On April 26, 2021, The Carlyle Group announced its acquisition of Unchained Labs for $435 million.
Unchained Labs is a Pleasanton-based laboratory biologics device company expected to generate $75 million in revenue in 2021. In the 2018 TVV Fund, I invested $500,000 in the Series D round at a $138 million valuation – the round was closed to outside investors, but we were able to invest opportunistically through our relationship with Tim Harkness (CEO) and Jason Novi (CFO). The $435 million valuations implies a 3.6x return on Launching Pad’s investment.
