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HBS Alumni Angels syndicates selected deals across the full global membership of its 14 chapters. This enables selected deals from one chapter to reach a global network of accredited investor alumni. This is a unique benefit of being a member in a local HBS Alumni Angel chapter. Investment decisions are made and executed individually following a global webinar. Once investments are made, investors often assist companies in other areas as formal or informal advisers. For details on how the process works, please scroll down.


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Thursday, June 22, 2023 9am PT, 12pm ET, 5pm London, 6pm Continental Europe

Presenter: Brad Larschan, CEO & Co-Founder of Avadain Graphene
Complimentary for HBS Angels Members


This is a follow-on event with HBS Angels
About this event:
On behalf of the Boston chapter, we would like to share the following investment opportunity:


High quality graphene is the lightest, strongest, thinnest, best thermal and electrical-conducting material ever discovered. Avadain, Inc. has a green, globally patented, breakthrough technology to manufacture large, thin and nearly defect free (LTDF) graphene flakes – exactly what the $100 billion graphene market is waiting for. We have no known competitors. We are currently working with Southwest Research Institute (SwRI) and the Rapid Advancement in Process Intensification Deployment (RAPID) Manufacturing Institute to scale up our process to mass production funded by a non-dilutive Federal grant. We will license our technology to advanced materials manufacturers. We expect to be cash flow positive in 2024 and to achieve an exit in 2026-2028.

The Graphene Council, the leading source for graphene commercial application production and research intelligence, says demand for graphene is burgeoning and will reach 300,000-600,000 mt by 2027, of which 10%-15% is for LTDF graphene. What industry lacks is a reliable source of LTDF graphene in industrial volumes at affordable cost. This is the market opportunity Avadain targets. Sectors that can immediately benefit from Avadain’s graphene include supercapacitors, EV batteries, renewable energy storage, solar cells, water filtration/purification, electronics and many aspects of defense.

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Adding a tiny bit of graphene to thousands of products can substantially improve performance. For example, adding 0.50% of Avadain’s graphene flakes (less than $10) to a supercapacitor’s electrodes enabled faster charging/discharging, 100% depth of discharge and increased power density. It also enabled constant specific capacitance as the discharge current increased.  In stark contrast, reduced graphene oxide (rGO) and carbon black had declining specific capacitance. This is great news for the transportation (EVs, HVs, electric buses and electric trains), consumer electronics and energy industries, which are increasingly relying on supercapacitors to improve performance.

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Avadain uses an environmentally friendly process that overcomes the technical challenges which have thus far thwarted others from manufacturing industrial quantities of high-quality graphene. We have no known competitors.

The US’ #1 IP law firm, Fish & Richardson, filed four patent applications to date, the first of which is granted in 12 countries (including the US) and is pending in a dozen more. The other three patent applications are pending. We plan to file additional patents to ring fence our highly differentiated technology.  Avadain owns all of the patents and applications.

Panasonic has been backing our technology since 2017. It has a representative on our Board and is active in decision making. In March 2022, the Department of Commerce made a $3.77 million project grant to upscale our technology and demonstrate the fantastic properties of our flakes in two high profile coronavirus applications. 

Our technology was developed by the Fraunhofer Institute for Applied Solid State Physics.  It is proven in a batch process and validated with peer reviewed research.  We have strong development partners in SwRI and RAPID. These well-respected organizations are collaborating on the upscaling of our technology to mass production. SwRI has deep expertise in electrochemistry and graphene. RAPID has deep expertise in process design, cost optimization and accelerating process development from pilot to mass production.
We will license our technology to advanced materials companies, graphene applications companies and end-users with a mission critical need for high quality graphene. Our capital- light licensing model allows rapid, flexible scaling to meet The Graphene Council’s projected demand for LTDF graphene.


Our management team is solid and seasoned, and we’ve worked together on various projects for over 20 years. 


We have raised $7 million ($3.13 million dilutive) and ($3.87 million non-dilutive) funding. Avadain concluded a successful equity crowdfunding campaign in July 2022, raising $1.36 million at $4 per share.

We are currently seeking $3.6 million to reach cash flow positive in 2024. With this new funding, we will produce samples, demonstrate our flakes in supercapacitors and EV batteries, begin licensing industrial-scale continuous production of high-quality graphene flakes and enter into the first license agreement.

With significant recurring licensing revenue from a large and rapidly growing market, we believe Avadain will be a very attractive acquisition candidate by 2026-2028.




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Brad Larschan co-founded Avadain and has been involved with the development and patenting of Avadain’s technology since 2016. He has served on Avadain’s Board of Directors since its inception and arranged early investment in Avadain’s technology by Panasonic. Mr. Larschan has extensive experience in the development and commercialization of breakthrough technologies, including co-founding and leading Bastille LLC, which commercializes disruptive technologies created by universities and research institutions worldwide. Mr. Larschan has extensive expertise in patenting to support commercialization and enforcement of IP-based technologies.  He is a member of the IAM Strategy 300: The World’s Leading IP Strategists, which identifies individuals leading the development and implementation of strategies that maximize the value of IP portfolios. Mr. Larschan has held leadership roles in a number of start-up and early-stage companies since 1993. Before that, he was an international lawyer in Washington, DC.  Mr. Larschan has a BS (magna cum laude) in journalism and politics from Boston University; MALD (high honors) from the Fletcher School of Law and Diplomacy (concentration: international law, international security studies, diplomatic history & international energy policy); JD (cum laude) from Boston College Law School.


