Integra Partners

Twenty years together through the good, the bad and the ugly. We understand that nothing really goes to plan when you are trying to build the future. Targets, deadlines and churn rates, any can be missed when constant focus isn’t applied and stress levels rise. We have been there before, we have steadied the ship, removed roadblocks and provided support for the next stage of growth. Capital buys time but the market waits for no one. Efficiency, productivity and transparency are key for entrepreneurs in our portfolio and the time we spend with them as partners in their journey to greatness. Our job is to pool the knowledge gained by decades of successes and failures and share that wisdom with those we back. We don’t run the companies we invest in; we try to behave like the partner we wished we had if we were. Our relationships with corporate and academia run deep. Decades deep. We are fortunate to include global leaders in the areas of robotics, consulting, engineering, production, insurance and finance in our investor base - ABB, Buhler, Credit Suisse, ETH, Hilti, McKinsey, Nestle, Schindler, Sulzer, Suva and ZKB. We jokingly call this our “unfair advantage”. Beyond their investment into our fund, these partners work with us to mutually understand a space or emerging trend, find new exciting companies or become customers of our relevant portfolio businesses. We are also fortunate to have relationships with management and professors at some of the world’s leading technology and life sciences universities, such as ETH and EPFL, the universities of Basel, Geneva and Zurich - dating back more than 20 years. Our network also consists of a wealth of European and international investors who we have previously invested with or bought into our companies for follow-on rounds. We invest in both digital technologies and life sciences, priding ourselves on our interdisciplinary approach to select and support our portfolio firms. Our geographic emphasis is Switzerland and neighbouring countries, but we also look further afield if the opportunity makes sense.

We invest in highly scalable SaaS products with potential to transform Enterprises. Founders we work with bring a fine balance of new-age technology expertise, comprehensive knowledge of domains they are working in, and proven experience in execution at scale! Our participation is in early-growth stage, typically in companies with a proven product-market fit i.e., a commercial validation of the value proposition. We prefer healthy unit economics where capital enables scale and expansion to new markets. Thematic investments that enable meaningful business impact at global scale We like businesses with high capital efficiency and strong resilience to macro-economic shocks. They scale basis recurring revenue models that enable stickiness and better value realization per customer. Our investments are in software businesses catering to enterprise users, across financial services, retail, logistics, healthcare, and select sector-agnostic opportunities. Scalable Technology: Cloud-based; automated; AI/ML-enabled Recurring Revenues: Easy to adopt SaaS business models Large Market Opportunity: Designed for global market scale Category Leadership: First mover or fastest mover Enterprise SaaS Over the last 5 years, Enterprise Software-as-a-Service (Enterprise SaaS) companies such as Zoom, Salesforce, Shopify, Twilio, among numerous others, have delivered over 800% in total returns at an annualized IRR of over 65%. The Enterprise SaaS companies have significantly out-performed the well-known internet consumer companies like FANG (Facebook, Amazon, Netflix & Google), that have delivered about 300% return in the same duration. We believe Enterprise SaaS will continue to post consistently high double-digit growth for years to come, by creating new markets and garnering market share from traditional technology companies.

We support our businesses with our time, energy, and experience. Healthcare Services$1-10M EBITDA 20%+ YoY growth Teams who deliver quality outcomes, reduce costs & have big visions Multi-site services including de novo and acquisition growth Potential to expand continuity of care with ancillary services B2B Software$2-10M ARR 40%+ YoY growth Momentum and vision Strong gross & net revenue retention Industry expertise & team chemistry Here’s How We Do It We meet teams and businesses where they are, and imagine a bigger and brighter future by building the right systems, processes, teams and culture. And all of that starts with the right experience, the right support, and the right relationship The Right ExperiencePartners are former executives with a combined 125+ years of experience Learn from our personal operating experience and experience with our portfolio companies We stick to what we know: technology and healthcare 60+ investments, 25+ successful exits and approaching $1B AUM The Right SupportFinancial runway so you can stay focused on your business, not your next fundraise Recruit the right people from board level to senior leadership and throughout the organization Perfect your expansion strategy with the support of our industry leading service partners Join the Fulcrum network of executives at our annual retreat and beyond The Right RelationshipThe right balance of input and autonomy Engaged partners acting as a sounding board Operators that have been in tough situations and don’t overreact and overcorrect when challenges occur Professionals who will help you imagine greater goals and help you achieve them throughout our investment and after

