A venture capital firm and a chocolate retailer in western North Carolina have raised capital, according to securities filings.
- Black Mountain-based firm raises $3.5 million in venture capital fund
By Sissy Rodriguez, North Carolina Business News Wire
BLACK MOUNTAIN — KdT Ventures, an early stage venture firm with a focus on the integration of technology and science, has raised $3.5 million in a venture capital fund, according to a filing with the Securities and Exchange Commission.
The money was raised from 22 investors, according to the filing. The firm is seeking to raise a total of $30 million for the fund.
Established in June, KdT Ventures was founded on the principle that advances in technology are allowing mankind to solve problems that were never before addressable. KdT’s overarching goal is to help entrepreneurs turn their own ideas and visions into successful companies through funding and hands-on company development.
‘KdT Ventures Invests in the Future’
From the fund’s website:
“KdT Ventures is an early stage venture firm, with a focus on the intersection of frontier computational technologies and science. Our thesis is that advances in compute are allowing us to solve problems never before addressable, particularly within the life sciences (Chemicals, Agriculture, and Medicine). Our goal is to help entrepreneurs turn their own ideas and visions into successful companies through funding and hands-on company development.”
Investments already made:
- Solugen (Catalysis/Clean H2O2)
- PathAI (Computational Pathology)
Read more at: https://www.kdtvc.com/
The Black Mountain, North Carolina-based company’s main areas of investment include cloud and synthetic biology, computational medicine and digital diagnostics.
Cain McClary is the founder and Managing Partner of KdT Ventures. Over the past 10 years, McClary has been at the forefront of the intersection between technology and science/medicine. In addition to personal investments, including companies such as Firefly Bioworks, Concert Genetics, and PathAI, McClary has been an active advisor to both companies and institutional investors.
Prior to founding KdT, McClary was the lead pathologist, analytics and data science clinical thought leader, and staff physician for Grand Rounds, a San Francisco-based digital health company focused on objectively quantifying physician quality for large self-insured employers.
During his time at Grand Rounds, McClary developed the pathology program to support over 2 million lives, negotiated several high-impact academic and employer relationships, and helped to lead the training team for all onboarding physicians.
- Asheville-based French Broad Chocolates raises $500,000
By Addison Lalier, North Carolina Business News Wire
ASHEVILLE – An Asheville-based chocolate company has raised $500,000 in an equity offering, according to a filing with the Securities and Exchange Commission.
French Broad Chocolates intends to raise $900,000, with $400,000 remaining to be sold, through 11 investors.
The company was founded in 2006 by Dan and Jael Rattigan. The chocolates were initially made in their home kitchen and were sold online and at local farmers markets.
In 2008, French Broad Chocolate Lounge opened in downtown Asheville. In 2012, as demand increased, the Rattigan’s opened French Broad Chocolate Factory and Tasting Room.
The company is focused on sustainability, environmentally friendly practices and being a bean-to-bar business. They are currently in the final stages of becoming a Certified B Corp, and are a three-star Certified Green Restaurant through the Green Restaurant Association.
- VIDEO: Watch a report about French Broad Chocolates at https://www.youtube.com/watch?v=Z27euI5QSVU
Over the past 10 years, French Broad Chocolates has grown from a two-person business to a company that employs over 80 people in the Asheville community.
In August, the company announced it will be relocating to a 12,000-square-foot facility in the spring. The change will enable the chocolatiers to increase annual production from 18 tons to 50 tons.
Additionally, French Broad Chocolates is relocating its creamery, which will allow it to triple production.
In 2017, French Broad Chocolates won four International Chocolate Awards.
The company filed the form on Sept. 18 and did not disclose what it intended to do with the funds.