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Venture Capital
morningside.com

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Investments

207

Portfolio Exits

30

About Morningside Technology Ventures

Morningside Technology Ventures is a private equity and venture capital group founded in 1986 by the Chan family in Hong Kong.

Morningside Technology Ventures Headquarter Location

Hong Kong

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Expert Collections containing Morningside Technology Ventures

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find Morningside Technology Ventures in 1 Expert Collection, including Genomics.

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Genomics

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Investors that invest in genomics AND have made at least 10 investments (across sectors) in the past 12 months

Research containing Morningside Technology Ventures

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CB Insights Intelligence Analysts have mentioned Morningside Technology Ventures in 2 CB Insights research briefs, most recently on Jul 8, 2021.

Latest Morningside Technology Ventures News

Semios secures $100 million to further acquisition strategy, become global AgTech leader

Sep 29, 2021

Vancouver startup Semios has secured $100 million CAD in its pursuit to become the leading independent AgTech company globally. The equity financing will further Semio’s acquisition strategy, with which it plans to build out its global presence. Return investor Morningside Group led the round. The Boston-based private equity and venture capital firm also led the $100 million round Semios secured in January 2020 . While the majority of the capital comes from Morningside, a few, undisclosed family offices and angel investors also participated in the financing. “We see companies like Semios who are independent of the big ag chemical suppliers having a bigger presence in the marketplace.” The all-primary capital brings Semio’s total funding to date to $225 million CAD . Semios is a more than 10-year-old Canadian startup that provides an IoT network of sensors for farmers that monitor and predict insect, disease, water, and frost risk of crops, in near real-time. Using big data and machine learning, Semios’ technology can also automate these types of crop management needs. Farms are becoming increasingly automated. Machines are used across the board for harvesting, seeding and weeding, automating tractors, and monitoring. Research shows that monitoring using IoT devices represents the largest revenue opportunity, with the expectation it will reach $6.99 billion USD globally by 2026. The market for smart sensor systems, like that of Semios, is expected to reach $2.48 billion USD globally by that time, with automation the fastest growing market within the use of IoT technology. The use of automation and overall technology on farms presents opportunities for increased labour efficiency, cost savings for farms, as well as increased sustainability as farmers are better able to predict when, where, and how resources should be deployed. “The idea is, if we understood what nature needed, she could feed us better,” said Semios CEO Michael Gilbert. “And that comes down to lots of data, lots of sensors, lots of control systems to monitor the big farms. So, we monitor some of the largest farms in the world, every 10 minutes on every acre. Semios’ IoT network of sensors monitor and predict insect, disease, water, and frost risk of crops, in near real-time. Gilbert said this helps Semios understand the different needs of various crops, in turn helping farmers decide how to manage that more effectively. Semios is not just about monitoring or being part of one aspect of the farming process; the startup wants to be the central hub for farmers to access their crop management needs. “Whether an acquisition gets us into new markets or brings us more product offerings for our customers, they are considered for us their game,” said Gilbert. The startup claims to monitor some of the largest farms in the world with more than 120 million acres under management. That number is a sizable increase from last year when Semios had around 250,000 acres under management before its acquisitions. Over the last year, the startup purchased three companies: Altrac , Centricity, and Australia-based Agworld Pty Ltd. The latter, Semio’s biggest deal to date, brought in more than half of Semio’s acres under management for a confirmed price tag of more than $100 million. Semios has its largest presence in the United States and Australia, with customers in Canada, New Zealand, Europe, and South Africa as well. The 250-person company (mainly based in Vancouver) hopes to grow that presence by continuing to focus on acquisitions. Gilbert explained to BetaKit its strategy to continue to raise rounds of capital in order to fuel acquisitions that increase the company’s reach. Gilbert argues that there are around 800 companies in Semios’ space, but the majority are small companies that focus on one aspect of farming. “In the agriculture markets there are distribution channels, or retail channels, and those are already folks that sell chemicals, seeds, and tractors,” Gilbert said. “But there’s no real software or precision agriculture retail channel out there … We see a future where the stewards of the data and of precision ag[riculture] are going to be like a large, independent company, not tied to the big companies or the chemical retailers.”

Morningside Technology Ventures Investments

207 Investments

Morningside Technology Ventures has made 207 investments. Their latest investment was in BetterUp as part of their Series E on October 10, 2021.

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Morningside Technology Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/8/2021

Series E

BetterUp

$300M

Yes

11

10/5/2021

Series B

Exo Therapeutics

$78M

Yes

5

9/29/2021

Private Equity - III

Semios

$100M

No

3

9/15/2021

Series B

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$99M

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10

8/10/2021

PIPE

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$99M

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10

Date

10/8/2021

10/5/2021

9/29/2021

9/15/2021

8/10/2021

Round

Series E

Series B

Private Equity - III

Series B

PIPE

Company

BetterUp

Exo Therapeutics

Semios

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Amount

$300M

$78M

$100M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Sources

11

5

3

10

10

Morningside Technology Ventures Portfolio Exits

30 Portfolio Exits

Morningside Technology Ventures has 30 portfolio exits. Their latest portfolio exit was Greenlight Biosciences on August 10, 2021.

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

8/10/2021

Acq - Pending

$991

2

7/16/2021

IPO

$991

1

2/2/2021

Acquired

2

00/00/0000

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10

00/00/0000

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$991

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10

Date

8/10/2021

7/16/2021

2/2/2021

00/00/0000

00/00/0000

Exit

Acq - Pending

IPO

Acquired

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Companies

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Valuation

$991

$991

$991

Acquirer

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Sources

2

1

2

10

10

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