Pittsburgh-based investors Next Act Fund is pleased to announce its recent investment in Cherryvale Farms, and Ariel Precision Medicine.
PITTSBURGH (PRWEB) August 14, 2018
Pittsburgh-based investors Next Act Fund is pleased to announce its recent investments in Cherryvale Farms, and Ariel Precision Medicine. With these two investments, Next Act Fund is now directly invested in five companies. Additionally, Next Act Fund has invested in Enova Funds I, II, and III at BlueTree Allied Angels.
Ariel Precision Medicine is an integrated genomic and digital health company headquartered in Pittsburgh that helps doctors treat patients with chronic health conditions, starting with pancreatic disease. In 2017, Ariel launched the first comprehensive 12-gene genetic test for pancreatitis, PancreasDx®, integrating robust clinical data and environmental information to advance insights into management and treatment decisions for each patient. Ariel is closing a $2.5 M note and is now providing services to clinicians at over 27 leading academic centers across the country.
"Our goal is to provide unique insights about each patient's condition so their doctor can make an early diagnosis and select appropriate treatment. Many of these patients have been suffering for years without knowing why. With the launch of PancreasDx® we have been able to provide answers for the first time and it is making all of the difference in patient's lives, and we are just getting started. As a female entrepreneur I have really appreciated the support of Next Act Fund, which has not only invested in Ariel but also provides access to a sophisticated network of successful entrepreneurs. This is the type of fund that is going to create capital access for women and has not often been available.”
Cherryvale Farms launched six years ago in Santa Cruz, CA. The company makes healthy, convenient, naturally delicious, plant-based foods that can be enjoyed at home or on the go. Beyond its initial line of fruit-focused baking mixes, the company also offers Instant Indulgence® mug cake mixes (e.g. brownies that can be made in a mug in one minute), and Love It!™ Whole Grain Snack Bars. All of their products are made with plant-based ingredients, and contain no artificial flavors, colors, or preservatives. Cherryvale Farms is currently raising their Series A1 round, and plans to use the new investment to add sales and marketing staff and expand their product offerings. Cherryvale is headquartered in California, but its products are available nationwide, including Pittsburgh at Whole Foods Markets, and the East End Co-Op.
Lindsey Rosenberg, Founder, and CEO stated “we are excited about adding funding partners such as the Next Act Fund, who are so focused on women entrepreneurs. I sought out venture partners who invest in women, because I think that it's important to grow that sector of our economy. We look forward to using our new investment dollars to bring healthy, plant-based foods to a wider variety of people.”
Yvonne Campos added “Both Ariel Precision Medicine and Cherryvale Farms are excellent additions to our portfolio. Jessica Gibson is building our ecosystem in Pittsburgh and bringing important improvements to the digital health market. Lindsey Rosenberg and Cherryvale Farms produce a delicious selection of products, and are poised to add more to the market. She is a smart addition to the natural food sector, and we look forward to watching her grow her company to new heights.”
About Next Act Fund
Next Act Fund was founded in 2017 with the intent of investing in early-stage, women-owned/led companies, thereby positively impacting women, the region, and the nation. Next Act Fund, which is the first of its kind in Southwestern Pennsylvania, is also focused on member education, hosting monthly educational sessions open to its members and the public, as well as a series of educational sessions targeting “future investors”.