DC readers: Join us tomorrow for a breakfast on the industry impact of 5G. Axios' Kim Hart will be joined by Sen. Cory Gardner, GroundTruth president Serge Matta and (for e-sports fans) EnVy Gaming owner and CEO Mike Rufail. RSVP here.
Get ready for more e-scooters on America's urban sidewalks, as we hear that GV (formerly known as Google Ventures) has agreed to lead a $250 million investment into Lime at a post-money valuation of at least $1 billion.
• Wisdom from Jeff Bezos, at Amazon's shareholders meeting: "We are a large corporation. We deserve to be inspected. It’s going to happen. Don’t take it personally. Because when you take it personally, you start to do things that are counterproductive.”
• Price talk: Vista Equity yesterday said that it has purchased a majority stake in Integral Ad Science, a VC-backed digital ad measurement firm that many had expected would IPO. No financial terms were disclosed, but multiple sources tell Axios that the deal valued IAS at around $850 million.
• Yes, I've been negligent in covering the Abraaj Capital situation. The latest is that a meeting yesterday with creditors resulted in a possible standstill agreement, and Cerberus reportedly bid $125 million for the private equity unit. Will discuss more tomorrow.
• Digging a bit deeper on yesterday's blockbuster Microsoft-GitHub deal:
British regulators this morning said that they will not block 21st Century Fox's pursuit of a majority stake in Sky UK, so long as it agrees to conditions that include a divestiture of Sky News.
• OutSystems, a Portugal-based low-code rapid application development company, raised $360 million at a valuation north of $1 billion from KKR and Goldman Sachs. Some of the proceeds provided partial liquidity to earlier investors like Guidepost Growth Equity. http://axios.link/hKxo
• Dataminr, a New York-based startup that analyzes public data about events in real time, has raised $221 million in new funding, according to an SEC filing. No word on investors, but we hear it's an outside lead. http://axios.link/qBQn
• CMR Surgical, a British developer of surgical robots, raised $100 million from Zhejiang Silk Road Fund and return backers Escala Capital Investments, LGT, Cambridge Innovation Capital and Watrium. http://axios.link/p7cp
• Coya, a Berlin-based insurance tech startup, raised $30 million from firms like Valar Ventures, eVentures and La Famiglia. http://axios.link/IuiY
• Cyberbit, an Israeli provider of cyber range training and simulation platforms,, raised $30 million from Claridge Israel. http://axios.link/4D54
👡 Tamara Mellon, a direct-to-consumer women’s luxury footwear brand, raised $24 million in Series B funding co-led by Quadrille Capital and return backer NEA.
• EV Hive, an Indonesian co-working space operator, raised $20 million in Series A funding co-led by Softbank Ventures Korea, H&CK Partners and Tigris Investment. http://axios.link/aVyG
• Raken, a San Diego-based daily reporting app and field management solution for the construction industry, raised $10 million in Series A funding. USVP led, and was joined by Tao Capital Partners and return backers Eniac Ventures, Rincon Venture Partners and Spider Capital. www.rakenapp.com
🚑 Parachute Health, a New York-based e-prescribing platform, raised $9.5 million in VC funding. Insight Venture Partners led and was joined by the Greater New York Hospital Association. www.parachutehealth.com
🚑 Genetesis, a Mason, Ohio-based biomagnetic imaging startup focused on chest pain triage, raised $7.5 million in Series A funding. CincyTech led, and was joined by Mark Cuban, Ohio Innovation Fund and Raptor Group. www.genetesis.com
• Mews, a UK-based hotel property management platform, raised €6 million in Series A funding. Notion Capital led, and was joined by HenQ and Thayer Ventures. http://axios.link/L8pX
• Exoticca, a Spain-based “affordable luxury” online travel agency, raised €3.5 million in Series A funding led by K Fund. http://axios.link/Pv8R
• Motorway, a UK-based platform for selling used cars, raised £2.75 million in seed funding co-led by LocalGlobe and Marchmont Ventures. http://axios.link/rCeK
• SensorUp, a Calgary-based IoT geolocation startup, raised C$2 million in seed funding led by Vanedge Capital. www.sensorup.com
• Accruent, an Austin, Texas-based portfolio company of Genstar Capital, has acquired EMS Software, a Centennial, Colo.-based workplace and campus management platform, from JMI Equity. http://axios.link/FOdV
• Advent International has acquired an 80% stake in Walmart’s (NYSE: WMT) Brazil business. No financial terms were disclosed, but Walmart said it would take a related charge of $4.5 billion. http://axios.link/efDF
• Arsenal Capital Partners has acquired Adhesives Technology Corp., a Pompano Beach, Fla.-based manufacturer of specialty adhesives for the infrastructure and construction industries. www.atc.ws
• Branford Castle has acquired Drew Foam Cos., a Monticello, Ark.-based provider of custom-fabricated expanded polystyrene foam products. www.drewfoam.com
🚑 Cranemere has agreed to acquire a majority stake in NorthStar Anesthesia, an Irving, Texas-based anesthesia care provider, from TPG Growth (which will retain a minority stake). www.cranemere.com
