Illustration: Aïda Amer/Axios
Venture Capital
• Lettuce Financial, an SF-based solopreneur fintech platform, raised $28m led by Zeev Ventures. It also acquired benefits access startup Besolo. Go deeper
• Archy, a San Jose, Calif.-based dental practice software, raised $20m a Series B. TCV led, joined by Bessemer Venture Partners, CRV, and Entrée Capital. Go deeper
🌎 PACT, a British biomaterials developer, raised $20m in Series A funding. Forbion and HV Capital led, joined by insider Hoxton Ventures. Go deeper
🚑 Bevel, a New York–based AI health companion, raised a $10m Series A from General Catalyst. Go deeper
• The Prompting Company, an AI search optimizer, raised $6.5m from investors including Peak XV Partners, Base10, Y Combinator, and Firedrop. Go deeper
• Catalyx Space, an SF-based orbital mission infrastructure company, raised $5.4m in seed funding led by Outlander VC. Go deeper
Private Equity
• Cerberus Capital Management acquired BROCC Finance, a Swedish banking group. Go deeper
• Ping Identity, a Thoma Bravo portfolio company, agreed to buy Keyless, a London-based biometric authentication startup that raised around $9m from investors including Experian and Rialto Ventures. Go deeper
• Vector Capital Management closed its acquisition of Showpad, an AI revenue enablement tech company, and merged it with Bigtincan. Go deeper
Going Public
⚡️Dynamix Corp. III, an energy and digital infrastructure SPAC, raised $175m in its IPO. Go deeper
Liquidity
• Abry Partners sold Portfolio Holding, a Lake Forest, Calif.-based provider of reinsurance management services and products, to Protective Life Insurance, a U.S. unit of Dai-ichi Life (Tokyo: 8750). Go deeper
• Boyd Group Services (TSX: BYD) agreed to buy Joe Hudson's Collision Center from TSG Consumer Partners for $1.3b. Go deeper
M&A
• SpaceX is among the suitors that have held early talks about acquiring Globalstar (Nasdaq: GSAT), a Covington, La.-based satellite company 20% backed by Apple, per Bloomberg. Go deeper
Fundraising
• Arlington Capital Partners, a PE firm focused on government-regulated industries, raised $6b for its seventh fund. Go deeper
It's Personnel
• Feyza Haskaraman joined Felicis as a partner. She previously was with Menlo Ventures. Go deeper
• TS Anil, Monzo CEO, is stepping down. Diana Layfield, former GM of search international and growth at Google, will take over in February, subject to regulator approval. Go deeper
• Abraham Zilkha was named partner on the AEA Elevate team. 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.
