Investor And Director
Kegonsa Seed Fund
Five (5/12) exits out of 12 investments, as of August, 2023, with one portfolio company remaining. I consider myself fortunate to have participated in the $10 million Kegonsa venture capital seed fund, as I continued to understand the time, patience, and resources required to take it all the way, from startup to exit. I observed the leader of Kegonsa support the portfolio firms and CEO's in a consistent, longterm and principled manner. I believe Kegonsa management is fundamentally responsible for the extraordinary performance to-date, and the continuing portfolio company. Kegonsa made investments in 12 early stage businesses across numerous technologies. The first exit was a 2007 transaction in which Microsoft acquired portfolio company Jellyfish for $50 million. Portfolio company IBIS was sold in 2012, followed by IdleFree in 2014. In 2017, Kegonsa portfolio company Networked Insights was acquired for an undisclosed price (at considerably more than the $77 million in capital raised). Mark Nottoli invested directly and served on the board as a director in NanoMedex Pharmaceuticals, a Kegonsa portfolio company. NanoMedex had licensed a technology from UFRF and underwent 13 years of research and development efforts, supported in part with several millions of dollars of grants from NIH. In the end, NanoMedex ultimately failed, despite extraordinary efforts from Kegonsa to find solutions, to seek partners and to leave virtually no-stoned-unturned