It's been a bad week for the idea that boards of directors are bulwarks against C-suite malfeasance. On the other hand, it's been a good week for rubber stamp manufacturers.

Driving the news: The board of media startup Ozy Media chose not to investigate a blatant fraud perpetrated by one of its top executives against Goldman Sachs, which was in talks to invest in Ozy.

• Goldman in February told Ozy it wanted to speak with YouTube about some of the viewership and revenue numbers Ozy had provided during due diligence, as first reported by the NY Times' Ben Smith.
• Ozy set up the meeting. But the person purporting to be a YouTube exec on the call was actually Ozy co-founder and COO Samir Rao, who apparently is a pretty lousy conman.
• Goldman figured it and didn't invest. There is now at least one securities fraud investigation reportedly underway. Ozy continues to employ Rao, with co-founder and CEO Carlos Watson brushing it aside as a "personal mental health issue."
• But the board, led since September by hedge fund manager and Milwaukee Bucks owner Marc Lasry, kept its head comfortably stuck in the sand. Just for starters: What did Watson know and when did he know it? If the YouTube numbers provided to Goldman were accurate, why would anyone need to fake the meeting?

All of this comes just days after former U.S. Defense Secretary Jim Mattis testified in the Elizabeth Holmes trial that "there became a point when I didn't know what to believe about Theranos anymore."

• Mattis was a director in Theranos for three years, pulling $150,000 annually.
• He gave no suggestion that his loss of faith prompted him to launch an independent investigation, even though the company was conducting vital medical tests on unsuspecting patients. Nor it cause him to resign, as he was on the Theranos board until then-President Trump tapped him to lead DOD in late 2016.

None of this is terribly surprising to those of us who cover private companies, and call board members to confirm news tips.

• It's very common for directors to profess sincere ignorance, which is different than when they simply decline to talk because of confidentiality requirements. If the CEO didn't mention the thing, or put it in the board book, then the board member doesn't know.
• To be sure, there are good directors out there. Ones who would have dug deep into both Ozy and Theranos, were they on those boards. So, #NotAllDirectors, or whatever.

The bottom line: There have been publicly company board reckonings, tied to major scandals. But private boards continue to fly under the radar, even when their companies are in the headlines.

Creative Artists Agency agreed to buy rival Los Angeles talent agency ICM Partners. No financial terms were disclosed.

• Why it's the BFD: This is the biggest talent agency tie-up since William Morris merged with Endeavor in 2009, Axios' Sara Fischer writes. It also could face antitrust scrutiny, as regulators are paying way more attention to Hollywood consolidation than they were 11 years ago.

• PE angle: CAA is owned by TPG Capital, while ICM's minority shareholders include CrestView Partners.
• Bonus: Endeavor did a deal of its own yesterday, agreeing to buy London-based sports betting biz OpenBet from Scientific Games for $1.2 billion in cash and stock. (Flashback: Gambling on sports betting growth).
• The bottom line: "CAA and ICM combining would bring the latter’s TV literary department, publishing and music strength to CAA. ICM in recent months has bolstered its operations in sports, where CAA already has a big footprint, and it also adds to CAA's work with broadcast TV news anchors and hosts." — Variety

• Coalition, an SF-based cybersecurity insurance provider, raised $205 million in Series E funding at a valuation north of $3.5 billion co-led by Durable Capital, T. Rowe Price and Whale Rock Capital. http://axios.link/OdJM

🚑 Elligo Health Research, an Austin, Texas-based electronic medical records miner, raised $135 million in new funding. Morgan Stanley Expansion Capital and Ally Bridge co-led, and were joined by Norwest Venture Partners. Some proceeds were used to buy ClinEdge, a research practice management and clinical services organization. http://axios.link/xHqB

• Conexiom, a Canadian provider of sales order and invoice automation SaaS, raised $130 million from Warburg Pincus. www.conexiom.com

• Multiverse, a London-based online apprenticeship program provider, raised $130 million in Series C funding co-led by D1 Capital Partners and BOND. www.multiverse.io

• Cover Genius, a Sydney-based insure-tech focused on e-commerce clients, raised A$100 million in Series C funding at a A$1 billion valuation. Sompo Asia led, and was joined by G Squared. http://axios.link/kspM

• Gem, an SF-based recruiting platform, raised $100 million in Series C funding at a $1.2 billion valuation. Iconiq led, and was joined by Sapphire Ventures, Meritech Capital Partners and insiders Accel and Greylock. www.gem.com

🚑 Anji Pharma, a Shanghai-based biotech focused on diabetes, chronic kidney disease and constipation, raised $70 million in Series B funding from CR Capital. http://axios.link/hH8F

🚑 Stellar Health, a point-of-care workflow tool for healthcare providers, raised $60 million in Series B funding. General Atlantic led, and was joined by Point72 Ventures and Primary Venture Partners. www.stellar.health

• Astera Labs, a Santa Clara, Calif.-based fabless chip startup, raised $50 million in Series C funding at a $950 million post-money valuation. Fidelity led, and was joined by Atreides Management, Valor Equity Partners and insiders Avigdor Willenz Group, GlobalLink1 Capital, Intel Capital, Sutter Hill Ventures and VentureTec. http://axios.link/yH2r

