Monday greetings from Orlando, where E is off pretending to be Hermione. A quick invite for Chicago readers: Axios tomorrow afternoon will be hosting a live event about new cures and new innovations in mental healthcare, featuring Mike Allen interviews with former WNBA star and mental health advocate Chamique Holdsclaw, Facebook head of global safety policy Antigone Davis, Fisher Wallace co-founder and CMO Kelly Roman and Takeda North America lead Ramona Sequeira. Please RSVP here.
Top of the Morning
Walmart is in talks to acquire Bonobos, a New York-based men's clothing retailer, according to Recode. Bonobos has raised pver $120 million in VC funding, from firms like Felicis Ventures, Accel, Forerunner Ventures, Lightspeed Venture Partners and Nordstrom.
- Why it matters: This probably won't be a huge purchase by Walmart standards, but continues to show that Walmart's $3 billion purchase of new e-commerce boss Marc Lore (I mean, of Jet.com) is the VC-backed market's most consequential acqui-hire to date. It also is further indication that Lore finally has the freedom ― both financially and strategically ― to attempt what he won't admit publicly wanting so very, very much: Take a massive chunk out of Amazon's core business.
- Bottom line: "On the surface, the Walmart and Bonobos brands make little sense together. But Lore has been trying to buy digital-native companies with strong brands that appeal to a different demographic than Walmart does, and ones that have the potential to be healthy standalone businesses with Walmart's backing." ― Jason Del Rey
Venture Capital Deals
Private Equity Deals
There is only one IPO on the U.S. calendar this week: Select Energy Services, a Texas-based provider of water services for hydraulic fracturing. It's backed by Crestview Partners and plans to raise around $175 million.
• G20 Ventures is raising $63.5 million for its second fund, per an SEC filing. www.g20vc.com
• Curtis MacDonald, a former partner with German venture firm High-Tech Grunderfonds, has launched a San Francisco-based firm called Happiness Ventures, per his LinkedIn profile.
• The Riverside Company has closed its first non-control private equity fund, called the Riverside Strategic Capital Fund, with $418 million in capital commitments. www.riversidecompany.com