Description
Cal-X Stars (officially Cal-X Stars Business Accelerator, Inc.) is an Irvine-based innovation factory and accelerator that specializes in two primary sectors: organ regeneration (biomedical/cardiovascular) and social good impact. It is the primary vehicle for launching inventions from Leonhardt Ventures LLC and also accepts external startups.
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Seed and Pre-Seed: The accelerator is designed for early-stage innovations, specifically those moving from lab research through "first-in-human" clinical studies.
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Expansion Stages: Through its 5-year intensive program, it continues to support startups through follow-on funding rounds as they scale toward commercialization or acquisition.
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Percentage Equity: In exchange for mentorship and services, the accelerator receives a 9% seed-stage ownership interest (anti-dilutive).
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Pre-emptive Rights: Cal-X Stars maintains the right to purchase additional equity up to a 20% total ownership stake right up to the company's exit or graduation.
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Investment Amount: While direct cash amounts vary by deal, participants gain access to "millions in in-kind support" and the primary backing of Leonhardt Ventures, which has historically deployed over $145 million across its portfolio.
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108-Day Bootcamp: A rapid launch program called "Create to Great in 108" through its subsidiary, Cal-Xelerator.
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5-Year Accelerator: An intensive long-term partnership where Cal-X Stars acts as a "working co-founder," assisting in product design, management, and fundraising.