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Venture Capital
atwpartners.com

Investments

13

Portfolio Exits

2

Funds

4

About ATW Partners

ATW Partners is a New York-based investment firm that manages a dedicated hybrid private equity/venture capital fund as well as co-investment vehicles.

Headquarters Location

17 State Street

New York, New York, 10004,

United States

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Latest ATW Partners News

Faraday Future Announces New Executives and Funding Following 25% Pay Cut

Oct 27, 2022

Pandaily The company said it has received all of the previously announced $55 million in financing (other than $5 million in additional bridge notes) from an affiliate of ATW Partners LLC as expected, and that it anticipates receiving the first $10 million under the previously announced $60 million financing agreement this week. Prior to joining Faraday Future, Han was Senior Vice President and Chief Accounting Officer at Romeo Power, a battery technology company. She was also previously Vice President and Controller at Immunity Bio, and has held senior accounting and finance positions at various companies. Yun Han, Chief Accounting Officer and interim Chief Financial Officer of Faraday Future (Source: Faraday Future) The automaker, which was founded by Jia Yueting, was once on the verge of bankruptcy. However, last month, Jia led FF Top Holding LLC, a major shareholder of the firm, in a successful reorganization of the company’s board. Under the arrangement, Sue Swenson, the executive chairman, and Brian Krolicki, the former chairman, would resign, while Jia and the partner team would regain control of the company. Faraday Future announced a pay reduction plan in an email to employees last week, with all staff taking a 25 percent pay cut lasting from November 1 to the end of the year. The company also laid off dozens of employees earlier this month. It recently reported holding $39 million in cash as of September 21, down from about $47 million at the end of August. On August 16, the firm’s second-quarter financial results showed that its operating loss increased to about $137 million in the second quarter of this year from about $28 million in the same period last year, and its net loss increased to $142 million from $52.775 million in the same period last year. As a company founded eight years ago, Faraday Future has yet to officially deliver its first car, and in a filing with the US Securities and Exchange Commission, the company made clear that it doesn’t plan to start delivering its first electric car, the FF 91, in the third or fourth quarter of this year. This means that FF 91’s delivery has been delayed again. Faraday Future posted a photo of its production line on October 18 and said the FF ieFactory continued to install production equipment and begin pre-production testing. Company officials also showed off an FF91 frame on the assembly line as proof that it was actually making cars. Sign up today for 5 free articles monthly! Sign in with google

ATW Partners Investments

13 Investments

ATW Partners has made 13 investments. Their latest investment was in SpinLaunch as part of their Series B on September 9, 2022.

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ATW Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/16/2022

Series B

SpinLaunch

Yes

4

8/15/2022

PIPE - IV

Faraday Future

$52M

No

7

11/2/2021

Series B - II

PierianDx

$30M

No

11

6/8/2021

Series G

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$99M

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10

2/24/2021

Series C

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$99M

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10

Date

9/16/2022

8/15/2022

11/2/2021

6/8/2021

2/24/2021

Round

Series B

PIPE - IV

Series B - II

Series G

Series C

Company

SpinLaunch

Faraday Future

PierianDx

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Amount

$52M

$30M

$99M

$99M

New?

Yes

No

No

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Co-Investors

Sources

4

7

11

10

10

ATW Partners Portfolio Exits

2 Portfolio Exits

ATW Partners has 2 portfolio exits. Their latest portfolio exit was PierianDx on January 12, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/12/2023

Merger

$99M

2

7/22/2021

Reverse Merger

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$99M

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10

Date

1/12/2023

7/22/2021

Exit

Merger

Reverse Merger

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

2

10

ATW Partners Fund History

4 Fund Histories

ATW Partners has 4 funds, including FF VENTURES SPV IX.

Closing Date

Fund

Fund Type

Status

Amount

Sources

11/12/2020

FF VENTURES SPV IX

$27.6M

1

8/7/2020

ATW Opportunities Master Fund

$99M

10

7/31/2017

ATW Master Fund I LP

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$99M

10

ATW Master Fund II LP

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10

Closing Date

11/12/2020

8/7/2020

7/31/2017

Fund

FF VENTURES SPV IX

ATW Opportunities Master Fund

ATW Master Fund I LP

ATW Master Fund II LP

Fund Type

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Status

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Amount

$27.6M

$99M

$99M

Sources

1

10

10

10

ATW Partners Team

3 Team Members

ATW Partners has 3 team members, including , .

Name

Work History

Title

Status

Bobby Aitkenhead

Founder

Current

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Name

Bobby Aitkenhead

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Work History

Title

Founder

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Status

Current

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