Illustration: Brendan Lynch/Axios
Venture Capital
• Rivos, a Santa Clara, Calif.-based chip startup backed by Intel CEO Lip-Bu Tan, is seeking to raise between $400m to $500m at a $2b valuation, per the Information. Go deeper
🚑 Reprieve Cardiovascular, a Milford, Mass.-based maker of fluid management tech for congestive heart failure, raised a $61m Series B. Deerfield Management led, joined by Arboretum Ventures, Lightstone Ventures, Santé Ventures, Genesis Capital, Rex Health Ventures and Cadence Capital. Go deeper
• Protege, an AI training data platform, raised a $25m Series A. Footwork led, joined by CRV, Bloomberg Beta, Flex Capital, Shaper Capital, and Liquid 2 Ventures. Go deeper
🚑 Fountain Life, a longevity startup, raised an $18m Series B led by EOS Ventures. Go deeper
• Evertune, an AI marketing startup, raised $15m in Series A funding led by Felicis. Go deeper
• Onerway, a U.K.-founded payments company, raised $10m in additional Series A funding, valuing it near $200m. Yunqi led, with participation from Lanchi Ventures, Eminence Ventures and Enlight Growth Partners. Go deeper
• Drivepoint, a Boston-based finance platform for consumer brands, raised $9m, including a $7m Series A led by Vocap Partners. Bling Capital, Vinyl VC, and Las Olas Venture Capital and Jefferies' Family Office participated. Go deeper
• Coverd, a New York City-based platform to gamify financial wellness, raised $7.8m in seed funding. Yolo Investments led, joined by a16z, Volt Capital, WndrCo, Arbitrum Gaming Catalyst, and Tusk Ventures. coverd.us
• Qloud Games, the gaming studio behind Loftia, raised $5m in seed funding. Bitkraft Ventures and GFR Fund led, joined by a16z, 1UP Fund and Gaingels. Go deeper
Private Equity
• 26North completed its acquisition of AVI-SPL, a Tampa-based provider of audiovisual and communications systems, from Marlin Equity Partners at more than a $1b enterprise value. Go deeper
• Surge Private Equity invested in White Plains Linen, a Peekskill, N.Y.-based commercial laundry operator. whiteplainslinen.com
Public Listings
• Motive Technologies, an SF-based driver safety and fleet management company, has picked banks led by JPMorgan for an IPO. Kleiner Perkins backs the business valued at $2.9b in 2022. Go deeper
Liquidity
• Francisco Partners is weighing a "multibillion dollar" sale of Georgia-based cybersecurity firm BeyondTrust Software, per Bloomberg. Go deeper
M&A
• Bank of Montreal (TSX: BMO) is weighing a sale of its transportation finance arm, which could fetch around $1b and has $11b in assets, per Bloomberg. Go deeper
• Hillenbrand (NYSE: HI), a Batesville, Ind.-based plastic parts maker with nearly a $2b market cap, is exploring a sale, per Bloomberg. Go deeper
Fundraising
💊 Hatteras Venture Partners, a Durham, N.C.-based life sciences investor, raised $200m for its seventh fund. Go deeper
It's Personnel
• Harrison Davis joined H.I.G. Capital as a Miami-based managing director. He previously was with TZP Group. Go deeper
⚡Jigish Trivedi joined ESS Tech as chief operating officer. Trivedi was previously senior vice president of operations and global supply chain at Electric Hydrogen. Go deeper
Odds and ends
• Claire's Stores is placing its U.K. and Ireland business into insolvency after failing to secure a buyer. Elliott Management and Monarch Alternative Capital back the firm. Go deeper
- Ryan Barwick, Natalie Breymeyer, Erin Brodwin, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Chris Metinko, Alan Neuhauser, Dan Primack, and Brock E.W. Turner contributed to this report.
