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IDC Network and Arena Investors Announce the Launch of “IDC Arena Credit Ventures” a US$200 Million Strategic Partnership to Bolster Tech Innovation

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Strategic Partnership Will Help Founders Access Venture Debt and Flexible Capital Solutions Through Private Credit, Also Setting the Stage for Potential Future IDC/Arena Investment Offerings 

MIAMI, June 5, 2024 /PRNewswire/ — IDC Network, a diversified private equity and venture capital asset manager and parent company of IDC Ventures, a global venture capital firm specializing in fintech and marketplaces, today announced the launch of its newly created credit and flexible capital arm, IDC Arena Credit Ventures, through the formation of a strategic partnership with Arena Investors, LP. Arena Investors is a global institutional investment manager with a robust track record of providing creative capital solutions to underserved borrowers globally. This partnership is set to create a powerhouse for financing innovative technology ventures for companies at critical growth stages.

The strategic partnership combines IDC’s expertise in deal structuring and early to growth-stage technology investments with Arena’s robust capabilities in financing solutions. Together, IDC Network and Arena Investors are well-positioned to provide tech entrepreneurs with unique financing alternatives. Melissa Ramirez, Managing Partner of IDC Network, will lead IDC’s Venture Debt arm and the strategic partnership. She will also serve as a liaison between Arena, IDC Ventures, and other initiatives across IDC Network.

“Partnering with Arena Investors is another significant step towards consolidating our Venture Capital platform globally. I’m excited to double down on our strategic goal to support the next generation of tech leaders with alternative, smart, and flexible capital tailored to their specific needs,” commented Melissa Ramirez, Managing Partner at IDC Network and IDC Arena Credit Ventures. “This partnership will enable us to capitalize on the significant demand for non-dilutive capital we are seeing in the market, particularly from high-quality, disciplined tech companies. By combining Arena’s exceptional debt financing capabilities and our deep tech industry insights and ecosystem access we aim to fuel the growth of pioneering technology firms in a highly underserved market.”

Arena Investors brings to the partnership a wealth of experience and a strong investment history, having deployed over $5 billion in capital across various asset types in special situations investments.  CEO and CIO Dan Zwirn began investing in venture capital over 25 years ago and was involved in the creation of several noteworthy platforms in the space including Horizon Technology Finance and Hercules Capital. “We are thrilled to join forces with IDC, a long standing, well-regarded asset manager and major player in the venture capital space,” said Joe Salameh, Managing Director of Corporate Private Investments at Arena Investors. “This collaboration is poised to fill a large void in venture debt capital.  We are excited to provide solutions and flexibility that start-ups need to thrive in today’s environment.”

The strategic partnership aims to address the growing demand for non-dilutive funding options in the tech sector, providing bespoke financial solutions that are tailored to the specific needs of tech and tech-enabled businesses. By combining resources, expertise, and networks, IDC and Arena Investors will enhance their ability to support high-potential companies and drive innovation in the technology landscape.

About IDC Network
Established in 1995, IDC Network (IDC) is a diversified multi-fund platform. IDC focuses on partnering with strategic investors, managing and co-managing funds across multiple sectors including Private Equity, Energy & Infrastructure, Ventures, Capital Markets, Real Estate, and Impact. Active across Latin America, the US, and Europe, IDC is proud to be the Partner of Choice for more than 150 of the world’s most influential families from 26 countries. Learn more at IDCNetwork.com.

About IDC Ventures
IDC Ventures (IDCV) is the venture capital arm of IDC Network, a global multi-fund asset manager. More than just a fund, IDC Ventures acts as the Partner of Choice to more than 150 family offices for a diversified set of venture capital-related opportunities, managing proprietary funds, co-investment opportunities, and co-managed funds in partnership with top-tier managers who bring specialized industry expertise. IDCV is an active partner with entrepreneurs, helping founders from earlier stages through exit. IDCV mostly leads rounds and takes board of director seats offering a wide range of expertise based on successful founder, banking, and consulting experiences. Since its founding in 2019, IDCV has backed industry-defining founders from Series A to growth stages across Europe, the US, and Latin America (mainly Brazil and Mexico), primarily focusing on fintech and marketplaces through its flagship funds. Learn more by visiting IDCVentures.com.

About Arena Investors, LP
Arena Investors, LP is an institutional asset manager founded in partnership with The Westaim Corporation (TSXV: WED). With approximately $3.5 billion of assets under management (as of May 1, 2024) and a team of over 180 employees in offices globally, Arena provides creative solutions for those seeking capital in special situations. The firm brings individuals with decades of experience, a track record of comfort with complexity, the ability to deliver within time constraints, and the flexibility to engage in transactions that cannot be addressed by banks and other conventional financial institutions. See www.arenaco.com for more information.

