🏖️ I'm on vacation next week, so Kia Kokalitcheva will be your Pro Rata sherpa. Please send her news, tips, and poetry: firstname.lastname@example.org or @imkialikethecar.
lllustration: Eniola Odetunde/Axios
Clearing out the notebook before vacation...
• Disingenuous: Marcelo Claure, a SoftBank executive who's currently doubling as WeWork's executive chairman, told CNBC on Tuesday that people misunderstand ousted CEO Adam Neumann's exit package: "To say that he has walked away with over a billion dollars is totally false."
• Still no deal: Yesterday's BFD was about how Thoma Bravo failed to get shareholder approval for its $2 billion buyout of education company Instructure. Minutes after publication, it was disclosed that Thoma Bravo raised its offer from $47.60 per share to $48.50 per share.
• Fixing it: On Monday we discussed how Snoop Dogg had made sexist and threatening remarks toward a female reporter, and wondered what (if anything) it would mean for his budding venture capital career.
• Fee-rful: Harry's executives are said to still be debating their legal and strategic options, after Edgewell bailed on its $1.4 billion takeover of the company due to FTC opposition.
• DC-to-SV: The Department of Justice held a workshop earlier this week at Stanford's law school, on the topic of how big tech M&A stifles startups. But many of the VC attendees argued that the fears are overblown, saying instead that regulatory overreach is of greater concern. Go deeper.
🎧 Pro Rata Podcast digs into how two cities eliminated pedestrian and cyclist deaths (hint: it doesn't have to do with new tech). Listen here.
Photo Illustration: Sarah Grillo/Axios. Photo: Jörg Carstensen/picture alliance via Getty Images
Tesla Motors (Nasdaq: TSLA) raised $2.03 billion in a secondary stock offering, pricing at $767 per share. That's a 4.6% discount to yesterday's closing price, and an 86.2% premium to where CEO Elon Musk infamously tweeted that he had "funding secured."
• Flywire, a Boston-based vertical payments company, raised $120 million in Series E funding. Goldman Sachs led, and was joined by Tiger Global Management and Adage Capital Management. Flywire also acquired Simplee, a Palo Alto-based patient engagement platform that had raised around $60 million from firms like Social Capital, Heritage Group, American Express, and 83North. http://axios.link/zYua
🚑 Nyxoah, a Belgian developer of treatments for sleep-disordered breathing conditions, raised €25 million from firms like ResMed (NYSE:RMD). http://axios.link/Bcoe
• GumGum, a Santa Monica, Calif.-based computer vision and natural language processing company, raised $22 million in Series B funding from return backers Morgan Stanley Expansion Capital, NEA spinout NewView Capital, and Upfront Ventures. www.gumgum.com
• Bravo Sierra, a New York-based developer of performance consumer products for both military and civilian use, raised $12 million in Series A funding. Global Founders Capital led, and was joined by Mousse Partners, Canaan Partners, Redo Ventures, Grace Beauty Capital, and Lapa Capital. http://axios.link/M7ju
• AdQuick, a Los Angeles-based out-of-home ad software startup, raised $6 million in Series A funding. Initialized Capital led, and was joined by WndrCo, Shrug Capital, The Todd & Rahul Angel Fund, and MediaLink CEO Michael Kassen. http://axios.link/g9SN
• MotoRefi, an Arlington, Va.-based auto refinance platform, raised $8.6 million in Series A funding. Accomplice and Link Ventures co-led, and were joined by Motley Fool Ventures, CMFG Ventures (part of CUNA Mutual Group), and Gaingels. www.motorefi.com
• Simsim, an Indian social commerce startup, raised $8 million in Series B funding from Accel, Shunwei Capital, and Good Capital. http://axios.link/Qyeo
• Esper.io, a Bellevue, Wash,-based dev-ops platform for edge Android devices, raised $7.6 million in Series A funding. Madrona Venture Group led, and was joined by Root Ventures, Ubiquity Ventures, Haystack Ventures, and Pathbreaker Ventures. www.esper.io
• Clover, an Indian ag platform that markets greenhouse-grown produce to B2B and B2C channels, raised $5.5 million in Series A funding from Accel, Mayfield, and Omnivore. http://axios.link/COLU
• Elliptic, a London-based provider of crypto-asset risk management solutions, raised $5 million in new Series B funding from Wells Fargo Strategic Capital. The round total is now $28 million. www.elliptic.co
• Lover, a San Francisco-based sexual wellness app, raised $5 million in seed funding. Lerer Hippeau led, and was joined by Manta Ray Ventures, Global Founders Capital, and individuals like Sean Rad.
