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Venture capital is still very much a boys club, according to a new Axios analysis.
Yes, progress is still very slow, even in a year that saw brand-name firms like Andreessen Horowitz, Benchmark, Redpoint Ventures and Union Square Ventures add their first-ever women general partners.
• Status quo: The CEOs of Sprint and T-Mobile U.S. were on Capitol Hill yesterday, testifying on their proposed mobile mega-merger. The bottom line, per Axios' David McCabe, who was in the room:
Democratic lawmakers are clearly concerned about the deal. But there were no clear missteps by the executives. The deal still has a hill to climb, there just wasn’t one moment out of the hearings that changed the narrative around it.
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Levi Strauss & Co., the San Francisco-based jeans-maker, filed for a $100 million IPO. Expect that number to be a placeholder, with the WSJ reporting that Levi's plans to raise over $600 million at a valuation north of $3 billion.
• Flow Kana, a Redwood City, Calif.-based distributor of sun-grown cannabis products, raised $125 million in Series B funding led by return backer Gotham Green Partners. http://axios.link/fwse
🚑 Vor Biopharma, a cell therapy startup focused on acute myeloid leukemia, raised $42 million in Series A funding. 5AM Ventures and RA Capital Management co-led, and were joined by J&J Innovation, Novartis, University Ventures and company founder PureTech Health (LSE: PRTC). www.vorbiopharma.com
• Malt, a French online marketplace for freelance engineers, raised €25 million. Idinvest Partners led, and was joined by return backers ISAI and Serena Capital. http://axios.link/Evsm
🚑 Teckro, an Ireland-based software platform for clinical trials, raised $25 million in Series C funding. Northpond Ventures led, and was joined by Founders Fund, Sands Capital Ventures, Section 32 and Borealis Ventures. http://axios.link/GEqI
• Peltarion, a Sweden-based operational AI platform, raised $20 million in Series A funding. Euclidean Capital led, and was joined by return backers FAM and EQT Ventures. http://axios.link/z17i
🚑 Phylagen, a San Francisco-based microbiome data analytics startup, raised $14 million in Series A funding from Cultivian Sandbox, Breakout Ventures and Working Capital. www.phylagen.com
• Inshur, a New York-based commercial auto insurance startup, raised $7 million in Series A funding led by Munich Re Ventures. http://axios.link/SEVx
• Polly, a Seattle-based provider of workflow measurement software, raised $7 million. Madrona Venture Group led, and was joined by return backers the Slack Fund, Amplify Partners and Fathom Capital. www.polly.ai
• Jitta, a Bangkok-based online investing app, raised $6.5 million in seed funding led by Beacon VC. http://axios.link/wL7o
• Aunt Fannie’s, a Portland, Ore.-based maker of cleaning and pest control products, raised $5 million from angels like Monica Nassif (Mrs. Myer’s), Stuart Erickson (Guggenheim) and Kay Hong (Proenza Schouler). http://axios.link/D7Vy
• Abacus Group, a New York-based portfolio company of WestView Capital Partners, acquired Proactive Technologies, a New York-based provider of IT services for alternative investment firms. www.abacusgroupllc.com
• Astorg Partners acquired a control stake in Anaqua, a Boston-based provider of IP management solutions, from Insight Venture Partners and Bessemer Venture Partners. www.anaqua.com
• Bain Capital and The Carlyle Group are considering a joint takeover offer for Osram, a German lighting group with a current market cap north of $3.8 billion, per Reuters. http://axios.link/VO7t
• Bow River Capital agreed to acquire Kivu Consulting, a San Francisco-based cybersecurity consultant. www.kivuconsulting.com
• Causeway Capital Partners agreed to buy British cake baker Patisserie Valerie out of administration. http://axios.link/VRR3
🚑 HealthDrive, a Wellesley, Mass.-based portfolio company of Bain Capital, agreed to buy psychiatric care provider New England Geriatrics. www.healthdrive.com
• Main Post Partners invested in DeMert Brands, the Tampa, Fla.-based parent company of Not Your Mother’s haircare products.
🚑 Sivantos, a German hearing aids maker owned by private equity firm EQT Partners, received EU approval for its $8.3 billion merger with Denmark's Widex. http://axios.link/cGCE
💍 Primo Japan, a Japanese jewelry company owned by Longreach Group, is considering an IPO, per Bloomberg. http://axios.link/YeZJ
• Ant Financial, an affiliate of Alibaba (NYSE: BABA), agreed to buy UK-based currency exchange WorldFirst from backers like FTV Capital. TechCrunch puts the price-tag at around $700 million. http://axios.link/Y0z3
• Brightcove (Nasdaq: BCOV) agreed to buy the online video platform unit of Ooyala, a San Jose, Calif.-based company acquired by its management last year from Telstra. http://axios.link/eWel
• Canaccord Genuity Group (TSX: CF) agreed to buy New York-based M&A advisory Petsky Prunier for US$15 million upfront in stock nd up to US$40 million in earn-outs. http://axios.link/ELHV
⛽ Mitsubishi Corp. (Tokyo: 8058) acquired a 20% stake in British power supplier OVO Energy for £200 million. Existing OVO backers include Mayfair Equity and Generation Investment Management.
• Rovio, the Helsinki-listed maker of Angry Birds, is seeking a buyer for Hatch Entertainment, the cloud-based gaming service in which it holds an 80% stake. http://axios.link/g3Xy
🚑 5AM Ventures, a bi-coastal life sciences VC firm, raised $350 million for its sixth flagship fund and nearly $150 million for its first opportunities fund. www.5amventures.com
• Idinvest Partners raised €340 million for its second growth equity fund focused on European companies. www.idinvest.com
• Intudo Ventures of Indonesia raised $50 million for its second fund. http://axios.link/jcdk
• Open Prairie, an Effingham, Ill.-based private equity firm focused on rural opportunities, raised $81 million for its third fund. http://axios.link/tqR8
• Spark Capital is raising $400 million for its sixth flagship fund and $800 million for its third growth equity fund, per SEC filings. They will be the firm's first funds to not include Todd Dagres as a general partner (he won't lead new investments going forward, but will continue to help with fundraising/strategy and sit on existing boards).
• Hadley Wilkins is stepping down as head of marketing at Redpoint Ventures, per sources.