Contact:

IDC:
Benito Besada
Benito.Besada@idcventures.com

Prosek Partners:
Joshua Clarkson
pro-arena@prosek.com 

Arena Investors:
Parag Shah
ir@arenaco.com 

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SOURCE IDC Network

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BASX Hosts Ribbon-Cutting Ceremony for New State-of-the-Art Weld Shop

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REDMOND, Ore., Sept. 19, 2024 /PRNewswire/ — BASX (“BASX” or the “Company”), a leader in the manufacturing of high-efficiency data center cooling solutions, cleanroom systems, and custom HVAC systems, is proud to announce the official ribbon-cutting ceremony for its newly completed 36,000-square-foot weld shop. The Redmond Chamber of Commerce performed the ribbon cutting on September 18th, 2024, at BASX headquarters.

The weld shop will create significant job opportunities in the Central Oregon region, with the capacity to fill an additional 30 welding positions. Positions range from entry-level to experienced roles, with professional opportunities in various growing departments within the Company.

“This new facility is a major investment not just in our company, but in the future of Central Oregon,” said Dave Benson, AAON VP and BASX President. “We can now deliver even higher levels of quality and efficiency while providing more job opportunities for the community. We’re proud to support local manufacturing growth and look forward to seeing the impact this expansion will have on both BASX and the region.”

The new shop marks a major expansion in the Company’s production capabilities, introducing state-of-the-art welding technology within a climate-controlled environment. Equipped with advanced air filtration systems, including an AAON make-up air unit and multiple air scrubbers, the shop ensures exceptional air quality for its workers. The space also features two 5-ton overhead cranes and six ½-ton cantilever jib cranes, allowing for efficient movement of materials across the facility.

A key highlight of the facility is its cutting-edge tube laser, capable of precision cutting and profiling round and square tubes, as well as C-channel and I-beam profiles up to 27 feet in length. Additionally, a 75-foot-long dual-zone robotic welding cell is scheduled to be installed and operational in early 2025, enabling the welding of large subassemblies up to 10 tons.

The shop’s innovative capabilities will support the Company’s growth and solidify its position for ongoing expansion. In addition to the 30 new welding jobs, BASX is actively hiring across various departments to support its continued success. To learn more about available positions and apply, visit the BASX careers page at www.basxsolutions.com/careers.

About BASX
Founded in 2014 in Central Oregon, BASX is an industry leader in the manufacturing of high-efficiency data center cooling solutions, cleanroom systems, custom HVAC systems, and modular solutions. Acquired by AAON in 2021, BASX continues to focus on quality, innovation, and state-of-the-art technology. The Company is proud to display the Made-in-America emblem on all its products. For more information, please visit www.basx.com.

Contact Information
Christina Lattanzio
Marketing Manager
(918) 508-9272
Email: Marketing@basx.com

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SOURCE AAON

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NASA Sets Coverage for Astronaut Tracy C. Dyson, Crewmates Return

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WASHINGTON, Sept. 19, 2024 /PRNewswire/ — NASA astronaut Tracy C. Dyson, accompanied by Roscosmos cosmonauts Nikolai Chub and Oleg Kononenko, will depart from the International Space Station aboard the Soyuz MS-25 spacecraft, and return to Earth.

Dyson, Chub, and Kononenko will undock from the orbiting laboratory’s Prichal module at 4:37 a.m. EDT Monday, Sept. 23, heading for a parachute-assisted landing at 8 a.m. (5 p.m. Kazakhstan time) on the steppe of Kazakhstan, southeast of the town of Dzhezkazgan.

NASA’s live coverage of return and related activities will stream on NASA+ and the agency’s website. Learn how to stream NASA content through a variety of platforms, including social media.

A change of command ceremony also will stream on NASA platforms at 10:15 a.m. Sunday, Sept. 22. Kononenko will hand over station command to NASA astronaut Suni Williams for Expedition 72, which begins at the time of undocking.

Spanning 184 days in space, Dyson’s mission includes covering 2,944 orbits of the Earth and a journey of 78 million miles. The Soyuz MS-25 spacecraft launched March 23, and arrived at the station March 25, with Dyson, Roscosmos cosmonaut Oleg Novitskiy, and spaceflight participant Marina Vasilevskaya of Belarus. Novitskiy and Vasilevskaya were aboard the station for 12 days before returning home with NASA astronaut Loral O’Hara on April 6.

Kononenko and Chub, who launched with O’Hara to the station on the Soyuz MS-24 spacecraft last September, will return after 374 days in space and a trip of 158.6 million miles, spanning 5,984 orbits.

Dyson spent her fourth spaceflight aboard the station as an Expedition 70 and 71 flight engineer, and departs with Kononenko, completing his fifth flight into space and accruing an all-time record 1,111 days in orbit, and Chub, who completed his first spaceflight.

