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The BFD: eGenesis raises $38 million
eGenesis, a Cambridge, Mass.-based xenotransplantation startup, has raised $38 million in Series A funding. Biomatics Capital and ARCH Venture Partners co-led the round, and were joined by Khosla Ventures, Alta Partners, Alexandria Venture Investments, Heritage Provider Network, Berggruen Holdings North America, Uprising and Fan Ventures.
Why it's the BFD: Because "xenotransplantation" is a process by which you take the organs of one species (i.e. pigs) and putting them in another species (i.e. humans). Obviously this isn't just a cut-and-paste job, which is why eGenesis is using CRISPR gene editing tools to modify the pig organs. It's also worth noting that eGenesis isn't the only company working in this space, as I indirectly reported last year in a piece that began as an investigation into something else entirely.
Bottom line: "This pig may save your bacon." -- slogan on eGenesis t-shirts
Venture Capital Deals
Private Equity Deals
• Canada Goose, an outerwear maker and retailer owned by Bain Capital, raised C$340 million in its IPO. The company priced 20 million shares at C$17 per share (above C$14-C$16 range), and will trade on both the NYSE and Toronto Stock Exchange. CBIC Capital Markets was listed as left lead underwriter for Canada Goose, which reports $45 million of net income on $353 million in revenue for the last nine months of 2016. http://bloom.bg/2nm1Z5O
• Solaris Oilfield Infrastructure, a Houston-based provider of mobile proppant management systems, has filed for a $100 million IPO. It plans to trade on the NYSE under ticker symbol SOI, with Credit Suisse and Goldman Sachs serving as underwriters. The company reports $2.8 million of net income on $18 million in revenue for 2016. Shareholders include Yorktown Energy Partners. http://bit.ly/2fPeC6l
• Veritone, a Newport Beach, Calif.-based AI platform for analyzing audio and video data, has filed for a $15 million IPO. It plans to trade on the Nasdaq under ticker symbol VERI, with Wunderlich serving as lead underwriter. The company reports a $23 million net loss in 2016 on nearly $9 million in revenue. www.veritone.com
• American Media, owner of the National Enquirer, has agreed to pay around $100 million to acquire celebrity magazine US Weekly from Wenner Media. http://nyti.ms/2n1hrmY
• Campaign Monitor, a provider of email marketing and design solutions, has acquired Tagga, a Toronto-based customer data platform. No financial terms were disclosed. Campaign Monitor in 2014 raised $250 million from Insight Venture Partners. http://tcrn.ch/2mswumD
• Virtu Financial (Nasdaq: VIRT) reportedly has offered to acquire fellow high-frequency trading firm KCG Holding (NYSE: KCG) for more than $1.2 billion. http://on.wsj.com/2noyMHl
• Shawn McMenimen has joined Gen II Fund Services, a private equity fund administrator, as senior managing director. Her previously was with State Street. www.gen2fund.com
• TowerBrook Capital Partners has hired two new senior principals: Walter Weil (NYC, ex-GSO) and Ron van Loo (London, ex-AlixPartners). It also hired Jeroen Bischops as a principal (London, ex-Balyasny Asset Management). www.towerbrook.com