Illustration: Aïda Amer/Axios
Venture Capital
• Nscale, a London-based data center operator, plans to raise $900m in equity and convertible shares and $1.8b in debt, per Bloomberg. Go deeper
• Thunes, a Singapore-based payments business, raised $150m in Series D funding led by Apis Partners and Vitruvian Partners. Thunes.com
• P-1 AI, an SF-based engineering AI for physical systems, raised $23m in seed funding. Radical Ventures led, joined by Village Global, Schematic Ventures, and Lerer Hippeau. p-1.ai
🌎 Glacier, an SF-based robotic recycling developer, raised $16m in Series A funding. Ecosystem Integrity Fund led, joined by AlleyCorp, Alumni Ventures, Amazon Climate Pledge Fund, Cox Exponential, Elysium, New Enterprise Associates, One Small Planet, Overlap Holdings, Overture, VSC Ventures, and Working Capital Fund. Go deeper
• NetFoundry, a Charlotte, N.C.-based zero-trust networking platform, raised $12m in seed funding from SYN Ventures. Go deeper
🚑 Cipher Surgical, a Chantilly, Va.-based laparoscopic surgical technology company, raised $10m in Series A funding led by Medical Solutions. Go deeper
🚑 Gestalt Diagnostics, a Spokane, Wash.-based digital pathology startup, raised $7.5m in Series A funding from Cowles Ventures, TVF Funds, Inland Imaging Investments, and Kickstart Funds. Go deeper
• Sprive, a British mortgage overpayment platform, raised $7.3m in seed funding led by Ascension, with participation from Channel 4 Ventures, Velocity Capital, and Two Magnolias. Go deeper
• Zest Equity, a UAE-based private market transactions platform, raised $4.3m in seed funding led by Prosus Ventures, with participation from Morgan Stanley. Go deeper
Private Equity
• Bain Capital is in talks to lead a $2b investment in Acrisure, an insurance broker, per Bloomberg. Go deeper
• iMENA, an Abu Dhabi-based tech investor likely to go public in Saudi Arabia, raised $135m from Sanabil Investments and FJ Labs. Go deeper
🚑 Smartlinx, a Hackensack, N.J.-based portfolio company of Lone View Capital, acquired StafferLink, a Fayetteville, Ga.-based health staffing software company. stafferlink.com
Liquidity Events
• Datadog (Nasdaq: DDOG) acquired Metaplane, a Boston-based data observability platform that had raised over $20m from firms like Felicis, Khosla Ventures, Flybridge, YC, Stage 2 Capital, and Snowflake. Metaplane.dev
• WorkStep, an SF-based employee engagement platform, acquired WorkHound, a Chattanooga, Tenn.-based employee feedback management platform for the supply chain industry that had raised over $13m from firms like Level Equity. WorkStep has raised over $50m from firms like FirstMark Capital and New Roads Capital Partners. Go deeper
Debt
💊 Biohaven (NYSE: BHVN), a New Haven-Conn.-based clinical-stage biopharmaceutical, could receive up to $600m from Oberland Capital Management. Go deeper
⚡️ Nexamp, a Boston-based solar and storage developer, closed a $340m private placement debt refinancing with PGIM Private Capital. Go deeper
Odds and Ends
🌎 Mati Carbon, a Houston-based enhanced rock weathering carbon removal startup, received $50m from the Xprize carbon removal competition. Go deeper
Fundraising
• Chang Robotics launched a $50m fund. Go deeper
• FPV Ventures raised $525m for its second fund. Go deeper
• Escalate Capital Partners, a private credit and growth equity firm, raised $350m for its fifth fund. escalatecapital.com
It's Personnel
• Andrew Curry (ex-Carlyle) and Henry Minello (Permira) each joined SQ Capital as managing directors in IR and investments respectively. Go deeper
• Denise Roth, former administration of the General Services Administration, is joining Commonweal Ventures as a senior advisor. commonwealventures.com
- Erin Brodwin, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Alan Neuhauser, Dan Primack, and Aaron Weitzman contributed to this report.