• Frontier Capital has acquired a majority stake in MediaPro, a Bothell, Wash.-based provider of security, privacy, and compliance awareness training SaaS. www.mediapro.com
• Paysafe Group, a British portfolio company of Blackstone and CVC, has acquired iPayment, a New York-based provider of payment and processing solutions for SMEs. www.ipaymentinc.com
🚢 Trident Maritime Systems, a portfolio company of J.F. Lehman, has acquired Newsystem, an Italian provider of outfitting systems for the cruise ship new construction market. www.tridentllc.com
• New Frontier Corp., a Hong Kong-based SPAC led by Antony Leung (co-founder of Nan Fung Group, ex-Blackstone), filed for a $200 million IPO. It plans to trade on the NYSE. http://axios.link/FXL3
🚑 Tricida, a South San Francisco-based based developer of non-absorbed oral drug therapies, filed for a $150 million IPO. It plans to trade on the Nasdaq (TCDA) with Goldman Sachs as lead underwriter. The pre-revenue company raised over $250 million in VC funding, from OrbiMed (36.9% pre-IPO stake), Sibling Capital (23.4%), Longitude Capital (10.1%), Wellington Management (7.5%), Limulus Venture Partners (5.8%), Venrock, Cormorant Asset Management and Vivo Capital. http://axios.link/VZwt
• U.S. Xpress Enterprises, a Chattanooga, Tenn.-based trucking company, set IPO terms to 18.1 million shares at $18-$20. It would have a fully diluted market value of $947, were it to price in the middle. The company plans to trade on the NYSE (USX) with BofA Merrill Lynch as lead underwriter. http://axios.link/3Mud
🚑 Verrica Pharmaceuticals, a West Chester, Penn.-based developer of treatments for warts and other viral skin diseases, set its IPO terms to 5 million shares at $14-$16. It would have an initial market cap of $374 million, were it to price in the middle. The pre-revenue company plans to trade on the Nasdaq (VRCA), with BoA Merrill Lynch as lead underwriter. Shareholders include PBM Capital Group (58.4% pre-IPO stake), Perceptive Advisors (12.1%) and OrbiMed (6.4%). http://axios.link/F9rm
• Roper Technologies (NYSE: ROP) completed its purchase of PowerPlan, an Atlanta-based provider of corporate performance management software, from Thoma Bravo for $1.1 billion. http://axios.link/hMrY
• The British government sold a 7.7% stake in Royal Bank of Scotland (LSE: RBS) for around $3.3 billion, one decade after bailing out the UK lender. http://axios.link/DglG
⛽ ConocoPhillips (NYSE: COP) is seeking to sell its 16.93% stake in Canadian oil and gas producer Cenovus Energy (TSX: CVT), per Reuters. The position has a current market value of around C$2.6 billion. http://axios.link/M2Ts
⛽ Enel of Italy formally agreed to buy Brazil’s largest electricity distributor, Eletropaulo, for $1.48 billion. http://axios.link/2uU9
• Kuaishou, a Chinese live-video streaming company backed by Tencent and Sequoia Capital China, has acquired rival AcFun. http://axios.link/kaeG
🚑 Philips (Amsterdam: PHG) has agreed to buy EPD Solutions, a Dutch maker of cardiac imaging and navigation systems, for up to €460 million in cash (€250m upfront). http://axios.link/cLfT
• Rue La La, a subsidiary of SoftBank-backed Kynetic, has acquired flash sale site Gilt Group from Hudson's Bay (TSX: HBC). No financial terms were disclosed, but a source tells Axios the price was well below the $250 million Hudson's Bay paid to buy Gilt in early 2016.
• Toshiba (Tokyo: 6502) has agreed to sell its PC business to Sharp Corp. (Tokyo: 6752) for $36 million. http://axios.link/j9K3
• Grab, the Singapore-based ride-hail company, has launched a VC unit focused on Southeast Asia startups http://axios.link/NKe5
• Hamilton Lane raised $900 million for its fourth private credit fund.
• JLL, a commercial real estate brokerage, has launched a $100 million global VC fund focused on real estate tech startups. http://axios.link/2uDA
• Stride.vc, a London-based VC firm led by Fred Destin (ex-Accel) and Harry Stebbings (20 Minute VC podcast), reportedly has closed on £40 million of its £50 million-targeted debut fund. http://axios.link/9fej
• Steve Fradin (ex-vice chair of Pershing Square Capital Management) has joined law firm Cadwalader, Wickersham & Taft as a New York-based partner. www.cwt.com
• David Horowitz has joined Pine Island Capital Partners as a managing director. He previously was with Macquarie Capital.
• Shahira Knight is stepping down as the White House's deputy director of the National Economic Council to join bank lobbying group Clearing House. http://axios.link/CDCy
• Martin Mackay (co-founder of RallyBio) has joined New Leaf Venture Partners as a senior advisor. www.nlvpartners.com
• The SEC said that Valerie Szczepanik will assume a new position overseeing digital currency issues. She previously worked on cyber-crime coverage. http://axios.link/GKPt
Frank Carlucci, the former U.S. defense secretary and national security advisor who later served as chairman of The Carlyle Group, passed away at the age of 87. Per a statement from Carlyle's founders:
Just as he served America with passion and distinction for decades, Frank’s private sector career was remarkable as well. As Vice Chairman and then Chairman of Carlyle from 1989-2003, Frank was instrumental in transforming our boutique investment firm into a respected global institution... The blessings of his friendship and partnership will forever be a part of our hearts and firm.