At Flare Capital, we do more than simply provide capital for early stage and emerging healthcare technology companies. We partner with the most creative and passionate entrepreneurs aspiring to reinvent the business of healthcare. Together we work to build transformational companies that will profoundly improve the delivery and quality of healthcare while reducing costs. Our Team In 2014, Michael and Bill came together with the vision to build the leading dedicated healthcare technology venture capital firm. Both had started successful venture firms earlier in their careers and had a shared perspective on what the market now needed. As the “business of healthcare” is being transformed, there are significant opportunities to create important and enduring new healthcare technology companies. Given the complexity of this sector, a focused investment strategy with an experienced, committed team is required, and thus Flare Capital was launched. The firm is comprised of a number of proven healthcare technology investors with both deep industry knowledge and venture capital experience alongside accomplished operating executives of leading healthcare organizations. Our Executive Partners have substantial operating experience and our Industry Advisory Board includes many of the brightest healthcare minds with unique perspectives from across the industry. Together they provide critical insights and points of connectivity for our team at Flare Capital and are a tremendous resource for our entrepreneurs. Our Flare Scholars are professionals from preeminent healthcare companies and students from academic institutions across the country who scout interesting people and investment opportunities for us while learning about venture capital. Our Investors We have hand-assembled some of the most successful healthcare organizations, leading family offices, pension funds and investment companies as investors. At Flare Capital, we are privileged to partner with and have unparalleled access to leading innovative healthcare providers, payers, medical device companies, laboratory services provider, healthcare retailer, and one of the largest owners of healthcare campuses. Our investors have an enormous footprint in healthcare and are on the forefront of healthcare innovation. Our Approach We invest across the United States, recognizing that healthcare technology innovation is occurring in many cities around the country. While we consider ourselves principally early stage investors, we are full lifecycle investors. We partner with our entrepreneurs across the entire journey of company building. We are committed to our entrepreneurs and to being their first call, as we work closely and patiently through all strategic issues confronting our companies, maximizing their probability of success. In particular, we are very focused on assisting with recruiting and securing early customer validation and revenues. Starting and then scaling a successful healthcare technology company is hard. Careful and thoughtful financing strategies need to map to detailed product development timelines and other commercial milestones. We closely collaborate with our entrepreneurs to ensure that they have critical access to the best resources as the business scales. We relentlessly strive to be a true partner and to deliver extraordinary value to our entrepreneurs to enable them to build market leading, transformational businesses.

We take a responsive, service-oriented approach with our portfolio companies, leveraging a proprietary technology platform designed to systematize and scale the power of our network. Our funds typically invest $1M - $2M in early stage companies and $3M - $5M in growth stage companies. NextGen invests in early-stage founders building category-defining B2B software companies in healthcare, data infrastructure, and financial technology. We recently closed our third fund that will focus on pre-seed and seed investments in these categories. Our portfolio consists of 70 companies including Everly Health, Mercury, Maven Clinic, Syncari, Hone, Carta, TripleBlind, Pluto Health, and Dusty Robotics among others.'

Propel is investing in founders creating “the new economy.” The financial services sector is the primary driver of many economies, and opportunities to enable, accelerate, deliver, and secure value exchange are immense and diverse. Propel invests primarily from Pre-Seed to Series A in the Americas with initial check sizes from $250k to $5M with follow-on capital much higher. Portfolio companies include Coinbase, Nomad, Neon, Guideline, Groww, SumUp, Newfront, and Safebooks. Propel is headquartered in the SF Bay Area with a workspace in Jackson Square.