Virtue

SCI Ventures is a novel, evergreen fund created to catalyze innovative cures for paralysis. Backed by the leading foundations for spinal cord injury in the US and Europe, and advised by world-class neuroscientists, we invest in early-stage companies developing cure-oriented therapies for spinal cord injury and other related markets. We invest globally in companies with the greatest potential to impact our mission, typically at the Seed and Series A stages. We follow a venture philanthropy model, inspired by successful initiatives in other disease areas, to catalyze an investment market aimed at reversing paralysis. We focus on investing in companies advancing cures for paralysis-related challenges, prioritizing both long-term neural pathway restoration and immediate clinical impact. Our investments are guided by community priorities and scientific rigor, leveraging our team's expertise and the support of research foundations. A new wave of innovation For the first time, the combination of breakthroughs in biology, engineering and computing make a cure to paralysis a real possibility. An evergreen fund that redeploys 100% of its returns Venture philanthropy has been adopted by a number of disease- focused organisations, including JDRF’s T1D Fund and the Cystic Fibrosis Foundation, to deploy their own capital to produce a tangible impact and to attract the traditional life-science venture capital industry to their cause. SCI Ventures is making investments with the intent of generating a financial return. All returns will be recycled and reinvested within the fund to take more targeted shots at the goal of curing paralysis. All initial operating costs of SCI Ventures are being met by the Christopher and Dana Reeve Foundation, allowing all donated capital to be invested in cutting-edge, early-stage companies. Investment strategy Catalyzing an investment market to address spinal cord repair. Recent advances in science and technology have made recovery from paralysis a real possibility. We target near-term functional improvement, while also backing the ultimate goal of biological repair of the spinal cord. Our strategy is guided by the priorities of those living with a spinal cord injury. We focus on curative therapies for motor and sensory deficits and leave the important work of care and adaptation to others. SCI Ventures is uniquely positioned to de-risk assets for a broad range of adjacent neurological conditions. We invest in technologies targeted at SCI. There are many similarities between SCI and other conditions including stroke, neurodegenerative diseases or neural circuit disorders such as epilepsy or pain. The technologies we back have the potential to yield high impact beyond the SCI community. We use strict criteria to assess a company’s investment impact, focusing on prospective financial return. We aim to make an impact, by identifying the most innovative technologies and supporting at an early stage the most entrepreneurial management teams, regardless of where they are in the world. We assess each company for its scientific maturity and potential for clinical impact.

We invest in opportunities backed by deep science. Xora is an early-stage investment platform of Temasek. We typically invest as a lead or co-lead investor in the Seed and Series A rounds, and later rounds (via our parent company). While we are not limited by geography, we prioritize opportunities that possess a strong linkage with the Singapore science & technology ecosystem. Leveraging the Temasek global network of investors and operating companies, we are active partners to ambitious founders building the next generation of impactful, world-changing companies. Our Team Our team possesses strong technical domain expertise in both physical and life sciences, and the intersection thereof, and are steeped in the nuances of early-stage deep science investing and venture building. We are global citizens with business experience in major markets. Our principles guide our engagement process and our investment decisions.We start with the people on the journey and a shared vision of the future. ​ We look for dogged persistence, unbounded creativity, acute self-awareness, a sense of urgency, and a passion for impact. We embrace both the technical and people complexity of science-based opportunities. ​ We welcome early and frequent contact and appreciate the opportunity to inform an emerging narrative. ​ We prefer brainstorming to pitches, and relationships to transactions. ​ We commit more than capital; we pledge our mindshare and our network.

