Building Brilliant Tomorrows: Our 2025 Impact Report

Message from the Managing Partners

At Black Opal Ventures, we believe frontier technologies have the power to reshape industries, strengthen resilience and transform lives when directed at the world's most pressing challenges. As we reflect on another year of progress, we are proud to present our 2025 Impact Report, which highlights how our portfolio companies are advancing this vision.

From the beginning, we have focused on investing in breakthrough innovations that address unsolved problems in healthcare and beyond. At the end of 2025, our portfolio included 27 companies, each leveraging advancements in AI, robotics, bioengineering and resilient infrastructure to create scalable, impactful solutions. Their success is evident not only in financial performance, with revenue-generating companies achieving average growth of nearly 500 percent since investment, but also in their ability to drive real-world impact.

This year, we introduced the Impact GPA, a structured approach to measuring progress across our five unsolved problems:

• Uncured & Unmanaged Disease

• Lack of Access to Care & Unsustainable Costs

• Poor Quality & Systemic Disparities

• Security and Trust

• Resilient Infrastructure

By integrating this framework into our quarterly reviews, we ensure that impact remains central to our decision-making and transparent to our partners.

Our commitment to resilience extends beyond healthcare. We invest in technologies that secure critical infrastructure, protect data and empower communities to thrive in an uncertain world. Whether through AI-driven diagnostics, scalable cybersecurity solutions or next-generation biotech platforms, our goal remains the same. We back the companies that are building a future where innovation serves humanity.

As we look ahead, we are excited to continue this journey with our partners, portfolio companies and the broader Black Opal community. Together, we are investing in the possibility of better systems, better solutions and better outcomes for all.

You can access the report here.