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Epic Ventures company logo
Venture Capital
epicvc.com

Investments

264

Portfolio Exits

53

Funds

9

Partners & Customers

1

About Epic Ventures

Epic Ventures, formerly Wasatch Ventures, was formed in 1994 and is a early-stage technology-focused venture capital firm. Epic invests in early-stage technology companies and manages four funds with over $170 million in capital under management. Since its inception, Epic has completed 20 successful exits, including five IPOs and 15 acquisitions. Headquartered in Utah, Epic also maintains offices in Idaho and New Mexico. Epic was founded by Zions Bancorporation and is a Partner Fund in the DFJ Global Network.

Headquarters Location

15 West South Temple Suite 500

Salt Lake City, Utah, 84101,

United States

801-524-8939

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Latest Epic Ventures News

Noetik: AI-Native Biotechnology Company Closes $14 Million In Funding

Sep 12, 2023

Noetik – an AI drug discovery company utilizing machine learning and proprietary human data to develop precision therapeutics in immuno-oncology – recently announced that it closed an oversubscribed $14M seed financing round led by DCVC, with participation from Zetta Venture Partners, 11.2 Capital, Catalio Capital Management, Epic Ventures, Intermountain Ventures, North South Ventures, Chau Khuong and CJNV BioVentures, Enveda Founder and CEO, Viswa Colluru and Hummingbird Nomads Fund, and Recursion CEO & CFO, Chris Gibson and Michael Secora. Noetik built an industry-defining multimodal tissue profiling platform that combines self-supervised learning with spatial biology to tackle fundamental problems in cancer immunology. In under 12 months of operations Noetik has generated hundreds of terabytes of human data across a data stack that includes genomics, transcriptomics, and proteomics to enable the development of foundation models for cell and tissue biology. This funding round will support Noetik’s significant internal data generation efforts and the continued development of transformer-based machine learning methods. From these data, the company aims to rapidly initiate target and therapeutics discovery. And the funding will also be used to expand Noetik’s team in machine learning, computational biology, and cancer immunology. Noetik’s founding leadership team includes Lacey Padron, Ph.D., Chief Technical Officer, who was previously VP Informatics at the Parker Institute for Cancer Immunotherapy. At the Parker Institute, Dr. Padron focused on using integrated multiomic data analysis to uncover biomarkers, mechanisms of action, and novel therapies from cancer immunotherapy patient data. She also led the development of a best-in-class data platform to store, integrate, and analyze data from 20+ molecular data types with detailed clinical outcomes and annotation. KEY QUOTES: “The microscope enabled a view of nature at the cellular level, now advanced AI methods provide us with a view of nature at the systems level. We can integrate molecular, cellular, and tissue information to discover novel therapeutic targets and study patients’ response to immunotherapies. Science has tended to remove complexity and simplify problems for human understanding, but now using modern machine learning we embrace natural complexity to discover more relevant representations of biology. We are here to make cancer drugs. Our commitment to patients is to discover better cancer therapeutics that have a higher probability of clinical success, using the most advanced computational tools.” — Ron Alfa, M.D., Ph.D., CEO & Co-Founder, Noetik “Technology will have the greatest impact on therapeutics by enabling better prediction of clinical success of new oncology therapies. The biggest bottleneck is clinical failure, with an ever-growing discovery funnel. Using machine learning, Noetik can discover the circuit diagram of tumor biology to unlock the next generation of precision oncology for end-to-end therapeutics discovery.” — James Hardiman, General Partner, DCVC “The first generation of AI drug discovery was built on supervised learning which relies on human labels that are difficult to scale and limited by existing knowledge. Recent advances in self-supervision allow AI to learn directly from data and build internal representations of biology untethered to existing models of disease. This creates an opportunity to rethink the role of AI in drug development and build new platforms that use foundation models to encode and extract insights from machine-learned biology. We are excited to work with Noetik to apply these ideas to oncology and develop the next-generation of precision therapies.” — Dylan Reid, Partner, Zetta Venture Partners “We founded Noetik not only to conduct impactful science, but to bring together some of the most talented people in the industry to build the ML-enabled therapeutics company of the future. One of the most challenging aspects of bringing together biology and machine learning is building exceptional interdisciplinary teams. We’re recruiting a world-class, deeply technical team that have built in this space and are passionate to work on solving hard problems to make an impact for patients.” — Jacob Rinaldi, Ph.D., CSO & Co-Founder, Noetik Trending on Pulse 2.0

Epic Ventures Investments

264 Investments

Epic Ventures has made 264 investments. Their latest investment was in Noetik as part of their Seed VC - II on September 9, 2023.