After returning to Earth, the three crew members will fly on a helicopter from the landing site to the recovery staging city of Karaganda, Kazakhstan. Dyson will board a NASA plane and return to Houston, while Kononenko and Chub will depart for a training base in Star City, Russia.

NASA’s coverage is as follows (all times Eastern and subject to change based on real-time operations):

Sunday, Sept. 22
10:15 a.m. – Expedition 71/72 change of command ceremony begins on NASA+ and the agency’s website.

Monday, Sept. 23
12:45 a.m. – Hatch closing coverage begins on NASA+ and the agency’s website.

1:05 a.m. – Hatch closing

4 a.m. – Undocking coverage begins on NASA+ and the agency’s website.

4:37 a.m. – Undocking

6:45 a.m. – Coverage begins for deorbit burn, entry, and landing on NASA+ and the agency’s website.

7:05 a.m. – Deorbit burn

8 a.m. – Landing

For more than two decades, people have lived and worked continuously aboard the International Space Station, advancing scientific knowledge, and making research breakthroughs that are not possible on Earth. The station is a critical testbed for NASA to understand and overcome the challenges of long-duration spaceflight and to expand commercial opportunities in low Earth orbit. As commercial companies focus on providing human space transportation services and destinations as part of a robust low Earth orbit economy, NASA is focusing more resources on deep space missions to the Moon as part of Artemis in preparation for future human missions to Mars.

Learn more about International Space Station research and operations at:

https://www.nasa.gov/station

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SOURCE NASA

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Global claims guidance leader EvolutionIQ joins as CALI’s inaugural Life Partner

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NEW YORK, Sept. 20, 2024 /PRNewswire/ — US-based EvolutionIQ, a global leader in claims guidance technology, has signed on as the Council of Australian Life Insurers (CALI)’s first Life Partner as part of its corporate partner program.

The CALI Partner Program is designed to foster collaboration and create a connected ecosystem of industry experts.

CALI Life Partners share the industry’s mission to make life insurance accessible, understandable and trusted. They are companies that support Australian life insurers to help Australians and their families have peace of mind about their future so they can live in the most healthy, confident and secure way.

“We are pleased to welcome EvolutionIQ as CALI’s inaugural Life Partner. The CALI Partner Program plays an important role in connecting our members to the latest innovators, like EvolutionIQ, that can move their businesses forward,” said CALI CEO Christine Cupitt.

“We want to work closely with each of our partners to strengthen and support the life insurance industry to deliver better customer experiences for millions of Australians on their best and worst days.”

Headquartered in New York, EvolutionIQ has expanded significantly since 2019. Its clients include major insurance carriers such as Sun Life, Reliance Matrix and Principal Financial. Their AI-powered software makes insurance claims processes more personalised, fair and cost-effective so that more people can recover faster and return to work.

“We are committed to supporting the Australian life insurance ecosystem and being a CALI Life Partner enables us to specialise our products to meet the dynamic needs of the Australian markets,” said EvolutionIQ’s Co-CEO, Mike Saltzman.

“Our partnership with CALI means we can contribute to and shape customer experiences in Australia, and ultimately help more people return to health and a livelihood sooner.”

About EvolutionIQ
EvolutionIQ pioneered Claims Guidance in 2019. Its explainable AI guides insurance claims professionals to their highest potential impact claims, improving the claimant experience and delivering better claim outcomes to claimants, carriers and their customers. EvolutionIQ serves the group disability, individual disability and workers’ compensation markets worldwide. EvolutionIQ’s AI native products have been adopted by 70% of the top 15 U.S. disability carriers and a growing list of workers’ compensation carriers. The New York-based company employs 185 staff across the United States, Europe and Australia. For more information, visit evolutioniq.com and follow the company on LinkedIn.

About CALI
We support Australians to make informed choices about their future and help them live in a healthy, confident and secure way over their lifetime.

Our members’ products and services give people peace of mind when making important decisions and provide a financial safety net during life’s biggest challenges.

We advocate for national policy settings that expand Australians’ access to the life insurance protection that suits them when they need it most.

CALI represents all life insurers and reinsurers in Australia. The Australian life insurance industry is today a $26.4billion industry, employing thousands of Australians and paying billions of dollars of benefits each year.

To view CALI’s corporate partners visit www.cali.org.au/about-us/#our-partners

For more information, visit www.cali.org.au

Media Contact
Jason Kapler
Vice President of Marketing
EvolutionIQ
(917) 740-5608
Press@evolutioniq.com

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View original content:https://www.prnewswire.com/apac/news-releases/global-claims-guidance-leader-evolutioniq-joins-as-calis-inaugural-life-partner-302253427.html

SOURCE EvolutionIQ

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