• Talage, a Reno, Nev.-based digital insurance SaaS startup, raised $5 million in Series A funding led by Merus Capital. www.talageins.com
• Open Raven, a Los Angeles-based enterprise data security platform, raised $4.1 million led by Upfront Ventures. www.openraven.com
• Tametem, a mobile game publisher for the Arabic-speaking market, raised $3.5 million in new Series A funding. Return backer Wamda Capital led, and was joined by AlFaisaliah Group and North Base Media. http://axios.link/u7iR
Editor's note: the AdQuick news has been corrected with the accurate amount and to show that MediaLink's CEO personally invested.
• The Blackstone Group is in talks to buy listed Dutch bank NIBC Holding for €1.44 billion. http://axios.link/KU2A
• TA Associates acquired and will merge Auction Technology Group, a London-based online auction platform that had been owned by ECI Partners, and Proxibid, an Omaha, Neb.-based online marketplace for connecting buyers and sellers that had been owned by Primus Capital. www.auctiontechnologygroup.com
🚑 Avadim Health, an Ashville, N.C.-based life sciences company focused on immune health and neuromuscular care that’s raised over $140 million in VC funding, postponed an IPO that planned to offer 5 million shares at $14-$16. http://axios.link/SQl6
• Neiman Marcus hired Morgan Stanley to lead an IPO for online luxury fashion unit MyTheresa, which could come by April on the NYSE, per Reuters. http://axios.link/JOWh
🚑 Revolution Medicines, a Redwood City, Calif.-based cancer drug developer, raised $238 million in its IPO. It priced at $17 per share (top of upwardly-revised range), for a market cap of $967 million. The company will trade on the Nasdaq (RVMD), used JPMorgan as lead underwriter, and counts shareholders like Third Rock Ventures (28.8% pre-IPO stake), Column Group (18.6%), and Sanofi (7.8%). http://axios.link/i6gM
• TFI International (TSX: TFII), a Montreal-based transportation and logistics company, raised $200 million in its U.S. float. The company priced at $33.35 per share, the equivalent of its last closing price on the Toronto Stock Exchange, with Morgan Stanley as lead underwriter. www.tfiintl.com
• CVC Capital Partners is exploring a sale or IPO for Douglas, a German perfume and cosmetics retailer that generated €351 million in adjusted EBITDA last year, per Reuters. http://axios.link/CaDf
• Providence Equity Partners hired Goldman Sachs to find a buyer for Galileo Global Education, a London-based private secondary school operator that could fetch €2.5 billion, per Reuters. http://axios.link/jVLj
• Honeywell (NYSE: HON) is considering a sale of its personal protective equipment unit, which could fetch upwards of $2 billion, per Bloomberg. http://axios.link/BId9
• Centerbridge Partners is targeting $5 billion for its fourth private credit fund, per Reuters. http://axios.link/7NB1
• LDV Capital, a New York-based VC firm focused on visual tech startups, is raising $30 million for its second fund, per an SEC filing. www.ldv.co
• Odyssey Investment Partners raised $3.25 billion for its sixth middle-market buyout fund. www.odysseyinvestment.com
• Riot Ventures, a Los Angeles-based “deep-tech” VC firm, is raising $75 million for its second fund, per TechCrunch. http://axios.link/6qpE
• Carl Allegretti joined Arbor Investments as president, with firm co-founder Joseph Campolo becoming vice chairman and senior advisor. Allegretti previously led Deloitte’s Chicago office. www.arborpic.com
• Erin McCafferty stepped down as a partner with The Yard Ventures. No word yet on her future plans.
• Brittany Skoda joined Morgan Stanley as global co-head of software investment banking, alongside recently-promoted Melissa Knox. Skoda previously led Workday Ventures. Morgan Stanley also promoted David Chen to head of West Coast tech investment banking. http://axios.link/u57Q
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