August 11, 2011
StepStone Angels Completes
Investment in FAST
INDIANAPOLIS- StepStone Angels, a statewide network of angel investors with chapters in Anderson, Indianapolis and Warsaw, completed its latest investment in FAST, an Indianapolis-based med tech company developing exciting new technology to measure kidney function in humans.
FAST marks the fifth portfolio company for StepStone Angels. “We are very excited to have completed the investment in FAST.” said Oscar Moralez, managing partner at StepStone Business Partners. “We were impressed with the progress made by Joe Muldoon and his team. They have a solid team, a solid business plan, and coupled with the support of a very strong board of directors and advisory team, we were confident they had the necessary components in place to make our investment. We look forward to supporting FAST in its efforts to develop and commercialize a truly valuable technology that has the potential to help many patients throughout the world.”
StepStone Angels was formed in January 2009 by StepStone Business Partners and is now comprised of multiple angel chapters across the state. The purpose of the network is to bring together accredited investors with promising startup or early stage technology companies to provide capital and other critical resources needed by the companies.
StepStone Business Partners oversees the coordination of chapters, investors and entrepreneurial companies and leads the deal filtering, review and transaction process on behalf of the investors. “StepStone Angels and other similar investor groups represent a critical piece of the “investment continuum” in the life cycle of a startup company. We are excited to be a part of this community and believe our efforts to create the first statewide network of angel chapters and investors will provide these companies with critical resources they need to be successful” Moralez said.
About FAST:
FAST’s patented technology provides rapid and accurate surveillance of true kidney function for use in hospitals, intensive care units, organ transplant units, clinical trials, drug development, and physician offices. The FAST GFR system™ enables healthcare providers with a sensitive tool to move from delayed estimates of Glomerular Filtration Rate (eGFR) to measured GFR in real-time (mGFR). This will significantly aid them in improving outcomes for millions of patients with acute kidney failure and chronic kidney disease.