Illustration: Rebecca Zisser/Axios
Venture Capital
• xAI is seeking a $113 billion valuation via a $300m share sale, per the FT. Go deeper
🌎 SkyNRG, a Dutch sustainable aviation fuel producer, raised €300m led by APG, joined by Macquarie Asset Management. Go deeper
• Infleqtion, a Boulder, Colo.-based quantum computing startup, raised $100m in Series C funding from Glynn Capital, Counterpoint Global, S32, and SAIC. Go deeper
🚑 Prepared, a New York-based provider of emergency response tools, raised $80m. General Catalyst led, joined by insiders a16z, First Round Capital and Radical Ventures. Go deeper
🚑 Outcomes4Me, a Boston-based AI cancer care startup, raised $21m led by Salica Investments. Go deeper
• AccelerComm, a British wireless tech startup, raised $15m. IP Group led, joined by IQ Capital, Swisscom Ventures, and Bloc Ventures. Go deeper
🌎 Lumoview Building Analytics, a German provider of building data capture for energy efficiency, raised €3m from Greencode Ventures, IBB Ventures, and WakeUp Capital. Go deeper
Private equity
🐔 Roark Capital agreed to buy fast-casual chain Dave's Hot Chicken for around $1b. BFD flashback.
⚡️Ecobat, a Dallas-based battery recycler, sold its European battery distribution business to Endless, a U.K.-based private equity firm. Go deeper
Public Offerings
• Voyager, a Denver-based aerospace and defense company, set IPO terms to 11m shares at $26-$29. It would have a $1.6b fully diluted valuation, were it to price in the middle, reports a $66m net loss on $144m in revenue for 2024, and plans to list on the NYSE (VOYG). Go deeper
M&A
• Rosebank Industries (LSE: ROSE) restarted talks to acquire wire harness maker Electrical Components International for under $1.9b from Cerberus Capital Management. Go deeper
Fundraising
• Goldman Sachs is marketing its 10th buyout fund with plans to raise more than the $14.2b raised for Fund IX, per Bloomberg. Go deeper
🌎 Planeteer Capital, an NYC-based early-stage climate investor, closed its debut fund with $54m, per WSJ Pro. It initially targeted $100m.
It's Personnel
🚑 Brad Rose, former chief growth officer of Blackbird Health, joined General Catalyst's Health Assurance Transformation Company (HATCo) as head of partnerships. Go deeper
• Anastasia Amoroso joined Partners Group as a managing director and chief investment strategist for private wealth and retirement. She previously was with iCapital. Go deeper
• Ashish Kakran joined Sierra Ventures as a partner. He previously was a partner with Thomvest Partners. Go deeper
• Siobhan Nolan Mangini, a former exec with Castlight Health and NGM Biopharma, joined Venrock as partner. Go deeper
⚡️ Tony Dorazio was appointed CEO of Corning Energy, a Corning, N.Y.-based utility. Dorazio was managing partner of consulting firm Montgomery Group. Go deeper
⚡️ Tonja Wicks joined EsVolta, a Newport Beach, Calif.-based utility-scale energy storage developer, as VP of government and regulatory affairs. Wicks was VP of regulatory affairs for Elevate Renewables. esvolta.com
🌎 Gary Smith was nominated to the board of Planet Labs, an SF-based Earth data provider. Smith is president and CEO of Ciena. Go deeper
