Covenant Venture Capital Completes Strategic Investment in Hill Research in Partnership with NJEDA

Reid McCrabb
Reid McCrabb

Reid McCrabb is a venture fellow at Covenant Venture Capital, where he brings a unique perspective on decentralized finance and blockchain scaling. With a background in blockchain technology and experience as a journalist, Reid has gained a deep understanding of the latest trends and innovations in the industry. During the summer, Reid covered the Ethereum Community Conference, where he had the opportunity to interview multiple industry founders and gain insights into the latest developments in blockchain technology. His work as a journalist has helped him develop a keen ability to identify emerging trends and promising startups in the blockchain space. As a senior at Ohio State University, Reid is also actively involved in the Buckeye Blockchain Club, where he serves as treasurer. His experience in finance and his passion for blockchain technology have enabled him to make meaningful contributions to the club, including organizing events and connecting with industry leaders. Overall, Reid’s deep understanding of blockchain technology, his experience as a journalist, and his commitment to advancing the industry make him a valuable asset to Covenant Venture Capital and the broader blockchain community.

2 April 2026

Covenant Venture Capital (5)-2Covenant Venture Capital is pleased to announce the completion of a strategic investment in Hill Research, an emerging artificial intelligence company advancing innovation within the AI ecosystem. The transaction was completed in partnership with the New Jersey Economic Development Authority (NJEDA), reflecting a shared commitment to supporting transformative technology companies.

Hill Research operates at the intersection of advanced data systems and artificial intelligence development, contributing to the broader infrastructure that powers next-generation AI applications. As artificial intelligence continues to reshape industries, Covenant remains focused on identifying and supporting companies building the foundational layers of this evolving economy.

René Bastón, Venture Partner and Program Manager at Covenant Venture Capital, led the investment.

Louise Rui, Founder & CEO of Hill Research, said:

“We’re thrilled to partner with Covenant Venture Capital. René’s digital health expertise and operator mindset will help us expand our AI-enabled offerings while maintaining the scientific rigor our sponsors count on. With Covenant Venture Capital VC and NJEDA’s Evergreen program behind us, we’re positioned to continue to scale our platform, grow our biometrics and FSP capabilities, and deliver even greater impact for patients and the industry.”

This investment aligns with Covenant’s broader thesis centered on long-term value creation within the AI-driven economic shift. Rather than pursuing speculative exposure, Covenant prioritizes disciplined capital deployment into companies positioned to benefit from structural technology adoption and sustained enterprise demand.

The partnership with NJEDA further underscores the institutional alignment behind this transaction. Public-private collaboration plays an important role in accelerating innovation, supporting regional growth, and strengthening the infrastructure necessary for responsible AI advancement.

Covenant Venture Capital continues to evaluate opportunities within artificial intelligence and related sectors where innovation, scalability, and strategic positioning intersect.

For more information about Covenant’s investment strategy and portfolio, please visit www.covenantventurecapital.com.

 

About Covenant Venture Capital
Covenant Venture Capital backs Deep Tech and digital health companies operating at the intersection of breakthrough technology and commercialization. As a New Jersey Qualified Venture Fund, Covenant partners with founders building durable infrastructure businesses aligned with the long term evolution of the AI driven economy.

About Hill Research
Hill Research integrates agentic AI with full stack biometrics to support clinical development from trial design through regulatory submission. Its platform automates regulated workflows while maintaining submission grade precision for sponsors operating in highly compliance driven environments.

About the New Jersey Economic Development Authority (NJEDA)
The New Jersey Economic Development Authority supports innovation-led growth through targeted programs, capital access initiatives, and public private partnerships designed to strengthen the state’s technology ecosystem.

Contacts

 

For Covenant Venture Capital

tdouglas@covenantvc.com | rene.baston@covenant-invest.com

For Hill Research

zoey.dong@hillresearch.ai

For NJEDA Evergreen Innovation Fund

Alexander.Pachman@njeda.gov

 

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