Client News/Details

Snell & Wilmer Advises Hardtech Investment Firm Pangaea Ventures As It Leads Series A Funding Round of Compact Membrane Systems

August 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.

Snell & Wilmer's corporate and securities attorneys have served as counsel to a substantial number of clients ranging from Fortune 100 companies to smaller emerging businesses. Our attorneys have provided sophisticated legal representation to biotech companies, health care and financial institutions, public utilities, homebuilders, transportation companies, restaurant and hospitality providers, athletic complexes, fitness facilities and many other types of businesses. Snell & Wilmer’s venture capital and private equity practice covers multiple aspects of the transactional arena involving public and private companies, including the structuring and execution of majority buyouts and minority investments, acquisitions (including buy- and sell-side deals, as well as negotiated and auction deals), financings (including 144A transactions and PIPEs), going-private transactions, and spin-off transactions. Our venture capital and private equity attorneys advise both domestic and international funds, including venture capital, private equity, hedge, mezzanine, real estate opportunity, fund-of-funds, exchange, and other private investment funds.