Swiftarc Ventures
| Company type | Private |
|---|---|
| Industry | Venture capital |
| Founded | 2019 |
| Founders | Sid Jawahar |
| Headquarters | New York City, U.S. |
| Website | swiftarcventures.com |
Swiftarc Ventures is an American-based early and growth stage venture capital fund headquartered in New York City.[1]
Swiftarc also has offices in Miami, FL.
History
[edit]The Swiftarc Ventures was founded in 2019 by Sid Jawahar.
Investments
[edit]Switarc invests on telehealth and early-stage consumer tech and food sustainability companies.[2]
Its major invests include Intellihealth,[3] R-Zero, and Artiphon.[4]
The firm has two separate invest funds - Swiftarc Venture Labs Fund, Swiftarc Telehealth Fund.[5][6]
Controversy & Fraud
[edit]In 2022, Swiftarc Ventures founder Sid Jawahar was ordered to cease and desist from engaging in fraud after it was found that, since September 2019, Swiftarc Capital and Jawahar had been engaging in fraud by overvaluing an illiquid, sizable position owned by the Swiftarc Fund, LP (the “Fund”), which was managed by Swiftarc Capital and Jawahar. As a result of his fraudulent activity, Mr. Jawahar's fund, Swiftarc Capital, LLC, had its investment adviser registration revoked by the Texas Securities Commissioner.[7]
In direct violation of the Texas State Securities Board's order to cease and desist from engaging in fraud, Mr. Jawahar solicited a $1 million investment from an investor only weeks after the order was given. In December 2023, Sid Jawahar was indicted by a grand jury in the U.S. District Court in St. Louis on three counts of wire fraud and one count of investment adviser fraud. In January 2024, Mr. Jawahar was arrested in Miami. He could face up to 20 years in prison for each count of wire fraud and up to five years for investment fraud[8]
References
[edit]- ^ "Swiftarc Ventures LLC - Company Profile and News - Bloomberg Markets". www.bloomberg.com. Retrieved September 13, 2022.
- ^ "Why this venture capital firm is only hiring women in 2022". Fortune. Retrieved August 6, 2022.
- ^ Torrence, Rebecca (January 25, 2022). "First telehealth-focused VC fund launches with $75M for enterprise solutions in mental health, obesity, pediatrics". Fierce Healthcare. Retrieved September 13, 2022.
- ^ Билык, Кирилл (August 17, 2021). "Swiftarc Ventures запустил фонд для женских бьюти-стартапов". Rusbase (in Russian). Retrieved August 6, 2022.
- ^ "Pandemic prompts launch of new $75M US telemedicine fund from Swiftarc Ventures". TechCrunch. January 24, 2022. Retrieved August 6, 2022.
- ^ "Swiftarc Launched A Telehealth-Focused Venture Fund With $75 Million To Invest". OPEN MINDS. February 9, 2022. Retrieved August 6, 2022.
- ^ Ochoa, Christi (June 7, 2022). "Investment – Overvalued and Up in Smoke: Securities Commissioner revokes investment adviser for fraudulent overvaluing scheme". Texas State Securities Board. Retrieved June 7, 2022.
- ^ AttorneysOffice, US (January 8, 2024). "Notable Litigation - July 2023". DOJ. Retrieved January 8, 2024.