Velano Vascular, Inc. announced that it has received $5 million in funding from a group of investors.
January 30, 2015
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Velano Vascular, Inc. announced that it has received $5 million in series A round of funding led by existing investor First Round Capital in January 2015. The transaction included participation from new investors White Owl Capital, Kapor Capital, Safeguard Scientifics, The Griffin Hospital Inc, Endowment Arm, The Children's Hospital of Philadelphia, Endowment Arm, and other health-industry angels.
On February 8, 2016, the company has raised raised additional $3.5 million in the second tranche of the transaction. The transaction involves participation from new investors DW Partners, LP and individual investors Ed Ludwig, Oscar S. Schafer and Stuart Herskovitz. The company has raised aggregate gross proceeds of $8.5 million in the transaction.
As of August 8, 2016, the company raised the funding. The company amended the terms of the transaction. The company has issued 828,521 series A preferred shares at a price of $2.9566 per share, 446,177 series A-1 preferred shares at a price of $5.603 per share and 590,436 series A-2 preferred shares at a price of $7.464 per share for the gross proceeds $9,356,549.22. The preferred shares will be entitled to receive cumulative dividend at rate of 6% per annum. The preferred shares are convertible into common shares at their respective original issue price. The shares are convertible, participating and non-redeemable. The transaction will be raised at post money valuation of $13,921,360.
Safeguard Scientifics, Inc. is a provider of capital and relevant expertise to technology-driven businesses. The Company offers strategic, operational and management support to certain of its ownership interests, which include defining short and long-term strategic goals; identifying and planning for the critical success factors to reach these goals; identifying and addressing the challenges and operational improvements required to achieve the critical success factors and, ultimately, the strategic goals; identifying and implementing the business measurements that the Company and others are apply to measure a companyâs success; and identifying sources of and providing capital to drive growth. It also continues to hold relatively small equity interests in other enterprises where it does not exert significant influence and do not participate in management activities. The Company's subsidiaries include Bonfield VII, Ltd., Safeguard Delaware, Inc., SFE Properties, Inc., and others.
SAFEGUARD SCIENTIFICS, INC. 
