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Venture Capital
newarkventurepartners.com

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Investments

61

Portfolio Exits

5

Funds

2

About Newark Venture Partners

Newark Venture Partners is New Jersey's first elite 21st-century venture organization, providing capital, company-building services and residence to innovative tech start-ups in Newark. Newark Venture Partners exists in principal part to establish Newark's comeback as a technology and innovation hub, and to affirm Newark and New Jersey as a flourishing home to early-stage growth companies that will catalyze economic development and create access to new jobs for all citizens.

Newark Venture Partners Headquarter Location

One Washington Park Floor 7

Newark, New Jersey, 7102,

United States

973-820-0817

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Latest Newark Venture Partners News

The Pitch Deck Handspring Health Used for Its $6.2 Million Seed Round

May 12, 2022

Handspring Health combines virtual care and in-person clinics to provide mental health care to kids. The startup just raised $6.2 million in a seed round led by Newark and NextView. Insider got an exclusive look at the pitch deck Handspring used to win over investors. In an age where telehealth is disrupting traditional doctor visits, one New Jersey-based startup believes that in-person mental health care is still crucial for kids — and it just convinced a group of investors to back its brick-and-mortar idea. Handspring Health, a behavioral healthcare startup focused on children and families, just closed a $6.2 million seed round led by Newark Venture Partners and NextView Ventures. 25madison Ventures, Arkitekt Ventures, and Quantum Angels also participated in the round. Cofounder and CEO Sahil Choudhry told Insider in an interview that the startup world is all-in on telehealth, but that's not always the best way to treat children. "A lot of therapy for children is having them play and observing. You can't just do it on an iPad," he said. "Virtual has a place, but a lot still has to happen in person. The experience and outcomes are better when you integrate both." That's why Handspring is taking a hybrid approach: After an initial assessment, providers recommend a care plan of either virtual or in-person therapy for children. Patients are then paired up with Handspring's on-staff therapists, who are paid an annual salary instead of per session. To increase access, Handspring works directly with insurance carriers — that way, children can receive care regardless of where their parents work and the benefits those employers provide. Joanne Lin, the principal at Newark who led Handspring's funding round, told Insider that many mental health tech startups partnered with employers to offer services, which overlooked a large percentage of the patient population that doesn't have employer-based healthcare. Handspring's model is moving the needle on accessibility, she said, by "focusing on in-network first, touching a lot of commercial plans and Medicaid." "They're also thinking about hybrid access — not every patient and not every family is fully accessible to virtual care," she said. Currently, the startup is operating virtually in New Jersey for kids who are 10 and older. Handspring is planning to open its first in-person location this fall so it can start providing care for younger children and will follow a similar two-phase rollout as it expands, Choudhry explained. Here's the 15-page pitch deck Handspring used to impress investors and raise $6.2 million for its seed round. Handspring Health

Newark Venture Partners Investments

61 Investments

Newark Venture Partners has made 61 investments. Their latest investment was in Handspring Health as part of their Seed VC on May 5, 2022.

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Newark Venture Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/9/2022

Seed VC

Handspring Health

$6.2M

Yes

4

3/31/2022

Series A

Walnut

$10M

Yes

3

3/9/2022

Series A

CaliberMind

$8M

No

9

12/7/2021

Seed VC - II

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$99M

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10

10/28/2021

Series A

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$99M

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10

Date

5/9/2022

3/31/2022

3/9/2022

12/7/2021

10/28/2021

Round

Seed VC

Series A

Series A

Seed VC - II

Series A

Company

Handspring Health

Walnut

CaliberMind

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Amount

$6.2M

$10M

$8M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Sources

4

3

9

10

10

Newark Venture Partners Portfolio Exits

5 Portfolio Exits

Newark Venture Partners has 5 portfolio exits. Their latest portfolio exit was Talentwall on May 17, 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

5/17/2022

Acquired

$99M

2

11/15/2021

Acquired

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$99M

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10

10/22/2020

Acquired

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$99M

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10

7/28/2020

Acquired

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$99M

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10

7/23/2019

Acquired

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$99M

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10

Date

5/17/2022

11/15/2021

10/22/2020

7/28/2020

7/23/2019

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

10

10

10

10

Newark Venture Partners Fund History

2 Fund Histories

Newark Venture Partners has 2 funds, including Newark Venture Partners Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

8/11/2021

Newark Venture Partners Fund II

$85M

3

3/13/2018

Newark Venture Partners Fund

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$99M

10

Closing Date

8/11/2021

3/13/2018

Fund

Newark Venture Partners Fund II

Newark Venture Partners Fund

Fund Type

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Status

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Amount

$85M

$99M

Sources

3

10

Newark Venture Partners Team

2 Team Members

Newark Venture Partners has 2 team members, including current Managing Partner, Daniel Borok.

Name

Work History

Title

Status

Daniel Borok

Managing Partner

Current

Thomas Wisniewski

Managing Partner

Current

Name

Daniel Borok

Thomas Wisniewski

Work History

Title

Managing Partner

Managing Partner

Status

Current

Current

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