October 14, 2021, Manhattan, New York, New York – Bridge Point Capital is excited to announce the closing of its SPV investment as a part of a $20M Series A round for Newlab. This Series A round places the company’s valuation at $170M. Newlab will use the capital to grow its talent, develop its venture studio, expand its venture investment strategy, scale their locations and verticals, as well fuel their international growth strategy.
Newlab is using part of their $20M in funding on 2 major building expansions; one life science incubator with the state of New York and another expansion in Detroit, MI in partnership with Ford Motor Company and their supplier network. Ms. Nadia Tian, Co-founder and Co-CEO of Bridge Point Capital, remarked: “Newlab partners with business and civic leaders to solve the world’s most challenging and complex issues through identifying problems, designing solutions, and investing in the outcomes. We are thrilled to be part of Newlab’s journey to catalyze growth and generate impact. This is another validation of our mission here at Bridge Point Capital - We believe showing what matters with our dollars is one of the most powerful ways to address challenges and improve people’s lives.”
As a part of our value-add Bridge Point Capital will seek to locate opportunities and partnerships from Asian conglomerates, investors and innovative technologies to fuel Newlab’s ecosystem. We will also focus on identifying a potential expansion and commercialization prospects in the Asian Market.
Founded in 2016, Newlab is a community of entrepreneurs, inventors, and engineers focused on solving the world’s largest challenges. Newlab is comprised of two primary components: their innovation studios and venture studio. Newlab’s 11 innovation studios pair the challenges faced by corporations, cities, and countries with innovators from around the world to enable pilots, solutions, and investments. Examples of Newlab’s studios include:
The 5G Studio: Sponsored by Verizon, this studio supports next generation industry applications of 5G technology. The studio is in its second year and focuses on solutions in transportation, energy, and industrial automation
Mobility Studio: Sponsored by Ford, this studio applies transformative technology to the industry’s biggest challenges to prepare cities, regions, and industries for a connected, autonomous, and electrified future
As for its venture studio, the company harnesses the power of a strong, innovation-focused ecosystem to launch, fund, and grow companies in which they are co-founders with ownership and investment rights. Newlab’s Venture Studio builds new businesses that confront the world’s most complex challenges and is launching 2-4 companies per year. The Newlab community prides itself on its focus of truly solving problems, rather than solely thinking about them.
Due to Newlab’s venture studio, the company holds a diverse range of firms in a concentrated environment. It hosts companies and experts working in some of the most impactful and innovative fields such as health, robotics, infrastructure, quantum computing, agriculture, and artificial intelligence. Member companies have raised over $1.5B in venture capital and another $1.5B has been generated through acquisitions, thus resulting in over $4.2B in total combined value of its member companies.