🦊/Investors

Emerald Development Managers

Venture capital

New York · Seed–Late Stage · 9 people tracked

Also known as EMERALD DEVELOPMENT MANAGERS LP

Find your way into Emerald Development Managers

1,647 people in our graph share verified history with the Emerald Development Managers team — schools, employers, funds. One of them is your warm intro.

Mark Goldbergunlockedknows Cy Schroeder · together at Morgan Stanley Wealth Management (overlapped)
knows the team · via Johns Hopkins University
×2knows the team · via Morgan Stanley Wealth Management
knows the team · via Cubit Ventures
×2knows the team · via Massachusetts Institute of Technology
×3knows the team · via PwC
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Investment thesis

Emerald invests in exceptional scientific and engineering teams solving real-world problems, partnering with entrepreneurs who can identify trends and build technical solutions. The firm takes a long-term view, providing not only capital but also expertise and hands-on involvement to help emerging companies mature. It focuses on guiding early-stage founders along a strategic path toward profitability, expanding market share, and sustained growth. Its portfolio spans deep science and engineering areas including cybersecurity, biotechnology, clean energy and decarbonization, healthtech, quantum technology, and industrial systems.

Source: firm website, verified Sep 15, 2026.

Stage
Seed–Late Stage
HQ
New York, MD, US
Instruments
Equity
Founded
1994
Last 12 months
1 investment
Private fund assets
$190.7M
VC funds
7
Tracked investments
28
Acquisitions
1

Team · 9 people

from the firm's website & public directories
Stephen Case· Managing Directorin

What they invest in

from 19 of 28 portfolio companies

Biotech ×7AI & Machine Learning ×6Cybersecurity ×5Enterprise Software ×5Hardware ×4New Materials ×4Advanced Manufacturing ×3Deep Tech ×3

HQs:United States×11Canada×1Germany×1

Who they back

founder profiles across 13 portfolio companies
62%
solo founders
8 of 13 mapped founding teams
46%
repeat founders
of 13 founders with career history

Founding team size:solo founder×82 founders×33 founders×14+ founders×1

Where their founders studiedfrom 13 founders with education data

The Johns Hopkins University ×2

What their founders studiedfrom 13 founders with field-of-study data

Economics ×3Engineering ×3Chemistry ×2Computer Science ×2

Investments · 28 tracked

founders shown can be your intro path

By year:2025 · 32022 · 12021 · 22020 · 12018 · 12017 · 19 dated

Americanrocksaltamericanrocksalt.com

American Rock Salt operates the largest salt mining facility in the United States, located in Hampton Corners, New York, and supplies de-icing rock salt to road maintenance agencies and contractors across the Northeast and surrounding regions to support public safety and winter road maintenance.

Advanced ManufacturingLogistics & Supply ChainNew MaterialsRochester, US

Axis Securityaxissecurity.comAcquired

Zero trust network access vendor whose cloud-based secure access platform was acquired by HPE in 2023.

Co-investorsBright Pixel CapitalCanaan PartnersCyberstartsTen ElevenSpark Capital

Cybsafecybsafe.comin

CybSafe hosts IMPACT, an annual research-focused event examining human factors in cybersecurity.

AI & Machine LearningCybersecurityEnterprise Software

Co-investorsEvolution Equity PartnersIQ Capital

Cywarecyware.comin𝕏Mar 2021

Cyware provides a cybersecurity platform that enriches, correlates, and operationalizes cyber threat intelligence across an organization's tools and teams, using AI to enable faster, automated, and collaborative threat responses.

AI & Machine LearningCybersecurityEnterprise SoftwareWest Orange, US

Anuj Goel(Co-Founder and CEO)inAkshat Jain(CTO and Co-Founder)in

Co-investorsTen ElevenAdvent InternationalMercato Partners

Etchmaterialsetchmaterials.com

ETCH develops a patented thermochemical process that converts natural gas (methane) into hydrogen and solid carbon without producing CO2, using earth-abundant minerals.

CleantechEnergyNew Materials

Evolvedbynatureevolvedbynature.comin

Evolved by Nature develops Activated Silk®, a biotech platform that extracts and engineers novel molecules from natural silk using its proprietary NoviCulture process to create biobased alternatives for applications in skincare, coatings, and materials.

