- Private Equity
WDC Fund 1, LLC
Genelux is a privately held, late stage oncology focused biotech company, valued at the time at $200mm, with their lead candidate entering phase 3 trials for Ovarian Cancer. Through our vehicle, WDC Fund 1, we structured a convertible debt and warrant offering of up to $20mm with an attractive yield component and optionality to convert to equity at any time up to IPO. This deal was executed in September of 2020 with all funding finalized by December 2020.
“Finding the right partners is crucial for the long-term success of capital-intensive biotech companies, Genelux is fortunate to have found one in WDC. Their financial and sophisticated strategic support came during a crucial time and enabled us to advance our technology to the next, significant phase of clinical development.” – Thomas Zindrick, CEO Genelux
WDC Energy, LLC
In Fundare Resources we partnered with legendary oil man, Mike Starzer, and his stellar team including among others Cody Truitt and Daniel Seaver, to purchase for $187mm, the 69k net acre Redtail asset, with 70 tier 1 drilling locations, located in an exclusively rural area of Weld County Colorado. Through our vehicle, WDC Energy, we acquired 85% of the asset, which was producing ~7k boe/d from 319 operated wells, with a mix of about 53% oil, 31% nat gas, and 16% NGL’s. PSA was signed in July of 2021 and closing occurred in Septerber 2021.
“I have known and worked with Beau Woodward for over 20 years. Woodward Diversified Capital’s reputation for integrity, innovation and delivering exceptional returns for their investors complements the core values of our management and employee team. As we enter the current commodity super-cycle with increasing demand for energy, our companies are well positioned with approximately 40% crude oil and 60% natural gas and NGL production, an extensive gathering and midstream processing infrastructure and over $1.5 billion in Tier I development opportunities on 160,000 net acres. We are pleased to partner with WDC in Fundare, Moonrise Midstream and Rangeview Resources, providing reliable energy and creating jobs in the Rocky Mountain region.” - Mike Starzer, Executive Chairman of Fundare Resources Company
WDC Rondo, LLC
Rondo energy is working to solve the significant environmental challenge electric batteries pose to the renewable energy revolution. The Rondo heat battery works off of the old concept of ceramic bricks, re-engineered with new technology to decarbonize industrial heat. Rondo stores and transfers energy with 98% efficiency and at a fraction of the cost of comparables. Through our entity, WDC Rondo, we utilized a SAFE (Simple Agreement for Future Equity) to invest at a 15% discount with a valuation cap of $70mm back in September of 2021.
“Rondo Energy is pioneering new technology to accelerate industrial decarbonization and energy storage. Woodward Diversified Capital's forward thinking has helped connect us with investors whose values and focus align with ours. Working with them has positioned Rondo for growth and we’re excited about the next steps”. - John O’Donnell CEO Rondo Energy, Inc.
Rangeview Resources, LLC | WDC Energy II Green River LLC
Rangeview Resources is our second venture on the production side of hydrocarbons with the Fundare team. This 92k net acre property was purchased for $145mm, has 136 tier 1 drilling locations, and produces ~75% natural gas, 18% NGL’s, and 7% oil from 191 operated and 153 non-operated wells. Through WDC Energy II Green River we were able to acquire 85% of the equity with the remaining 15% ownership taken up by the executive team and board members. PSA was signed in May of 2022 and closing occurred July 1st of 2022.
“The Rangeview Green River assets continue Fundare’s strategy of buying producing properties with low risk and low production decline rate. We are excited about the drilling opportunities in the Green River asset with over 130 Tier I development wells and operating in Wyoming… Investment performance for WDC since the Redtail acquisition in September 2021 has been outstanding with production currently 15% over plan and EBITDA 70% over plan.” - Cody Truitt, CEO Fundare Resources Company / Rangeview Resources, LLC
WDC Energy, LLC
Moonrise Midstream was purchased in the above mentioned Redtail acquisition as a combined entity. We spun it out of Fundare Resources in May of 2022. With over 100 miles of pipelines and a gas facility capable of processing 105mmscfd this critical infrastructure to the region is well positioned to grow over the coming years, and kick out meaningful dividend income to our investment group.
“Moonrise Midstream assets are strategically located in an attractive area of the Northern DJ Basin, with over 100 miles of pipelines in the ground and gas processing facility capable of processing 105 MMscfd, the company will continue to expand work with offset upstream producers and midstream companies, while delivering strong cash flow back to the investors along the way” - Daniel Seaver, VP Midstream and Marketing for Fundare Resources Company