Illustration: Maura Losch/Axios
Venture Capital
• Clio, a Vancouver-based legal AI tech company, raised $500m in Series G funding at a $5b valuation and also completed its $1b vLex acquisition. NEW led, joined by TCV, Goldman Sachs Asset Management, Sixth Street Growth, and JMI Equity. It also raised $350m in debt led by Blackstone and Blue Owl Capital. Go deeper
- A portion of the raise was used to fund the vLex acquisition, CFO Curt Sigfstead tells Axios at Web Summit.
⚡️Valar Atomics, a Hawthorne, Calif.-based developer of nuclear gigasites, raised a $130m Series A. Snowpoint Ventures, Day One Ventures and Dream Ventures led, joined by Riot Ventures, Balerion Ventures, Contrary, and Palmer Luckey. Go deeper
💊 Iambic Therapeutics, a San Diego-based AI drug discovery company, raised $100m in new Series B funding from Abingworth, Alexandria Venture Investments, Alumni Ventures, ARK, Ascenta, Catalio, Everbright Biofund, and Freeflow Ventures. Go deeper
• Neros, an El Segundo, Calif.-based military drone maker, raised $75m in Series B funding. Sequoia Capital led, joined by Vy Capital and Interlagos. Go deeper
• Scribe, an SF-based workflow documentation startup, raised $75m in Series C funding at an $1.3b valuation. StepStone led, joined by Amplify Partners, Redpoint Ventures, Tiger Global, Morado Ventures, and New York Life Ventures. Go deeper
•Lighthouse Canton, a Singaporean-based asset manager with $5b in AUM, raised $40m. Peak XV Partners led, joined by Nextinfinity and Qatar Insurance Company. Go deeper
• 1mind, an SF-based AI sales startup, raised $30m in Series A funding. Battery Ventures led, joined by Primary Ventures, Wing Venture Capital, Operator Collective, Harmonic Growth Partners and Success Venture Partners. Go deeper
🚑 Lumonus, an Australian radiation oncology workflow company, raised A$25m in Series B funding. Aviron Investment Management led, joined by Oncology Ventures. Go deeper
🚑 Evidium, a clinical reasoning startup, raised $22m in Series A funding. Health2047 and WGG Partners led, joined by Interwoven Ventures and Mindset Ventures. Go deeper
• Spectral Compute, a London-based tool to let Nvidia CUDA code run on other GPU hardware, raised $6m in seed funding. Costanoa led, joined by Crucible. Go deeper
• Appetronix, a London-based food service robotics company, raised $6 million in seed funding from Jim Grote, the Grote family, and AlleyCorp. Go deeper
Private Equity
• GTCR completed its $2.5b acquisition of smart security firm Simplisafe from Hellman & Friedman. Axios flashback
⚡ IWG, backed by Olympus Partners, acquired Special Corde, an Italian supplier of specialty conductors. Go deeper
• Nexture, an Investindustrial portfolio company, acquired Portuguese ingredient company Frulact from Ardian. Go deeper
• Renovus Capital Partners acquired Chicago-based managed services provider K2 Services, which concurrently bought Forrest Solutions and Epiq's global business transformation services business. Go deeper
• Sequel Ortho, a portfolio company of InTandem Capital Partners, acquired Fox Valley Orthopedics, a Geneva, Ill.-based orthopedics group. Go deeper
• Valor Exterior Partners, a portfolio company of Osceola Capital, acquired Kentucky's Unisource Roofing and Ohio's A. Caspersen. Go deeper
Going Public
⚡️Activate Energy Acquisition, an oil and gas SPAC, filed for a $200m IPO. Go deeper
• Klook, a Hong Kong-based travel platform focused on younger users, filed for an IPO and plans to list on the NYSE (KLK). Backers include HSG, MPCi, SoftBank, and Vitruvian Partners. Go deeper
M&A
🚑 Fabric, an NYC-based health-care ops enabler, acquired UCM Digital Health, a Claymont, Del.-based telehealth provider for payors and employers. Go deeper
• Parker-Hannifin (NYSE: PH) is in talks to acquire Filtration Group, one of the largest pure-play filtration companies in the world, from Madison Industries for around $9b, per Bloomberg. Go deeper
• SCG, a British telecom and cloud services provider, hired Houlihan Lokey to explore a sale that could fetch up to $1.1b, per Bloomberg. Go deeper
• State Street (NYSE: STT) acquired PriceStats, a Cambridge, Mass.-based provider of daily inflation statistics. Go deeper
Fundraising
• CMT Digital raised $136m for its fourth blockchain-focused venture fund. Go deeper
It's Personnel
• Brynjar Agnarsson joined Churchill Asset Management as a managing director and senior investment strategist. He previously was with PJT Park Hill Group. Go deeper
• a16z Crypto promoted Guy Wuollet to general partner. Go deeper
Odds & Ends
💊 Eli Lilly (NYSE: LLY) will pay up to $475m to MeiraGTx for worldwide exclusive rights to an experimental gene therapy for a rare vision disease.
- It also will pay up to $1.2b in a licensing collaboration with Boston-based SanegeneBio to develop RNAi candidates for metabolic diseases, and $100m to Cambridge, Mass., drug discovery company Insilico Medicine to develop new therapies for undisclosed conditions.
- 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.