BiotechCircular EconomyClimate TechNew Materials

Greensightaggreensightag.comin𝕏Oct 2017

GreenSight develops and manufactures catalog and fully custom robotic vehicles, selling standard designs directly as well as designing bespoke units for customers' specific applications.

AgTechDefense TechEdTechHardwareRoboticsBoston, US

James Peverill(Executive Officer, Director)inJustin McClellin(Executive Officer, Director)Joel Pedlikin(Executive Officer, Director)inWayne Crandall(Director)

Judijudi.healthin

Judi Health administers medical, dental, vision, and pharmacy benefits on a unified platform designed for health plans and employers.

Digital HealthEnterprise SoftwareHealthtechInsurTechSaaS

AJ Loiacono(Co-Founder & CEO)

Co-investorsAlumni VenturesB Capital GroupBasecamp FundEdison PartnersF-Prime CapitalGeneral Catalyst+2 more

Lifesproutbiolifesproutbio.comFeb 2018

LifeSprout develops synthetic materials that mimic the body's own tissues for aesthetic and regenerative medicine, creating products to treat patients with soft tissue loss from aging, cancer, and metabolic disease.

BiotechMedical DevicesNew MaterialsBaltimore, US

Hai-Quan Mao(Co-founder, PhD)Sashank Reddy(Co-founder, MD, PhD)Kevin Colbert(Co-founder, Business Development)inRuss Martin(Co-founder, Head of R&D, PhD)inAdam Gridley(Executive Chairman, MBA)

Co-investorsCatalio Capital Management, LPMaryland TEDCOTEDCO

Prosciaproscia.comin𝕏Mar 2025 · $50M

Proscia provides a digital pathology software platform that converts glass microscope slides into high-resolution digital images for viewing, management, and analysis by pathologists and research teams.

AI & Machine LearningBiotechHealthtechMedical DevicesPhiladelphia, US

David West, Jr.(Executive Officer, Director)David West(Executive Officer, Director)inDavid West, Sr.(Executive Officer, Director)

BoardAlex Niehenke(Director)inTom Loftus(Director)Robert Epstein(Director)

Co-investorsAlpha Intelligence CapitalFlybridge Capital PartnersFusionGreen Park & Golf VenturesHitachi VenturesMaryland TEDCO+8 more

Random Powerrandompower.euinSeed · Dec 2025 · $3M

Random Power develops true random number generators derived from silicon detector technology originally created for particle physics research at CERN.

CybersecurityDeep TechHardwareQuantum ComputingSemiconductors

Co-investorsLIFTTDeep Ocean Capital SGR S.P.A.Deep Ocean Capital SGR S.p.A.

SafeBreach Attack Simulation Platformsafebreach.comin𝕏

SafeBreach offers a continuous threat exposure management (CTEM) platform that combines breach and attack simulation, attack path validation, and an AI agent to help enterprise security teams identify, prioritize, and remediate cyber risk.

AI & Machine LearningCybersecurityEnterprise SoftwareSaaS

Guy Bejerano(CEO & Co-founder)inItzik Kotler(CTO & Co-founder)inMichal Weiner(Chief Financial Officer)inRaman Kumar(Chief Customer Officer)in

Co-investorsOCV PartnersBain CapitalDTCP33NBright Pixel CapitalDnx Ventures+2 more

Socuresocure.comin𝕏

Socure provides an AI-driven platform for digital identity verification, fraud prevention, and risk decisioning, serving enterprises and government agencies across financial services, gaming, healthcare, e-commerce, and other sectors.

AI & Machine LearningCybersecurityFintechNew York, US

John Ayers(Executive Officer, Director)in

BoardJohn F. Frankel(Director)inSunil Madhu(Executive Officer, Director)inAlessandro Piol(Director)Pavlo Protopapa(Director)Philip Eytan(Director)

Co-investorsAccelAlpha PartnersAltaIR CapitalAmity VenturesCommerce VenturesConnectivity Ventures+17 more

Sunflower TXsunflowertx.comin

Sunflower Therapeutics develops next-generation biomanufacturing technologies to reduce the complexity and cost of bringing biologic medicines to market.

