Illustration: Aïda Amer/Axios
Venture Capital
• BrightAI, an SF-based infrastructure maintenance startup, raised $51m in Series A funding co-led by Khosla Ventures and Inspired Capital, with participation from BoxGroup, Marlinspike, VSC Ventures, Rsquared VC, and Cooley. bright.ai
• Rune Technologies, an Arlington, Va.-based military logistics startup, raised $24m led by Human Capital and including Pax VC, Washington Harbour Partners, Andreessen Horowitz, Point72 Ventures, XYZ Venture Capital, and Forward Deployed VC. Go deeper
• Alix, an SF-based wealth transfer platform, raised a $20m Series A round from Acrew Capital, Charles Schwab and Edward Jones Ventures. meetalix.com
🚑 Fortuna Health, a NYC-based Medicaid navigation tech startup, raised $18m in Series A funding. Andreessen Horowitz led, joined by Y Combinator and executives from Abridge, DoorDash, Hex, One Medical, Oscar Health, Scale and Vanta. Go deeper
• Vibranium Labs, an engineer issue troubleshooting AI, raised $4.6m in seed funding from investors including Calibrate VC, Mirae Asset, Franklin Templeton, Plug and Play, Gaingels, FalconX, and DCG. Go deeper
⚡Stellaria, a French startup building a fast-neutron molten-salt nuclear reactor, raised €24m led by At One Ventures and Supernova Invest, with participation from CEA Investissements, Schneider Electric, Exergon and Technip Energies. Go deeper
🌍 Sunsave, a U.K.-based solar subscription service, raised £13m in Series A funding co-led by Norrsken VC and IPGL. Go deeper
• Mango, a Mexico-based credit and payments company for the construction industry, raised $3m in seed funding led by Ironspring Ventures, with participation from Brick & Mortar Ventures, Great North Ventures, Buildtech Ventures, Incisive Ventures, and First Check Ventures. mangxo.com
• LeadStory, a New York-based news streaming platform, raised $2.75m in seed funding led by Checker Media. Go deeper
• Teletactica, a Ukrainian defense tech company, raised $1.5m in funding from MITS Capital and Green Flag Ventures. Go deeper
Private Equity
•Apax Partners agreed to acquire Apax Global Alpha (LON: APAX), a French investment company, for about $1.1b. Go deeper
• Brentwood Associates closed a $410m continuation fund for Watermill Express, a self-service drinking water and ice company. Hollyport Capital led the continuation vehicle with participation from Pantheon and Portfolio Advisors. Go deeper
• BUKO Group, backed by Equistone Partners, acquired Keltic Traffic Management, a London-based temporary traffic management operation. bukogroup.com
• KKR acquired a minority stake in Etraveli Group, a Stockholm-based travel tech firm backed by CVC Capital Partners. Go deeper.
• Peak Roofing Partners, an Exuma Capital Partners portfolio company, acquired Mount Dora, Fla.-based roofing company Skymark Roofing. peakroofingpartners.com
• Regnology, backed by CPP, acquired Wolters Kluwer's finance, risk, and regulatory business for over $500m. Go deeper
Liquidity
• SS&C Technologies, a Connecticut-based fund administrator, will buy London-headquartered global funds network Calastone from Carlyle for £766 million. Go deeper
Public Listings
• Ambiq Micro, an Arm-backed maker of ultra-low power semiconductors for AI, is seeking to raise as much as $85m from an IPO. It will market 3.4m shares at $22 to $25 each. Go deeper
• Bitgo, a New York-based crypto custodian, said it had filed confidentially for an IPO. Craft Ventures and Redpoint Ventures back the firm. Go deeper
• The Ether Machine, an Ethereum treasury business, plans to go public via merger with Dynamix Corp. 10T Holdings, Electric Capital, and Pantera Capital back the firm. Go deeper
• Verisure, a Swedish alarm company, could seek to raise about $3.5b in an IPO in the country, per Bloomberg. H&F backs the firm. It could value it at about €20b including debt. Go deeper
M&A
• Polymarket acquired QCX, a small derivatives exchange, for $112m, giving it access to the U.S. market. Go deeper
It's Personnel
• Roland Kläy, co-founder of Radicant Bank, was named CFO at VP Bank. Go deeper
• Rajesh Mehta, formerly at Wipro, was named CFO at Perficient, succeeding Paul Martin, who will retire. Go deeper
• Aftab Shahsingh, a former UBS banker, is joining Morgan Stanley to lead industrial services. Go deeper.
• Bernal Vargas, formerly of JP Morgan Chase, is joining Citigroup to lead North American equity capital markets. Go deeper.
• Ron Zori was named a venture partner at Lerer Hippeau. He was previously VP of business & corporate development at Public. Go deeper
- Ryan Barwick, Natalie Breymeyer, Erin Brodwin, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, and Chris Metinko contributed to this report.
