Headquartered in New Mexico, Investing in the Southwest.

We are a highly experienced, nationally and internationally connected team that understands the challenges of seed and early stage investment in out of the way places where opportunities abound.


Armonica Tech

Armonica is developing continuous, direct read DNA sequencing for robust analysis of genomic variants and epigenetic changes. By eliminating the requirement for extensive library preparation, Armonica will deliver significant cost savings in time and supply costs in addition to providing data for diagnostic and pharmaceutical applications that are not possible with today’s sequencing technology.  


BennuBio’s VeloCytÒ is an acoustic flow cytometer that can analyze up to 1 million cells per second at a low coincidence rate, increasing processing capacity up to 100 fold and expanding flow cytometry into analysis of rare events in a high particle background. With full sample recovery and the capabilities of analyzing larger particles, like tumor spheroids, the VeloCytÒ offers a major step forward for the research and laboratory.

The scientists and engineers at BennuBio trace their professional roots to the National Flow Cytometry Resource at the Los Alamos National Laboratory, a center for the development of advanced flow cytometry resources for decades.

WaveFront Dynamics

WaveDyn is an early stage medical device company developing proprietary methods to measure changes of the eye dynamically, over a sequence in time, rather than a single snapshot. The company will leverage its dynamic wavefront measurement capabilities to create ophthalmic treatment solutions for patients with complex visual dysfunction.


Tramway Venture Partners is an early stage venture fund investing in biotech, medtech, and healthtech. Typically, we will invest in the first institutional round after incubators and angel investors. The best fit with our strategy is a company led by an outstanding management team, that has a significant intellectual property position, a clear go to market strategy, and a large addressable market. We will focus on opportunities that are expected to require less than a total of $30M to exit.

Why New Mexico

New Mexico is attractive for investment because of the intensive Federal R&D investment, its emerging entrepreneurial culture and low cost. It is an “out of the way” place that is attractive, in part, precisely because it is out of the way.

Home to Los Alamos National Laboratory, Sandia National Laboratories, the US Air Force Research Laboratory and White Sands Missile Range, federal investment in research and development in New Mexico amounted to more than $3.8 Billion in 2014. The State’s three research universities: The University of New Mexico (a Carnegie classification R1 university) with its School of Medicine designated as a Comprehensive Cancer Care Center by the National Cancer Institute, New Mexico State University and New Mexico Tech operate relevant research programs with aggregate funding of over $300 Million per year.

It is this setting that creates the investment opportunity for the Tramway Venture Partners.


Waneta Tuttle

Fund Manager

Waneta’s interests and career are focused at the intersection between technology and health care. An entrepreneur and experienced executive, she brings Tramway an innovative spirit, grounded in practical understanding of health care. She holds a PhD and an MBA, has started six companies and has Board of Director experience in companies covering a wide range from start-ups to a publicly traded pharmaceutical company to one of the nation’s largest health insurers.

John Rockwell

Venture Partner

John complements the Tramway team with his experience and connectivity in physics and engineering. These are disciplines that are key to many of the “convergent” technologies that Tramway Venture Partners sees in New Mexico. As an officer in the US Air Force, John worked in R&D on large laser systems, landing gear and cryogenic coolers. After leaving the Air Force, he was an executive with Chromex, a leading manufacturer of Raman spectrometers. Today he owns and operates Marpac, a medical device manufacturer and Sierra Peaks, an engineering firm. An enthusiastic, innovative thinker, John is a community leader, serving on the New Mexico Workforce Development Board and the Board of the Manufacturing Extension Partnership.

Stu Rose

Venture Partner

Certainly a candidate for “Mr. BioScience” in New Mexico, Stu brings the Tramway team extensive business and investment experience and an extensive network within the State and beyond. Dr. Rose is an entrepreneur at heart, having started more than ten companies, and is an important part of Tramway’s deal sourcing. He founded The BioScience Center in Albuquerque and FatPipe ABQ, a co-working space. His PhD is in chemistry and he is nationally and internationally known as an expert pharmaceutical manufacturing.

Brad Vale

Venture Partner

Although he is the only member of the Tramway team who does not live in New Mexico, Brad has been involved in New Mexico technology company investment for several decades, leading the Johnson & Johnson Development Corporation’s (JJDC) Series A investment in Indigo Medical (1989). Indigo was subsequently acquired by J&J’s Ethicon Endosurgery. At his retirement in 2015, Brad was Head of JJDC which made investments of over $200M annually in the life sciences. He is Managing Partner of Strategic Healthcare Investment Partners, a venture fund organized around investment interests of large corporate venture groups.