Snell & Wilmer Advises Hardtech Investment Firm Pangaea Ventures As It Leads Series A Funding Round of Compact Membrane SystemsAugust 2, 2023
SAN DIEGO – Snell & Wilmer represented hardtech investment firm Pangaea Ventures as it led the Series A funding round of Compact Membrane Systems (CMS), a pioneer in advanced membrane technology. The round was led by Pangaea Ventures and is the second investment of the firm’s new fund, Pangaea Ventures Impact Fund, LP. The oversubscribed Series A funding round of $16.5M is expected to accelerate the development and commercialization of their olefins and carbon capture solutions, with the goal of delivering a low-cost, fully electrified solution by 2026.
“We are excited to support CMS as they work to bring their innovative carbon capture technology to market,” said Chris Erickson, Partner at Pangaea Ventures in a recent press release. “Their technology has the potential to significantly reduce carbon emissions from industrial processes, and we look forward to seeing their continued progress.”
Daniel McEvers Mahoney and Bardia Moayedi led the Snell & Wilmer team advising Pangaea Ventures in the deal. The diverse team included Bahar A. Schippel, Greg Gautam, Christopher Franich, Sarah Hibbard, and Paralegal Scott Drake.
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