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President Trump and Sen. Tim Scott (R-SC), at an event about Opportunity Zones. Photo by Alex Wong/Getty Images.
President Trump today is expected to sign an executive order related to opportunity zones, a part of last year's tax bill designed to increase investment and economic development in underserved communities.
• Verizon has finally figured out that it way overpaid for Yahoo and AOL, perhaps after going back and reading all the contemporaneous media analysis and armchair tweets.
• Uber has picked Morgan Stanley to lead its IPO, per Bloomberg.
• We've now had more than 1 million downloads of the Pro Rata podcast, on topics ranging from Facebook's emails to New York's Amazon HQ2 deal to firearms investments to a silver lining for social media. Each just 10 minutes, to get you smarter, faster on the collision of business, tech and politics.
Dell Technologies yesterday received shareholder approval for its $23.9 billion reverse merger with the tracking stock for VMWare, paving the way for Dell's return to the public markets on December 28.
• PT Tokopedia, an Indonesian generalist e-commerce site, raised $1.1 billion co-led by SoftBank Vision Fund and Alibaba Group at a reported valuation north of $7 billion. http://axios.link/P6Wm
• InVision, a design collaboration startup, raised $115 million in Series F funding at a $1.9 billion valuation. Spark Capital led, and was joined by Goldman Sachs, Atlassian and return backers Battery Ventures, Iconiq Capital, Tiger Global Management, FirstMark and Geodesic Capital. http://axios.link/8e5B
☕ Luckin, a Chinese coffee shop chain, raised $200 million in Series B funding at a $2.2 billion valuation from return backers GIC, China International Capital Corp., Joy Capital and Dazheng Capital. http://axios.link/IgqP
• Bowery, a New York-based indoor farming startup, raised $90 million in Series B funding led by existing backer GV. www.boweryfarming.com
• Nexthink, a Swiss analytics platform for end-user IT performance, raised $85 million. Index Ventures led, and was joined by Highland Europe, Forestay Capital, Galéo Capital and TOP Funds and Olivier Pomel. http://axios.link/YVdR
• AtScale, a San Mateo, Caif.-based data warehouse visualization platform, raised $50 million in Series D funding. Morgan Stanley led, and was joined by return backers Storm Ventures, Wells Fargo and Atlantic Bridge. www.atscale.com
• Optibus, an Israeli provider of public transportation scheduling and operations SaaS, raised $40 million in Series B funding. Insight Venture Partners led, and was joined by Alibaba. www.obtibus.co
• NinjaCart, an India-based fresh produce marketing and delivery platform, raised $35 million in Series B funding co-led by Accel and Syngenta. http://axios.link/k6xE
• Robotiq, a Quebec City-based maker of tools for the collaborative robotics market, raised C$31 million from Battery Ventures. www.robotiq.com
• LogDNA, a Mountain View-based startup that wants to simplify server data logging, raised $25 million in Series B funding. Emergence Capital led, and was joined by Initialized Capital. http://axios.link/iVo5
• Happiest Baby, a Santa Monica, Calif.-based provider of noise machines and other baby products, raised $23 million in Series B funding. Greycroft led, and was joined by Sallfort Bank and GV. www.happiestbaby.com
Black Diamond Therapeutics, a cancer biotech focused on allosteric mutant oncogenes, raised $20 million from Versant Ventures. http://axios.link/w0jO
• 4iQ, a Los Altos, Calif.-based provider of identity attribution analytics, raised $18 million in Series B funding. C5 Capital led, and was joined by ForgePoint Capital, Adara Ventures and Benhamou Global Ventures. www.4iq.com
🚑 Spring Discovery, a Palo Alto-based drug discovery startup focused on aging, raised $18 million in Series A funding. First Round Capital and General Catalyst co-led, and were joined by Zhen Fund, Susa Ventures, Village Global, SciFi and return backers Longevity Fund, Felicis Ventures and Caffeinated Capital. http://axios.link/sDw8
• TechSee, an Israeli provider of video-enabled tech support, raised $16 million in Series B funding led by Scale Venture Partners. http://axios.link/nB2E
🚑 Aro Biotherapeutics, a Philadelphia-based startup whose first candidate focuses on non-small cell lung cancer, raised $13 million from firms like Johnson & Johnson Innovation and BioMotiv. http://axios.link/h6Gk
• MachineMetrics, a Boston-based provider of machine-monitoring software for factories, raised $11.3 million in Series A funding. Tola Capital led, and was joined by Hyperplane VC, Long River Ventures, Mass Ventures, Hub Angels and Firebolt Ventures. http://axios.link/kE1C
