Illustration: Brendan Lynch/Axios
Venture Capital
• Revolut, a London-headquartered neobank, is raising $3b at a $75b valuation. per Bloomberg. Axios flashback
• Tempo, a blockchain-based payments startup created by Stripe and Paradigm, raised $500m in Series A funding at a $5b valuation, per Fortune. Greenoaks and Thrive Capital led, joined by Sequoia, Ribbit Capital, and SV Angel. Go deeper
💊 CoMind, a London-based brain monitoring startup, raised a $60m Series A. Plural led, joined by Angelini Ventures, LocalGlobe, Octopus Ventures, Crane, Backed VC and Entrepreneurs First. Go deeper
• Hyperlayer, U.K.-based embedded fintech products company, raised £30m. CDAM led, joined by Mouro Capital, Iona Star, Flintlock Capital, and Susquehanna Private Equity Investments. Go deeper
• Conceal, an Augusta, Ga.-based cybersecurity startup, raised $26m in Series B funding. Two Bear Capital led, joined by Allegis Cyber and Gula Tech Adventures. Go deeper
• AdsGency, an SF-based paid marketing workflow automation startup, raised $12m in seed funding led by XYZ VC. Go deeper
• Magic, a restaurant-focused CRM, raised $10m in seed funding. Lerer Hippeau led, joined by Bling Capital, Floodgate, Major Food Group, and VCR Group. Go deeper
💊 Cyclana Bio, a U.K.-based endometriosis biotech, raised £5m in pre-seed funding. NfX and Eka VC led, joined by Cocoa VC, and Wilbe. Go deeper
🚑 Andel, a New York-based provider of lower-cost medications via employers, raised $4.5m from Lightbank, Seedcamp, Bertelsmann Healthcare Investments, Houghton Street Ventures, and Springboard. Go deeper
⚡️HotGreen Solutions, a U.K. developer of ultra-efficient heat pumps, raised £1.2m in pre-seed funding. Empirical Ventures led, joined by Coca-Cola Europacific Partners, First Imagine Ventures, The Conduit Impact Fund, and Almanac Ventures. Go deeper
Private Equity
• Archimed completed its $730m take-private buyout of Florida-based dental implant maker ZimVie. Go deeper
🚑 BioMatrix Infusion Pharmacy, a Frazier Healthcare Partners portfolio company, acquired LUX Infusion, an Alaska-based ambulatory infusion provider. Go deeper
• EQT has been in talks to potentially acquire Coller Capital, HarbourVest Partners or Pantheon as it seeks to expand its secondaries business, per Bloomberg. Go deeper
• FloWorks, a Wynnchurch Capital portfolio company, acquired Slater Controls, a Midland, Texas-based distributor of valve automation, instrumentation, and relief valves. Go deeper
• Kelso & Co. invested nearly C$400m for a minority stake in Canadian financial services firm Wellington-Altus. Go deeper
• MARI, a PE-backed events company led by Ari Emanuel, acquired digital ticketing firm TodayTix from Great Hill Partners. Go deeper
Liquidity
• Permira is seeking to sell Octus (fka Reorg), a New York-based financial services group that could fetch $4b, per Reuters. Go deeper
• U.K. antitrust regulators approved Global Payments' (NYSE: GPN) $24b purchase of Worldpay from FIS (NYSE: FIS) and GTCR. Go deeper
M&A
🌍 Arcwood Environmental, a portfolio company of EQT Infrastructure, acquired ERG Environmental, a Livonia, Mich.-based waste and environmental solutions provider. Go deeper
• Lecturio, a German digital health care education company whose VC backers include Sterling Partners, acquired SimTutor, an Atlanta-based simulation software company. Go deeper
Fundraising
• Diversis, an L.A.-based PE firm focused on software and tech-enabled services companies, raised $1.2b for its third fund. Go deeper
It's Personnel
🚑 Nabeel Ahmed, former CFO of Outset Medical, joined Kandu as CFO. Bret Christensen and Michael Levitz were appointed to Kandu's board. Go deeper
• Edward Codispoti, former CFO of NV5 Global, was named CFO at American Public Education (Nasdaq: APEI). Go deeper
• Earl Ellis, former EVP and CFO at ABM Industries (NYSE: ABM), joined Panera Bread as CFO. Go deeper
• Everett Randall was named general partner at Benchmark. He was previously a partner at Kleiner Perkins. Go deeper
• Vin Sachidananda joined Radical Ventures as a partner. He previously was a partner with Two Sigma. Go deeper
Debt
• Switch, a Las Vegas-based data center provider, raised nearly $659m via an asset-backed securities offering. Go deeper
💊 NewLimit, a Bay Area anti-aging biotech, raised $45m in convertible notes from Lilly Ventures, S32, Kleiner Perkins and Dimension Capital. 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.
