Confidential — Do Not Distribute

Portfolia Direct Investment Program

Direct investments.

Since 2020, Portfolia has taken later-stage positions — through special purpose vehicles — in portfolio companies surging in growth and leading their categories. These are the proof points — and what the Portfolia Opportunity Fund thesis is built on.

$21.7MInvested
$500K–$5M+Check size range
$27.6MCurrent value
Series C+Stage focus
Projections & Assumptions

Direct Investment Program Projections

As of 6/30/26
CompanyDateInvestment amountStage at entry Initial valuationCurrent valuationProjected exit valueProjected multiple
Maven Clinic5/8/20$603KSeries C $200M$1.7B$6.7B14.2x
Madison Reed11/19/21$2.71MSeries G $600M$600M$2.4B4.0x
GrubMarket3/31/22$1.81MSeries F $2.0B$4.5B$11.25B4.7x
YourChoice9/9/22$722KSeries A $100M$100M$1B10.0x
Willow9/29/22$699KSeries C $250MRecapped—0.2x
Madison Reed SPV 29/5/23$524KSeries G $600M$600M$2.4B4.9x
Lighthouse Pharma9/18/23$432KSeed —$75M$500M10.8x
L-Nutra2/23/24$930KSeries D $438M$438M$875M2.0x
GrubMarket SPV 23/29/24$1.24MSeries G $3.5B$4.5B$11.25B3.0x
Hey Jane6/14/24$468KSeries A $50M$50M$140M2.8x
Canela Media8/21/24$1.57MSeries A $400M$400M$800M2.0x
Madison Reed SPV 310/21/24$684KSeries G $600M$600M$2.4B4.6x
b.well12/24/24$556KSeries C $225M$560M$1.1B5.4x
Bone Health3/13/25$356KSeries A $20M$42M$100M6.2x
Kind Designs3/19/25$1.16MSeed $30M$70M$350M11.6x
GrubMarket SPV 37/10/25$776KSeries H $4.5B$4.5B$11.25B2.5x
Mercy Bio7/16/25$784KSeries B $165M$165M$660M4.0x
Mirvie7/16/25$384KSeries C $195M$195M$780M4.0x
YourChoice SPV 28/20/25$928KSeries A $100M$100M$1B10.0x
Madison Reed SPV 44/8/26$1.24MSeries G $600M$600M$2.4B4.0x
Kind Designs SPV 24/30/26$1.00MSeed $70M$70M$350M5.0x
Lighthouse Pharma SPV 25/5/26$600KSeries A $75M$75M$500M6.7x
b.well SPV 26/30/26$1.55MSeries D $560M$560M$1.1B2.0x

Confidential. Projected exit values and multiples are Portfolia's estimates based on current valuations and company trajectory as of 6/30/26 — they are not guarantees, and actual outcomes may differ materially.

Company Profiles

The Companies in the Program
Maven Clinic
Women's Health · Series F

The largest virtual clinic for women's and family health, embedded in major US health plans. $200M → $1.7B valuation.

Madison Reed
Consumer · Series G

Clean, professional-quality hair color at home and through a growing network of Color Bar salons. Four Portfolia funds invested.

GrubMarket
Food Supply Chain · Pre-IPO

AI-driven food supply chain infrastructure connecting farms directly to grocers and restaurants. $1B → $4.5B, approaching IPO.

Willow
Women's Health · Consumer Device

The wearable breast pump that redefined the category — now a full line of products for new mothers.

YourChoice Therapeutics
Women's Health · Biotech

Developing the first non-hormonal male birth control pill, now in clinical trials.

Hey Jane
Women's Health · Telehealth

Virtual reproductive and sexual healthcare, delivering discreet, clinician-led treatment at scale.

Lighthouse Pharmaceuticals
Pharmaceuticals

Advancing therapeutics for conditions long overlooked by mainstream pharmaceutical pipelines.

L-Nutra
Longevity · Nutrition

Clinically validated fasting-mimicking nutrition programs built on two decades of longevity research.

Canela Media
Media · Series A

The fastest-growing Spanish-language streaming and advertising platform in the US. $10M → $400M valuation.

b.well Connected Health
Digital Health · Series D

Patient-controlled health data platform, now the AI health data provider for ChatGPT, Google and Samsung. 70x from entry.

Osteoboost
Women's Health · Medical Device

The first FDA-cleared prescription wearable to slow bone density loss from osteopenia — no drugs required.

Kind Designs
Greentech · Series A

3D-printed living sea walls that protect coastlines while restoring marine ecosystems. $18M → $70M.

Mercy BioAnalytics
Diagnostics · Oncology

Single-vesicle liquid biopsy technology built to detect ovarian and lung cancers at their earliest, most treatable stage.

Mirvie
Women's Health · Diagnostics

RNA-based blood tests that predict pregnancy complications such as preeclampsia months before symptoms appear.

Kauel
Emerging Markets · Enterprise AI

Computer vision and AI systems for heavy industry, deployed across mining, energy and logistics operations.

X-Therma
Biotech · Transplant

Biomimetic preservation technology extending the viable window for donor organs and cell therapies.

Collective Performance
4.11xProjected Net TVPIFull direct investment portfolio
36.6%Projected Net IRRBased on current valuations & trajectory
$107MProjected Portfolio ValueFrom $21.7M deployed since 2020
Join the Opportunity Fund

The next companies like these are coming.

These direct investments show the kind of company the Portfolia Opportunity Fund is built to back: later-stage, category-leading businesses that have already survived the hard early years.

investorrelations@portfolia.com · Accredited investors · Minimum $10,000

Portfolia
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