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Private Equity
forepont.com

Investments

5

Funds

1

About Forepont Capital Partners

Forepont Capital Partners invests in technology, m-health, and life sciences companies. It also offers wealth management services including asset management and investment banking.

Headquarters Location

590 Madison Avenue 9th Floor; B2

New York, New York, 10022,

United States

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Latest Forepont Capital Partners News

Precision Neuroscience Raises $41 Million to Build and Scale the Next Generation of Treatments for Neurological Illnesses

Jan 26, 2023

Venture Capital News | Private Equity News venture capital directory | private equity directory Venture Capital Firms List / Venture Capital & Private Equity Firms and Sources Published since 1998, VCPro Database is the most reliable, up-to-date and affordable venture capital directory 2023 New Edition Now Available! (Updated JANUARY 2023) VCPro Database 2023 26th Edition — a downloadable and searchable venture capital database with 6,900+ venture capital and private equity firms worldwide. The most reliable, up-to-date and affordable venture capital directory of its kind. VCPro Database is available in both Windows and macOS versions. It has been published since 1998. Precision Neuroscience Raises $41 Million to Build and Scale the Next Generation of Treatments for Neurological Illnesses The brain–computer interface company advances the industry with plans for a minimally invasive, reversible implant. NEW YORK, January 25, 2023-- Precision Neuroscience Corporation, the only brain–computer interface (BCI) company developing implants that are designed to be high-resolution, minimally invasive, and reversible, today announced a $41 million Series B funding round led by Forepont Capital Partners. Mubadala Capital, Draper Associates, Alumni Ventures, and re.Mind Capital also participated in the round, alongside existing investors Steadview Capital and B Capital Group. The new financing enables Precision to continue hiring top talent, while powering further product development and paving the road to FDA regulatory review, expected in the coming months. The latest investment brings the company’s total funding to $53 million in under two years. “We imagine a world where devastating neurological conditions – stroke, traumatic brain injury, dementia – are finally treatable,” Michael Mager, CEO of Precision Neuroscience, said. “To reach this world, brain–computer interface technology needs to progress out of the lab and into the clinic. Precision is excited to take on that challenge.” According to the American Neurological Association, nearly 100 million people in the U.S. alone suffer from neurological conditions ranging from migraines to Parkinson’s disease. Precision develops life-changing implants designed to restore neurological function for these individuals. Precision’s implant, the Layer 7 Cortical Interface, is a strip of flexible, thin film material – similar to a piece of Scotch tape, but with a thickness that is 1/5th that of a human hair. It is configured to conform to the surface of the brain without damaging tissue, and can be implanted using a proprietary, minimally invasive cranial micro-slit technique. Precision’s device is the only BCI implant that is engineered to be safely removable. Unlike other minimally invasive approaches, it can process large amounts of data; each microelectrode array comprises 1,024 electrodes, with electrode density 600 times greater than standard cortical arrays. The company holds more than 25 patents and pending patents on its innovative technology. The brain–computer interface industry is undergoing a period of active growth and development, touched off by crucial advances in microfabrication, machine learning, and microelectronics. Co-founded in 2021 by neurosurgeon Ben Rapoport, Precision has assembled some of the top talent in the field. Within two years of the company’s founding, the team has already validated its high-resolution brain–computer interface system and is advancing towards clinical trials in 2023. “Forepont is proud to lead Precision Neuroscience’s Series B raise to support the advancement of Precision’s cutting-edge technology,” Eric Attias, founder and managing partner of Forepont Capital Partners, said. “Precision is pioneering a BCI product that we believe will achieve patient outcomes that were previously thought to be impossible.” About Precision Neuroscience: Precision Neuroscience’s goal is to provide breakthrough treatments for the one billion people worldwide suffering from neurological illnesses. We are building the only brain–computer interface that is designed to be minimally invasive, safely removable, and capable of processing large amounts of data. To learn more about how Precision is connecting human intelligence and artificial intelligence, visit www.precisionneuro.io. Contact:

Forepont Capital Partners Investments

5 Investments

Forepont Capital Partners has made 5 investments. Their latest investment was in Precision Neuroscience as part of their Series B on December 12, 2022.

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Forepont Capital Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/19/2022

Series B

Precision Neuroscience

$41M

Yes

7

5/28/2021

Series B

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$99M

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10

5/18/2021

Series A

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$99M

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10

Other Investors

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0

Other Investors

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0

Date

12/19/2022

5/28/2021

5/18/2021

Round

Series B

Series B

Series A

Other Investors

Other Investors

Company

Precision Neuroscience

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Amount

$41M

$99M

$99M

New?

Yes

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Co-Investors

Sources

7

10

10

0

0

Forepont Capital Partners Acquisitions

1 Acquisition

Forepont Capital Partners acquired 1 company. Their latest acquisition was BeCareLink on May 14, 2021.

Date

Investment Stage

Companies

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

Total Funding

Note

Sources

5/14/2021

Other

$99M

Acq - Fin

2

Date

5/14/2021

Investment Stage

Other

Companies

Valuation

$99M

Total Funding

Note

Acq - Fin

Sources

2

Forepont Capital Partners Fund History

1 Fund History

Forepont Capital Partners has 1 fund, including Forepont Capital Partners Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

4/21/2021

Forepont Capital Partners Fund II

$130M

1

Closing Date

4/21/2021

Fund

Forepont Capital Partners Fund II

Fund Type

Status

Amount

$130M

Sources

1

Forepont Capital Partners Team

2 Team Members

Forepont Capital Partners has 2 team members, including current Managing Partner, Eric M. Attias.

Name

Work History

Title

Status

Eric M. Attias

Union Bancaire Privee, Nexar Capital Group, Societe Generale Group, and Dresdner Kleinwort

Managing Partner

Current

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Name

Eric M. Attias

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Work History

Union Bancaire Privee, Nexar Capital Group, Societe Generale Group, and Dresdner Kleinwort

Title

Managing Partner

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Status

Current

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