Tidewater Equity Partners Announces Participation in Major Financings for Contego Medical and Phononic, Inc.
Jun 8, 2020
Tidewater Equity Partners, a private investment firm based in Wilmington, is pleased to announce its participation in major financings for Contego Medical and Phononic, Inc. Both are existing Tidewater portfolio companies.
Contego Medical is a Raleigh, NC-based medical device company that has developed a family of novel devices that protect against life-threatening artery blockages, or embolisms, during vascular procedures. Contego’s portfolio of products is based on the company’s patented platform technology, which combines embolic protection with the devices used in treatment. This proprietary platform is called Integrated Embolic Protection (IEP).
Phononic, Inc is a Durham, NC-based company specializing in cooling and heating with patented solid-state semiconductor technology. Its breakthrough solid-state technology is transforming industries and creating new markets with innovative solutions that disrupt antiquated business models and incumbent technologies. The company has been named to the 2016, 2017 and 2019 CNBC Disruptor 50 lists, received the US EPA’s 2017 Emerging Tech Award, R&D 100 Award, along with several more honors and accolades.
Contego recently closed on a Series C financing in which Tidewater was a participant. Other participants include Medtronic, Plc, a global leader in cardiovascular-based devices and therapies, Amzak Health, who has made over 50 healthcare investments since 2005, and Lightstone Ventures, who has made over 50 biopharma and medical device investments since 2012.
Phononic recently completed a senior secured debt placement in which Tidewater was also a participant. The debt financing was led by Temasek, a Singapore-based investment company with over $220 billion of assets under management. Temasek’s participation is part of a partnership with Phononic for First-of-its-kind Sustainable Outdoor Active Cooling in Singapore (OACIS).
“Tidewater is excited in continuing to help fund the growth and value creation for two of North Carolina’s premier technology companies, Contego Medical and Phononic,” said Merrette Moore, Managing Partner of Tidewater, in a statement. “To have the opportunity to participate alongside such high-profile, world-renowned organizations such as Medtronic and Temasek is a testament to the strength of the relationships that we have built with our portfolio companies since our inception. Tidewater is truly offering local, individual investors and family offices access to high-quality investment opportunities that they would be hard-pressed to find elsewhere.”
“People think investing is all about money and returns, which is obviously important, but I think it is equally about relationships and access,” said Moore. “At Tidewater, we know that if we can develop solid relationships and offer unique deal access to our investors, compelling returns should follow.”
About Tidewater Equity Partners: Tidewater Equity Partners is a North Carolina investment firm focusing on small company direct investment as well as healthcare venture capital. Tidewater provides unique access to small company private equity and venture capital investments for high-net-worth individuals, family offices, and small institutional investors.
For More Information on Tidewater Equity Partners: Please visit www.tidewaterequity.com
Press Release Service by Newswire.com
Original Source: Tidewater Equity Partners Announces Participation in Major Financings for Contego Medical and Phononic, Inc.
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