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Epic Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/7/2023

Seed VC - II

Noetik

$14M

Yes

2

8/9/2023

Seed VC

Qualiti

$6.5M

Yes

4

7/27/2023

Series A

Fitted Retail

$8.5M

No

1

7/10/2023

Series A

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$99M

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10

6/21/2023

Seed VC - II

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$99M

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10

Date

9/7/2023

8/9/2023

7/27/2023

7/10/2023

6/21/2023

Round

Seed VC - II

Seed VC

Series A

Series A

Seed VC - II

Company

Noetik

Qualiti

Fitted Retail

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Amount

$14M

$6.5M

$8.5M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Sources

2

4

1

10

10

Epic Ventures Portfolio Exits

53 Portfolio Exits

Epic Ventures has 53 portfolio exits. Their latest portfolio exit was Trelora on December 12, 2022.

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

12/12/2022

Acquired

$99M

8

4/1/2022

Acquired

$99M

8

11/18/2021

Acquired

$99M

7

9/23/2021

Acquired

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$99M

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10

8/27/2021

Reverse Merger

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$99M

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10

Date

12/12/2022

4/1/2022

11/18/2021

9/23/2021

8/27/2021

Exit

Acquired

Acquired

Acquired

Acquired

Reverse Merger

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

8

8

7

10

10

Epic Ventures Fund History

9 Fund Histories

Epic Ventures has 9 funds, including Epic Ventures V.

Closing Date

Fund

Fund Type

Status

Amount

Sources

11/14/2016

Epic Ventures V

Early-Stage Venture Capital

Closed

$51.55M

1

1/31/2011

Epic Ventures IV

$99M

10

4/30/2010

Epic Venture Fund IV

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$99M

10

9/30/2004

Wasatch New Mexico Fund

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$99M

10

12/31/2001

Wasatch Venture Fund III

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$99M

10

Closing Date

11/14/2016

1/31/2011

4/30/2010

9/30/2004

12/31/2001

Fund

Epic Ventures V

Epic Ventures IV

Epic Venture Fund IV

Wasatch New Mexico Fund

Wasatch Venture Fund III

Fund Type

Early-Stage Venture Capital

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Status

Closed

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Amount

$51.55M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

Epic Ventures Partners & Customers

1 Partners and customers

Epic Ventures has 1 strategic partners and customers. Epic Ventures recently partnered with Lux Capital on September 9, 2008.

Date

Type

Business Partner

Country

News Snippet

Sources

9/8/2008

Partner

United States

EPIC Venture Fund Third Quarter 2008 Newsletter.

EPIC Ventures partnered with New Venture Partners , Sigma Partners , Lux Capital , and Draper Fisher Jurvetson to invest in Everspin Technologies , a company spun off from Freescale Semiconductor that focuses on the development of MRAM , which stands for magnetoresistive random access memory , and will potentially advance computer memory technology with more power and dependability .

1

Date

9/8/2008

Type

Partner

Business Partner

Country

United States

News Snippet

EPIC Venture Fund Third Quarter 2008 Newsletter.

EPIC Ventures partnered with New Venture Partners , Sigma Partners , Lux Capital , and Draper Fisher Jurvetson to invest in Everspin Technologies , a company spun off from Freescale Semiconductor that focuses on the development of MRAM , which stands for magnetoresistive random access memory , and will potentially advance computer memory technology with more power and dependability .

Sources

1

Epic Ventures Team

8 Team Members

Epic Ventures has 8 team members, including current Founder, Managing Director, Nick Efstratis.

Name

Work History

Title

Status

Nick Efstratis

Founder, Managing Director

Current

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Name

Nick Efstratis

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Work History

Title

Founder, Managing Director

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Status

Current

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