Written July 2024. Figures and statements were current as of that date and have not been updated.
I am thrilled to share some exciting updates with you. D3VC has officially gone live, and we have successfully made our first three investments in Corvion, Target Arm, and Sweater. These investments mark a significant milestone for us and highlight the diverse and innovative companies we are supporting.
Corvion is a medical technology company developing a revolutionary Left Ventricular Assist Device (LVAD) to improve the quality of life for patients with end-stage heart failure. Unlike traditional LVADs, Corvion's device uses wireless charging and increased efficiency, which reduces infection risks and improves mobility. The company has earned FDA Breakthrough Device Designation and an NIH Phase 1 SBIR Grant. The LVAD market has a potential worth of $15 billion.
Target Arm is an autonomous robotics company that has developed the innovative Tular system, which allows drones to be launched and recovered from any moving vehicle. Founded by a decorated combat F-15 pilot, the company counts Hyundai, the U.S. Air Force, Space Force, and the Army among its customers, targets a $30 billion market, holds three pivotal patents, and has graduated from the Air Force Accelerator Powered by Techstars and the Endless Frontier Labs Accelerator.
Sweater is a fintech platform that enables institutions, individuals, fintech platforms, and celebrities to create venture capital funds accessible to all U.S. investors, regardless of accreditation. This fund-as-a-service initiative aims to make VC investing available to a broader audience rather than just the wealthy. They have five signed contracts estimated at $95M throughout their lifetime.
This is just the start. We plan on investing in 125 to 150 companies over the next 2 years. Our algorithm reviews over 500 open deals daily, and the quality of deals that cross our desks is improving. Thank you for being a part of our journey as we continue to leverage our AI-driven investment model to identify and support the most promising startups.