We have two funds: Future Ventures: The way consumers want to engage with their money and plan for their financial future is changing. Through Northwestern Mutual Future Ventures, we look for partners who are developing tools and platforms to help us deliver the experience clients need, want and deserve; who are shaping the future of health and wellness; and who are bringing new technologies and enhanced analytics to market. Cream City Venture Capital: We're committed to being a catalyst for business growth in our home town. Cream City Venture Capital is dedicated to investing solely in startups based in southeast Wisconsin. Beyond capital, Cream City Venture Capital portfolio companies get access to our network of mentors and state-of-the-art co-working space. We look to partner with companies that are leveraging technology to address challenges across any industry. More Than Just Funding We support and drive growth with value-add platform services, connecting our portfolio companies to resources within and outside of Northwestern Mutual. By accelerating learning and connecting to experts, we can help founders quickly overcome growth challenges and increase the likelihood of their startup’s success. Leveraging Northwestern Mutual: Industry insights and expertise gained over 160+ years Business Development: Strategic connections to potential partners or customers Talent & Leadership Development: Growing and developing founders and their teams as they grow their business Marketing & Communication: Amplification of founders’ personal and company brands through consultation with Northwestern Mutual’s experts Community & Events: Access to best practices and opportunities by connecting with other founders, Northwestern Mutual executives and influencers Investing in and Supporting Startups Founded by Women and Black Entrepreneurs Female-founded startups receive less than three percent of the approximately $80 billion in venture capital annually, and Black founders receive less than one percent. As part of our ongoing commitment to women and diversity, we’ve dedicated a total of $40 million to investing in startup companies founded by women and Black entrepreneurs. This funding allocation will advance the company’s investment strategy of engaging startups whose technologies have the potential to transform how clients experience financial security, as well as increase focus on technological disruption. The investment criteria align with NM Future Ventures' key strategic areas of focus.

AdBio partners (formerly Advent France Biotechnology) is a venture capital firm investing in early stage life sciences companies in Europe. AdBio partners’ unique strategy combines early-stage investments in promising startups and strong entrepreneurial support to enable and strengthen the company’s growth. As an early-stage investor, we act as a catalyst to create companies based on innovations coming from academic research. We have established relationships with leading research institutions and technology transfer offices in Europe and benefit from the support of strong network of scientific, clinical, industry and financial partners. The operational team is managed by Alain Huriez, MD, Chairman and Managing Partner, and Geoffroy de Ribains, Managing Partner. The team includes seasoned investment professionals with long-standing track records in entrepreneurial ventures, combined with strong scientific, medical and operational expertise.

Mirae Asset Capital Life Science was formed in 2023 as a joint venture between Mirae Asset Capital and Mirae Asset Global Investments. It is the first and only U.S. affiliate for Mirae Asset dedicated to investment in Life Science. Near-Term ValueThe majority of our investments will be Series A/B and entering the clinic within a few years to generate real value with clinical proof of concept We believe companies at this stage maximize returns given the risk; we remain open to seed opportunities where there is a clear path to value and Series C opportunities if the valuation and resulting equity ownership support meaningful returns to our investors We aim to find the right mix between first-in-class and best-in-class assets with meaningful market share and evaluate both platform and single asset approaches Calculated RiskWe are modality agnostic when it comes to therapeutics and incredibly opportunistic with diagnostics Our interest in digital health involves using AI/ML tools (e.g. quantum computing, generative biology/chemistry) for drug discovery or protein engineering We co-invest with top-tier life science investors who we know and have worked with before and leverage our operational experience to find strong management teams with excellent track records relevant to the company they are building We aim to be active investors by securing board roles whenever possible; this is a role that is familiar to us and helps mitigate risk to our investors by helping to shape the course of our investments Innovative yet Validated ModalitiesWe have selected five core therapeutic sectors to focus our investments: Oncology, Immunology, CV/Metabolic, CNS/Ophthalmology, and Rare/Genetic Disease For each of the above sectors we have defined various focus areas defined by a unique combination of validation, unmet need, market potential, and acquisition/public market interest We seek to limit biological and technical risk and prioritize small molecule, antibody approaches (includes mAbs, bsAbs/TCEs, ADCs, radiotherapeutics), and nucleic acid therapeutics (siRNA, ASOs) across these sectors Rigorous EvaluationWe leverage the combined scientific background of our team and our affiliates in Asia (medicinal chemistry, pharmacology, structural biology) to perform rigorous evaluation of each investment We prepare a comprehensive diligence memo for each investment that includes a thorough evaluation of the science, pipeline, finance, management, board, investors, operations, regulatory, IP, clinical development, and potential return to our investors We conduct calls with relevant Key Opinion Leaders for every opportunity to ensure we have the most informed and updated views from the leading voices in the field

It is time for a new paradigm. Technology and business needs to be in service to humanity, not the other way around. We invest in entrepreneurs and early stage companies that are creating ways to… Nurture human connection, not division. Help heal our addictions, not create and profit from them. Enable us to live more mindfully, not be a source of distraction. Support equality and social justice, not economic and social division. We are currently raising our first fund. If you are an accredited investor who wants to be a part of the fund, let us know.