• Avoxi, an Atlanta-based provider of cloud communications services to contact centers, raised $10 million led by Ballast Point Ventures. www.avoxi.com
• Hemper, a New York-based cannabis accessories and lifestyle brand, raised $10 million in Series A funding from Poseidon Asset Management and Evolution VC Partners. http://axios.link/e67c
• Roposo, an India-based multilingual video-sharing app, raised $10 million in Series C funding from insiders Tiger Global and Bertelsmann. http://axios.link/9lWT
🚑 InterVenn BioSciences, a Redwood City, Calif.-based developer of a mass spectrometry platform, raised $9.4 million. Genoa Ventures led, and was joined by True Ventures, Amplify Partners, Boost VC, and Prado SV. www.intervenn.bio
🚑 Aspen RxHealth, maker of an app that connects pharmacists with patients to deliver clinical services, raised $9 million in Series A funding led by Flare Capital Partners. www.aspenrxhealth.com
• H.I.G. Capital acquired Vision Integrated Graphics, a Chicago-based print marketing company, from Concentric Equity Partners. www.visionps.com
🌶 L Catterton agreed to buy hot sauce maker Cholula (it’s the one with the wooden bottle tops) from Mexican tequila maker Jose Cuervo. http://axios.link/vca7
• Maple Media, a Los Angeles-based portfolio company of Shamrock Capital, purchased the mobile game portfolio of San Francisco-based Banana & Co. www.maplemedia.io
• MidOcean Partners purchased a majority stake in Meyers Research, a Beverly Hills, Calif.-based provider of data for residential real estate development and construction, which will be merged with existing portfolio company Hanley Wood. Seller Kennedy Wilson (NYSE: KW) retained a minority stake. www.meyersllc.com
• Permira agreed to buy five educational institutions in Spain and Portugal from Laureate Education (Nasdaq: LAUR), for $871 million.
🚑 PharMerica, a Louisville, Ky.-based pharmacy services company owned by KKR and Walgreens Boots Alliance, agreed to buy BrightSpring Health Services, a Louisville-based provider of home and community-based health services, from Onex Corp. http://axios.link/5YWx
• Acelity, a San Antonio-based wound care company owned by Apax Partners, is considering an IPO for the first half of 2019 that could value it at around $5 billion, per Bloomberg. It had last planned to go public in late 2016, but pulled the offering due to “market conditions.”
• Ping Identity, a Denver-based identity management software company owned by Vista Equity Partners, hired Goldman Sachs to lead an eventual IPO that could value the company at upwards of $3 billion, per Reuters. http://axios.link/rGHe
• Cisco (Nasdaq: CSCO) is in talks to buy Luxtera, a Carlsbad, Calif.-based optical chip technology company that’s raised over $170 million in VC funding, per Bloomberg. Luxtera backers include NEA, Tokyo Electron VC, August Capital, Sevin Rosen Funds and Lux Capital. http://axios.link/gfOf
• Morgan Stanley Capital Partners sold Hojeij Branded Foods, an Atlanta-based airport food and beverage concessionaire, to Lagardère Travel Retail (Paris: MMB) for $330 million.
• Tencent Music, a Chinese streaming music service, raised $1.1 billion in its IPO after pricing at $13 per share (low end of range). It will trade on the NYSE (TME) while Morgan Stanley was lead underwriter.
• Arctic Wolf, a Sunnyvale, Calif.-based security operations center-as-a-service company, acquired RootSecure, a Canadian security operations center-as-a-service company. Arctic Wolf has raised over $80 million in VC funding from firms like Sonae IM, The Future Fund, Lightspeed Venture Partners, Redpoint Ventures, Knollwood Investment Advisory, Adams Street Partners and Unusual Ventures. www.arcticwolf.com
• Boyu Capital, a Chinese venture capital firm, is raising its fourth fund, per an SEC filing. www.boyucapital.com
🚑 Frist Cressey Ventures has secured $50 million for an $80 million second healthcare-focused VC fund, per an SEC filing. Firm co-founder Bryan Cressey is not listed as a general partner. www.fcventures.com
• Oak Hill Capital Partners is raising up to $3 billion for its fifth fund, per an SEC filing.
• Tikehau Capital and Total SA held a €350 million first close on a new private equity fund focused on “energy transition.” LPs include Bpifrance and Groupama. www.tikehaucapital.com
• Two Sigma Ventures is raising its third fund, per an SEC filing. www.twosigmaventures.com
• Joe Cozzolino, former SVP and worldwide GM of Cisco Services, joined Siris Capital Group as an executive partner. www.siriscapital.com
• Tailwind Capital, a mid-market private equity firm, promoted Brian Berkin and Andrew Mayer to partner and Will Fleder to managing director. www.tailwind.com
🚑 Nick Smith (ex-Winton Group) joined Foresite Capital as head of investor relations. www.foresitecapital.com