# Sandbox Industries: portfolio, investments and team

> Sandbox Industries is a corporate vc based in United States. 36 investments on record, latest Jul 2017. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/sandbox-industries (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Sandbox Industries

Filed with the SEC to raise a fund in Sep 2026, closing $80M. Last cheque observed Jul 2017.

Email

Quiet New fund $80M, Sept 2026 Corporate VC

Buyout Growth Pre-IPO Healthcare Insurance Sustainability

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Cheques on record

**0%** of best year **0** **cheques in 12 months**, 36 on record

Since the last cheque **3398** days **00** hrs **00** min **00** sec

Median round **$18M** Cheque size, as they say **$1.0M – $20M** Rounds led **0 of 36** Sole investor **5 rounds** Exits **5 from the portfolio** Mostly in **United States, 100%**

Pitch Sandbox Industries

## Sandbox Industries highlights

- 01 36 rounds on record
- 02 Mostly Seed and Series A: 71% of its rounds
- 03 Sole investor in 5 rounds, median $1.0M
- 04 5 exits from the portfolio

## What they do

> We invest in innovation to drive lasting change in human livelihood. From their own website

- **Type:** Corporate VC
- **Cheque size:** $1.0M – $20M as they say
- **Stages:** Buyout Growth Pre-IPO Pre-seed Seed Series A Series B
- **Sectors:** Healthcare Insurance Sustainability
- **Based in:** Chicago, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **36 appearances**

