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  "documentTitle": "Ginkgo Bioworks (DNA)",
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  "authorName": "Scorpion Capital",
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  "presentationDate": "2021-10-06 00:00:00",
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  "notes": "The slide uses expert testimony to frame a potential related-party transaction and revenue recycling scheme.",
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      "text": "The individual stated that Tantu “doesn’t have money to pay” Ginkgo for R&D services, so “the deal ended up being like a deferred loan, essentially, for the work they are going to do.”",
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      "text": "Similar to Cambium, we suspected that Tantu is also an undisclosed related-party in which Ginkgo has or will make an investment which will be recycled back as “revenue.” We spoke with an individual closely involved with Tantu, who indicated that Tantu has raised $50k to date via a university grant – “just enough to get a website and stuff like that and incorporate.” The individual stated that Tantu “doesn’t have money to pay” Ginkgo for R&D services, so “the deal ended up being like a deferred loan, essentially, for the work they are going to do.” The individual did not disclose the amount of funding Ginkgo provided, but indicated it was similar in magnitude to a Series A round.",
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      "text": "I don't think that this necessarily applies to all their partnerships, but Tantu is a special case, especially because Tantu doesn't have money to pay them. The deal ended up being like a deferred loan, essentially, for the work they are going to do.",
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      "text": "Tantu has the tiniest bit of funding from a Northeastern accelerator fund, but not really enough to meet the technical goals of a therapeutics company, just enough to get a website and stuff like that and incorporate.",
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      "text": "“It's still very early stages. Tantu has the tiniest bit of funding from a Northeastern accelerator fund, but not really enough to meet the technical goals of a therapeutics company, just enough to get a website and stuff like that and incorporate. Apart from that, Tantu has some other momentum going in terms of winning a golden ticket for lab space at Lab Central in Kendall Square. There's an incubator space.” — Individual closely involved with Tantu",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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