Illustration: Brendan Lynch/Axios
Venture Capital
💊 Jupiter Endovascular, a Menlo Park, Calif.-based developer of endovascular procedures tech, raised over $40m in Series B funding. Sonder Capital led, joined by Senvest Management and LB Investment. Go deeper
💊 AeroRx Therapeutics, a La Jolla, Calif.-based biotech focused on chronic respiratory diseases, raised $21m in Series A funding. Avalon BioVentures led, joined by Correlation Ventures and Alexandria Venture Investments. Go deeper
🌍 Membrion, a Seattle-based maker of ceramic desalination membranes, raised $20m in Series B1 funding from Pangaea Ventures, PureTerra Ventures, Ecolab, W. L. Gore & Associates, The Lewis Family Office, Safar Partners, Lam Research, Indico Ventures, and Giantleap Capital. Go deeper
• Invigilator, a South Africa-based remote student assessment platform, raised $11m led by Kaltroco. Go deeper
• AltStore, a third-party app store focused on Europe, raised $6m in Series A funding from Pace Capital. Go deeper
• Appy.AI, a Denver-based business creation platform, raised $5m in seed funding led by Four Rivers and Founder Collective. Go deeper
• Resourcly, a German provider of inventory streamlining software, raised €2.7m in seed funding led by Project A. Go deeper
• Nexcade, a London-based freight forwarding automation company, raised $2.5m in pre-seed funding. Connect Ventures led, joined by MMC Ventures, Entropy Industrial Capital, and Inovia. Go deeper
• Ewake, a Paris-based software reliability improvement startup, raised €2m in seed funding. Connect Ventures led, joined by 2100 Ventures, Notion Capital, Insiders, and 50partners. Go deeper
🚑 Datamonk, a Dutch medical imaging data migration startup, raised $1.9m in pre-seed funding led by Healthy.Capital and Nina Capital. Go deeper
Private Equity
• Avance Investment Management invested in Barchemy, a Donora, Pa.-based maker of better-for-you chocolate and confectionery ingredients. Go deeper
⚡️ Commonwealth Electrical Technologies, backed by Broad Sky Partners, acquired NuWave Energy Solutions, a Norwell, Mass.-based energy-efficiency company. Go deeper
• Constant Contact raised additional capital from insider Clearlake Capital Group. Go deeper
• Mountaingate Capital acquired a majority stake in Chicago-based corporate communications firm Walker Sands. Go deeper
• O2 Investment Partners invested in Dynamic Drain Technologies, an Alexandria, Va.-based trenchless pipe rehabilitation service company. Go deeper
⚡️ Provident Energy Management, backed by Northleaf Capital Partners, acquired PowerStream Energy Services, a provider of sub-metering and billing solutions, from Alectra Energy Services. Go deeper
🚑 Redwood Family Care Network, a portfolio company of Webster Equity Partners, acquired Eagles Wing, a provider of support services to individuals with developmental disabilities. Go deeper
• Smith System, backed by MidOcean Partners, acquired Utilimarc, a Minneapolis-based fleet analytics and benchmarking company. Go deeper
• Softrax, backed by TELEO Capital Management, acquired BluLogix, a McLean, Va.-based provider of subscription billing and revenue management software. Go deeper
• Westland Insurance, a Canadian portfolio company of Ontario Teachers, acquired Calgary-based Beneficial Insurance Solutions. Go deeper
• WSB, a GHK Capital portfolio company, acquired CAS, an Austin, Texas-based civil engineering firm. Go deeper
Going Public
• MMC Ports, Malaysia's largest port operator, is postponing its IPO to next year, per Bloomberg. Go deeper
Liquidity Events
• Itron (Nasdaq: ITRI) agreed to acquire Urbint, a Miami-based provider of infrastructure risk assessment software, for $325m. Urbint raised over $130m from Energize Capital, S2G Ventures, National Grid Partners, Blue Bear Capital, Climate Investment, Energy Impact Partners, and Zoma Capital. Go deeper
• Marlin Equity Partners hired Evercore to explore a sale of Medius, a Swedish accounts payable software firm that could fetch around $2b, per Bloomberg. Go deeper
🚑 PureHealth of Dubai completed its 60% stake acquisition in Hellenic Healthcare Group, a Greece and Cyprus-focused health care provider, for €800m. CVC Capital Partners retains a 35% stake. Go deeper
• Qualcomm (Nasdaq: QCOM) agreed to acquire Arduino, an Italian open-source hardware and software company that had raised nearly $60m from firms like CDP Venture Capital, Anzu Partners, and Arm. Go deeper
M&A
🚑 Zimmer Biomet (NYSE: ZBH) completed its $177m purchase of Austin, Texas-based orthopedic robotics company Monogram Technologies. Go deeper
Fundraising
• Manulife Investment Management raised $5.5b for its third infrastructure fund. Go deeper
• Energy Impact Partners closed its third flagship fund with $1.4b. Go deeper
• Markd reopened its debut $100m fund and is seeking another $500m. Go deeper
It's Personnel
• Caitlin Brodie joined Permira as a managing director of North American capital formation. She previously was with Carlyle. Go deeper
• Hideaki Kiyomori joined Canada's Northleaf Capital Partners as managing director of Japan biz dev. He previously was a director of private alts at AllianceBernstein. Go deeper
• Michael Nash joined Hunter Point Capital as a senior partner. He previously co-founded Blackstone's real estate debt strategy. Go deeper
• Travis Pittman joined Leon Capital Group as a managing partner of strategic investments. He previously was with Portage Point Partners and Houlihan Lokey. Go deeper
• Peter Scher is retiring next spring as vice chair of JPMorgan Chase. 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.