- **2017** 1 round
- **Jul** **[Solera Health](https://millionrounds.com/company/solera-health)** Series B · US · FinSMEs **$18M** With 1 other
- **2015** 4 rounds
- **Nov** **[Solera Health, Inc.](https://millionrounds.com/company/solera-health-inc)** Series A · US **$3.0M** With 1 other
- **Oct** **[Allay](https://millionrounds.com/company/allay)** Seed · US **$3.4M** With 7 others
- **Jul** **[Axial Healthcare](https://millionrounds.com/company/axial-healthcare)** Series A · US **$8.0M** With 2 others
- **Jun** **[AbilTo](https://millionrounds.com/company/abilto)** Series C · US **$12M** With 3 others
- **2014** 5 rounds
- **Sept** **[Lumiata](https://millionrounds.com/company/lumiata)** Series A · US **$6.0M** With 1 other
- **Sept** **[Axial Healthcare](https://millionrounds.com/company/axial-healthcare)** Series A · US **$1.8M** With 1 other
- **Jul** **[Aspire Health](https://millionrounds.com/company/aspire-health)** Series B · US **$5.5M** With 3 others
- **May** **[Essence Group Holdings](https://millionrounds.com/company/essence-group-holdings)** Growth · US **$71M** With 3 others
- **Mar** **[AbilTo](https://millionrounds.com/company/abilto)** Series B · US **$6.0M** With 2 others
- **2013** 7 rounds
- **Sept** **[PRSM Healthcare](https://millionrounds.com/company/prsm-healthcare)** Seed · US · medcitynews.com **$50K** With 3 others
- **Sept** **[Remedify](https://millionrounds.com/company/remedify)** Seed · US · medcitynews.com **$210K** With 3 others
- **Sept** **[ZeOmega](https://millionrounds.com/company/zeomega)** Growth · US · finsmes.com **$22M** With 2 others
- **Aug** **[doggyloot](https://millionrounds.com/company/doggyloot)** Series A · US · finsmes.com **$2.5M** With 1 other
- **Aug** **[Change Healthcare](https://millionrounds.com/company/change-healthcare)** Series D · US · gigaom.com **$15M** With 7 others
- **Apr** **[NaviHealth](https://millionrounds.com/company/navihealth)** Seed · US · finance.yahoo.com **$4.1M** With 3 others
- **Apr** **[EveryMove](https://millionrounds.com/company/everymove)** Series A · US · geekwire.com **$3.5M** With 3 others
- **2012** 7 rounds
- **Nov** **[CareSimply](https://millionrounds.com/company/caresimply)** Seed · US · aznow.biz **Undisclosed** With 1 other
- **Nov** **[Foodini](https://millionrounds.com/company/foodini)** Seed · US **Undisclosed** With 1 other
- **Nov** **[GetAFive](https://millionrounds.com/company/getafive)** Seed · US · eschoolnews.com **Undisclosed** With 1 other
- **Aug** **[Patientco](https://millionrounds.com/company/patientco)** Series A · US · finance.yahoo.com **$3.8M** With 1 other
- **Aug** **[CakeStyle](https://millionrounds.com/company/cakestyle)** Seed · US · techcrunch.com **$1.0M** Sole investor
- **Jan** **[Change Healthcare](https://millionrounds.com/company/change-healthcare)** Series C · US · changehealthcare.com **$9.3M** With 3 others
- **Jan** **[ScholarPRO](https://millionrounds.com/company/scholarpro)** Series A · US · portfolio.com **$1.0M** Sole investor
- **2011** 6 rounds
- **Sept** **[doggyloot](https://millionrounds.com/company/doggyloot)** Seed · US · finsmes.com **Undisclosed** Sole investor
- **Aug** **[BabbaCo (acquired by Barefoot Books in 2014)](https://millionrounds.com/company/babbaco-acquired-by-barefoot-books-in-2014)** Seed · US **$1.2M** With 6 others
- **Apr** **[FanGo Software Systems](https://millionrounds.com/company/fango-software-systems)** Series A · US **$175K** Sole investor
- **Mar** **[Alltuition](https://millionrounds.com/company/alltuition)** Seed · US · techcrunch.com **$1.0M** With 5 others
- **Jan** **[FeeFighters](https://millionrounds.com/company/feefighters)** Seed · US · techcrunch.com **$1.0M** With 4 others
- **Jan** **[BabbaCo](https://millionrounds.com/company/babbaco)** Seed · US **Undisclosed** With 1 other
- **2010** 4 rounds
- **Oct** **[Nexidia](https://millionrounds.com/company/nexidia)** Series F · US · businesswire.com **$23M** With 7 others
- **Oct** **[Lab42](https://millionrounds.com/company/lab42)** Seed · US **Undisclosed** Sole investor
- **May** **[Phreesia](https://millionrounds.com/company/phreesia)** Series D · US · businessinsider.com **$16M** With 5 others
- **Jan** **[Bloom Health](https://millionrounds.com/company/bloom-health)** Series A · US · bizjournals.com **$5.0M** With 1 other
- **2009** 1 round
- **Feb** **[Phreesia](https://millionrounds.com/company/phreesia)** Series C · US · dealbook.blogs.nytimes.com **$12M** With 4 others
- **2008** 1 round
- **Oct** **[Initiate Systems](https://millionrounds.com/company/initiate-systems)** Venture · US **$5.0M** With 1 other

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **10 named**

AH **Annahita Haghgooie** Member i Form ADV

AM **Ariel Meeyun Choi** General Counsel i Form ADV

CZ **Christopher Zock** Managing Member i Form ADV

ES **Emir Sandhu** Managing Member of the General Partner i Filing they signed

JC **Jennifer Charity Naylor** Chief Financial Officer i Form ADV

MJ **Matthew John Downs** Managing Member of the General Partner i Filing they signed

NR **Nicholas Rosa** Member i Form ADV

RB **Robert Bernard Shapiro** Member i Form ADV

SE **Steven Engelberg** Member i Form ADV

TH **Thomas Hawes** Managing Member of the General Partner i Filing they signed

We also hold **47** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$1.4B** gross assets of its funds, 3 advisers combined Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Sandbox Holdings, LLC
- **SEC number:** CRD 163451

## Exits from the portfolio

Companies it backed that were later bought or listed **5 in all**

**[NaviHealth](https://millionrounds.com/company/navihealth)** Bought by [Cardinal Health](https://millionrounds.com/fund/cardinal-health) **$410M** Aug 2015

**[Change Healthcare](https://millionrounds.com/company/change-healthcare)** Bought by Emdeon **$135M** Nov 2014

**[FeeFighters](https://millionrounds.com/company/feefighters)** Bought by [Groupon](https://millionrounds.com/fund/groupon) **Undisclosed** Mar 2012

