OCTANe Accelerates Its Own Startup

Monday, July 22, 2019

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Greater Irvine Chamber Leaders Circle member OCTANe, best known for its role as a business accelerator for area technology and life science companies, has laid the groundwork for a new company – OCTANe Enterprise Solutions (OES).

OES will provide early-stage and mid-stage companies access to strategic and institutional capital, as well as connections to family offices looking to invest in innovation-focused companies, and a private investor network.

The new entity is already operational, according to Bill Carpou, chief executive of OCTANe.

It also has a president, who will remain unidentified until a trio of investors in the new company are finalized; one unnamed firm has already committed to financing OES.

The president of OES is a “rock star…and will report to me,” Carpou told the Orange CountyBusiness Journal.

The OES president has already begun taking on responsibilities of the role prior to the formal announcement, he said.

$2B and Counting

OES represents the “tremendous growth” of companies in Southern California within the medical and technology industries’ business ecosystem according to OCTANe, which is responsible for about $2 billion in capital infusions for area companies since 2010.

The group has seen success with other ventures it has formed; its LaunchPad – a Small Business Development Center supported by the U.S. Small Business Administration that works with technology and life science entrepreneurs seeking late seed, Series A and Series B funding – ranks in the top five out of over 900 SBDCs in the country.

Additionally, OCTANe created Visionary Ventures in 2015, which specializes in later stage ophthalmic investments. It has produced “exceptional investment results, including a 33 percent IRR,” according to Carpou.

OES will generate revenue from consulting fees and be organized as an LLC, Carpou said.

Its consulting isn’t mere advisement for how to go forth and succeed but will also include active participation in all aspects of the client company’s proceedings, including attending pitch meetings with investors.

The revenue generated from OES will also serve to support OCTANe as it expands itself into the medical aesthetics industry market space. Its hosting and Aesthetics Technology Summit conference on Jan. 10 at Balboa Bay Resort in Newport Beach. Among notable presenters and attendees at the event includes Allergan Chief Executive Brent Saunders, who will be interviewed by Goldman Sachs Managing Director Yassaman Salas.

Trio of Outside Investors

Ownership of OES will include three strategic investors in the fintech, data analytics, and cybersecurity industry; one is already committed. The amount of funding they are putting forth hasn’t been disclosed.

Source: Orange County Business Journal

Category: Member News, Partner News