CEO & Board Member - Segetis Inc - 2009-2014
Specialty materials start-up focused on creating high performance bio-materials. When I entered, the environment was really toxic - the founder and the management teams were totally mis-aligned on the future direction; several management/leadership team members were ready to quit. The VC had invested in the initial round but concerned about the future viability.
Plotted a strategic direction by identifying disruptive segments within the chemicals/materials sector to exploit its Levulinic Acid (LA) technology platform, established early-stage manufacturing and tracked first sales in the selected markets. BUILT CREDIBILITY!
Forged strong strategic partnerships with customers and conceived and negotiated a complex four-party joint development and licensing agreement to build a new supply chain for LA.
Established strong relationships with the Canadian and Minnesota Governments and secured $15 and $22 million respectively of non-dilutive financing to build the first-of-its-kind LA and derivatives biorefinery.
Advanced the company through three successful rounds of financing, raising over $70 million in equity and debt despite strong market headwinds. Expanded the investor pool to include strategic investors (DSM and SABIC) and VCs (Malaysia Life Sciences Fund and PNB) alongside original investor Khosla Ventures.
Eventually the company was sold!
Specialty materials start-up focused on creating high performance bio-materials. When I entered, the environment was really toxic - the founder and the management teams were totally mis-aligned on the future direction; several management/leadership team members were ready to quit. The VC had invested in the initial round but concerned about the future viability.
Plotted a strategic direction by identifying disruptive segments within the chemicals/materials sector to exploit its Levulinic Acid (LA) technology platform, established early-stage manufacturing and tracked first sales in the selected markets. BUILT CREDIBILITY!
Forged strong strategic partnerships with customers and conceived and negotiated a complex four-party joint development and licensing agreement to build a new supply chain for LA.
Established strong relationships with the Canadian and Minnesota Governments and secured $15 and $22 million respectively of non-dilutive financing to build the first-of-its-kind LA and derivatives biorefinery.
Advanced the company through three successful rounds of financing, raising over $70 million in equity and debt despite strong market headwinds. Expanded the investor pool to include strategic investors (DSM and SABIC) and VCs (Malaysia Life Sciences Fund and PNB) alongside original investor Khosla Ventures.
Eventually the company was sold!