• Capital Float, an Indian BNPL startup, raised $50 million. Lightrock India led, and was joined by Sequoia Capital India, Ribbit Capital and Creation Investments. http://axios.link/BQYr

• Syndio, a Seattle-based workplace analytics platform focused on pay equity, raised $50 million in Series C funding. Emerson Collective and Bessemer Venture Partners co-led, and were joined by Voyager Capital. http://axios.link/QrA0

• Omaha National, an insure-tech focused on workers’ comp for SMBs, raised $45 million in Series B funding. Accomplice led, and was joined by HighSage Ventures and Tull Investments. www.omahanational.com

🚑 NovaSignal, an LA-based brain health assessment startup, raised $37 million in Series C1 funding co-led by Alpha Edison and Reimagined Ventures. www.novasignal.com

• Acceldata, a San Jose, Calif.-based data observability cloud, raised $35 million. Insight Partners led, and was joined by March Capital and insiders Lightspeed, Sorenson Ventures and Emergent Ventures. www.acceldata.com

• Bijnis, an Indian B2B commerce enablement startup, raised $30 million in Series B funding. Westbridge Capital led, and was joined by insiders Sequoia India, InfoEdge, Waterbridge Ventures and Matrix Partners India. http://axios.link/5QBC

🚑 Kytopen, a Cambridge, Mass.-based developer of engineered cell therapy tech, raised $30 million in Series A funding. Northpond Ventures led, and was joined by The Engine, Horizon Ventures and Mass Ventures. www.kytopen.com

• New Age Meats, a Berkeley, Calif.-based cultured meat startup, raised $25 million in Series A funding. Hanwha Solutions led, and was joined by insiders SOSV, TechU Ventures, ff VC and Siddhi Capital. http://axios.link/xq1B

• Arize AI, a Mill Valley, Calif.-based ML observability startup, raised $19 million in Series A funding. Battery Ventures led, and was joined by insiders Foundation Capital, Trinity Ventures, The House Fund and Swift Ventures. http://axios.link/RhDM

• Dance, a German e-bike subscription service, raised €16.5 million. Euazeo led, and was joined by HV Capital and BlueYard. http://axios.link/pE1M

• Swan, a French banking-as-a-service platform, raised €16 million led by Accel. http://axios.link/zJcC

🐮 Vytelle, a Kansas City, Mo.-based livestock genetics services startup, raised $13.2 million in Series A funding co-led by Open Prairie, Ag-tech VC and Fulcrum Global Capital. www.vytelle.com

• Burro, a Philadelphia-based agricultural robotics startup, raised $10.9 million in Series A funding. S2G Ventures and Toyota Ventures co-led, and were joined by F-Prime Capital and the Cibus Enterprise Fund. http://axios.link/gtIg

• Ramen VR, an SF-based MMO game developer, raised $10 million in Series A funding from Makers Fund, Anthos Capital and Dune Ventures. www.ramenvr.com

• EdSights, a New York-based student retention services, raised $5 million in Series A funding led by Album VC. http://axios.link/OWso

• Qovery, a French cloud deployment startup, raised $4 million in seed funding co-led by Crane Venture Partners and Speedinvest. http://axios.link/ABG1

• Dataships, a Marin, Calif.-based data privacy compliance platform, raised $3 million in seed funding co-led by Lavrock Ventures and Urban Innovation Fund. www.dataships.io

• Verihubs, an Indonesian ID and data verification startup, raised $2.8 million in seed funding led by Insignia Venture Partners. http://axios.link/IWIP

• Coinrule, a British automated crypto trading platform, raised $2.2 million in seed funding from backers like Fitbit founder James Park and Twitch founder Kevin Lin. www.coinrule.com

🚑 Sanome, a British biomarkers startup, raised £2 million led by Heal Capital. www.sanome.com

• Alvarez & Marsal Capital Partners acquired Worldwise, a Novato, Calif.-based pet supplies company, from Mistral Equity Partners. www.worldwise.com

🚑 Ares Management agreed to pay more than $300 million to buy The Lockwood Group, a Stamford, Conn.-based medical communications business, per PE Hub. http://axios.link/CAgW

• Francisco Partners invested in SourceScrub, an SF-based private company intelligence platform for the financial services industry. www.sourcescrub.com

⚡ Generation Investment Management agreed to invest $600 million in Octopus Energy Group, a British renewable energy switching service, at a $4 billion pre-money valuation. http://axios.link/d21I

• Housatonic Partners invested in Veridic Solutions, a Dallas-based cloud and digital transformation services company. www.veridicsolutions.com

🚑 Kohlberg & Co. acquired Ob Hospitalist Group, a provider of obstetric hospitalists in 34 states, from Gryphon Investors. www.obhg.com

• Market Pay, a French portfolio company of AnaCap Financial Partners, acquired Dejamobile, a French provider of mobile and connected equipment payment solutions. www.marketpay.eu

