Investment Summary

Cobalt Ventures and NewRoad Capital Partners Invest In Bardavon

On November 25, 2020, private equity firms Cobalt Ventures and NewRoad Capital Partners invested in internet software and services company Bardavon

Investment Highlights
  • This is Cobalt Ventures’ 3rd and NewRoad Capital Partners’ 4th transaction in the Internet Software and Services sector.
  • This is Cobalt Ventures’ 6th and NewRoad Capital Partners’ 9th transaction in the United States.
  • This is Cobalt Ventures’ 2nd and NewRoad Capital Partners’ 1st transaction in Kansas.

Investment Summary

Date 2020-11-25
Target Bardavon
Sector Internet Software and Services
Investor(s) Cobalt Ventures
NewRoad Capital Partners
Deal Type Venture

Target

Bardavon

Overland Park, Kansas, United States
Bardavon is a cloud-based, clinical intelligence and analytics company focused on improving musculoskeletal patient outcomes in both the workers’ compensation and commercial healthcare arena. Bardavon was founded in 2013 and is based in Overland Park, Kansas.

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Investor(S) 2

DESCRIPTION

Cobalt Ventures is the private equity investment arm of Blue Cross and Blue Shield of Kansas City. The Firm looks to invest $10 to $75 million (majority or minority positions) to support scalable, high-growth healthcare companies that are seeking to increase the overall quality of healthcare services, improve outcomes and lower costs for customers and members. Specific areas of interest include home healthcare/hospice, outpatient services, telehealth, pharmaceutical distribution, and tech-enabled healthcare services. Cobalt Ventures is based in Kansas City, Missouri.


DEAL STATS #
Overall 6 of 8
Sector (Internet Software and Services) 3 of 4
Type (Venture) 3 of 4
State (Kansas) 2 of 2
Country (United States) 6 of 8
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-05 Nymbl Science

Denver, Colorado, United States

Nymbl Science provides digital, home-based balance training for older adults via an application-based mobile platform. Nymbl Science was founded in 2014 and is based in Denver, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-06 Concord

Hopkins, Minnesota, United States

Concord is a technology consulting and digital transformation firm supporting operations in Eastern Europe. Concord serves leading enterprises and innovators in the healthcare, technology, manufacturing, and financial services industries. Concord was founded in 2003 and is based in Hopkins, Minnesota.

Buy -
Investor
DESCRIPTION

NewRoad Capital Partners is a private equity firm focused on buyouts and growth capital investments in Founder-led/owned companies looking for a value-add partner. The Firm looks to commit $5 to $15 million of capital for growth equity needs and $15 to $25 million for outright acquisitions. Sectors of interest include supply chain/logistics, retail technology, consumer packaged goods, and marketing technology. NewRoad Capital Partners was established in 2012 and is headquartered in Rogers, Arkansas.


DEAL STATS #
Overall 9 of 17
Sector (Internet Software and Services) 4 of 6
Type (Venture) 9 of 16
State (Kansas) 1 of 1
Country (United States) 9 of 17
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-01 The New York Shipping Exchange

New York, New York, United States

The New York Shipping Exchange is a digital trading platform, which enables shippers and ocean carriers to enter into digital forward contracts. The Company has developed a standardized contract template that can be used by both parties. NYSHEX provides shippers and carriers with an independent monitoring service to ensure compliance with the terms of the transaction, issue determinations of fault, and facilitate collection of payment or liquidated damages when appropriate. The New York Shipping Exchange was founded in 2014 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-30 PICKUP

Plano, Texas, United States

PICKUP is a software platform that enables on-demand and same day delivery service of big, heavy and high value items for national and area retail stores. The Company has developed an on-demand logistics service to solve the big & bulky last mile market for enterprise clients. PICKUP was founded in 2015 and is based in Plano, Texas.

Buy -