Advanced ManufacturingBiotechDeep TechFoodTechHardwareAustin, US

Kerry R. Love(Founder, CEO & President)inKathryn Golden(Founder)inJ. Christopher Love(Founder, Chairman of the Board)in

Co-investorsAlwyn CapitalClear Current Capital

TBT Pharmatbtpharma.comDec 2020

TBT Pharma is a biotech company developing repurposed generic drugs to replace topical steroids as the standard of care for skin conditions such as psoriasis, chronic wounds, and orphan skin diseases.

BiotechHealthtechBaltimore, US

Steve Girgenti(Director)

BoardNeil Cohen(Director)inIan Tolfree(CEO & Founder)in

Torigen Pharmaceuticalstorigen.cominSeries A · May 2022 · $13M

BiotechFarmington, US

Ashley Kalinauskas(Executive Officer)inMark Suckow(Executive Officer, Director)Brad Poff(Executive Officer)Terry Dew(Executive Officer)

Co-investorsChloe CapitalConnecticut InnovationsLaunchpad Venture GroupGaingelsSoGal VenturesThe Fund

Transcend Therapeuticstranscendtherapeutics.comin

Transcend Therapeutics develops rapid-acting pharmaceutical treatments for neuropsychiatric diseases, including PTSD and depression, targeting patients unresponsive to current psychiatric medications.

BiotechDigital HealthMedical DevicesMental Health

Blake Mandell(Co-Founder & CEO)in

Co-investorsAlleyCorpAlpha Wave GlobalAlley Robotics Ventures

Unasoftwareunasoftware.comin

Una is a financial planning and analysis platform that integrates data from CRM, ERP, HRIS, and other enterprise systems to enable real-time forecasting, scenario modeling, and execution tracking.

AI & Machine LearningEnterprise SoftwareFintechSaaS

Don Mal(Co-founder)in

Co-investorsFlow Capital

Uviquityuviquity.comin

Uviquity develops photonic integrated circuits built on aluminum nitride that generate and convert light across wavelengths from deep ultraviolet through infrared on a single wafer-scale chip.

Deep TechQuantum ComputingSemiconductorsRaleigh, US

Russell Kanjorski(Founder)inM. SCOTT BURROUGHS(Executive Officer, Director, Promoter)

BoardCY SCHROEDER(Director)in

Watt Fuel Cellwattfuelcell.comin𝕏

WATT designs, develops, and manufactures small-scale Solid Oxide Fuel Cell (SOFC) systems that generate power at the point of use and can run on natural gas, propane, renewable natural gas, and hydrogen.

Advanced ManufacturingCleantechEnergyHardwareMt. Pleasant, US

Caine Finnerty(Founder)inMichael Joyce(Director)Travis Bradford(Executive Officer, Director)Roberto Sella(Director)Rocco Trotta(Director)Larry Hiler(Director)

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Babson DiagnosticsBabsondxBatonIntellihotSustained Nano SystemsTrueFortUna Software

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Emerald Development Managers made?
Emerald Development Managers has 28 tracked investments, 1 of which have exited, including 3 dated in the last 24 months.
What stage does Emerald Development Managers invest at?
Emerald Development Managers invests at the Seed, Series A, Late Stage stages.
What sectors does Emerald Development Managers focus on?
Emerald Development Managers focuses on Advanced Manufacturing, AI & Machine Learning, Biotech, Cleantech, Climate Tech, Cybersecurity, Deep Tech, Energy, Enterprise Software, Healthtech, Quantum Computing, SaaS.
Where is Emerald Development Managers located?
Emerald Development Managers is headquartered in New York, US.
Who does Emerald Development Managers co-invest with?
Emerald Development Managers most often shares deals with Maryland TEDCO, TEDCO, Ten Eleven, among 65 tracked co-investors.

Images

Emerald Development Managers photo

Co-investors · 1

Staircase Ventures

Staircase Ventures is a seed-stage venture firm that leads rounds into high-potential Canadian tech companies, focusing on accelerating founder development and performance.

Both backed · 1
Una Software
$1M – $2M

Firms observed investing alongside Emerald Development Managers, from public investor directories. Shared companies are the overlap with Emerald Development Managers's recorded portfolio.

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