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The markets are closed for Good Friday, so here's the Q1 report card:
• It gets worse: Abraaj Group plans to lay off around 15% of its 350-person team, according to Bloomberg. But no partners. Instead, the pink slips go to back office and junior staffers, because apparently they caused the problems.
• In the trees: Yesterday we discussed the VC mega-fundraising boom. A couple additional notes about Sequoia Capital, which is raising between $6 billion and $8 billion for its new global growth fund (which will focus almost exclusively on late-stage rounds for existing portfolio companies).
Walmart (NYSE: WMT) is in early talks to buy health insurer Humana (NYSE: HUM), according to the WSJ.
• Goop, Gwyneth Paltrow's lifestyle content and commerce company, has raised $50 million in Series C funding. Lightspeed Venture Partners and Fidelity were joined by return backers like NEA and Felix Capital. http://axios.link/hnkO
• BetterUp, a San Francisco-based leadership coaching platform, has raised $26 million in Series B funding. Lightspeed Venture Partners led, and was joined by return backers DFJ, Freestyle Capital and Crosslink Capital. http://axios.link/kfm9
• Electric AI, a New York-based provider of automated IT support for SMEs, raised $9.3 million in Series A funding. Bessemer Venture Partners led, and was joined by Bowery Capital and Primary Venture Partners. www.electric.ai
• Wondery, a Los Angeles-based podcast network, has raised $5 million in a Series A funding co-led by Greycroft, Lerer Hippeau and Advancit Capital. Other backers include BAM Ventures, Water Tower Ventures, Fox Networks Group and BDMI. http://axios.link/YrZD
• Cubigo, a Belgian provider of digitization solutions for senior living communities, has raised $4.5 million in Series A funding led by Urbain Vandeurzen. http://axios.link/rkiM
• Flipside Crypto, a Boston-based cryptocurrency investment service, has raised $3.4 million in first-round funding. True Ventures led, and was joined by The Chernin Group, Resolute Ventures, Boston Seed Capital, Converge and Founder Collective. http://axios.link/ZN6K
• American Securities has acquired Prince Erachem International, a manufacturer of mineral-based specialty additives, from Palladium Equity Partners. www.princeminerals.com
• Ankura, Washington, D.C.-based portfolio company of Madison Dearborn Partners, has agreed to acquire c3/consulting, a Nashville-based management consulting firm. http://axios.link/X2nG
• Ascensus, a portfolio company of Genstar Capital and Aquiline Capital Partners, has agreed to acquire Asperia, a Worcester, Mass.-based third-party administrator for defined contribution and defined benefits plans. www.ascensus.com
• Eco-Site, a Durham, N.C.-based wireless tower and infrastructure platform, has raised $30 million in funding from MSouth Equity Partners. It also secured a $60 million credit facility. http://axios.link/BXeO
• Investcorp has invested in ICR, a strategic communications and advisory firm with offices in the U.S. and China. www.icrinc.com
• PAI Partners has completed its previously-announced purchase of Albéa, a Luxembourg-based packaging company for the beauty and personal care sectors, from Sun Capital Partners. www.albea-group.com
• Platinum Equity has completed its $3.85 billion purchase of Husky Injection Molding Systems, a Canadian supplier of injection molding equipment to the plastics market, from Berkshire Partners and OMERS. www.husky.co
🚑 Unum Therapeutics, a Cambridge, Mass.-based developer of cancer immunotherapies, raised $69 million in its IPO. The company priced nearly 5.8 million shares at $12 (low end of $12-$14 range), and closed its first day of trading at $11 (Nasdaq: UNUM). Morgan Stanley was lead underwriter. Shareholders include Atlas Ventures (13.9% pre-IPO stake), F-Prime Capital Partners (9.9%) and New Leaf Venture Partners (5.3%). http://axios.link/LuOz
⚓Chinese regulators have given preliminary approval for a merger of the country’s two largest shipbuilders, China State Shipbuilding and China Shipbuilding Industry, according to Bloomberg. http://axios.link/MT70
• GKN (LSE: GKN) shareholders narrowly approved an $11 billion hostile takeover bid from Melrose Industries (LSE: MRO). http://axios.link/RSRg
• The New York Stock Exchange is in talks to buy the Chicago Stock Exchange, per the WSJ. http://axios.link/vUQr
• AngelPad, a San Francisco-based startup accelerator, has secured $35 million for a new $50 million-targeted VC fund, per an SEC filing. http://axios.link/Wl4u
• Lead Edge Capital, a New York-based growth equity firm, is raising its fourth fund, per an SEC filing.