Illustration: Rebecca Zisser/Axios
Female founders continue to hold much less equity in their companies than do male peers, according to a Carta analysis of nearly 10,000 startups.
Why the gender equity gap? The most obvious explanation is discrimination, whether conscious or not. Also:
The bottom line is that, when it comes to gender equality, the country's most progressive and disruptive companies too often are regressive and clinging to the status quo.
🏀 Rebound: Silver Lake has interest in acquiring major stakes in the New York Knicks and New York Rangers, according to the NY Post.
Silver Lake is already the largest non-Dolan owner of the teams' parent company MSG, with nearly an 8% stake. The reported plan would see it substantially raise its interests in the two teams — but not in other MSG assets — ahead of an expected spin-off.
Also in sports deal news:
Illustration: Sarah Grillo/Axios
Saudi Arabia yesterday approved IPO plans for state-owned oil company Aramco, with a prospectus to be released on November 9.
• Deserve, a Menlo Park-based “credit-as-a-service” platform, raised $50 million. Goldman Sachs led, and was joined by return backers Sallie Mae, Accel, Aspect Ventures, Pelion Venture Partners and Mission Holdings. www.deserve.com
• Centrical, an Israeli-based employee engagement and performance management platform, raised $13 million. Aleph led, and was joined by return backer JVP. www.centrical.com
• Cervest, a London-based climate forecasting platform, raised 3.7 million in seed funding. Future Positive Capital led, and was joined by Astanor Ventures. http://axios.link/hutq
• BuildOps, a Los Angeles-based provider of management software for commercial real estate contractors, raised $5.8 million in seed funding led by Fika Ventures. http://axios.link/oRhq
• Centerbridge Partners and Gallatin Point Capital completed their $446 million purchase of a 32.5% stake in Israeli insurer Phoenix Holdings from Delek Group. http://axios.link/NeZV
• Harvest Partners bought Yellowstone Landscape, a Bunnell, Fla.-based provider of commercial landscaping services, from CIVC Partners. www.yellowstonelandscape.com
🍗 ICV Partners invested in JK&T Wings, a Michigan-based franchisee of Buffalo Wild Wings restaurants.
• Stellium, a UK-based data-center operator, raised £30 million led by Tiger Infrastructure. http://axios.link/z5C7
• U.S. Nonwovens, a Brentwood, N.Y.-based portfolio company of Wind Point Partners, acquired the PVA packaging unit of Multi-Pack, a Mt. Prospect, Ill.-based portfolio company of Cameron Holdings. www.multipacksolutions.co
• Yellow Wood Partners completed its $585 million purchase of foot-care products brand Dr. Scholl’s from Bayer. http://axios.link/yTCg
• Nine companies expect to price IPOs this week on U.S. exchanges, including the largest-ever offering from a Canadian issuer (GFL Environmental). http://axios.link/dZPQ
• Fangdd Network Group, a Chinese online real estate trading platform, raised $78 million in its IPO. The company priced 6 million shares at $13, versus plans to offer 7 million shares at $13-$15, for a market cap of $1.1 billion. It closed its first day of trading flat (Nasdaq: DUO). Fangdd had raised over $300 million in VC funding from firms like Sky9 Capital, FountainVest Partners, CyberAgent Ventures, CPPIB, Vision Knight Capital Partners, Lightspeed China Partners, and CDH China. http://axios.link/QY4b
• Axereal, a French grain co-op, became the world’s largest malt producer, by closing its previously-announced purchase of Cargill’s malt business. http://axios.link/uTvA
⛽ EDF (Paris: EDF) agreed to buy Pivot Power, a UK-based provider of EV charging infrastructure. http://axios.link/sMMo
• Huazhu Group (Nasdaq: HTHT), a Chinese hotel operator, agreed to buy German hotelier Deutsche Hospitality for €700 million. http://axios.link/tg8A
• Independence Group (ASX: IGO) launched a A$312 million hostile takeover bid for rival Australian nickel miner Panoramic Resources (ASX: PAN). http://axios.link/mOfT
• Morningstar (Nasdaq: MORN) agreed to buy AdviserLogic, an Australian provider of financial advisor software. http://axios.link/oZR7
• Santander invested £350 million for a 50.1% stake in Ebury, a London-based provider of foreign exchange, money transfer and other currency services to SMEs. http://axios.link/p1jV
🚑 Stryker (NYSE: SYK) agreed to buy rival medical device maker Wright Medical Group (Nasdaq: WMGI) for $4 billion in cash, or $30.75 per share (39.7% premium over Friday’s closing price). http://axios.link/RIth
• Altas Partners closed its second fund with $3 billion in capital commitments. www.altas.com
• Bob Brown joined New York-based private equity firm Motive Partners as a founding partner. He previously founded and led BearTooth Advisors (acquired by Houlihan Lokey) and, before that, led fundraising for both Advent International and The Carlyle Group. http://axios.link/3jgJ
• Jake Cabela joined Golden Gate Capital as head of capital formation, per his LinkedIn page. He previously was a managing director with crowdsourcing platform CircleUp. www.goldengatecap.com
• Gonzalo Erroz joined Hayfin Capital Management as co-head of private equity funds, per PE International. He previously was with GIC. http://axios.link/EWfa
• Michal Katz joined Mizuho Americas as head of corporate and investment banking, per her LinkedIn page. She previously co-led tech investment banking for RBC Capital Markets. www.mizuhoamericas.com
• Ian Mackay joined BlackArch Partners as a managing director and head of financial sponsors, per his LinkedIn page. He previously spent 12 years with Raymond James. www.blackarchpartners.com
• Cack Wilhelm, who recently stepped down as a San Francisco-based partner with VC firm Accomplice, has joined IVP, Axios has learned. www.ivp.com
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