I. LETTER FROM THE FOUNDER
As we close out 2025, I want to extend my sincere gratitude to our limited partners, advisors, founders, and the many friends who have walked alongside Boyd Street Ventures on this journey. This year marks the third anniversary of launching BSV—an idea born on the campus of the University of Oklahoma and built around a simple belief: world-class innovation thrives when capital, collaboration, and hands-on guidance converge in the right ecosystem.
When we established BSV in 2022, our mission was clear: identify and support high-potential startups connected to OU, Oklahoma, and other under-resourced regions that are often overlooked by traditional venture capital. Three years in, that conviction has proven correct.
Three-Year Snapshot
We invested early and at favorable valuations—and then we went to work. BSV is not a passive investor. We help build companies.
II. PORTFOLIO COMPANY HIGHLIGHTS
A. Life Sciences & HealthTech Leaders
Luna
National expansion to more than 55 markets with strong enterprise adoption and continued revenue growth.
Wheeler Bio
Recognized as Venture of the Year, demonstrating strong commercial traction and growing industry validation.
Moat Biotech
Successfully completed Phase 1 clinical trials, and moving to Phase 2 trials to advance market solutions aligned with cancer prevention, public health preparedness and global immunization needs.
HeartCloud
Secured major medical practice commitments to support large-scale patient populations while advancing remote monitoring and chronic care management.
B. Fintech & Infrastructure Innovators
Ardley Technologies
Launched its Autopilot platform, transforming mortgage underwriting efficiency through advanced automation.
VesprSolar
Secured its first anchor commercial customer, validating market demand for its differentiated solar infrastructure solution.
C. Oklahoma-Based Advancements
Lumata Health, IV Ensure, Myri Health, Watkins Conti, and BP Endo
Each achieved key clinical, commercial, or regulatory milestones in 2025 and benefited directly from hands-on Venture Studio support.
*A full portfolio appendix is available upon request.
III. THE VENTURE STUDIO BY BSV
A defining differentiator for Boyd Street Ventures is the Venture Studio by BSV, our operational and commercialization engine designed to reduce risk and accelerate value creation. In 2025, more than 70% of the portfolio engaged Venture Studio support.
Key areas of impact include:
Our “Majority Wins” philosophy tailors support to the specific needs of each company rather than forcing a one-size-fits-all model. This hands-on approach has helped portfolio companies move faster, avoid common early-stage pitfalls, and build durable foundations for growth.
IV. COMMUNITY IMPACT & OKLAHOMA ENGAGEMENT
BSV’s identity as an Oklahoma-based venture firm remains central to our mission. In 2025, we deepened our engagement across the regional innovation ecosystem through:
The companies we support are not only growing revenue—they are contributing to job creation, talent retention, and the long-term strength of Oklahoma’s innovation economy.
V. LOOKING AHEAD TO 2026: DISCIPLINE, PREPARATION, AND OPPORTUNITY
As we look ahead to 2026, the private capital environment continues to evolve toward greater discipline, selectivity, and intentional value creation. The rapid deployment and growth-at-all-costs mindset of the early 2020s has given way to a market that rewards preparation, clarity, and execution.
Preparation as a Continuous Advantage
The strongest outcomes increasingly come from companies that treat exit readiness as an ongoing process rather than a point in time. Businesses that invest early in governance, metrics, leadership depth, and narrative positioning create optionality and negotiating strength.
Through the Venture Studio, BSV emphasizes these fundamentals from day one—helping founders build companies that are not only fundable, but durable.
The Power of Partnership
Market outcomes in 2025 reinforced that extraordinary results are rarely achieved alone. Companies that engaged the right partners early, investors, advisors, operators, and strategic collaborators—consistently outperformed those that waited until a transaction was imminent.
BSV’s model is built on partnership: with founders, with institutions, with universities, and with strategic operators who bring pattern recognition and execution capability.
Values, Legacy, and Long-Term Value
Another defining trend is the growing importance of values and legacy in defining success. Increasingly, founders and stakeholders are measuring outcomes not only by financial returns, but by how businesses endure, how people are treated, and how communities are impacted.
BSV’s roots in Oklahoma, its commitment to responsible growth, and its focus on university-linked innovation align well with this broader definition of success.
Opportunity in a Changing Environment
Macroeconomic shifts, technological acceleration, and evolving buyer behavior are creating new windows of opportunity. Companies that demonstrate adaptability, resilience, and strategic clarity are emerging as category leaders.
In this environment, platforms that combine capital with operational capability are increasingly advantaged. BSV enters 2026 with a portfolio shaped by these realities—built deliberately and supported actively.
CLOSING REFLECTION
Three years into our journey, Boyd Street Ventures has established itself as a differentiated venture platform, rooted in community, strengthened by partnership, and defined by execution.
We are grateful for the trust of our limited partners, advisors, and founders. As we move into 2026, we do so with confidence in the foundation we’ve built and clarity in how we will continue to create value, deliberately, responsibly, and with purpose.