event got off to an energetic start with a very engaging keynote address by Oklahoma Lieutenant Governor Matt Pinnell. The Lieutenant Governor emphasized the importance of entrepreneurialism to the state's jobs and economic growth, as well as the administration's commitment to making Oklahoma an attractive location for new business. He even predicted the Sooners' victory over Alabama!
Oklahoma Lt. Governor Matt Pinnell
James Spann held a very insightful fireside chatwith Scott Meacham. Scott, who is currently a Director at the law firm of Crowe & Dunlevy, is uniquely qualified to speak on the impact of entrepreneurialism on the state's growth, having served in positions that include Treasurer, Secretary for Finance and Revenue, and Finance Director for the State of Oklahoma, CEO of i2E, and CEO of the First National Bank & Trust of Elk City. Among other things, he and James discussed Oklahoma's impressive history of innovation and the state's promising prospects for continuing that proud tradition.
James Spann (L) and Scott Meacham (R)
BSV Co-Founder & Strategic Advisor Jeff Moore led a stimulating banking panel discussion with three of Oklahoma's leaders in banking innovation: Jill Castilla, President and CEO of Citizens Bank of Edmond; Chelsea Puckett, Senior Vice President of Strategic Payments Systems at Stride Bank; and Sean Kouplen, Chairman & CEO of Regent Bank. The group discussed a wide range of innovations in Oklahoma's banking industry that are creating valuable benefits for customers and contributing to the growth of the state's economy.
L to R: Jeff Moore, Jill Castilla, Chelsea Puckett, Sean Kouplen
James Spann led an insightful CEO discussion with executives from three of BSV's portfolio companies: Taylor Potter, COO of Ardley; Dr. Pinkey Patel, Founder & CEO of Myri Health; and Dr. Scott Rollins, Co-Founder & CEO of pharmaceutical innovator Moat Biotechnology. The three entrepreneurs shared insights about their companies' successes as well as the challenges of attracting the interest of Oklahoma investors who currently invest primarily outside the state.
L to R: James Spann, Taylor Potter, Dr. Pinkey Patel, Dr. Scott Rollins
Our co-sponsors for the event were Regent Bank, the Oklahoma Business Roundtable and CCEDC's Startup 405. We look forward to holding more Boyd Street Exchange events promoting venture capital's role in driving jobs and economic growth for the Sooner State in the months and years to come.
Earlier in the month, James attended the EY Strategic Growth Forum,, a gathering of visionary leaders and innovators featuring thought-provoking panels and one-on-one conversations with peers, investors, and entrepreneurs. The event served as a reminder of the power of collaboration and the vital role venture capital plays in driving growth and innovation.
James speaking at the Strategic Growth Forum
Strategic Growth Forum attendees; James is 3rd from the right in the front row
DECEMBER
Healthcare IT News published an extensive article about a University of Oklahoma College of Medicine clinical trial showing that BSV portfolio company IV Ensure reduced 30-day readmissions by 76%. These results support IV Ensure's ability to significantly enhance the health of home IV infusion patients and reduce costs for providers and payer.
Looking Forward
As we head into 2025, we will continue to aggressively pursue our $50 million goal for our Fund I raise in order to capitalize on what we believe are outstanding opportunities for both follow-on and new investments.
As always, we will also count on the exceptional advisors in our Venture Studio by BSV to continue to enhance the performance of our portfolio companies and ultimately enhance the returns generated for our LPs.
It’s no secret that the past two years have been challenging for the venture studio industry, which makes the fact that we have been able to raise nearly $23 million during this time quite encouraging. Moreover, most financial market pundits are predicting a considerably more favorable environment for both fundraising and exits for 2025 and beyond, and we share in that optimism.
Thank You
Finally, a very sincere and heartfelt thank-you to everyone who made the progress detailed above possible: our LPs, our portfolio companies, our advisors, our venture partners, our business partners and our management team. We look forward to even greater success in 2025 and beyond as we pursue our vision of helping brilliant entrepreneurs achieve their dreams and our investors earn healthy returns.
Best regards,
James Spann Jeff Moore
Founder & General Partner Co-Founder & Strategic Advisor
Founder & General Partner James Spann (L) and Co-Founder & Strategic Advisor Jeff Moore (R)
IMPORTANT DISCLOSURE: Boyd Street Ventures, LLC is a venture capital firm. BSV and its funds are not sponsored by, affiliated with, or otherwise endorsed by any school. Past performance is not indicative of future results. BSV’s funds are very long-term investments that involve substantial risk of loss, including loss of all capital invested. For informational purposes only; not an offer to sell or a solicitation of an offer to purchase, any security. Offers of securities are made only to accredited investors pursuant to a fund’s offering documents, which describe the risks, fees and other information that should be considered before investing. Examples of portfolio company investments are provided for illustrative purposes only; there is no guarantee that any fund will invest in or achieve the same exposure to, or quality of, companies held by any existing fund. Contact investorrelations@boydstreeetventures.com for additional information.
Boyd Street Ventures, 331 W. Boyd Street, Norman, OK 73069
