Ask Capiva SWWellness · SPV · USA · direct investment · first invested Aug 2019
Sentia Wellness
ExitedInvested$125kat cost · 1 ticket
Realised$19.9kproceeds
MOIC0.16xrealised
Ownership—no cap table on file
Next round—none recorded
IRR-61.4%workbook, per ticket dates
Thesis vs. reality · what we underwrote at entry, measured against now
What must be trueEach claim is what the company said would be true, checked against the filed accounts and later updates. A claim with no second source stays on watch.
Entry memo on fileInvestment Memo - Sentia.docx · Oct 2021. Its claims have not been extracted, so nothing is tracked against it yet. Not tracked
Latest event · May 2021
Kadenwood to acquire substantially all of Sentia's assets for $60MM of Kadenwood Series B stock (Series B valuation $250MM; $20MM earn-out). Debenture holders convert to preferred; future proceeds: first $100MM to debenture holders, then 45% common / 40% debenture holders / 15% management.
Watch & flags
What to keep an eye on
NoteSentia second distribution ($5,148.70 for Incubayt) is not in the IRR workbook
Our position
PositionIncubayt's tickets and marks come from the IRR workbook; the legal entity from the company's cap table or registers.
InstrumentsSPV $125k (Aug 2019)
Company valuation—
BoardNot recorded
Legal entityNot recorded