**[FanGo Software Systems](https://millionrounds.com/company/fango-software-systems)** Bought by [GrubHub](https://millionrounds.com/fund/grubhub-community-fund) **Undisclosed** Aug 2011

**[Initiate Systems](https://millionrounds.com/company/initiate-systems)** Bought by [IBM (International Business Machines)](https://millionrounds.com/fund/ibm-international-business-machines) **Undisclosed** Feb 2010

An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$80M**

raised in Sept 2026

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Buyout Growth Pre-IPO

Median round joined **$18M** the round, not its cheque Alone, median **$1.0M**

Led 0 of 36 rounds **0%**

- **Said size:** $1.0M – $20M
- **Sole investor:** 5 rounds
- **Last cheque:** Jul 2017
- **Exits:** 5 from the portfolio

Rounds by stage said on their site

- Seed said *14*
- Series A said *10*
- Series C *3*
- Series B said *3*
- Growth said *2*
- Series D *2*
- Buyout said *-*

Cheques by year Led Joined

2008 2017

Often in the room with

- [The Blue Venture Fund](https://millionrounds.com/fund/bluecross-blueshield-venture-partners) 22
- [HLM Investment Partners](https://millionrounds.com/fund/hlm-investment-partners) 4
- [406 Ventures](https://millionrounds.com/fund/406-ventures) 3
- [Right Side Capital Management](https://millionrounds.com/fund/right-side-capital-management) 3
- [500 Global](https://millionrounds.com/fund/500-startups) 2
- [Ascension Ventures](https://millionrounds.com/fund/ascension-ventures) 2

**Pitching Sandbox Industries?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Sandbox Industries. A count of rooms they were both in, not a relationship either has claimed.

[**The Blue Venture Fund** Corporate VC **22** rounds together](https://millionrounds.com/fund/bluecross-blueshield-venture-partners)[**HLM Investment Partners** VC firm **4** rounds together](https://millionrounds.com/fund/hlm-investment-partners)[**406 Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/406-ventures)[**Right Side Capital Management** VC firm **3** rounds together](https://millionrounds.com/fund/right-side-capital-management)[**500 Global** Angel **2** rounds together](https://millionrounds.com/fund/500-startups)[**Ascension Ventures** Corporate VC **2** rounds together](https://millionrounds.com/fund/ascension-ventures)[**Gary Vaynerchuk** VC firm **2** rounds together](https://millionrounds.com/fund/gary-vaynerchuk)[**HCA** VC firm **2** rounds together](https://millionrounds.com/fund/hca-healthcare)[**Healthbox** Accelerator **2** rounds together](https://millionrounds.com/fund/healthbox)[**Hyde Park Angels** Angel network **2** rounds together](https://millionrounds.com/fund/hyde-park-angels)[**Long River Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/long-river-ventures)[**Mitsui & Co** Corporate VC **2** rounds together](https://millionrounds.com/fund/mitsui-and-co)

## Recently backed

The latest companies Sandbox Industries put money into.

[**Solera Health** $18M · Jul 2017](https://millionrounds.com/company/solera-health)

## Quick answers about Sandbox Industries

### What does Sandbox Industries invest in?

Sandbox Industries invests most often at Seed and Series A (71% of the rounds on record), in sectors such as Healthcare, Insurance and Sustainability.

### How active is Sandbox Industries?

36 investments on record, 0 of them in the last 12 months. The most recent was in Jul 2017.

### What has Sandbox Industries invested in recently?

Its most recent investments on record: Solera Health (Series B, Jul 2017).

### How big are Sandbox Industries's cheques?

The median round it joins is $18M. It says it writes cheques of $1.0M to $20M.

### Does Sandbox Industries lead rounds?

Rarely, if at all: none of its 36 investments on record names it as the lead.

### Where does Sandbox Industries invest?

Most of the companies it backs are in the United States (100%).

### Is Sandbox Industries investing now?

No investments in the last 12 months; the latest was in Jul 2017.

### Who does Sandbox Industries invest alongside?

Most often The Blue Venture Fund (22 rounds together), HLM Investment Partners (4 rounds together) and 406 Ventures (3 rounds together).

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