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Venture Capital
FINANCE | Investment Firms & Funds
slaterfund.com

Investments

73

Portfolio Exits

6

About Slater Technology Fund

The Slater Technology Fund is an evergreen not-for-profit seed fund dedicated to supporting new venture development in Rhode Island.

Headquarters Location

3 Davol Square

Providence, Rhode Island, 2903,

United States

401-831-6633

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Latest Slater Technology Fund News

Slater Technology Fund head launches new, university-focused venture fund

Feb 28, 2022

Slater Technology Fund head launches new, university-focused venture fund By THORNE SPARKMAN, managing director of Slater Technology Fund, has launched a new investment fund for university research-driven entrepreneurs and startups called RightHill Ventures. / PBN FILE PHOTO/RUPERT WHITELEY PROVIDENCE – Rhode Island’s rich university landscape offers fertile ground for innovative, public interest-focused research. But translating those ideas into reality requires money, and that can sometimes be hard for early-stage startups to secure. Enter RightHill Ventures, a newly launched investment fund aimed at helping university-driven ventures secure initial and later-stage funding to grow their business ideas. The Rhode Island-focused venture fund is the latest project of Thorne Sparkman, who also serves as managing director for Slater Technology Fund. Indeed, it was Sparkman’s work with Slater, the state’s oldest and most active seed-investment fund, that prompted him to start a new fund focusing specifically on university research-based entrepreneurs and ideas. Nearly one-third of the 150 companies Slater has put seed funding into were started out of Brown University and University of Rhode Island, according to Sparkman. “The things professors work on are motivational problems,” Sparkman said. “They don’t start social networks, they try to cure cancer and solve global warming.” - Advertisement - Solving those kinds of problems make for great companies, and Sparkman wants to help those companies succeed. RightHill also builds upon Slater, which primarily offers seed funding to early-stage companies, by providing later-stage funding to university-related companies and entrepreneurs to grow their businesses further. “Slater Fund is about hacking through the jungle,” Sparkman said. “RightHill Ventures comes and brings other investors when it’s a little more developed. This is about setting companies up getting them over the hump at which point they become investable.” Sparkman envisions the two venture funds working in concert, with Slater providing initial startup funding and, for university-related companies ready to take it to the next level, RightHill helping to raise a Series A funding round. Sparkman hopes to invest in five companies through his new fund in the next 2-3 years, though he declined to name which companies he is eyeing. He has also already secured some investors, but did not disclose total funding available. RightHill is backed by Slater, and will work in partnership with a number of other startup and university organizations, including the Nelson Center for Entrepreneurship, Brown University’s Technology Innovations Office and Biomedical Innovations to Impact Fund, Brown-Lifespan for Digital health, Brown Angel Group, RI Bio and the New England Medical Innovation Center, according to a release. RightHill also received an initial $300,000 grant from the U.S. Economic Development Administration. Nancy Lavin is a staff writer for PBN. Contact her at  Lavin@pbn.com . Want to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber. TAGS

Slater Technology Fund Investments

73 Investments

Slater Technology Fund has made 73 investments. Their latest investment was in RxVantage as part of their Series D on January 1, 2022.

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Slater Technology Fund Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/19/2022

Series D

RxVantage

No

3

3/5/2021

Series A

Datarista

$0.75M

No

1

10/15/2020

Seed VC - V

Datarista

$0.06M

No

1

11/1/2019

Unattributed VC

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$99M

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10

8/2/2019

Series A - V

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$99M

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10

Date

1/19/2022

3/5/2021

10/15/2020

11/1/2019

8/2/2019

Round

Series D

Series A

Seed VC - V

Unattributed VC

Series A - V

Company

RxVantage

Datarista

Datarista

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Amount

$0.75M

$0.06M

$99M

$99M

New?

No

No

No

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Co-Investors

Sources

3

1

1

10

10

Slater Technology Fund Portfolio Exits

6 Portfolio Exits

Slater Technology Fund has 6 portfolio exits. Their latest portfolio exit was Datarista on February 21, 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

2/21/2022

Acquired

$99M

1

5/1/2020

Acq - Fin

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$99M

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10

2/14/2017

Acquired

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$99M

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10

7/22/2016

Corporate Majority

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$99M

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10

6/27/2014

Acquired

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$99M

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10

Date

2/21/2022

5/1/2020

2/14/2017

7/22/2016

6/27/2014

Exit

Acquired

Acq - Fin

Acquired

Corporate Majority

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

10

10

Slater Technology Fund Team

3 Team Members

Slater Technology Fund has 3 team members, including current Managing Director, Thorne Sparkman.

Name

Work History

Title

Status

Thorne Sparkman

Managing Director

Current

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Name

Thorne Sparkman

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Work History

Title

Managing Director

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Status

Current

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