Illustration: Sarah Grillo/Axios
Venture Capital
• Clay, a N.Y.-based marketing services company, raised $100m at a $3.1b valuation. CapitalG led, joined by Meritech Capital Partners and Sequoia Capital. Go deeper
💊 METiS Technologies, a Chinese nanodelivery biotech, raised $55.7m in Series D funding led by Beijing Medical and Health Industry Investment Fund and Daxing Industrial Investment Fund. Go deeper
• D-Tools, a Concord, Calif.-based business management software developer, raised $12m in Series C funding. StellarIQ led, joined by Greybull Stewardship. Go deeper
• Kontext, an SF-based advertising platform for AI chatbots and GenAI apps, raised $10m in seed funding. M13, led, joined by Torch Capital and Parable VC. Go deeper
🌎 SG Enviro, a Singapore-based wastewater treatment tech developer, raised $8m from Emerald Technology Ventures. Go deeper
⚡️Wattch, an Atlanta-based solar and battery storage management provider, raised $6m in seed funding led by Spero Ventures. Go deeper
Private Equity
• JMI Equity led a $355m minority investment in First Due, a Miami-based public safety software developer. TCV and Serent Capital participated. Go deeper
• Francisco Partners agreed to acquire Elite, a provider of legal software and payment solutions, from TPG. Go deeper
• GHK Capital Partners acquired Rogers Building Solutions, a Douglasville, Ga.-based provider of HVAC and plumbing services. rogersbuildingsolutions.com
• GreyLion invested in Slipstream IT, a Bue Bell, Pa.-based IT consultant to the pharma industry. Existing backer Denali Growth Partners reinvested. slipstream-it.com
• Lightview Capital acquired Vermana, an Orlando-based commercial pool services provider. Aldine and Patriot Capital participated. Go deeper
• Macquarie Group is planning to buy a minority stake in Luz Saude, a Portuguese hospital operator, outbidding CVC Capital Partners and KKR & Co., per Bloomberg. Go deeper
M&A
• Lufthansa abandoned its attempt to buy a stake in Spanish airline Air Europa, leaving Turkish Airlines as the only known remaining bidder. Go deeper
💊 SERB Pharmaceuticals of France acquired Princeton, N.J.-based cancer company Y-mAbs Therapeutics (Nasdaq: YMAB) for $412m. Go deeper
Fundraising
• Butterfly Equity raised $527m for a single-asset continuation fund focused on Mexican fast-casual chain Qdoba. Go deeper
• MGX is weighing plans to raise up to $25b for an AI fund, per Bloomberg. Go deeper
• Painswick Capital Management, a single founded by former AEA Investors CEO john Garcia, raised $1.5b for a debut fund that will focus on single-asset continuation vehicles. Go deeper
It's Personnel
• Joe Fath joined VC firm Eclipse as a partner and head of growth. He previously spent over two decades with T. Rowe Price. Go deeper
🌎Rayan Tegtmeier was named CEO Veganz Group (FRA: VEZ), a German plant-based food producer, effective Oct. 1. He succeeds Jan Bredack. Go deeper
⚡️William Waltz is retiring as president and CEO of Atkore (NYSE: ATKR), a Harvey, Ill.-based electrical products manufacturer. Go deeper
• Linda Yaccarino, former X CEO, has joined eMed Population Health, a GLP-1 telehealth company, as CEO. Go deeper
Odds & ends
⚡️LevelTen Energy, a Seattle-based marketplace for renewables projects backed by NGP Energy Technology Partners, is laying off 60 workers. Go deeper
🌎 Plant-based cheesemakers Schuman Cheese and Good Planet Foods launched a JV called GPV Foods. Go deeper
- Ryan Barwick, Natalie Breymeyer, Erin Brodwin, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Chris Metinko, Alan Neuhauser, and Dan Primack contributed to this report.