• Stratus, a Mentor, Ohio-based portfolio company of Vestar Capital Partners, acquired MLE Brand Services, an Elmhurst, Ill.-based brand services firm. www.stratusunlimited.com

• TA Associates invested in Caprock, a Frederick, Md.-based provider of wealth management solutions for ultra-high net worth clients, family offices and foundations. www.caprockinc.com

• Vista Equity Partners agreed to buy Blue Prism (LSE: PRSM), a British robotic process automation company for £1.1 billion. Vista beat out TPG. http://axios.link/1UAZ

• AutoStore, a Norwegian warehouse robotics company, is seeking to raise $315 million in an Oslo IPO. Backers include SoftBank, EQT and Thomas H. Lee Partners. http://axios.link/dVww

🚑 Exscientia, a British AI drug discovery startup, set IPO terms to 13.1 million shares at $20-$22. It would have a $2.6 billion fully diluted value, were it to price in the middle, plans to list on the Nasdaq (EXAI) and raised over $400 million from firms like SoftBank, Evotec, Novo Holdings, BlackRock, Celgene, GT Healthcare Partners, Bristol-Myers Squibb and Casdin Capital. http://axios.link/yANJ

🚑 Minerva Surgical, a Santa Clara, Calif.-based medical device maker focused on uterine bleeding, filed for an IPO. It plans to list on the Nasdaq (UTRS) and reports a $29 million net loss on $26 million in revenue for the first half of 2021. Minerva raised over $230 million from firms like NEA (38.6% pre-IPO stake), Crown Ventures (10%), Vivo Ventures (9.8%), Versant Ventures (7.5%), Novo Holdings (6.5%) and Boston Scientific (6%). http://axios.link/UAT9

• P10, a Dallas-based provider of investment solutions to alt asset managers, filed for an IPO. It plans to list on the NYSE (PX), and reports $5 million of net income on $67 million in revenue for the first half of 2021. http://axios.link/WWD3

🌭 Portillo's, a fast casual restaurant chain known for Chicago-style hot dogs, filed for an IPO that Renaissance Capital estimates could raise $400 million. It plans to list on the Nasdaq (PTLO) and reports $14 million of net income on $258 million in revenue for the first half of 2021. Shareholders include Berkshire Partners. http://axios.link/h1lZ

🥥 The Vita Coco Co., a New York-based coconut water company, filed for an IPO. It plans to list on the Nasdaq (COCO) and reports $9 million of net income on $177 million in revenue for the first half of 2021. Backers include Verlinvest. http://axios.link/EOq6

• Winc, a Santa Monica, Calif.-based wine producer and distributor, filed for a $75 million IPO. It plans to list on the NYSE (BEV) and reports a $3 million net loss on $35 million in revenue for the first half of 2021. Backers include Bessemer Venture Partners, Shining Capital and Cool Japan Fund. http://axios.link/XYkG

• Advent International is seeking to sell the Southeast Asian operations of Singapore-based tutoring center operator The Learning Lab, which could fetch more than $500 million, per Bloomberg. http://axios.link/o1ga

• Toyota agreed to buy Renovo, a Campbell, Calif.-based maker of auto operating system software that raised over $14 million from firms like True Ventures, Verizon Ventures and Intact Ventures. http://axios.link/YMS6

⚡ Warburg Pincus and the Ontario Teachers' are seeking a buyer for Chisholm Energy, an oil and gas E&P focused on the Permian Basin, per Reuters. http://axios.link/WM7i

• Agnico Eagle Mines (TSX: AEM) agreed to buy rival Canadian miner Kirkland Lake Gold (TSX: KL) for C$13.5 billion. http://axios.link/RP9u

• Allcargo Logistics of India is seeking to fetch around $1 billion for its ECU Worldwide shipping container unit, per Reuters. http://axios.link/Ja80

🚑 Merck (NYSE: MRK) is in talks to buy Cambridge, Mass.-based rare disease biotech Acceleron Pharma (Nasdaq: XLRN) for around $11 billion, per the WSJ. http://axios.link/8cC7

⚡ Saudi Industrial Investment and Petrochem, both listed Saudi petrochemicals firms, agreed to merge. http://axios.link/YigO

• PSG raised $4.5 billion for its fifth flagship U.S. growth equity fund. www.psgequity.com

• Vertex Ventures of Singapore is premarketing a new fund targeting $400 million, per Reuters. http://axios.link/Pqjh

• Ralph DeBernardo joined Sapphire Ventures as a partner and head of IR. He previously was with Peak Rock Capital. www.sapphireventures.com

• Asif Giga joined ClearSky as a director. He previously was with Ericsson Ventures. www.clear-sky.com

• Ned Kingsley re-joined Silversmith Capital Partners as a VP after getting his MBA from Stanford. www.silversmith.com

• Pradeep Saha (ex-CEO of Signature Systems and Horsburgh & Scott) joined PE firm Graycliff Partners as an operating partner. www.graycliffpartners.com

• Leslie Shribman left Goldman Sachs to join TPG as senior director of external affairs. www.tpg.com

• Luke Sikora joined the growth equity team of JPMorgan Private Capital. He previously was with Vulcan Capital. www.jpm.com