Greetings from the home office, where it's good to be back after a day in D.C. for meetings at Axios HQ. Please invite your friends and colleagues to sign up at GetProRata.axios.com. Okay, here we go...
One banker's hedge is another banker's hate, as we've seen twice over the past month.
• D.C. to VC: Former FDA Commissioner Scott Gottlieb has rejoined venture firm NEA as a full-time investing partner, as Axios first scooped yesterday. He'll also be my guest later today on the Pro Rata Podcast, discussing e-cigarettes.
• On demand: DoorDash's upcoming Series G round could net upwards of $1 billion in new capital, per a stock authorization filing in Delaware (sent to us by Prime Unicorn Index).
• It's taxing: Treasury Sec. Steve Mnuchin yesterday told the House Financial Services Committee that his Department has no plans to do anything in regards to the tax treatment of carried interest, just days after President Trump reiterated his interest in a change.
🎧 Pro Rata Podcast digs into the mobile mega-merger mess, as DoJ weighs the wisdom of T-Mobile US buying Sprint. My guest is Axios' Kim Hart. Listen here.
NASCAR Holdings agreed to buy racetrack owner and operator International Speedway Corp. (Nasdaq: ISCA) for around $2 billion in cash, or $45 per share.
• Solugen, a Houston-based producer of bio-based peroxide solutions, raised $32 million in Series B funding. Founders Fund led, and was joined by YC, Refactor Capital, Fifty Years and KdT Ventures. www.solugentech.com
• Instawork, San Francisco-based on-demand staffing app for gig and hospitality workers, raised $18 million. Spark Capital, GV, and Burst Capital were joined by return backers Benchmark, YC, Tuesday Capital and SV Angel. http://axios.link/sFY4
• Quentic, a Berlin-based provider of EHS and corporate social responsibility SaaS, raised €15 million from return backers One Peak Partners and Morgan Stanley Expansion Capital. http://axios.link/MAtY
• Wild Earth, a Berkeley, Calif.-based pet food startup, raised $11 million in Series A funding. VegInvest led, and was joined by Radical Investments, Felicis Ventures, Founders Fund, Mars Petcare, Bits x Bites, VECTR and P.O.V. http://axios.link/IR5u
• Future, a San Francisco-based personalized fitness coaching program, raised $8.5 million in Series A funding led by Kleiner Perkins. www.future.fit
🚑 Mightier, a Boston-based developer of bioresponsive video games to help kids learn emotional regulation, raised $6.6 million in Series A funding. Foxkiser led, and was joined by Asset Management Ventures, FundRx and return backers Founder Collective, Slow Ventures and Project 11. www.mightier.com
• Hunters.ai, an Israeli “autonomous threat hunting” startup, raised $5.4 million in seed funding co-led by YL Ventures and Blumberg Capital. www.hunters.ai
• Dawex, a Paris-based data marketplace, raised €5 milllion from Amadeus, Itochu, Bouygues Construction and Caisse des Dépôts. http://axios.link/5Bdw
• BeautyStack, a London-based booking app for independent beauty professionals, raised £4 million in seed funding led by Index Ventures. http://axios.link/wnIH
• Tracklib, a Swedish music sampling startup, raised $1.7 million in seed funding from Sony Innovation Fund and WndrCo. www.tracklib.com
• Bain Capital agreed to acquire a 27% stake in the U.S. business of listed South Korean food company CJ CheilJedang for $320 million. http://axios.link/lnF9
• Cove Hill Partners acquired a majority stake in LiveAuctioneers, a New York-based provider of live online auctions for fine and decorative art. http://axios.link/0u6c
• Cvent, a McLean, Va.-based portfolio company of Vista Equity Partners, acquired Wedding Spot, a San Francisco-based wedding venue sourcing platform. The seller was Honeybook, which is backed by firms like Aleph, Citi Ventures and Norwest Venture Partners. http://axios.link/8CLO
• Investcorp agreed to buy New York-based fund placement and advisory firm Mercury Capital Advisors.
🦕 L2 Capital Partners acquired Jurassic Quest, a producer of interactive dinosaur events. http://axios.link/cKTL
🚑 Bicycle Therapeutics, a British developer of cancer therapeutics based on bicyclic peptides, raised $61 million in its IPO. The company priced 4.3 million shares at $14 (low end of range), and will trade on the Nasdaq (BCYC) with Goldman Sachs as lead underwriter. It had raised around $93 million from firms like Tybourne Capital, Vertex Ventures, Cambridge Innovation Capital, Longwood Fund, Novartis, SR One, SVLS and Atlas Venture. http://axios.link/LRD2
• Meten, a provider of English language education in China, filed for a $100 million IPO. It reports $7.7 million of net income on $212 million for revenue in 2018, and plans to trade on the NYSE (MEDU) with Citi as lead underwriter. http://axios.link/fItj
⛽ Rattler Midstream, a Midland, Texas-based midstream infrastructure company spun out by Diamondback Energy (Nasdaq: FANG), raised $665 million in the largest energy IPO of 2019. The company priced 38 million units at $17.50 (within $16-$19 range), and will trade on the Nasdaq (RTLR) with Credit Suisse as lead underwriter. http://axios.link/sJK5
⛽ BP (LSE: BP) is nearing a sale of its stake in Egyptian oil and gas company GUPCO to Dubai-based Dragon Oil for over $600 million, per Reuters. http://axios.link/bb9V
• LondonMetric Property (LSE: LMP), a British warehouse operator, agreed to buy commercial and industrial REIT A & J Mucklow (LSE: MKLW) for around £415 million. http://axios.link/u0OG
• SCOR (Paris: SCR), a French reinsurer, agreed to buy Coriolis Capital, an asset manager specializing in natural disaster bonds, options, collateralized reinsurance and climate derivatives. http://axios.link/TLkM
• Zendesk (NYSE: ZEN) acquired Smooch, a Montreal-based conversational messaging platform. http://axios.link/L7c8
• Fika Ventures, a Los Angeles-based seed firm, raised $76 million for its second fund. http://axios.link/cBy6
🚑 Fountain Healthcare Partners, a healthcare-focused VC firm with offices in Dublin and New York, raised €118 million for its third fund. www.fh-partners.com
• Granite Creek Capital Partners of Chicago raised $200 million for its second lower middle-market private equity fund. http://axios.link/vuQu
• Tracy Harris is joining private equity firm Siris as a partner focused on IR and product strategy. She previously was a partner with StepStone Group. www.siris.com
• Joseph Lombardo has joined mid-market “GP stakes” firm Stonyrock Partners as a managing director, per PE International. He previously was with AlpInvest, which also is the former firm of Stonyrock founder Sean Gallary.
• Ross Mason, founder of MuleSoft, is joining venture firm SignalFire as a venture partner. http://axios.link/1AFh
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