Previous Syndication Call

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Thursday, April 27, 2023 9am PT, 12pm ET, 5pm London, 6pm Continental Europe

Presenter: Hal Eason, CEO of Momtech, Inc.
Complimentary for HBS Angels Members


This is a follow-on event with HBS Angels

MOMI - Momtech


Momtech is commercializing revolutionary patented technologies for “the breast pump that works like a baby” and “the bottle that works like a mom”.  Invented by the former president of North America’s leading breast pump company, Momtech’s products are the first of their kind to solve big problems for moms and their babies by replicating the biomechanical function of natural nursing.


Watch our technology explainer animation here: …and watch the five-minute version of our investor pitch here:



Today’s breast pump and bottle nipple technologies do not replicate the important biomechanical properties of natural nursing.  Every breast pump on the market today operates on a single common principle of physics:  negative pressure (vacuum).  This results in painful swelling of the breast tissue:  77% of moms recently surveyed say they hate their breast pumps, and 60% say their pumps cause pain.  Similarly, every bottle nipple on the market today has four physiological traits in common, which distinguish them from the natural nipple.  Conventional bottle nipples are hollow, are made out of a hard silicone, are minimally stretchable, and most importantly, continue to allow milk to flow even when compressed.  This results in nipple confusion, bottle refusal, excessive regurgitation, overfeeding, and other complications.



Momtech’s patented “breast pump that works like a baby” is the only pump that uses both positive AND negative pressure to extract milk, replicating the action of the baby’s tongue to apply positive pressure to the nipple tissue, compressing it to reduce swelling and prevent pain.  Our patented “bottle that works like a mom” is the first bottle nipple that resembles the natural nipple physiologically: solid, soft, and stretchy, enabling the baby to regulate the flow of milk by compression with the tongue.


Markets, Commercialization, & IP

Across both product lines Momtech targets a $4B global market.  The feeding system (bottle) launched at the end of 2022, with sales reaching $47,000 in March 2023.  The breast pump is targeted to reach the market in by end of 2024.  The breast pump is a Class II medical device and will pursue regulatory approval through the 510K pathway.  Recent clinical study participants overwhelmingly rate the Momtech breast pump more comfortable than their current pump.  Many even rate it more comfortable than nursing.


Momtech holds nine issued US patents covering both core technologies, plus numerous international counterparts and pending applications.


Management Team

Carr Lane Quackenbush, PhD, co-founder, inventor, Chairman, and Chief Innovation Officer, formerly served as president of Medela, Inc., North America’s leading breast pump company.  During his 11-year tenure he led the company through a period of unprecedented growth.


Hal Eason, co-founder and CEO, is a 25-year serial entrepreneur with experience in technology commercialization.  He is a former Bain strategy consultant and holds an MBA from HBS (Baker Scholar, John L. Loeb Fellow).


Kristen Fields, VP of Marketing, previously grew L’Oréal’s $100M “essie” brand from 12% to 20% market share over a six-year period.


Meg Alden, MD, Chief Medical Officer, is a practicing pediatrician, biomedical engineer, and mother of two.



Momtech is raising $3M to complete the development of the breast pump and to scale sales & marketing of the feeding system.  The offering is for convertible notes with a $17M conversion cap and 20% conversion discount.  More than half the round has been committed, mostly from current investors, many of whom are HBSAA members who first learned of Momtech in our 2021 global syndication pitch.


Also investing $300K in the current round is a strategic partner, BLUR Product Development, the medical device firm developing the company’s breast pump. 




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Hal Eason is a serial entrepreneur with expertise in commercializing early stage technologies.  His prior startups include ventures in cell therapy and molecular diagnostics, among others.  He especially enjoys working with technologies that have the potential to have a positive impact on human health and society.


He has also designed and facilitated immersive strategic leadership development experiences for executives of Fortune 100 companies, delivering programs in eighteen countries on five continents.


Previously Hal was a private equity strategy consultant with Bain & Company in Boston.  He holds an M.B.A. with High Distinction from Harvard Business School, a Master of Divinity degree from Southwestern Baptist Theological Seminary, and a B.A. from Vanderbilt University.


Hal enjoys travel and dining with his wife, spending time with his two adult sons, playing golf, and mentoring other entrepreneurs through the Winston Starts accelerator in Winston-Salem, North Carolina.



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A company must meet a threshold of member investment in one of our HBS Alumni Angel Chapters listed here. The leadership of the host chapter nominates the company for global syndication and provides a local member contact to act as syndication lead and a company contact.


Ideally, for global syndication a company should meet the following requirements:

  • Local host chapter members committed to invest at least $50,000* and local chapter forwards deal to global for syndication; 

  • Company assures at least $50,000-100,000 investible capacity;

  • Company provides at least 2 weeks for due diligence following the webinar, prior to requiring an investment decision;

  • Minimum individual investment amount is set at $25,000 or less;

  • Company agrees to a one-time admin fee of $1500.

The Global Syndication Committee selects the most suitable company candidates from the 15 participating HBSAA chapters and is aiming to host monthly webinars. 

*NY and other larger chapters may have a $100,000 min.

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