Cardialen, Inc. announced that it has received $17 million in funding from RiverVest Venture Partners, LLC, Qiming Weichuang Venture Capital Management Company Limited, Cultivation Capital, HBM Partners Ltd., nebag ag, and other investors
October 10, 2018
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On October 10, 2018, Cardialen, Inc. closed the transaction. The company has received total of $17,000,000 in its series B round of funding led by new investor RiverVest Venture Partners, LLC. The company has received $927,953 in the final tranche. The transaction also included participation from new investors Qiming Weichuang Venture Capital Management (Shanghai) Company Limited, returning investor Cultivation Capital, and HBM Healthcare Investments AG (SWX:HBMN), a fund managed by nebag ag (SWX:NBEN) and HBM Partners Ltd. As part of the round, Jay Schmelter of RiverVest Venture Partners, LLC, Christopher Shen of Qiming Weichuang Venture Capital Management (Shanghai) Company Limited and Thomas Thaler, of nebag ag (SWX:NBEN) and HBM Partners Ltd. joined the company's board of directors.
Nebag ag is a Switzerland-based investment company that invests in Swiss small and mid caps. In addition to investing in equity, the Company provides outside capital financing to specifically targeted companies. nebag ag also offers mezzanine capital, which consists of a mixture of outside capital and its own capital, in the form of convertible bonds for shares, discounted to their nominal value. The Company's investment portfolio consists of minority investments in companies from the banking sector, industry/wholesale, tourisms/recreation, semi luxury food and beverages, energy and financial sectors, among others. Furthermore, it holds minority stakes in Typon Holding AG, Biella-Neher Holding AG, Plaston Holding AG, Thurella AG, Rapid Holding AG and Usines Metallurgiques de Vallorbe SA.
Cardialen, Inc. announced that it has received $17 million in funding from RiverVest Venture Partners, LLC, Qiming Weichuang Venture Capital Management Company Limited, Cultivation Capital, HBM Partners Ltd., nebag ag, and other investors